Several key minerals that are essential inputs for digital and renewable energy technologies face high exposure to export restrictions, and the number of restrictions continues to rise, a new OECD report finds.
The annual update of the OECD Inventory of Export Restrictions on Critical Raw Materials tracks export restrictions and supports analysis of their impact on availability, prices and global supply chains. The OECD continues to monitor these measures over time. The latest edition, which analyses measures implemented through the end of 2024, shows that export restrictions on critical raw materials have increased steadily in the past 15 years, reaching an all-time high. Although the growth rate of new export restrictions slowed from 3.4% in 2023 to 0.6% in 2024, a wider range of countries, particularly in Africa and Asia, introduced new restrictions.
Some minerals essential for energy systems, such as cobalt, manganese, graphite and rare-earth elements, saw particularly high exposure to export restrictions. Roughly 70% of global exports of cobalt and manganese were subject to at least one export restriction between 2022 and 2024. 16% of trade in critical raw materials monitored by the OECD faced at least one export restriction over the same period.
“Countries around the world depend on reliable access to critical raw materials for economic growth, innovation and energy security,” OECD Secretary-General Mathias Cormann said at the OECD Critical Minerals Forum in Istanbul. “Export restrictions can increase supply chain vulnerabilities in highly concentrated supply chains by limiting export volumes and driving up prices. Improving transparency on these measures is key to promoting more open and diversified markets for critical minerals, incentivising much needed investment to scale up production and promoting mutually beneficial partnerships with producer countries.”
Click here to see the chart.
While demand for critical raw materials is rising rapidly, supply remains slow to adjust and highly concentrated. Although the leading producers differ by material, the top three countries for each of cobalt, lithium and nickel account for over two-thirds of global production, rising to nearly 90% for rare earth elements. There is also concentration in the policy measures adopted, with India (19%), China (17%), Argentina (6%), Viet Nam (5%) and Burundi (4%) accounting for over half of all new measures implemented between 2009 and 2024.
Waste and scrap materials remain the most frequently restricted category of critical raw materials in 2024, reflecting both environmental concerns and growing interest in the circular economy as a source of metals and minerals. In addition, export restrictions on upstream supply chains, such as ores and minerals, grew sharply between 2009 and 2024, having increased tenfold during this period.
Highly restrictive measures, such as export prohibitions and quotas, have become increasingly prevalent, accounting for more than one-third of new measures in 2024. Revenue generation has been the fastest-growing stated rationale behind export restrictions since the early 2010s and became the most cited reason in 2024, accounting for nearly half of measures.
For more information on OECD work on export restrictions on critical raw materials, visit https://www.oecd.org/en/topics/sub-issues/export-restrictions-on-critical-raw-materials.html.
The OECD provides data, analysis and platforms for dialogue to build more resilient and well-functioning critical raw material supply chains, including to help unlock new critical mineral supply chain investment, support economic growth and development in producer and consumer countries, and protect mine workers’ human rights and the environment. For more information, visit: https://www.oecd.org/en/topics/policy-issues/critical-minerals.html.
 
 

Compliments of the Organisation for Economic Co-operation and Development

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The European Commission today presented its plan to modernise EU lawmaking, ensuring that laws are clearer, simpler, more efficiently enforced, based on solid evidence and better aligned with the needs of citizens and businesses.
Ursula von der Leyen, President of the European Commission, said: “Europe needs clear and coherent legislation that fully responds to the needs of our citizens and businesses. Today, we deliver our plan to make EU lawmaking more efficient, more effective, and more transparent. We will apply simplicity by design and continue to ensure every rule is supported by strong evidence. But that’s not all: we will also tackle gold-plating, speed up enforcement and clean up our current stock of legislation. This is a critical contribution to bolster our competitiveness.”
The Commission will act in five areas:

Simplicity by design: EU laws must be easy to understand, apply and enforce. The Commission aims to embed ‘simplicity by design’ into every proposal, ensuring clarity on who must act, how to comply, and the consequences of non-compliance.
Strengthening the better regulation framework: the better regulation system sets out the principles that the European Commission follows when preparing new initiatives. It is already among the most advanced in the world. It will be further improved to enhance transparency, stakeholder engagement and efficiency.
Regulatory deep cleaning: while the Union continues to pursue ambitious policies, it must also put its large stock of existing legislation in order. An Action Plan will tackle inconsistencies, overlapping and overly complex provisions in 12 priority areas.
Tackling regulatory gold-plating: the Commission will help Member States identify and tackle unnecessary complexity and barriers to the Single Market where they apply stricter or more extensive requirements than those set out in EU law.
Faster, robust enforcement: the Commission will strengthen enforcement of the Single Market rulebook in selected policy areas. A focus will also be placed on reducing the number of long-standing infringement cases.

