Because of Covid-19 and the war in Ukraine, the routes of trade are no longer defined only by economic reasoning. Nowadays, economic relationships are ever more affected by strategic assessments, such as export limitations in high-tech sectors, aggressive industrial policies and alliances with countries that share the same political values. Is this really the age of “decoupling” or are we going towards a less drastic de-risking, as proposed by President of the Eu Commission, Ursula Von der Leyen?