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Esta publicación científica en formato digital es continuidad de la revista impresa
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197402ZU34
Instituto de Estudios Políticos y Derecho Público "Dr. Humberto J. La Roche"
de la Facultad de Ciencias Jurídicas y Políticas de la Universidad del Zulia
Maracaibo, Venezuela
Vol.41 N° 78
Julio
Septiembre
2023
Mechanisms of strengthening the
economic sovereignty of the state in the
context of military operations
DOI: https://doi.org/10.46398/cuestpol.4178.28
Yevhen Bilousov *
Ivan Yakoviyk **
Kateryna Yefremova ***
Eugene Novikov ****
Ihor Zhukov *****
Abstract
The objective of the study was to determine the methodological
aspects of the construction of mechanisms for strengthening
economic sovereignty in the context of the processes of
globalization and war. Comparative law and economic statistics
were used in the study. The research found that economic security,
which showed a significant decrease after a large-scale invasion, is the
material expression of economic sovereignty. The Debt/GDP ratio reached
85% and gross external debt was 83% of GDP. Mechanisms for strengthening
Ukraine’s economic sovereignty and economic security were determined
by analysing international experience. They included, in particular:
improvement of the legal framework, development of emergency response
mechanisms, development of international partnerships, strengthening
of economic governance, balancing regional development. Reactive and
proactive approaches to the development of response measures should
be taken into account when introducing such mechanisms. The results of
the study are of value to government representatives in terms of ensuring
the economic security and economic sovereignty of the country. Further
research can focus on identifying the main methods for forecasting threats
to the economic sovereignty of the country.
* Doctor of Law, Professor of the Department of European Union Law, Yaroslav Mudryi National Law
University, 61024, Kharkiv, Ukraine. ORCID ID: https://orcid.org/0000-0003-3998-9947
** Doctor of Law, Professor of the Department of European Union Law, Yaroslav Mudryi National Law
University, 61024, Kharkiv, Ukraine, Ukraine. ORCID ID: https://orcid.org/0000-0002-8070-1645
*** PhD in Law, Senior Researcher, Deputy Director in charge of scientific work, Scientific and Research
Institute of Providing Legal Framework for the Innovative Development of NALS of Ukraine, 61002,
Kharkiv, Ukraine. ORCID ID: https://orcid.org/0000-0002-1917-9691
**** PhD in Law, Researcher of Scientific in the Scientific and Research Institute of Providing Legal
Framework for the Innovative Development of NALS of Ukraine, 61002, Kharkiv, Ukraine. ORCID ID:
https://orcid.org/0000-0002-6085-8258
***** PhD in Law, Associate Professor of the Department of European Union Law, Yaroslav Mudryi National
Law University, 61024, Kharkiv, Ukraine. ORCID ID: https://orcid.org/0000-0003-1374-196X
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Vol. 41, Nº 78 (2023), 400-416
IEPDP-Facultad de Ciencias Jurídicas y Políticas - LUZ
CUESTIONES POLÍTICAS
Vol. 41 Nº 78 (2023): 400-416
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Keywords: economic sovereignty; economic security; globalization
transformations; national interests.
Mecanismos de fortalecimiento de la soberanía
económica del Estado en el contexto de operaciones
militares
Resumen
El objetivo del estudio fue determinar los aspectos metodológicos de
la construcción de mecanismos para el fortalecimiento de la soberanía
económica en el contexto de los procesos de globalización y guerra. En
el estudio se utilizó el derecho comparado y las estadísticas económicas.
La investigación encontró que la seguridad económica, que mostró una
disminución significativa después de una invasión a gran escala, es la
expresión material de la soberanía económica. La relación Deuda/PIB
alcanzó el 85% y la deuda externa bruta fue del 83% del PIB. Los mecanismos
para fortalecer la soberanía económica y la seguridad económica de Ucrania
se determinaron mediante el análisis de la experiencia internacional.