At a time of profound global shifts, an efficient and effective regulatory framework is essential for European competitiveness. Simpler, better-designed, and easier-to-implement rules will therefore help to unlock economic potential and promote a more dynamic and integrated Single Market.
The European Parliament and the Council are essential partners in helping to make the objectives outlined in this Communication a reality. To that end, the Commission calls on the co-legislators to ensure that ‘simplicity by design’ and better regulation principles are applied consistently, by each Institution, during every legislative process.
Today’s Communication builds on President von der Leyen‘s Political Guidelines for 2024-2029, the commitments she made at the Leaders’ Retreat on 12 February 2026, and the Communication ‘A Simpler and Faster Europe‘.The post European Commission | Proposal of a Plan for Simpler, Clearer and Better Enforced EU Rules first appeared on European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources.

Commodity prices forecast to rise by 16% this year, fueling inflation and slowing growth. 
Energy prices are projected to surge by 24% this year to their highest level since Russia’s invasion of Ukraine in 2022, as the war in the Middle East sends a severe shock through global commodity markets, according to the World Bank Group’s latest Commodity Markets Outlook. Overall commodity prices are forecast to rise 16% in 2026, driven by soaring energy and fertilizer prices and record-high prices for several key metals.
The shock will have serious implications for job creation and development, the analysis indicates.
Attacks on energy infrastructure and shipping disruptions in the Strait of Hormuz, which handles about 35% of global seaborne crude oil trade, have triggered the largest oil supply shock on record, with an initial reduction in global oil supply of about 10 million barrels per day. Even after moderating from their recent peak, Brent oil prices remained more than 50% higher in mid-April than they were at the start of the year. Brent oil is forecast to average $86 a barrel in 2026, up sharply from $69 a barrel in 2025. These forecasts assume that the most acute disruptions end in May and that shipping through the Strait of Hormuz gradually returns to pre-war levels by late 2026.
“The war is hitting the global economy in cumulative waves: first through higher energy prices, then higher food prices, and finally, higher inflation, which will push up interest rates and make debt even more expensive,” said Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice President for Development Economics. “The poorest people, who spend the highest share of their income on food and fuels, will be hit the hardest, as will developing economies already struggling under heavy debt burdens. All of this is a reminder of a stark truth: war is development in reverse.”
Fertilizer prices are projected to increase by 31% in 2026, driven by a 60% jump in urea prices. Fertilizer affordability will fall to its worst level since 2022, eroding farmers’ incomes and threatening future crop yields. If the conflict proves more prolonged, these pressures on food supply and affordability could push up to 45 million more people into acute food insecurity this year, according to the World Food Programme.
Prices for base metals, including aluminum, copper, and tin, are also expected to reach all-time highs, reflecting strong demand related to industries including data centers, electric vehicles, and renewable energy. Precious metals continue to break price and volatility records, with average prices forecast to increase 42% in 2026, as geopolitical uncertainty fuels demand for safe-haven assets.
Rising commodity prices caused by these shocks will increase inflation and dampen growth worldwide. In developing economies, inflation is now projected to average 5.1% in 2026 under the baseline assumptions—a full percentage point higher than was expected before the war and an increase from 4.7% last year. Growth in developing economies will also deteriorate as higher prices for essentials weigh on incomes and exports from the Middle East face sharp curbs. Developing economies are expected to grow by 3.6% in 2026, a downward revision of 0.4 percentage point since January. Economies directly impacted by conflict will be hardest hit, and 70% of commodity importers and more than 60% of commodity exporters worldwide could see weaker growth than was projected in January.
Commodity prices could rise even higher if hostilities escalate or supply disruptions from the war last longer than projected. Brent oil prices could average as high as $115 a barrel in 2026 in a scenario where critical oil and gas facilities suffer more damage and export volumes are slow to recover. This in turn would have ripple effects on prices for fertilizer and alternative energy sources such as biofuels. Under this scenario, inflation in developing economies could rise to 5.8% this year, a level exceeded only in 2022 over the past decade.
“The succession of shocks over the decade has sharply reduced the fiscal space available to respond to the current historic energy supply crisis,” said Ayhan Kose, the World Bank’s Deputy Chief Economist and Director of the Prospects Group. “Governments must resist the temptation of broad, untargeted fiscal support measures that could distort markets and erode fiscal buffers. Instead, they should focus on rapid, temporary support targeted to the most vulnerable households.”
The report’s special focus finds that oil-price volatility during periods of rising geopolitical risk is roughly twice as high as during calmer periods, with a geopolitically driven 1% decline in oil production pushing prices up by an average of 11.5%. Critically, these effects spill over into other key commodity markets, with an impact roughly 50% larger than under normal market conditions. According to the report, a 10% oil price increase triggered by a geopolitical supply shock leads to natural gas price increases peaking at about 7% and fertilizer price increases peaking at over 5%. These peaks typically occur about a year after the initial oil price shock, with adverse consequences for food security and poverty reduction.
 
