The paper examines the issues of economic security of the EU and Ukraine, new challenges and threats that arise as a result of negative processes in the world. The main postulates of the concept of economic security, which is based on counteraction to various threats and has the mandatory condition of protecting the economic interests of the state, are substantiated. It was determined that economic security is an undeniably important component of the country's national security, which includes a set of mechanisms and measures aimed at ensuring the stability of the state's economic system, economic development, and countering internal and external threats. It is noted that the European Union needs a comprehensive strategic approach to economic security, which will make it possible to reduce existing risks, ensure and promote technological advantages in critical sectors. The priorities within which the EU policy in the field of economic security will be implemented are presented: ensuring the competitiveness of EU countries, protection against economic security risks, partnership with the widest possible range of countries. New directions for the implementation of the EU economic security strategy are outlined, which should mitigate risks and eliminate new threats. New risks and threats were identified, as well as destructive processes that had a negative impact on the economic security of Ukraine (destruction of infrastructure and production facilities, halting the implementation of investment projects, inflation, growing negative trade balance, environmental catastrophe, etc.). The need for constant monitoring of risks and threats to economic security in order to form a mechanism and measures aimed at restoring and functioning of Ukraine's economy in the conditions of war is substantiated. The competitive advantages of the Ukrainian economy are determined. The importance of cooperation in the field of economic security of the EU and Ukraine for the successful integration of the Ukrainian and European economies has been proven. Keywords: economic security of the state, national security, risks, geopolitical threats, strategic interests, investment activity, economic development, innovative development, global economy, supply chains, competitiveness, competitive advantages.