Hybrid wars of the modern times include aggressive economic actions aimed at diminishing the defender’s ability to counteract hostile attempts to achieve various military and political goals. The Russia-Ukraine confrontation delivers a good example of modern economic warfare. This paper reviews its basic methods and demonstrates that economic aggression comprises a very important component of Russia’s hostile strategy towards Ukraine. It also reveals some specific features of the Ukrainian economy that enable the economic aggression of Russia. The tools of economic warfare are presented as direct and indirect ones. Among the results of economic wars for Ukraine the following are emphasized: untying of Ukrainian economy from the Russian one, redirection of foreign trade towards the EU and Asia, acceleration of structural and economic reforms.