Incluyeron, en particular: mejora del marco legal, desarrollo de mecanismos
de respuesta de emergencia, desarrollo de asociaciones internacionales,
fortalecimiento de la gobernanza económica, equilibrio del desarrollo
regional. Los enfoques reactivos y proactivos para el desarrollo de medidas
de respuesta deben tenerse en cuenta al introducir tales mecanismos. Los
resultados del estudio tienen valor para los representantes gubernamentales
en términos de garantizar la seguridad económica y la soberanía económica
del país. La investigación adicional puede centrarse en identificar los
principales métodos para pronosticar amenazas a la soberanía económica
del país.
Palabras clave: soberanía económica; seguridad económica;
transformaciones de la globalización; intereses
nacionales; medidas reactivas.
Introduction
In the context of globalization, the development of effective mechanisms
for strengthening the economic sovereignty of the state should be aimed
at solving a number of controversial issues of determining the balance
between national interests and compliance with international norms (Dutta
and Anupama, 2019; Paplekaj, 2021; Charsmar, 2020). Globalization is
Yevhen Bilousov, Ivan Yakoviyk, Kateryna Yefremova, Eugene Novikov y Ihor Zhukov
Mechanisms of strengthening the economic sovereignty of the state in the context of military operations
402
often considered a force undermining economic sovereignty (O’Grady
Walshe, 2019), but many works refute this view (Quiggin, 2001; March
and Schieferdecker, 2021; Collin, 2004; Havrylyshyn et al., 2000). In
particular, Sapir (2020) suggests considering international law as a law of
coordination that does not subordinate one state to another.
Pisani-Ferry and Wolff (2019) note that the development of economic
sovereignty does not involve a rejection of globalization, which brings
advantages for further growth. Its strengthening should involve
strengthening the order based on the relevant rules.
Such contradictions are caused, among other things, by the lack of a
generally accepted definition of economic sovereignty. It can be defined as
the ability of the national government to make decisions independently of
other governments’ decisions (Ozioko and Oraegbunam, 2019; Tkalenko,
2014) and is also used in discussions about “economic patriotism” (Clift,
2022; Szanyi, 2022) and “economic populism and sovereigntism”
(Gryshchenko et al., 2022a; 2022b; Mazzoleni and Ivaldi, 2022; Csehi and
Heldt, 2021). Caravella et al. (2021) define economic sovereignty as the
ability to generate added value and prosper through independent activities.
Mitchell (2010) describes economic sovereignty as the state’s autonomy
to implement fiscal and monetary policy, which is demonstrated by its
ability to achieve desired economic goals and outcomes. In the conditions of
globalization, such interpretations of economic sovereignty are somewhat
narrow-minded, because the modern international environment determines
the interdependence of countries to a certain extent, and therefore they
cannot conduct their activities at their own discretion only.
Therefore, economic sovereignty should be viewed as an opportunity
for the state to choose one of the alternatives for further economic
development. It is necessary to develop appropriate mechanisms for
strengthening economic sovereignty in order for globalization processes not
to threaten it, which will contribute to an adequate assessment of existing
and potential threats. This will help to preserve national interests in the
context of integration processes.
The aim of the article is to determine the methodological aspects of
developing mechanisms for strengthening economic sovereignty in the
context of globalization processes and war. The aim involved the fulfilment
of the following research objectives:
• determine the components of economic security as a material
embodiment of economic sovereignty;
• propose approaches to the development of mechanisms for
strengthening economic sovereignty during the war;
CUESTIONES POLÍTICAS
Vol. 41 Nº 78 (2023): 400-416
403
• determine the main mechanisms for ensuring economic security
and strengthening economic sovereignty in the context of crisis
in the USA and the EU, and propose ways of their adaptation in
Ukraine.
