Securing Critical Raw Materials in the EU: Reducing Vulnerabilities in the Middle of Geopolitical Tensions

The increasing reliance on critical raw materials (CRMs), such as rare earth elements, cobalt and lithium is a pressing challenge for the European Union (EU) mainly from the strategic sovereignty point of view.These materials are crucial for the production of advanced technologies, including digital assets, renewable energy systems, electric vehicles and defence equipment.However, the deposits of these CRMs are concentrated in a few countries, raising concerns about supply chain security and geopolitical dependencies.This paper explores the current state of policy on the European level, Hungary's national interest in the CRM sector, and proposes actionable recommendations to face the challenges.The analysis focuses on addressing economic, legal and environmental challenges associated with CRMs, including supply chain vulnerabilities, sustainable sourcing practices, cooperation and regulatory frameworks, all of which are further complicated by geopolitical pressures in the shadow of ongoing global tensions.