The geoeconomic turn: European Union economic security in an era of global fragmentation

This article examines the current geoeconomic turn and the evolution of the European Union’s economic security concept within the context of an increasingly fragmenting global order. It proceeds from the premise that economic security has emerged as a pivotal dimension of the Union’s broader security and geopolitical framework, reflecting the deepening nexus between economic interdependence and strategic competition. Drawing on a qualitative analysis of EU strategic documents and relevant scientific and academic literature, the paper explores how economic security is conceptualised in European political discourse and identifies how this approach diverges from those of other major global actors. Particular attention is devoted to the architecture and primary instruments of the European Economic Security Strategy—including foreign direct investment screening, export controls, technological security, and supply chain protection—while highlighting the inherent tensions between openness, competitiveness, and security. Ultimately, the article interprets the concept of ‘open economic security’ as a specific European response to systemic risks and power asymmetries in the global economy.