New horizons of the EU S economic security policy

Abstract

Importance: subject: prerequisites and dynamics of changes in the economic policy of the European Union as a response to the crisis in the field of economic security. To protect economic security, it may be necessary to reorganize trade and foreign direct investment, both among the member States of the European Union and with investments from other countries and regional unions, taking into account the changing geopolitical landscape. Purpose: to analyze the policy of the European Union in the field of economic security. Research design: the analysis of EU economic security strategies was carried out: maintaining strategic reserves; increasing domestic production; expanding production capacities in third countries. It is shown that geo-economic fragmentation is also a significant economic risk factor for EU countries in the modern world. The strengthening and development of production potential for environmentally friendly industries and the creation of qualified, wellpaid and promising jobs are analyzed from the point of view of ensuring the prospects for the development of a «green» economy. Results: it is shown that efforts to diversify the supply of minerals will be required to increase the sustainability of the EU economy, however, since the most important raw materials are characterized by a high geographical concentration, diversification is often difficult. Through its actions aimed at ensuring strategic autonomy in the semiconductor sector, the existing data management system and compliance with equipment cybersecurity requirements, the EU strives to ensure economic security by reducing risks and reducing external dependence, paying particular attention to the physical location of mining, production and use facilities critical to the EU economy.