Editor's Note: In the coming year, RANE will analyze the geopolitics of natural resources and raw materials. This series will be published periodically throughout the remainder of 2026; you can find all parts here . In recent years, rising geopolitical tensions and competition among major powers have made countries more inclined to exploit other countries' economic dependence, whether through trade restrictions or financial sanctions. Weaponizing another country's dependence on critical commodity imports is a particularly effective way to impose, or threaten to impose, costs on another country. This is because, under propitious circumstances, the decline in export-related revenues due to export restrictions tends to be minimal compared to the economic and political costs faced by the target country, such as its ability to sustain economic growth or activity in sectors deemed critical from a national security or technology perspective.