Abstract: International Journal of Blockchain Applications and Financial Technology

Abstract:
Critical materials-are raw materials for which there are no viable substitutes with current renewable tech nologies, for which most consumers depend on imports, but the supply is continuously changing (regarding dominant producing countries) with the exception of China which dominates global production of rare earth elements. Critical materials currently used for the production of renewable energy with low carbon emissions are rare earth elements (REE) and other metals, such as cobalt and lithium. Critical materials create geopo litical competition. China is the world leader. It currently produces 63% of the world’s REE, holds 36% of the world reserves, provides 98% of the European Union’s REE supply and 80% of the US’s. Our article represents a syntetic documentary of the international literature in this field being structured on three chapters and con clusions: 1) The role of rare earth elements in current geopolitics; 2) Geopolitical competition over critical materials in the transition to renewable energies and 3) Rare earths from Ukraine: partnership with EU and agreement with USA.