Abstract The Russian Western Arctic Basins cover the huge area including the Barentsand Kara seas, the western part of the Laptev sea and adjacent territories withsome archipelagoes and islands (Spitsbergen, Franz Josef Land, SevernayaZemlya, Novaya Zemlya, etc.). They comprise the Barents and Kara Basins, thenorthern areas of the Timan-Pechora Basin, the North West Siberia, includingYamal and Gidan peninsulas and the Yenisey-Khatanga Basin. Within the RussianWestern Arctic basins the following main tectonic elements can be identified:extensional depressions (Central-Barents, Yenisei-Khatanga, West Siberia, EastUrals) with sedimentary thickness is more than 12–14 km; platform massiveswith average thickness of sediments of 4 – 6 km, monoclines and tectonic steps, like transition zones between extensional depressions and platform massives. Western Arctic basins are filled by mainly Palaeozoic and Mesozoic sedimentarysuccessions. In the sedimentary cover of this large region, many commonstratigraphic complexes and unconformities can be traced within Palaeozoic andMesozoic complexes that show similarity of geological conditions of theirformation. Analysis of the Russian Western Arctic basins, their structures andhydrocarbon prosepctivity shows the areas, which are favourable for hydrocarbonaccumulations. Deep depressions, as areas of long-term and stable sinking, arehighly promising zones for the accumulation of predominantly gas fields. Theyform regional gas accumulation belts, extending for thousands of kilometres, where the largest fields can be expected in the zones of their intersectionwith the major tectonic elements of another strike. Within the Barents-Karashelf, the large belt of predominantly gas accumulation extends from the northof the West Siberian province through the South Kara basin and into the BarentsSea. The second potential belt of predominantly gas accumulation may beassociated with the North Barents ultra-deep depression. On the flanks of thedepressions the sedimentary cover profile does not contain the complete set ofoil-and-gas-bearing complexes, identified in the central parts of theextensional depressions. The reservoirs can be filled by HC due to the lateralmigration of fluids from the neighbouring kitchens or from their own dominantoil-and-gas source rock strata. For the formation of oil accumulations, themost favourable are platform massifs and ancient uplifts areas.