The impact of geopolitical risks on the financial stability of the agricultural sector: a comparative analysis of Ukraine and the countries of the European Union

Authors

DOI:

https://doi.org/10.15587/2706-5448.2026.353121

Keywords:

financial stability, agribusiness, geopolitical risks, financial controlling, credit management, financial engineering

Abstract

The object of the research is the financial resilience of the agricultural sector in Ukraine and selected European Union (EU) countries under geopolitical and macroeconomic risks generating uncertainty in agribusiness. The problem addressed in the article lies in the absence of a unified methodological approach to the quantitative assessment of agricultural financial resilience under geopolitical risks, as well as limited comparability of results between Ukraine and EU countries. The findings indicate a statistically significant negative impact of geopolitical risks, currency volatility, and debt burden on the financial resilience of the agricultural sector. A persistent structural gap between Ukraine and EU countries has been identified: the average integral financial resilience index for Ukraine is approximately 0.38, compared to about 0.54 in EU countries. The patterns revealed in the study are explained by external risks affecting Ukraine’s agricultural sector. In contrast, higher financial resilience in EU countries is driven by a stable macroeconomic environment, diversified export structure, and institutional support mechanisms for agribusiness. A distinctive feature of the results is the integration of a balanced panel dataset with calculation of an integral financial resilience index based on normalized financial and institutional indicators. The practical application of the proposed index covers agricultural enterprises and financial management systems within the sector. The results are applicable under geopolitical risk conditions to assess financial resilience, evaluate risk impacts, and support informed managerial decisions.

Author Biographies

Tаtyana Kuzenko, Simon Kuznets Kharkiv National University of Economics

PhD, Associate Professor

Department of Finance and Credit

 

Nataliіa Sablina, Simon Kuznets Kharkiv National University of Economics

PhD, Associate Professor

Department of Finance and Credit

Maksym Voloschuk, Institute of Animal Husbandry of the National Academy of Agrarian Sciences of Ukraine

PhD

Oleg Glushkov, Odessa National Technological University

PhD, Associate Professor, Director of the Separate Structural Unit

Professional College of Oil and Gas Technologies, Engineering and Service Infrastructure

 

Olena Drugova, Simon Kuznets Kharkiv National University of Economics

Doctor of Economics, Associate Professor

Department of Management, Business and Administration

Oleksandr Sherstyuk, Institute of Animal Husbandry of the National Academy of Agrarian Sciences of Ukraine

PhD

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The impact of geopolitical risks on the financial stability of the agricultural sector: a comparative analysis of Ukraine and the countries of the European Union

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Published

2026-02-28

How to Cite

Kuzenko, T., Sablina, N., Voloschuk, M., Glushkov, O., Drugova, O., & Sherstyuk, O. . (2026). The impact of geopolitical risks on the financial stability of the agricultural sector: a comparative analysis of Ukraine and the countries of the European Union. Technology Audit and Production Reserves, 1(4(87), 98–107. https://doi.org/10.15587/2706-5448.2026.353121

Issue

Vol. 1 No. 4(87) (2026): Economics of enterprises. Macroeconomics

Section

Development of Productive Forces and Regional Economy

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Copyright (c) 2026 Tаtyana Kuzenko, Nataliіa Sablina, Maksym Voloschuk, Oleg Glushkov, Olena Drugova, Oleksandr Sherstyuk

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