1. Literature review
The work of Tatsii et al. (2021) significantly influenced the author’s
position regarding the main areas of research. The researchers reveal the
concept of economic sovereignty through the prism of its relationship with
the economic security of the state, coming to the conclusion that economic
security can be considered as a material embodiment of the economic will
of the state (economic sovereignty).
Besides, their reflections on the transformation of the understanding of
economic sovereignty in the course of deepening integration processes in
the economy are worth special attention. The work also takes into account
the findings of Yakoviyk et al. (2020), who comprehensively consider the
problems of ensuring national, including economic, security.
The monograph by Mazaraki et al. (2015) made a significant contribution
to the development of aspects of economic sovereignty. In particular,
the work noted that approaches to the understanding and realization of
economic sovereignty vary in time and space, and they can be interpreted
in terms of three main parameters: carrier, absoluteness, external and
internal dimensions.
Almost all researchers in this direction raise the issue of the “absolute”
economic sovereignty, its limits and existence as such in general in the
context of globalization, integration and deepening interdependence of
economies. Sapir (2020) notes that criticisms of both absolute and limited
sovereignty often refer to the objective limitations imposed by the state.
However, in the event of a decreased control by the state in connection
with the strengthening of its dependence on relations with other countries,
the importance of this state decreases accordingly. Therefore, the thesis
of economic globalization is often used to justify the limitations of the
state’s powers and the gradual abandonment of sovereignty. However,
this statement is misleading because of the inappropriate generalization of
different levels of abstract concepts.
The conceptual apparatus of the study is based on the work of Miriasov
and Yakhno (2019), who study methodological approaches to determining
the economic sovereignty of the state. In their work, the researchers
emphasize the essential difference between the political and economic
sovereignty of the state, reveal the differences in the understanding of
Yevhen Bilousov, Ivan Yakoviyk, Kateryna Yefremova, Eugene Novikov y Ihor Zhukov
Mechanisms of strengthening the economic sovereignty of the state in the context of military operations
404
economic sovereignty from the economic and legal points of view, and also
emphasize incomplete existing definitions of this concept, offering their
own interpretation. The distinction between formal and actual economic
sovereignty is an important emphasis in the work.
Unlike Miriasov and Yakhno (2019), who emphasize the differences
between political and economic sovereignty, Leonard et al. (2019) suggest
that the line between geopolitical and economic sovereignty is becoming
increasingly blurred.
The researchers reveal the problems of ensuring economic sovereignty
in the European Union (EU) in the form of an analytical report. They noted
that sovereignty for the EU as a whole is, first of all, economic sovereignty.
The ability of EU countries to work together to maintain economic
independence underlines the value of European integration. This statement
is supported by the EU’s ability to determine the rules of the game in the
global economy.
Savanovic (2014) provided an alternative approach to the relationship
between economic and political sovereignty. The approach is to transform
the classical concept of sovereignty, in which economic sovereignty itself
becomes the dominant element of sovereignty, while other aspects of
sovereignty are effectively suppressed and “turned into simple words.” This
view is opposite to the views of individual lawyers who, as Miriasov and
Yakhno (2019) noted, consider the separation of the concept of “economic
sovereignty” as such inappropriate.
Hackenbroich et al. (2020) are the authors of an analytical report on
the protection of European sovereignty and the search for new ways to
counter economic coercion. Like the study by Leonard et al. (2019), this
work belongs to the series of reports of the European Council on Foreign
Relations and also has not only theoretical, but also practical value, as it
reveals directions for strengthening economic sovereignty in European
countries.
In some works, the desire to strengthen/restore economic sovereignty
is defined as a counter-reaction to the globalization and denationalization
processes. The sentiments of dissatisfaction intensified in certain regions
and/or among certain strata of the population when such trends deepened.
Examining the election campaigns of Austrian parties, Heinisch et al.
(2020) note that populist radical right and, more recently, centre-right
parties in Western political systems seek to “recover lost values in the
search for self-determination.” Jabko and Luhman (2019) explore the
reconfiguration of sovereignty, including economic, in the EU.
