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The economic space of the modern Russian Arctic is now undergoing a rapid transformation. It was modified by radically opposite approaches to the development of remote areas. Taymyr can serve as an illustrative example for studying recent shifts in the settlement system and industrial development in the Russian Arctic. This region has been retaining its particular importance for the country’s extractive industry for more than 8 decades. Taymyr combines a complex Soviet development model with large industrial city base and a flexible modern one based on large-scale greenfield projects and shift settlements. The current spatial structure of settlement and industry distribution in the Taimyr region is extremely complex and mosaic. It obviously reflects that the Arctic development was asynchronous, which led to numerous inconsistencies in the coexistence of the old Soviet industrialization model and the new decentralized approach. A wide space for further expansion of large business in the Taymyr region implies the emergence of new forms of synergistic or competitive interactions between key actors and new infrastructure configurations that have yet to be studied.