Lessons are not given, they are taken, said Cesare Pavese.
And even this beginning of 2026 is offering the citizens of the West first and foremost, but of the world in any case, historical lessons. From Ukraine to Iran, via China.
The value of living in Western liberal democracies remains inestimable: it is no coincidence that the queues of human beings are moving towards open societies and not towards regimes or democracies.

The criminal invasion of Ukraine has put everyone back in front of an old challenge: that between the free world and illiberal regimes, that between democracies and their fierce alternatives.

It still happens, and we see it daily, with the images of the Ukrainian people’s battle for self-determination, with their democracy at stake. Which are our core values on which we have built our European societies, generating wealth and multiplying opportunities for prosperity, as free citizens.

With Tetiana Korotka, who was appointed Knight of the Order of the Star of Italy in 2020, we collect valuable reflections on the political and economic consequences of the Russian invasion for both Ukraine and Europe.
Ukrainian-Italian economic and cultural ties developed well before the war and will become even stronger after it, even with integration into the European family.

Tetiana Korotka has been working as Deputy Ombudsman for Business since 2015, and therefore frequently deals with the Ukrainian government with regard to economic issues, public administration and reforms.

What kind of work is the Ukrainian government doing?

Based on our work with businesses, we observe that the Ukrainian government is operating on two parallel tracks: maintaining economic stability under wartime conditions while preparing for recovery and EU integration.

This includes supporting critical sectors such as energy and infrastructure, improving the business environment, and aligning regulations with EU standards.

At the same time, Ukraine is working closely with international partners – including Italy – to mobilise financing and expertise. The Ukraine Recovery Conference held in Italy last year was an important milestone in strengthening this cooperation and engaging international partners in reconstruction efforts. The key challenge is not only mobilising capital, but ensuring that it translates into real projects and implementation on the ground.

Which milestones have been achieved?

Despite the war, Ukraine has managed to maintain macroeconomic stability and keep key sectors of the economy functioning.

Critical infrastructure has been restored under extremely difficult conditions, and international support has reached unprecedented levels. For example, in 2025 the EBRD alone mobilised around €2.9 billion for Ukraine’s economy, including trade finance and grants.

We also see growing engagement from European businesses, including Italian companies, particularly in sectors such as energy, infrastructure and manufacturing.

What future prospects can we imagine? There will be a need to rebuild the country’s infrastructure and economic life…

Ukraine’s recovery will be closely linked to its European integration.

At the same time, security remains the first and fundamental condition for any recovery and investment. Without a stable and secure environment, it is very difficult for businesses to commit capital and for projects to move forward.

The focus is therefore not only on rebuilding infrastructure, but on ensuring the resilience of critical systems –  particularly energy, transport and logistics – which are essential for economic activity.

This will require attracting private investment at scale. To achieve this, the priority is to ensure predictable rules, efficient project preparation, and the ability to implement projects quickly.

Building on the momentum of the Ukraine Recovery Conference in Italy, there is a clear opportunity to deepen cooperation with European partners, including Italian businesses, in reconstruction and long-term economic development.

Many, indeed too many, had underestimated what an unscrupulous former KGB colonel in the Kremlin can be. Reality has fiercely reminded us of this. And you Ukrainians are on the front line defending freedom and showing us Italians and Europeans how much is at stake. What have you learnt?

One of the key lessons is that security and economic resilience are deeply interconnected.

Ukraine’s experience shows that even under extreme conditions, economic activity can be sustained – but this depends on the functioning of critical infrastructure and the ability of institutions to adapt quickly.

At the same time, resilience is not only institutional –  it is also societal. The level of self-organisation, mutual support and adaptability of people and businesses has played a crucial role in maintaining economic continuity.

This experience has also demonstrated the importance of international cooperation. Support from European partners, including Italy, has been essential in sustaining both stability and long-term recovery efforts.

Luigi Einaudi wrote that ‘above all else, it is necessary to destroy the ideas from which war originated. Among which ideas fertile with evil, if carried to their extreme consequences, that of the dogma of absolute and perfect sovereignty in itself is most evil’.

I guess that Luigi Einaudi highlighted the importance of rules-based international cooperation, which is at the core of the European project.

At the same time, today’s reality also reminds us that security is a prerequisite for sustainable development and economic progress. Without security, it is difficult to ensure stability, attract investment, and build long-term partnerships.

For Ukraine, the path forward is therefore twofold: strengthening institutions and aligning with European standards, while also ensuring the resilience of critical infrastructure and economic systems.

In practical terms, this means creating an environment where businesses -including European companies – can operate with confidence, invest, and contribute to long-term economic development.