BRUSSELS — EU trade chief Maroš Šefčovič has called for a new “diversification instrument” to help ensure that industry is not dependent on single sources of supply in sensitive sectors such as chips and rare earths.
“Diversification requires a dedicated instrument,” Šefčovič said at the European Policy Center’s Brussels Economic Security Forum on Friday.
“The model I have in mind is the Energy Union — a crucial undertaking for Europe,” said the EU trade chief, citing an initiative that he previously led to break the EU’s reliance on Russian energy after Vladimir Putin’s annexation of Crimea in 2014.
“If it’s critical supplies, you have to have three different suppliers to make sure that you cannot be punished because of a political reason or there might be some kind of industrial problem or something,” said Šefčovič. “It’s a collective mindset.”
