As a result of the energy transition and digitalisation, the demand for raw materials is increasing drastically. At the same time, the raw materials markets are particularly tense due to the war in Ukraine and supply shortages are possible. Against this backdrop, the European Commission’s fourth list of critical raw materials and its action plan to promote resilient raw material supply chains, both published in September 2020, are of great political importance. So-called critical raw materials play an important role in the economy of the European Union (EU) but are also subject to a high supply risk. This journal review examines questions about the extent to which the objectives of the EU’s policy on critical raw materials are compatible with its other aims. It also discusses how intergovernmental cooperation in the extractive sector is practiced and the role of EU member states in the process. Ultimately, it also explores the geopolitical importance of critical raw materials for European projects for the future, a topic that has become all the more pertinent in view of the current debate on achieving energy independence from Russia. …read more
Source:: German Institute for International and Security Affairs