The European Commission adopted the RESourceEU Action Plan to help secure the EU's supply of critical raw materials (CRMs), like rare earth elements, cobalt and lithium, for key industrial sectors.
The plan, which was announced at the Berlin Global Dialogue in October, builds on the Critical Raw Materials Act (CRMA) and seeks to fast-track relevant projects and reduce strategic dependencies.
In order to protect the European industry from geopolitical and price shocks, the Commission will set up a European Critical Raw Materials Centre in early 2026. The centre will develop intelligence on CRMs value chains to inform European and national actions on investment, stockpiling and joint purchasing. In addition, the Raw Materials Platform will support companies in aggregating demand and securing offtake agreements. The Commission is also working with member states on a coordinated EU approach to CRM stockpiling, with a pilot scheme to become operational early next year.
Over the next 12 months, the EU will mobilise up to EUR 3 billion (USD 3.5bn) to back concrete projects that can provide alternative supplies in the short term. The Commission noted that, together with the European Investment Bank and member states, it is already unlocking financial support for priority projects, such as Vulcan's lithium extraction project in Germany and Greenland Resources' Malmbjerg molybdenum project.
The RESourceEU Action Plan also includes increasing cooperation with like-minded partners to diversify supply and accelerate industrial cooperation.
“Today, Europe acts on its independence in critical raw materials. With the RESourceEU Action Plan, we are equipping ourselves with the tools we need to accelerate our own production, and diversify our supply, of critical raw materials. This ranges from new financing to facilitated regulatory procedures, all the way to reinforced & new international partnerships. In this global race for the materials our industries need the most, RESourceEU is an engine of our industrial sovereignty. A cornerstone of Europe’s economic security,” said Stephane Sejourne, Executive Vice-President for Prosperity and Industrial Strategy.
Simultaneously, it was announced today that the EU will permanently stop Russian gas imports and phase out Russian oil under a provisional political agreement by the European Parliament and the Council.
The agreement calls for a gradual but permanent end of Russian gas imports, with LNG supplies to be phased out by December 31, 2026 and pipeline gas by September 30, 2027. Exceptionally, member states may extend the deadline until October 31, 2027.
By November 2027 at the latest, the EU will have phased out, once and for all, Russian gas imports, the Commission stated.
