The EU should respond to the Russian threat to Ukraine by making use of its main strength – economic influence. There is no other way for the union to persuade the great powers struggling over Europe’s future that it is a force to be reckoned with.

Russia marshalled tanks, drones, paratroopers and ships as part of a new show of force in its drive to secure “security guarantees” focusing on undertakings to ensure no further eastward expansion of NATO.

The consumer price index rose by 10 percent year-on-year in 2021, up from 5 percent a year earlier.