Due to urgent and unforeseen events related to the supply chain disruptions since the commencement of the conflict in the Middle East the Prime Minister has provided an exemption for the decision to introduce the Export Finance and Insurance Corporation Amendment (Strategic Reserve) Bill 2026 from the need to complete a detailed Impact Analysis, as set out in the Australian Government Policy Impact Analysis Guide.
This Bill would allow the Government to establish strategic reserves of materials vital for Australia’s economy, fuel security, supply chain resilience, national security and Future Made in Australia ambitions. It does this by providing Export Finance Australia (EFA) with new functions and tools to deliver this objective on behalf of the Government, including to secure, sell and selectively stockpile fuel, critical minerals, and other materials, goods, or things that may be imported into Australia, or could be produced in Australia, and are experiencing, or are vulnerable to experiencing, supply chain disruptions.
A Post Implementation Review on EFA’s strategic reserve function must be completed by the Department of Foreign Affairs and Trade by 2 April 2028.