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The erosion of the U.S.-centric global order, heightened confrontation with Russia, and escalating rivalry with China are propelling the United States and the EU towards more intensive cooperation in economic and technological sectors. Coordinating sanctions and other punitive measures against 'revisionist powers' has become a key area of interaction between Washington and Brussels. Remarkably, the US-EU trade and economic relationship has advanced during the Biden presidency, contrasting sharply with the tariff and trade wars of the Trump era. Following a brief decline during the pandemic, US-EU bilateral trade has resumed growing at a rapid pace. Efforts by Washington and Brussels to address challenges posed by emerging technologies coincide with their individual pursuits of unilateral advantages in the race for technological supremacy and a transition to a green economy. While the transatlantic partners are striving for cooperation, this does not preclude potential clashes in their trade and economic interests, especially where there are foundational reasons for intense competition.

Prerequisites for a Russia-Ukraine crisis have been maturing since the end of the Cold War. The conflict derives from a clash of Russian and U.S. interests which were on a collision course since NATO summit decision of 2008 to open doors for Ukraine future membership. The United States neglected Russian warnings that NATO's intention to incorporate Ukraine into the Western military structure is absolutely unacceptable for Moscow since these plans pose a grave threat to Russia's national security. NATO eastwards expansion with a perspective of Ukraine membership in the alliance, as well as the U.S. steps aimed at turning this large post-Soviet country into a sword against Russia made the conflict inevitable. The military campaign on the Ukrainian territory ruined the relations between Russia and the West, though they have been deteriorating for many years. The crisis affected actually all key international players, redefining geopolitical fault lines in the world.