This study presents a multi-scenario assessment of climate and economic risks affecting food security in seven European countries (Ukraine, Poland, Spain, France, the Netherlands, Italy, and Hungary). The conceptual framework follows the vulnerability–resilience paradigm, considering food system resilience as a function of exposure, sensitivity, and adaptive capacity. Although food security has been widely studied, the literature rarely quantifies delayed effects under compound risk scenarios, highlighting a gap in multifactorial modelling approaches. The study introduces a methodological contribution by integrating dynamic lag modelling with Monte Carlo simulations to assess short- and long-term effects of climate and economic risks on food security in Europe. The analytical approach comprises composite risk index construction using Principal Component Analysis (PCA), a distributed lag model, and a 10,000-iteration simulation procedure. Data were compiled from FAO, OECD, Economist Impact, Eurostat, and EEA open-access sources. The results reveal significant spatial heterogeneity in risk exposure: Ukraine (72%), Hungary (68%), and Poland (61%) show the highest probability of exceeding the critical food insecurity threshold (index <0.3), while the Netherlands exhibits a much lower probability (19%). The combined scenario amplifies adverse effects and indicates a heightened risk of systemic instability. The methodological novelty lies in the integration of lagged econometric modelling and scenario-based simulation, enabling simultaneous temporal and spatial analysis. The findings underscore the need for adaptive, regionally targeted food security policies that consider both cumulative and delayed responses to external shocks.