Category: China

MIL-Evening Report: Trump silences Voice of America – end of a propaganda machine or void for China and Russia to fill?

ANALYSIS: By Valerie A. Cooper, Te Herenga Waka — Victoria University of Wellington

Of all the contradictions and ironies of Donald Trump’s second presidency so far, perhaps the most surprising has been his shutting down the US Agency for Global Media (USAGM) for being “radical propaganda”.

Critics have long accused the agency — and its affiliated outlets such as Voice of America, Radio Free Europe and Radio Free Asia — of being a propaganda arm of US foreign policy.

But to the current president, the USAGM has become a promoter of “anti-American ideas” and agendas — including allegedly suppressing stories critical of Iran, sympathetically covering the issue of “white privilege” and bowing to pressure from China.

Propaganda is clearly in the eye of the beholder. The Moscow Times reported Russian officials were elated by the demise of the “purely propagandistic” outlets, while China’s Global Times celebrated the closure of a “lie factory”.

Meanwhile, the European Commission hailed USAGM outlets as a “beacon of truth, democracy and hope”. All of which might have left the average person understandably confused: Voice of America? Wasn’t that the US propaganda outlet from World War II?

Well, yes. But the reality of USAGM and similar state-sponsored global media outlets is more complex — as are the implications of the US agency’s demise.

For the better part of a century, Voice of America has broadcast into countries whose governments censored free information. The Trump administration has dismantled VOA’s parent organization, put all of its employees on leave and ended funding for independent media agencies.… pic.twitter.com/TzagYQwNIx

— PBS News (@NewsHour) March 17, 2025

Public service or state propaganda?
The USAGM is one of several international public service media outlets based in Western democracies. Others include Australia’s ABC International, the BBC World Service, CBC/Radio-Canada, France Médias Monde, NHK-World Japan, Deutsche Welle in Germany and SRG SSR in Switzerland.

Part of the Public Media Alliance, they are similar to national public service media, largely funded by taxpayers to uphold democratic ideals of universal access to news and information.

Unlike national public media, however, they might not be consumed — or even known — by domestic audiences. Rather, they typically provide news to countries without reliable independent media due to censorship or state-run media monopolies.

The USAGM, for example, provides news in 63 languages to more than 100 countries. It has been credited with bringing attention to issues such as protests against covid-19 lockdowns in China and women’s struggles for equal rights in Iran.

On the other hand, the independence of USAGM outlets has been questioned often, particularly as they are required to share government-mandated editorials.

Voice of America has been criticised for its focus on perceived ideological adversaries such as Russia and Iran. And my own research has found it perpetuates stereotypes and the neglect of African nations in its news coverage.

Leaving a void
Ultimately, these global media outlets wouldn’t exist if there weren’t benefits for the governments that fund them. Sharing stories and perspectives that support or promote certain values and policies is an effective form of “public diplomacy”.

Yet these international media outlets differ from state-controlled media models because of editorial systems that protect them from government interference.

The Voice of America’s “firewall”, for instance, “prohibits interference by any US government official in the objective, independent reporting of news”. Such protections allow journalists to report on their own governments more objectively.

In contrast, outlets such as China Media Group (CMG), RT from Russia, and PressTV from Iran also reach a global audience in a range of languages. But they do this through direct government involvement.

CMG subsidiary CCTV+, for example, states it is “committed to telling China’s story to the rest of the world”.

Though RT states it is an autonomous media outlet, research has found the Russian government oversees hiring editors, imposing narrative angles, and rejecting stories.

A Voice of America staffer protests outside the Washington DC offices on March 17, 2025, after employees were placed on administrative leave. Image: Getty Images/The Conversation

Other voices get louder
The biggest concern for Western democracies is that these other state-run media outlets will fill the void the USAGM leaves behind — including in the Pacific.

Russia, China and Iran are increasing funding for their state-run news outlets, with China having spent more than US$6.6 billion over 13 years on its global media outlets. China Media Group is already one of the largest media conglomerates in the world, providing news content to more than 130 countries in 44 languages.

And China has already filled media gaps left by Western democracies: after the ABC stopped broadcasting Radio Australia in the Pacific, China Radio International took over its frequencies.

Worryingly, the differences between outlets such as Voice of America and more overtly state-run outlets aren’t immediately clear to audiences, as government ownership isn’t advertised.

An Australian senator even had to apologise recently after speaking with PressTV, saying she didn’t know the news outlet was affiliated with the Iranian government, or that it had been sanctioned in Australia.

Switched off
Trump’s move to dismantle the USAGM doesn’t come as a complete surprise, however. As the authors of Capturing News, Capturing Democracy: Trump and the Voice of America described, the first Trump administration failed in its attempts to remove the firewall and install loyalists.

This perhaps explains why Trump has resorted to more drastic measures this time. And, as with many of the current administration’s legally dubious actions, there has been resistance.

The American Foreign Service Association says it will challenge the dismantling of the USAGM, while the Czech Republic is seeking EU support to keep Radio Free Europe and Radio Liberty on the air.

But for many of the agency’s journalists, contractors, broadcasting partners and audiences, it may be too late. Last week, The New York Times reported some Voice of America broadcasts had already been replaced by music.

