Yes, and just to be even clearer, it’s not about politics, rights agreements etc..it is about the (remote to be honest) possibility that your hard earned ATPL valid in the whole of Europe, could now be valid in ONE country only. You cannot apply for any jobs that flies non G- aircraft. You would be exactly the same as a pilot with a namibian or guatemalan licence.
To even considering risking something like this requires serious patriotism!