US designates helium as critical material as Europe faces supply squeeze

The United States designated helium as a critical material on Friday, citing its essential role in semiconductor manufacturing and energy production, as well as growing concerns over disruptions to global supplies. The move by the US Department of Energy will make additional federal funding available to helium producers and bring the material under closer government monitoring. Helium is mainly extracted as a byproduct of natural gas processing. The US is the world's largest producer of both natural gas and helium, with Qatar and Russia also among the leading helium producers. Helium exports from Qatar have been severely disrupted by Iran's closure of the Strait of Hormuz amid its war with Israel and the US.