US, EU sign strategic partnership on critical minerals supply chains

The United States and the European Union have signed a Memorandum of Understanding establishing a strategic partnership aimed at strengthening the resilience of critical mineral supply chains.

The signing ceremony took place in Washington, according to the U.S. Department of State. The document was signed by US Secretary of State Marco Rubio and EU Trade Commissioner Maroš Šefčovič.

Rubio подчеркнул the importance of diversifying supply chains for critical minerals in order to prevent excessive concentration of production in a single region.

“The over-concentration of these resources and the fact that they’re dominated by one or two places is an unacceptable risk. We need diversity in our supply chains, diversity in the places we get critical minerals. And this Memorandum of Understanding, which isn’t just going to be a piece of paper – it’s going to be brought to life through real action. These are going to be important for the economic vibrancy of all of our economies, the global economy really, but also to the security of our countries,” Rubio noted.

Šefčovič emphasised that the agreement is intended to go beyond a formal document and serve as a foundation for concrete initiatives that will benefit businesses on both sides of the Atlantic.

“I totally agree with Mr. Secretary that now the real test will be the execution of this project, how can we transform this agreement which we are signing into the concrete, tangible project to deliver for our business operators.”

By Tamilla Hasanova