Abstract: The COVID-19 pandemic and coronacrisis have clearly exposed the strong dependence of modern companies on the approaches towards data management, stability of information networks and digitalization, as well as significantly strengthened the assertion of the Europeans in the need to achieve strategic autonomy with regards to development of the own digital solutions. The article aims to determine the place of the European Union in the international information and communication space in the context of global data management policy. Research methodology leans on the principles of the multi-paradigm method used for extrapolating some provisions of Robert Gilpin’s hegemonic stability theory on the modern technological competition among the countries on the international arena within the framework of regional approach. The article examines the term “information sovereignty” based on the principles of international law in a constantly changing international environment. The research addresses such documents as “New Industrial Strategy for Europe”, “European Data Strategy”, and the decision of the European Court of Justice concerning the Transatlantic Privacy Shield Agreement. As an example of the European digital policy, the author examines the ambitious GAIA-X project intended to create an open digital ecosystem and develop common requirements for the European data infrastructure. The article formulates the recommendations aimed at ensuring effective management in the digital sector, and offers the model of multilateral participation, which would allow reaching information sovereignty based on the European values and ideals.