This study assesses the needs and vulnerabilities of the EU in accessing products containing Critical Raw Materials (CRM) needed for the green and digital transitions in a changing geopolitical context. It provides an overview on the wider situation, as well as a policy context. The study sets out to identify at which stage of the supply chain, ranging from raw materials to final products, the European industrial eco-system is dependent on CRM imports. It reviews the CRM methodology designed by the JRC to identify which materials are critical and require special attention. The current methodology could benefit from an extension of scope, including an assessment of product groups and sectors. A study finds that setting up of EU stockpiling facilities could mitigate supply disruptions of raw materials and components. However, setting up stockpiling facilities would require an effective public-private management.