Recent debates within Women, Peace and Security (WPS) scholarship (e.g., Bergeron, Cohn, and Duncanson 2017; Elias 2015; True 2015) have underlined the need to position the WPS agenda in the context of broader feminist security analysis as defined by early feminist international relations scholars (e.g., Tickner 1992). More precisely, this requires integrating feminist security studies (FSS) and feminist political economy (FPE). At the center of these largely theoretical reflections is a concern that gender-responsive peace-building efforts have too often been undermined by postwar neoliberal economic processes. This essay provides an empirical contribution to this debate, taking the case study of Ukraine as an atypical example of how WPS has been adopted and implemented for the first time during an active conflict. The integration of FPE and FSS proves especially relevant for a country in conflict, where economic austerity policies come along with increased military expenditure. The essay illustrates that the bridging of security and economy is entirely absent in Ukraine's WPS agenda, which has largely prioritized military security while failing to connect it to the austerity policies and the gendered structural inequalities deepened by the ongoing conflict.