The article demonstrates the historical and geographical dynamics and nature of the development of the Northern and Arctic territories of Russia from the 17th century. Soon these areas began to play an important economic role, as the furs, which was obtained there, was a source of monetary metals. In fact, the country’s budget depended on the furs, and the successes of development of the North (and the East) then were particularly impressive. During the reviewed three-century period, this development was intimately connected with the extraction and export of resources, which determined the specialization of Russia in global commodity markets specific for each respective era. The article provides an overview of the contribution to this process each of the three centuries preceding the Soviet period and preparing the Soviet breakthrough in the development of Northern and Arctic territories of Russia. The authors also compared the historical and geographical features of development of the Arctic and Northern territories of Russia to the similar process in the North of America.