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The article explores Russia's ‘turn to the East’ and examines different and often conflicting visions of development that emerged in the process of reconstructing the Russian Far Eastern development strategy at regional and federal levels. It draws on a ‘thick’ case study of the special investment regime, Free Port Vladivostok, which exemplifies simultaneously a new approach to regional development and the contradictions spawned by it. Analysis of Free Port Vladivostok represents an entry point into a discussion of Russian neoliberalisation and ‘actually (non-)existent neoliberalism’.