Dr Valerie A. Cooper is lecturer in media and communication, Te Herenga Waka — Victoria University of Wellington. This article is republished from The Conversation under a Creative Commons licence. Read the original article.

MIL OSI Analysis – EveningReport.nz –

March 26, 2025
MIL-OSI China: Chinese vice premier calls for healthy development of platform economy

Source: People’s Republic of China – State Council News

BEIJING, March 25 — Chinese Vice Premier Zhang Guoqing has urged intensified efforts to promote the healthy development of the platform economy to better meet the people’s needs for improved lives.

Zhang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks during an inspection tour of multiple platform enterprises engaged in food delivery, online retail, livestreaming e-commerce, and transportation services.

Noting that the platform economy can boost the efficiency of resource allocation and the development of new quality productive forces, Zhang called on related companies to play a leading role in promoting innovation, boosting consumption and stabilizing employment.

Platform companies should also protect the rights and interests of medium and small-sized merchants, as well as people in new forms of employment, and they should safeguard consumer interests and enhance the satisfaction of all platform participants, he said.

He urged resolute efforts to tackle rat-race competition marked by low quality and low prices, and to foster a healthy ecosystem for the platform economy.

He also urged efforts to keep improving market regulation efficiency to protect the people’s interests in an improved manner.

MIL OSI China News –

March 26, 2025
MIL-OSI USA: Cornyn, Padilla Bill to Safeguard U.S. Research Against Foreign Adversaries Passes House

US Senate News:

Source: United States Senator for Texas John Cornyn
WASHINGTON – U.S. Senators John Cornyn (R-TX) and Alex Padilla (D-CA) released the following statements after their U.S. Research Protection Act, which would shield American research from malign foreign influence by updating language in the CHIPS and Science Act to include additional restrictions against programs sponsored by countries of concern, passed the U.S. House of Representatives:
“In a world where competition turns into hostility all too often, we must do everything in our power to safeguard American ingenuity against bad actor nations,” said Sen. Cornyn. “This legislation will place even more restrictions on academic programs involving countries of concern to ensure American scientific research is protected.”
“The bipartisan CHIPS and Science Act included important provisions to bolster our research security, and we must continue to build upon this progress,” said Sen. Padilla. “This legislation will provide much-needed clarity for federal agencies and academic institutions to better safeguard national security while preserving research collaboration and international partnerships crucial to the strength of America’s innovation economy. I am glad to see the House pass our bipartisan bill, and I look forward to working with Senator Cornyn and my colleagues to secure its swift passage in the Senate.”
U.S. Representatives Mike Kennedy (UT-03) and Haley Stevens (MI-11) led the legislation in the House.
Background:
Malign Foreign Talent Programs are sponsored by countries of concern like Russia, China, Iran, and North Korea to obtain American scientific research and technology by incentivizing or coercing American researchers to act on their behalf. The CHIPS and Science Act included provisions to prohibit the U.S. government and academic institutions from partnering with such programs.
However, the law’s current definition of a Malign Foreign Talent Program only includes programs that “directly provide” incentives and benefits to researchers to participate, leaving out other methods to provide indirect benefits to researchers to induce their cooperation. This legislation would broaden the definition to include “indirect benefits,” ensuring foreign adversarial nations cannot exploit this loophole to evade U.S. research restrictions.

MIL OSI USA News –

March 26, 2025

MIL-OSI: Petrus Resources Announces Fourth Quarter and Year-End 2024 Financial, Operating & Reserves Results

Source: GlobeNewswire (MIL-OSI)

CALGARY, Alberta, March 25, 2025 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and twelve months ended December 31, 2024 and to provide 2024 year end reserves information as evaluated by Insite Petroleum Consultants Ltd. (“Insite”). The Company’s Management’s Discussion and Analysis (“MD&A”) and audited consolidated financial statements are available on SEDAR+ (the System for Electronic Document Analysis and Retrieval) at www.sedarplus.ca.

Q4 2024 HIGHLIGHTS:

Dividends – Throughout the fourth quarter Petrus paid a dividend of $0.01 per share per month, totaling $3.7 million. Including the dividend declared on March 3, 2025 payable on March 31, 2025, Petrus will have cumulatively paid $0.18 per share, or $22.4 million in dividends since the company began paying dividends in Q4 2023. Based on the average closing share price at March 24, 2025 of $1.36 per share, the current dividend yield is approximately 9% annually.

Production – Production for the fourth quarter of 2024 averaged 9,066 boe/d⁽¹⁾, which was relatively flat compared to 9,215 boe/d in the third quarter of 2024, as natural declines were largely offset by new wells that were brought on production in December 2024.

Natural Gas Liquids (NGL) production – NGL production increased to 1,810 bbl/d in the fourth quarter of 2024, up 24% compared to 1,465 bbl/d in the third quarter of 2024. Strategic efforts to improve NGL recoveries resulted in the NGL yield increasing by 25%, from 40 bbl/mmcf of gas in Q4 2023 to 50 bbl/mmcf of gas in Q4 2024.

