Munich Security Report 2024: New EU economic security strategy, sanctions, and economic wars.

20 February 2024
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Munich Security Report 2024: New EU economic security strategy, sanctions, and economic wars.

From February 16-18, the 60th Munich Security Conference took place in Germany, where over 150 world leaders gathered to discuss issues in the field of global security. One of the main topics was Ukraine.

The main discussion document of the forum is a report addressing the global security crisis, armed conflicts, migration issues, climate change, and the development of new technologies. The report is titled "lose-lose" because cooperation between countries is currently decreasing. All are focused on their own interests, and as a result, all involved parties may lose in most of today's crises.

Conference Chairman Christoph Hoysgen noted that this year's report "reflects a downward trend in global politics marked by increasing geopolitical tension and economic uncertainty." He believes that if Putin is not stopped in Ukraine, Russia may unleash a massive war against NATO, with Moldova and the Baltic countries likely becoming the next targets of Kremlin aggression. Therefore, support for Ukraine is a crucial issue for European security.

"We must do everything to ensure that Ukraine receives the weapons and military assistance it needs to successfully resist Russian aggressors and drive them out of its territory," Hoysgen urged.

Attention was also given to Ukraine's accession to the EU and NATO. The EU should specify the idea of a phased entry and reward progress in reforms with gradual access to its institutions and policies. NATO allies should continue bilateral security guarantees during the interim period until accession.

In addition to the importance of assistance to Ukraine, the report also addresses war fatigue and the fact that, over the past two years, fear of Russia in the world has significantly diminished. The authors of the report note that a possible victory for Russia would create a dangerous precedent for conflicts beyond Europe, showing that border integrity no longer exists and that aggression and war crimes are justified and go unpunished.

An important part of the report is information that, in response to growing challenges from authoritarian regimes, liberal democracies are increasing defense budgets and revising cooperation policies. While these actions are crucial in a more competitive environment, they may provoke trade wars or an arms race, including in areas such as nuclear weapons and artificial intelligence.

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