The writer is a fellow at the American Enterprise Institute, a think-tank

War is an indisputably frightening spectre. But while Russian troops mass on the border with Ukraine, we should not lose sight of the fact that states seeking to intimidate and punish their adversaries are much more likely to use non-military methods, from cyber attacks to intellectual property theft to stealthy acquisitions of companies developing sensitive technologies.

This so-called greyzone aggression, which falls below the threshold of formal conflict, takes place every day. Increasingly, companies are the target. A new survey by international insurance broker WTW, due out next month, reveals profound industry concern about being caught in the greyzone crossfire.