 
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European Card Payment Cooperation (ECPC), nexo standards and Berlin Group to work with ECB to implement digital euro
Standards to allow European payment solutions to minimise costs, expand geographical reach and diversify use cases
Adoption of the digital euro regulation by co-legislators to unlock potential and provide certainty for market actors’ future investments in payments

The European Central Bank (ECB) has signed agreements with three European standard‑setting organisations – ECPC, nexo standards and the Berlin Group – to reuse these existing open technical standards, accessible to all stakeholders, for processing digital euro online payments.
The standards include:

CPACE standards, developed by ECPC, support contactless “tap‑to‑pay” payments using near‑field communication between a payment device and a payment terminal;
nexo standards specifications connect merchants’ systems with the back-end systems of payment service providers and acquirers. They are used, for example, to support payment acceptance and cash-machine transactions;
Berlin Group standards allow payments to be made using an alias (such as a mobile phone number) and support balance checks and reconciliation across mobile devices and payment acceptance in areas like digital euro transactions initiated in merchant apps on smartphones.

By leveraging these open standards and working closely with the respective standardisation bodies, the ECB minimises adoption costs for the market and encourages early coordination among all involved players, including payment service providers and standardisation entities.
Free access, cost minimisation and coordination are particularly important as Europe currently lacks a universally available open standard supported across payment terminals and depends heavily on proprietary standards owned by international card schemes and global digital wallets. Using widely adopted European standards will simplify digital euro acceptance and create a uniform user experience across the euro area, while enabling European payment schemes to expand geographically and diversify use cases. With this approach, for instance, a national card scheme could expand its operations to point-of-sale (POS) environments outside its home market without requiring technical POS terminal upgrades.
The benefits of the digital euro standard will materialise ahead of digital euro issuance. Once EU co-legislators adopt the digital euro Regulation, providing certainty that the standards will apply across the euro area given the digital euro’s legal tender status, European payment solutions providers would be able to scale up beyond national borders. Adoption of the Regulation will provide market actors with certainty for their future investments and reduce Europe’s current dependencies in the area of payments.
“This partnership shows our strong commitment to making sure the digital euro works with existing European standards that the private sector can also use,” said ECB Executive Board member Piero Cipollone, who chairs the High-Level Task Force on a digital euro. “The open digital euro standards will provide a European free alternative to current proprietary standards, make it easier for new European providers to enter the market and give European payment service providers and merchants the certainty they need to invest, innovate and compete across the euro area.”
Ana Grade, CEO of ECPC, stated: “ECPC is very pleased with this bilateral agreement with the ECB on the use of the CPACE standard for the digital euro project, which will further enhance the standard’s visibility and market presence.”
Jean-Philippe Joliveau, Chairman of the Board of nexo standards, added: “We are very proud to collaborate with the ECB on the digital euro project. This cooperation confirms the position of nexo standards as an international and collaborative standardisation body for payment acceptance, supporting interoperability across the payments ecosystem.”
Markus Schierack, Managing Director of SRC, commented: “We welcome the ECB’s decision to engage with the Berlin Group. Open standards are the foundation of a competitive and interoperable European payments market. The ECB’s participation in our standards process is a positive step for the broader ecosystem.”
The standards were selected together with market participants represented in the Rulebook Development Group and fulfil the goals of the Eurosystem payments strategy. Additional standards could follow in the future, subject to approval by the ECB’s Governing Council.
