I didn't say there would be no geopolitical risk; I said that the European Union is very sensitive to the question of geopolitical risk around energy supplies and other things.
The approach around material flows in Europe is very interesting. We actually just published a study this week on electric vehicle batteries, mostly on end-of-life questions. One of the things that is quite interesting with the European Union is the emphasis on circularity—on recovering materials from end-of-life batteries, for example, and feeding them back into supply chains within Europe—precisely because they are sensitive to these risks.
All of these things are ultimately internationally traded commodities, and that is part of the source of the risk. A particular example is the war in Ukraine, but other factors can be at work that affect the prices—particularly of minerals, for example—that are also beyond the control of the EU, and they're being very—