Latvia’s central bank governor Mārtiņš Kazāks has warned European policymakers against complacency, arguing Europe is already engaged in a non-kinetic conflict with Russia.
Speaking to the Financial Times, the European Central Bank Governing Council member said: “It’s naive to think that we are not at war [with Russia].” He cited persistent cyber attacks, Baltic Sea cable sabotage and drone incursions into Danish airspace, noting the conflict is not “physically on our ground” but constant.
“We need to be resilient to deal with that,” Kazāks said.
Key developments
• Kazāks is a 2026 contender to succeed Luis de Guindos as ECB Vice-President.
• Latvia has expanded contingency planning, including generator-backed ATMs and “offline physical card payments” for essentials.
• NATO has strengthened its presence in Latvia, which borders Russia.
While direct conflict risks are “marginal”, Kazāks said Europe must boost resilience to deter escalation and ensure Russia “does not win in Ukraine.”
Follow on social media TikTok@tut0ughInstagram@tut0ugh Threads@tut0ugh X@tut0ugh YouTube@tut0ugh
tut0ugh 