European Parliament calls for strategic mineral export controls

The European Parliament has approved a report calling for the European Union to restrict certain exports of strategic materials. The goal is to prevent essential resources that could be recycled or reused from leaving the EU territory, thereby supporting domestic industries such as battery manufacturing, electric vehicles, electronics, and defense equipment.

To reduce dependence on foreign suppliers and prevent supply chain disruptions, MEPs proposed reinforcing legislation regarding critical raw materials. This includes introducing clauses that would allow the European Commission to limit the export of permanent magnet waste and scraps used in electric motors and wind turbines.

The initiative also advocates for the creation of a specialized European agency for critical raw materials. This agency would be tasked with market analysis, anticipating supply shortages, organizing joint purchases, and coordinating strategic reserves among Member States. To support these efforts, MEPs suggested a fund of 2 billion euros within the 2028-2034 community budget to bolster resource availability.