EU wants to create strategic reserves of rare earth elements – FT
The European Commission is proposing that EU member states form emergency stocks of critical minerals, products, and equipment for infrastructure repair. The reason is the growing geopolitical risks, writes Financial Times with reference to the draft strategy of the EC.
"The EU is facing an increasingly complex and challenging risk landscape, characterized by rising geopolitical tensions, including conflicts, the growing impact of climate change, environmental degradation, and hybrid and cyber threats," the document says.
It is not only about rare earth elements needed for the defense industry and green energy, but also about spare parts for power or optical cables that may be needed to quickly repair damage.
The European Commission also considers it advisable to coordinate food, medicine, and even nuclear fuel stocks between countries. These initiatives are part of a broader plan to increase the EU's resilience to external shocks and infrastructure threats.
- The war in Ukraine and the growing demand for arms have dramatically changed the situation on the global metals market.
- President Volodymyr Zelenskyy On July 3, signed a law amending the Budget Code to implement the intergovernmental agreement on minerals between Ukraine and the United States (draft law No. 13256).