The analysis of literature gives grounds to note that very few studies
focus on the ways and mechanisms of strengthening economic sovereignty
CUESTIONES POLÍTICAS
Vol. 41 Nº 78 (2023): 400-416
405
in the context of military operations. At the same time, the issue of defining
and ensuring economic sovereignty arises most acutely in such conditions,
because economic sovereignty is under the greatest threat in wartime.
2. Methods and materials
2.1. Research design
The first stage of the study provided for describing the structure of
Ukraine’s economic security by analysing the 2025 Economic Security
Strategy of Ukraine. The application of the method of economic statistical
analysis demonstrated the deterioration of the main indicators of the state
of economic security in terms of its financial component upon a full-scale
invasion.
The second stage deals with identification of the mechanisms of ensuring
economic security and strengthening economic sovereignty in the context
of crisis in the USA and the EU using the method of comparative law. The
conducted analysis made it possible to create a list of these mechanisms for
Ukraine.
The third stage involved making propositions to classify response
measures into proactive measures (countermeasures or mitigating the
threat) and reactive measures (overcoming or adapting to the threat) based
on the analysis of international experience.
2.2. Methods
The study involved the method of comparative law and economic
statistics.
2.3. Sample
The research sample consists of such countries as Ukraine, the USA, the
EU, Japan, and China. The choice of Ukraine as the main object of the study
is explained by the current situation in the country, which developed with
the beginning of the full-scale invasion of the Russian Federation on the
sovereign territory of the country, which caused a number of significant
threats to the economic sovereignty and economic security of the country.
Other states are included in the study because of the existence of
powerful systems of ensuring economic sovereignty and economic security,
which can be a positive example for Ukraine. The experience of the EU,
among other things, is considered in the article through the prism of the
European integration intentions of Ukraine.
Yevhen Bilousov, Ivan Yakoviyk, Kateryna Yefremova, Eugene Novikov y Ihor Zhukov
Mechanisms of strengthening the economic sovereignty of the state in the context of military operations
406
2.4. Information background
Academic periodicals of Ukraine and other states, legislative acts of
Ukraine, as well as information contained on the official website of the
Ministry of Finance of Ukraine are used as the information background of
the research.
3. Results
3.1. Components of economic security as a material
embodiment of economic sovereignty
The problem of ensuring Ukraine’s economic sovereignty is more acute
than ever in the context of the large-scale invasion of the Russian Federation
(RF) on the country’s territory, as well as Ukraine’s European integration
course.
These two global factors have a direct and significant impact on
ensuring the economic sovereignty of Ukraine, which is materially
expressed in economic security. The 2025 Economic Security Strategy of
Ukraine (Verkhovna Rada of Ukraine, 2021) provides the values of the
main indicators of economic security presented in terms of its components
(Figure 1).
Figure 1: Components of economic security (built by the author according to
(Verkhovna Rada of Ukraine, 2021).
CUESTIONES POLÍTICAS
Vol. 41 Nº 78 (2023): 400-416
407
Figure 1 shows the integral value of the assessment of the state of each
component of economic security in percentage (with an optimal value of
100%). This gives grounds to judge that the state of all components of
Ukraine’s economic security was assessed as unsatisfactory as of 2019. The
situation worsened after the invasion, which is confirmed by the analysis of
economic security indicators. Table 1 compares the values of some of these
indicators in 2019 and 2022.
Table 1. Comparison of the values of some indicators of ftnancial security as one
of the main components of the economic security of the state in 2019 and 2022
Indicator
Value in
2019
Value in
2022
Critical
value
Budget deficit to GDP ratio, %
2
19.1
32
Debt-to-GDP ratio, %
44.3
85
60
Gross external debt (percentage of GDP)
79.2
83
70
Source: prepared by the author based on (Verkhovna Rada of Ukraine, 2021; Ministry of
Finance of Ukraine, 2023).
