The Economic Security of Ukraine and the European Union in the Context of a Military Crisis

Abstract

Year 2022 brought increasing uncertainty and new challenges around the world, including in the European Union (EU), mainly related to the Russian aggression against Ukraine and its direct and indirect effects for all EU Member States. Europe finds itself in a difficult situation which provokes reflection on the current shape of the EU’s security policy and the need to rethink and structure its stipulations. Faced with Russian aggression against Ukraine, the EU has implemented a number of new foreign policy initiatives and measures to support both the economy of Ukraine and of its member states. This article explores the issue of EU and Ukrainian economic security in the context of the financial and economic intervention measures taken by the Union to maintain sustainable development in the region. The EU support is helping Ukraine to survive, while on the other hand the EU has certain demands regarding Ukrainian reforms and certain aspects of its policies. These sensitive issues regarding the inadequacy of the EU’s role in relation to recent challenges are topical in the debate in Ukraine.