European Commission proposes emergency powers to avert supply crisis

The European Commission proposed on Monday emergency power to avoid a supply crisis. Reuters reports after obtaining the European Union (EU) draft rules.

Key highlights

“Under draft rules, the EU is to ask companies to accept priority rated orders for critical products.”

“Under EU draft rules EU countries may ask companies to expand or repurpose production lines.”

“EU countries may have to build up stockpiles under EU draft rules.”