Table 1, gives grounds to conclude that the negative economic trends
significantly deepened after the full-scale invasion. The Debt-to-GDP ratio
and Gross External Debt require special attention, because their values
significantly exceed the critical ones. This is determined by the need to
attract significant financial resources for the country’s defence, thereby
causing an ambiguous situation. On the one hand, the growing public debt
and ross external debt pose a threat to the country’s economic security.
On the other hand, Ukraine would not be able to fully resist the aggressor
without loans, and its economic, as well as national, security would be under
even greater threat. This proves that the interpretation of integration and
deepening of relations with other countries and international organizations
as an unambiguous threat to economic security and sovereignty is somewhat
one-sided. Therefore, the level of the threat should be assessed taking into
account the specific situation in a specific country.
3.2. Mechanisms for ensuring economic security and
strengthening economic sovereignty in crisis conditions in the
USA and the EU and their adaptation in Ukraine
The mechanism for ensuring economic security and strengthening
economic sovereignty in the US crisis involves several key principles and
tools. Most often, the main aspects that are taken into account are the
following:
Yevhen Bilousov, Ivan Yakoviyk, Kateryna Yefremova, Eugene Novikov y Ihor Zhukov
Mechanisms of strengthening the economic sovereignty of the state in the context of military operations
408
1.
Ensuring the reliability of the financial and regulatory systems by
creating a comprehensive structure of financial rules and institutions
in order to maintain stability and mitigate risks. The Federal Reserve
System, the Securities and Exchange Commission, and the Treasury
Department are the main players in this structure. These authorities
supervise financial markets and institutions, monitor systemic risks,
and implement measures to protect economic security.
2.
Implementation of measures to respond to emergency situations,
in particular, fiscal stimulus packages are implemented, monetary
policy is adjusted, targeted support is provided to industries
that have suffered losses, financial assistance programmes are
introduced, etc.
3.
Cooperation with international partners (countries and international
organizations) in order to coordinate the response to global crises
and exchange experience. This helps increase the effectiveness
of measures to ensure economic security and contributes to the
stabilization of the world economy.
4.
Improving the legislative framework, in particular, acts related to
financial regulations, trade policy, emergency management, as well
as national security strategies regarding the economy.
The mechanisms for ensuring economic security and strengthening
economic sovereignty in the context of a crisis in the EU in the context of
Ukraine’s European integration intentions are also worth noting, which
include:
1.
Defining the economic management framework, which includes
the Stability and Growth Pact (SGP), the European Semester and
the Macroeconomic Imbalance Procedure. These mechanisms are
aimed at ensuring fiscal discipline, coordinating economic policy,
and preventing imbalances.
2.
Implementation of crisis management tools to resolve financial
crises and support member states facing economic problems. These
instruments include the European Stability Mechanism, which
provides financial assistance to countries in financial distress, and
the European Investment Bank, which offers financing for strategic
investments.
3.
Ensuring unity and solidarity through structural funds and related
policies. These mechanisms help reduce regional disparity, support
economic development, and increase social resilience in times of
crisis.
4.
Development and improvement of the legislative framework,
including on the implementation of banking supervision, regulation
of securities and capital markets, as well as competition policy.
CUESTIONES POLÍTICAS
Vol. 41 Nº 78 (2023): 400-416
409
It is important for Ukraine to assess the specific conditions of its
development and to consult with experts and stakeholders in order to
develop and implement an appropriate mechanism for ensuring economic
security and strengthening economic sovereignty. Ukraine should consider
the following mechanisms taking into account the experience of the USA
and the EU:
•
improvement of existing and the development of new effective legal
acts, which should be aimed at strengthening financial stability
and increasing the transparency of the financial system, take into
account the improvement of risk management practices and the
implementation of measures to prevent and resolve financial crises;
•
development of emergency response mechanisms, including the
ability to provide timely fiscal incentives, implement targeted
support measures for affected sectors, strengthen social protection
networks, create crisis response funds;
•
development of international partnership for exchange of experience,
knowledge and resources, in particular, through participation in
regional and global economic cooperation initiatives;
•
improving economic governance, which can be implemented
through the establishment of effective fiscal rules, improving the
management of public finances, increasing transparency and
accountability in the process of making economic decisions;
•
balancing of regional development aimed at reducing regional
disparities and supporting vulnerable population groups during the
crisis.
