Contrary to what might be expected, the European Union’s (EU) dependence on Russia has increased since the start of the invasion of Ukraine in February last year. This is the conclusion of a study that the Investigate Europe consortium revealed this Tuesday.
Since the start of the war in Ukraine, the European Union has adopted 11 packages of sanctions against Russia, targeting raw materials such as oil, coal, steel and wood. However, minerals that the EU considers “critical” raw materials – 34 in total – continue to flow freely from Russia to Europe in large quantities, providing crucial funds for state-owned companies and companies owned by oligarchs.
Investigate Europe found that Airbus and other European companies are still buying titanium, nickel, aluminum and other raw materials from companies close to the Kremlin, more than a year after the invasion began.
The consortium of journalists has been investigating these questions for months and on Thursday the in-depth investigation begins: “Mining games: the European search for essential raw materials.”
Between March 2022 and July this year, Europe imported 13.7 billion euros of essential raw materials from Russia. Between January and July 2023, more than €3.7 billion arrived, including €1.2 billion in nickel.
Europe’s current purchases reflect the bloc of 27’s overdependence on much of its critical needs for raw materials and components essential for electric cars, wind and solar energy, as well as the defense and aerospace industries.
Anti-corruption NGO Transparency International told Investigate Europe it was a “very serious mistake” to increase Europe’s dependence on Russia.
This investigation by Investigate Europe highlights the deep problems facing the EU. The need for metals and minerals is increasing globally, making them a centerpiece of Europe’s efforts to go green and achieve climate neutrality.
Source: TSF
