The European Commission proposes to create strategic reserves of rare earth elements
The European Commission suggested that EU member states create strategic reserves of rare earth elements, products and repair equipment for infrastructure. Such a step is connected with the growth of geopolitical threats, informs Financial Times with reference to the project of the corresponding EC strategy.
“The EU faces an increasingly complex and worsening risk landscape characterized by rising geopolitical tensions, including conflict, the growing impact of climate change, environmental degradation, and hybrid and cyber threats,” – the document says.
The proposal involves not only stockpiling rare earth metals, which are critical to the defense sector and green energy, but also ensuring the availability of spare parts for power or fiber optic systems required for rapid recovery in the event of damage.
The European Commission also considers it important to establish coordination between countries regarding the formation of joint stocks of food products, medicines and even nuclear fuel. All these initiatives are elements of a broader program to strengthen the European Union’s resilience to external shocks and infrastructural threats.
We will remind you that on July 3, President of Ukraine Volodymyr Zelenskyi signed the law on amendments to the Budget Code for the implementation of the intergovernmental agreement between Ukraine and the United States on mineral resources (draft law No. 13256).
