As the communist regime in China continues to use rare earths as leverage in geopolitics against the free world, a European Union (EU) commissioner called on member countries to establish a joint rare earth reserve to mitigate future economic blackmail and supply chain disruption by Beijing.
“All European countries today have strategic reserves for oil and gas. We should do the same for strategic raw materials,” the EU executive vice president for prosperity and industrial strategy, Stéphane Séjourné of France, told German newspaper Handelsblatt on June 23.