Notes
Payment standards are the technical foundation for insuring unified communication between payment service providers (PSPs) and payment infrastructures. They ensure that participants can exchange and execute transactions using the same “technical language”. Common standards reduce complexity, streamline processes and lower integration and operating costs for consumers, merchants, PSPs and financial institutions. They also provide a shared framework that supports innovation, competition and market integration
About ECPC:
ECPC is a cooperative company, founded in 2020 by six European firms (from France, Germany, Belgium, Bulgaria, Spain and Portugal) that manage payment solutions. ECPC aims to create, maintain and develop a European independent standard for contactless payments, CPACE, from conception to certification, which interested parties may use free of charge. The standard’s market acceptance and footprint are very positive in Europe and beyond, with major vendors implementing and certifying CPACE-compatible products, both on the payment side (card/wallets) and on the payee side (terminals/mobile devices).
About nexo standards:
nexo standards is an international non-profit association headquartered in Brussels, Belgium. As a community of leading payment experts, its mission is to define, publish and promote global payment acceptance standards and supporting services that ensure interoperability between acceptance and acquiring solutions, integrated retail and terminal management systems.
About the Berlin Group:
The Berlin Group is a pan-European payments interoperability standards and harmonisation initiative that has the primary objective of defining open and common standards in the interbank domain. The Berlin Group is widely recognised for its API framework standards that support PSD2-compliant open banking and open finance. Its standards have been implemented by approximately 80% of the European market, as well as elsewhere. The Berlin Group is not a formal legal entity; SRC Security Research and Consulting GmbH acts as its Secretariat and Editorial Lead.
 
 
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Today marks the 10th anniversary of the GDPR’s adoption, the first comprehensive data protection framework spanning an entire continent, establishing clear rights for individuals and obligations for organisations across Europe.
The moment that led to the creation of the EDPB
The GDPR led to the establishment of the European Data Protection Board (EDPB) on 25 May 2018, replacing the Article 29 Working Party that was previously in charge of dealing with issues relating to the protection of personal data.
The GDPR gave the Data Protection Authorities (DPAs) stronger enforcement powers and expanded the scope of their work from focusing mainly on national compliance complaints to routinely dealing with cross-border cases.
In the past 10 years, the 31 European DPAs comprising the EDPB have worked together to ensure the consistent enforcement of the GDPR and a harmonised data protection approach across Europe.
A key role in an evolving digital landscape
Today, the GDPR is part of a broader and evolving European digital framework, alongside other digital laws such as the Digital Services Act, the Digital Markets Act, and the AI Act. In a world shaped by artificial intelligence, platform economies, and increasing data-driven innovation, the GDPR ensures that technological progress goes hand in hand with the protection of individuals’ fundamental rights.
An inspiration for the rest of the world
The impact of the GDPR has extended far beyond Europe’s borders, inspiring similar frameworks across the globe and contributing to a growing international recognition of privacy as a fundamental right.  
How the GDPR has shaped the data protection landscape: insights from Data Protection Authorities
Have you ever wondered what the data protection landscape looked like before the GDPR and how DPAs prepared for its entry into force? How has life for Europeans changed since its adoption? Watch the video for insights and testimonies from Data Protection Authorities which contributed to the shaping of the data protection landscape in Europe.
Click here to learn more about the GDPR.
 
 
Compliments of the European Data Protection Board The post EDPB | Marking 10 years of the GDPR: the Evolution of the European Data Protection Landscape first appeared on European American Chamber of Commerce New York [EACCNY] | Your Partner for Transatlantic Business Resources.