Ukraine eBook Card

Press Release: Supporting Ukraine: More critical than ever

One year after the Russian invasion of Ukraine the war shows no signs of ending. Against the odds, Ukraine continues to resist, but with devastating costs to its people, infrastructure and economy. A new CEPR eBook, edited by Yuriy Gorodnichenko and Vladyslav Rashkovan, brings together contributions from leading researchers and practitioners to present compelling arguments for why Ukraine deserves continued and increased support from its allies.

Aided by external financial and military support, the people of Ukraine have remarkably held firm, struggling to maintain their independence and remain part of a free and democratic Europe. Meanwhile, Russian propaganda has sowed national and international divisions and disrupted the global rules-based order, with the aim of weakening support to Ukraine. Several chapters draw on personal experiences to caution against the spread of authoritarianism, which thrives during periods of conflict and insecurity, and warn that a Russian victory would likely undermine democracy in other regions, especially among post-Soviet nations. Authors also highlight the steady erosion of human rights across the world, and many see the conflict as a litmus test for the global rules-based order to hold perpetrators accountable for war crimes. 

Aside from the moral and humanitarian rationale, the chapters present manifold economic and political reasons for why Russia’s aggression cannot be allowed to succeed. From maintaining the stability of the global financial system, preserving global value chains, and restricting food and energy shortages, the authors underline the economic value of peace in Europe. The increased fraying of geopolitical relations, likely to deteriorate further in the event of a Russian victory, could also have devastating effects on global security and encourage would-be aggressors.  

Overall, the eBook argues that irrespective of one's stance on backing Ukraine, it is likely that supporting the country would serve their best interests. Furthermore, the eBook shows that current measures are having a noticeable effect: sanctions are weakening the Russian economy, and the cost to European economies is manageable. The road ahead is undeniably long, and as Russia transitions towards a military economy, intent on reducing Ukrainian resistance, the support of its allies is more critical than ever.