It depends on what you mean by 'The Arctic'. If it's a specific book or film, it might be based on real events to some extent, or it could be completely fictional.
No. 'The Lord of the Rings' was not a Cold War novel. It was written long before the Cold War era, with Tolkien starting to write it in the 1930s. Its themes are mainly centered around good vs. evil, heroism, and the power of friendship, which are more in line with classic fantasy and moral concepts rather than being related to the political and ideological struggles of the Cold War.
No. Tolkien began writing LOTR in the 1930s and was influenced by his study of mythology, his experiences in World War I, and his own moral and religious beliefs. The Cold War started much later, and there is no evidence that Tolkien was thinking about Cold War politics when creating Middle - earth.