EU to stockpile critical minerals in case of war: FT

The European Commission is preparing to boost emergency stockpiles of critical minerals amid heightened concern over supply chain disruptions caused by geopolitical conflicts, the Financial Times reported.

The measure presents a safeguard for the 27-nation bloc in an environment of rising geopolitical tensions marked by conflict, climate change and cyber threats, according to a draft EU document the FT cited on Saturday.  

The commission is advising member states to accelerate work on stockpiling commodities such as rare earth minerals and permanent magnets, which are crucial for energy and defence systems, as well as key items such as cable repair modules. According to an EU executive, nations should also co-ordinate backup supplies of food, medicines and even nuclear fuel.

Risk drivers

The EU document, which is scheduled for publication this week, lists computer hackers, cybercriminals and state-sponsored groups as the main risk drivers. They have threatened underwater communication systems and gas pipelines in recent years. 

The document can help share with countries which vital goods are needed prepare for crises as risks escalate, the FT said. 

The initiative marks a shift in Brussels’s approach to strategic resource resilience, targeting vulnerabilities exposed by war in eastern Europe. Last month, the German chief of defence warned that Russia could attack an EU member state within the next four years, according to the FT report.

In March, the European Commission unveiled its EU Preparedness Union Strategy, urging member states to build up their supply of critical equipment and encouraging citizens to keep at least 72 hours’ worth of essential supplies in case of emergencies.