3.3. Approaches to the improvement of the mechanism of
strengthening economic sovereignty during the war and in the
post-war period
The analysis of international experience and its comparison with
Ukrainian practice revealed that the world’s leading countries use not only
a reactive (response to existing challenges), but also a proactive approach
(anticipation and early action in response to potential challenges) for
ensuring economic sovereignty and economic security. Therefore, it is
suggested that the threats to economic security should be classified using
the algorithm shown in Figure 2.
Yevhen Bilousov, Ivan Yakoviyk, Kateryna Yefremova, Eugene Novikov y Ihor Zhukov
Mechanisms of strengthening the economic sovereignty of the state in the context of military operations
410
Figure 2: Classiftcation of threats by appropriate measures (counteraction,
mitigation, coping or adaptation) (developed by the author).
Such a distribution of threats will contribute to more effective
countermeasures by determining the most appropriate measures and taking
into account the possibility of completely preventing them or mitigating
their negative impact in advance. Ultimately, this will help strengthen
economic security and strengthen the economic sovereignty of the state.
4. Discussion
The results of the study develop the main theses presented in Tatsii et al.
(2021), however, the researchers’ work is more theoretical, and it also does
not take into account the problems faced by the economy during the war,
because the work was written before it began.
Yakoviyk et al. (2020) determine the key areas of ensuring national
security, which can be interpreted as external — joining the global security
system (NATO, UN) and internal — ensuring regional security by the
country. An important achievement of researchers used in this study is
the conclusion that the security policy of Ukraine in the current conditions
should not only counteract existing threats, but apply more active
(aggressive) mechanisms to ensure national security.
Such mechanisms should serve the promotion of national interests in
the geopolitical space. The expanded classification of security and proactive
CUESTIONES POLÍTICAS
Vol. 41 Nº 78 (2023): 400-416
411
measures (defined in the article as “reactive” and “proactive”) into proactive
countermeasures/mitigation and reactive coping/adaptive measures is
distinctive in the author’s research.
The work of Miriasov and Yakhno (2019) considered the theoretical
aspects of the definition of the concept of “economic sovereignty”, which
researchers divide into formal (existing rights) and actual (the degree of
compliance of realities with constitutional norms). The author’s work is
different, as considered economic sovereignty only in a formal sense, and
its material (actual) expression is found in the degree of economic security,
which more fully reflects the economic and legal essence of the category.
Mazaraki et al. (2015) consider economic sovereignty in two dimensions
— internal and external. In contrast to this work, the author’s research
focuses mostly on the external dimension, because the category of economic
sovereignty finds its manifestation in any open economy through foreign
economic relations.
A study by Leonard et al. (2019), as well as the work of Hackenbroich
et al. (2020), which is a continuation of the previous one, focuses on
identifying threats and countering them in the EU. The United States of
America (USA) and China are identified as one of the sources of the most
important threats to the EU. Russia is also a threat, but “its economic
leverage is limited by its economic failure.” In response to the increased
level of threats, researchers suggest developing the scientific, innovative
and technological background, protecting critical assets from foreign
interference, ensuring equal conditions for domestic and international
competition, strengthening monetary and financial autonomy.
The desire to restore economic sovereignty can be traced as a counter-
reaction to the globalization processes in this policy, which carry certain
threats. The definition of economic sovereignty by Savanovic (2014)
is worth noting in this context: “being sovereign means that a person is
de facto capable of managing resources, i.e., able to impose the rules of
allocation, exchange and use of resources”, which is the definition of
economic sovereignty in this work.
