Countering economic coercion

European Strategic Autonomy series - Economy & Trade

Policy Brief

06/07/2022

Countering economic coercion: How can the European Union succeed?

This policy brief assesses how the EU can bolster its response and defence mechanisms against foreign economic coercion. At its inception, the EU benefited from a world order where economics, foreign policy, and geopolitics were less intertwined than they are today. However, as a global economic power has shifted, these lines have been blurred.

How can the European Union succeed?

Furthermore, many global economies have decided to look after their interests outside multilateral frameworks and increasingly see multilateral institutions as outdated. Today, the long-forgotten concept of economic sovereignty is back on the agenda. The EU has been forced to become more ‘geopolitical’ instead of just an economic union.

While it is a large market, a lack of coordination among EU members makes pursuing a common foreign policy and economic agenda challenging. Nonetheless, in this paper, we present specific and realistic policy measures to defend the autonomy of EU foreign economic policy and ensure that it can pursue progressive goals abroad.

The EU should recalibrate its strategic dependencies, strengthen its ability to defend against extraterritorial sanctions, and improve mechanisms for investment and export controls. While we provide links between other areas of economic policy and national security, this paper focuses on the areas where the EU is particularly exposed – sanctions and the global financial architecture. 

One of the authors of this publication, Elina Ribakova, shared its conclusions in one of the events of the #EUStrategicAutonomy policy breakfast series that took place on July 6 2022.

Network
Fondation Jean-Jaurès
Friedrich Ebert Stiftung
Find all related publications
Publications
06/07/2022

Europe needs high-tech talent:

European Strategic Autonomy series - Digital & Technology
06/07/2022

Countering economic coercion

European Strategic Autonomy series - Economy & Trade
06/07/2022

Leveraging trade policy for the EU’s strategic autonomy

European Strategic Autonomy series - Economy & Trade
04/07/2022

Partnerships and European strategic autonomy

European Strategic Autonomy series - Security & Defense
Find all related events
Events
Upcoming
12 - 13/10/2022
Berlin, Germany

Progressive Governance Summit 2022

This conference brings together cutting-edge intellectual thinking and impactful political actors for a renewal of the progressive […]
Past
27/09/2022
FEPS Headquarters (Closed-door)

The Geopolitics of Energy & the Green Transition

Foresight series: The long-term implications of the war in Ukraine
07/07/2022
Online

Strategic Autonomy – Digital & Technology

Policy Breakfast Series
Find all related news
News
23/09/2022

FEPS President in the United Nations General Assembly

During the UNGA 77 week in New York, FEPS is expanding its global partnership. Among […]
31/05/2022

HRVP Josep Borrell participates in FEPS expert meeting on the war and the reconstruction of Ukraine

On May 23rd, FEPS organised a timely expert meeting on the war and the reconstruction […]
12/05/2022

New report shows young Europeans fear war spreading across Europe and call on EU countries to spend more on defence

Brussels, 12 May 2022 – As war continues to rage in Ukraine, a new survey has found that nearly […]
22/09/2021

FEPS leads a new flagship research project on EU Strategic Autonomy with top European experts

Does the EU have the capacity and agency to set priorities and make decisions autonomously […]
Find all related in the media
In the media

La spirale du prix de là guerre

by europanova 16/09/2022

Ukraine uses Russian invasion to pass laws wrecking workers’ rights

by Open Democracy 20/07/2022

Flames of Kyiv

by Encompass 17/05/2022

Crise na Ucrânia pode ser o toque de caixa para a Europa enfrentar temas “onde tem estado a marcar passo”

by SAPO 10/05/2022