The European Commission plans to establish strategic reserves for rare earths and lithium. Commission chief Ursula von der Leyen justifies the project by saying that re-dependence “as with oil and gas” should be avoided.
Currently, the EU gets most of the rare earths and lithium from China. In any case, in the first half of this year, the import of liquefied gas from China to Europe also increased sharply. After the outbreak of the war, the Asian country offered itself as a replacement supplier in Ukraine.
However, some observers noted critically that these imports could possibly be Russian natural gas, as imports from Russia to China had also increased at the same time. But because of the lockdowns and the strict Covid-19 policy, there was not much demand for Russian energy there.
The needs of the European Union special Soil will increase fivefold by 2030, von der Leyen predicted during her State of the Union address to the EU parliament on Wednesday. Lithium is needed for the production of, for example, batteries and accumulators. special Soil is the name for a range of metals needed for the manufacture of many high-tech products – including the construction of wind turbines or electric vehicles.
Trade relations with “like-minded partners”
In addition to the strategic reserves, to be flanked by a security of supply law, the Commission wants to expand trade relations with “like-minded partners”. In particular, von der Leyen mentioned the ratification of trade agreements with Chile, Mexico and New Zealand. Negotiations with Australia and India should also continue.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
