Putin on the Stubb call, an EU critical raw materials centre and Finland’s 24-risk national assessment

Putin comments on his call with Stubb, the European Parliament backs a critical raw materials centre, and Finland’s updated national risk assessment lists 24 risks but no immediate military threat.

Three developments show how Finland and Europe are positioning themselves in an uncertain security environment: Vladimir Putin’s comments on a call with President Stubb, the European Parliament’s support for a critical raw materials centre, and Finland’s updated national risk assessment.

1. Putin comments on the call with Stubb and Støre

On Thursday 29 October 2026 in Moscow, Russian President Vladimir Putin commented on the telephone call that President Alexander Stubb and Norwegian Prime Minister Jonas Gahr Støre held with him on 27 October. According to Yle, Putin said both leaders stated at the start that they were not representing the EU, and that Russia wants fully fledged relations with European countries. He also said Russia is ready for war but does not want one, because there would be no winners, and, as reported by the Indian news agency ANI, asked whether anyone wants the Baltic Sea to become like the Strait of Hormuz. He said the call was the right thing to do. A poll by Ilta-Sanomat and Taloustutkimus found that 75% agreed Stubb had acted correctly.

These are one side’s statements. They do not on their own show that tensions are easing.

2. European Parliament backs a Critical Raw Materials Centre

On 20 October 2026 the European Parliament approved amendments to the Critical Raw Materials Act by 470 votes to 83, with 108 abstentions. They call for a European centre to reduce dependence on imports, especially from China. The text now goes to negotiations with member states, and setting up the centre could take two to three years.

  • The EU lists 34 critical raw materials, 17 of them strategic.
  • Europe consumes about 20% of the world’s minerals but produces only 2–3%, according to Matti Hietanen of the Finnish Minerals Group.
  • There are 11 EU strategic projects in Finland, five of them in Kokkola. A €2 billion fund is proposed in the 2028–2034 budget.

3. Finland’s updated national risk assessment lists 24 risks

The Ministry of the Interior published the updated national risk assessment on 2 November 2026 (Yle). It is updated every three years; the last version was in 2023. It lists 24 risks and threats Finland should prepare for. New risks are disruption of information availability, availability of skilled labour in crises, and disruptions in global value and production chains.

  • Cyber: Supo specialist Veli-Pekka Kivimäki said Russian cyber activity against Finland is continuous. He did not comment on the number of attacks.
  • AI: AI-enabled cyberattacks are becoming more common and are expected to grow in speed and volume. Relying on a few foreign AI suppliers could expose Finland to geopolitical pressure.
  • Influence: information influence is becoming an everyday matter in Finland.
  • Supply: Finland depends on imports in semiconductors and green-energy technology, and on medicines from China, officials said. The assessment says China seeks to influence Finnish decision-making and public debate.
  • Military threat: Finland faces no immediate military threat. The assessment is not a forecast; it lists what Finland must be ready for, including long serious threats such as a pandemic or the use of military force.

FGC perspective

Security here is not only about defence: it also covers supply chains, infrastructure, technology and skills. For residents, students and workers, the practical steps are modest. Watch for phishing and AI-generated scams, keep basic household supplies in line with official guidance (see our report on the printed preparedness guide), and note that raw-material and battery-sector projects may create work in regions such as Central Ostrobothnia, though project timelines are uncertain.

Sources