This is a return to the understanding of sovereignty as an absolute
category, and even the ability to “impose rules” is attributed to its key
characteristics. This distinguishes these works from the author’s article,
which states that sovereignty is “eroding” under globalization, but this is
not always a threat. This difference is probably determined by the difference
in the understanding of economic sovereignty for Ukraine and the EU.
Increasing dependence on international partners is the only alternative in
wartime for the former, because it would not be able to effectively resist
the aggressor without international support. In turn, the issue of economic
sovereignty is not only an aspect of security for the EU as a powerful union,
but also involves the possibility of dictating favourable conditions for it.
Yevhen Bilousov, Ivan Yakoviyk, Kateryna Yefremova, Eugene Novikov y Ihor Zhukov
412
Mechanisms
of
strengthening
the
economic sovereignty
of
the state
in
the
context
of
military operations
As a continuation, the works of Heinisch
et
al.
(2020) and Jabko and
Luhman (2019) are worth noting. These studies reveal the reasons behind
the desire to strengthen economic sovereignty in the EU in
response
to
globalization.
Heinisch
et
al.
(2020)
provides
the
example
of
Austria,
where
political
forces
have
expressed
concern
about
how
foreigners
are
encroaching on the socio-economic interests of
Austrians.
As
noted
in
the
paper,
the
restoration
of
economic
sovereignty
is
not
limited to criticism of European integration
—
encroachment on economic
sovereignty will probably be reflected in the rejection of international and
multilateral
trade
agreements
and
a
hostile
attitude
towards
everything
that
potentially
threatens
national
economic
autonomy.
Jabko
and
Luhman
(2019)
take
a
different
position,
noting
that
while
the
Eurozone
and
migration
crises
have
exposed
the
EU’s
weaknesses,
its
leaders
have
been able to reorganize existing institutions by addressing member states’
politicized concerns about sovereignty.
So, these studies considered the provision of
economic
sovereignty
from
the
perspective
of
the
EU
countries,
which
interpret
the
European
integration as a threat to sovereignty. In the author’s
work,
European
integration is considered as the most desirable alternative
from
the
perspective of Ukraine, which can contribute to the
strengthening
of
economic
sovereignty
in
the
context
of
threats
from
the
Russian
Federation.
At
the
same
time,
Sapir
(2020)
proposed
to
consider
international
law
as
the right of coordination, not subordination: its norms are not established
by
the
majority,
but
unanimously;
the
signatories
of
the
agreement
have
equal
rights
regardless
of
size,
population,
wealth;
any
party
has
the
right
to
unimpeded withdrawal from an international agreement. This once again
confirms that the understanding of economic sovereignty can be extremely
relative,
and
integration
into
international
associations
is
not
always
a
threat
to
economic
sovereignty,
but
must
take
into
account
the
preservation
of the balance between national interests and the norms that exist for the
members of the
association.
Conclusions
Summarizing the results of the conducted research, it is worth noting that
despite the fact that the boundaries of economic sovereignty are blurred in
the context of globalization, decisions on further integration do not always
weaken it and are often a necessary requirement for further development
and ensuring economic security. Ukraine’s economic sovereignty and
economic security, which were under a threat even before the war because
of numerous challenges to the developing economy, faced even greater
challenges after the full-scale invasion.
CUESTIONES POLÍTICAS
Vol. 41 Nº 78 (2023): 400-416
413
Integration into the EU is the optimal alternative for strengthening
economic sovereignty in the face of armed aggression of the Russian
Federation. The article determines that the actions of the government
of Ukraine should be aimed at strengthening economic sovereignty and
security in the context of European integration, as well as martial law and
post-war reconstruction. In particular, not only reactive, but also proactive
measures should be used in response to challenges, as well as international
experience should be taken into account.
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