Commodity prices – Total realized price was $26.45/boe in the fourth quarter of 2024, up 10% from $24.07/boe in the third quarter of 2024. Increases were seen across all commodities, with the most notable change in realized natural gas pricing, which was up 101% compared to the prior quarter.

Funds flow⁽²⁾– Petrus generated funds flow of $12.5 million in the fourth quarter of 2024 compared to $10.7 million in the third quarter of 2024. The 17% increase is due to the higher natural gas prices combined with higher NGL production volumes.

Net debt⁽²⁾– Net debt was $60.1 million at the end of Q4 2024, which was down $0.3 million compared to the end of the prior quarter.

2024 ANNUAL HIGHLIGHTS:

Commodity prices – Total realized price was $27.24/boe in 2024, a decrease of 18% from $33.31/boe in 2023. Realized natural gas prices declined by 47% from $3.01/mcf in 2023 to $1.60/mcf in 2024.

Capital expenditures – Total capital expenditures were $31.8 million in 2024, down from $86.8 million in 2023 as the Company reduced its capital expenditures program in response to lower natural gas prices.

Natural Gas Liquids (NGL) production – NGL production was higher by 3% in 2024, increasing to 1,623 bbl/d compared to 1,575 bbl/d in 2023.

Production – Production for 2024 averaged 9,382 boe/d⁽¹⁾, as compared to 10,301 boe/d in 2023. The 9% decrease was primarily due to natural declines and a reduced capital program.

Funds flow⁽²⁾– Petrus generated funds flow of $50.1 million in 2024 compared to $78.0 million in 2023. The 36% decrease was due to a combination of lower natural gas prices and reduced production.

Net debt⁽²⁾– Petrus reduced net debt by $2.5 million from $62.6 million at year end 2023 to $60.1 million at year end 2024.

2025 OUTLOOK⁽³⁾

In 2025, Petrus will continue to execute its strategy of disciplined capital investment, focusing on projects that sustain production, increase liquids weighting, enhance capital efficiency, and drive free funds flow. On February 12, 2025, we announced our 2025 capital budget and guidance, available under the ‘News & Events’ section of our website.

The 2025 capital program began early in the year with a return to drilling in Ferrier. Completion operations were carried out in February and new wells were brought on before the end of the first quarter of 2025. Additionally, construction of the 12-kilometer expansion of the North Ferrier pipeline was completed in March. This infrastructure investment will further improve access to undeveloped lands and allow the Company to transport both its own and third-party natural gas to the Petrus’ operated Ferrier gas plant, providing cost-effective processing and the opportunity to generate additional revenue through third-party fees.

For the balance of 2025, the Company has hedged approximately 53% of forecasted production at an average of $2.67/GJ for natural gas and CAD$94.81/bbl for oil. The Company is well-positioned to carry out its 2025 capital program and achieve guidance targets. As always, Petrus will closely monitor market conditions and is prepared to adjust its capital program as needed, guided by its commitment to delivering sustainable returns to shareholders.

FOURTH QUARTER AND YEAR-END 2024 CONFERENCE CALL

Date: March 26, 2025
Time: 9:00 am (mountain time)
Please refer to the events page on Petrus’ website for conference call details and links: www.petrusresources.com/events

ANNUAL GENERAL MEETING

The Company’s Annual General Meeting will be held on Wednesday May 21, 2025 at 1:30 pm (mountain time).
Please refer to the events page on Petrus’ website for location details: www.petrusresources.com/events

For further information, please contact:

Ken Gray, P.Eng.
President and Chief Executive Officer
T: (403) 930-0889
E: kgray@petrusresources.com

_{⁽¹⁾Disclosure of production on a per boe basis consists of the constituent product types and their respective quantities. Refer to “BOE Presentation” and “Production & Product Type Information” for further details.}
_{⁽²⁾Non-GAAP financial measure or non-GAAP ratio. Refer to “Non-GAAP and Other Financial Measures”.}
_{⁽³⁾Refer to “Advisories – Forward-Looking Statements”.}

SELECTED FINANCIAL INFORMATION

OPERATIONS	Twelve months ended Dec. 31, 2024		Twelve months ended Dec. 31, 2023		Three months ended Dec. 31, 2024		Three months ended Sept. 30, 2024		Three months ended Jun. 30, 2024		Three months ended Mar. 31, 2024
Average Production
Natural gas (mcf/d)	38,149		42,779		36,178		37,368		38,908		40,174
Oil and condensate⁽¹⁾ (bbl/d)	1,400		1,595		1,226		1,522		1,322		1,529
NGLs (bbl/d)	1,623		1,575		1,810		1,465		1,664		1,557
Total (boe/d)	9,382		10,301		9,066		9,215		9,471		9,783
Total (boe)⁽¹⁾	3,433,994		3,760,004		834,111		847,760		861,838		890,267
Liquids weighting	32	%	31	%	33	%	32	%	32	%	32	%
Realized Prices
Natural gas ($/mcf)	1.60		3.01		1.61		0.80		1.41		2.54
Oil and condensate⁽¹⁾ ($/bbl)	94.35		95.61		93.60		90.80		103.77		90.38
NGLs ($/bbl)	38.44		39.31		36.90		36.81		37.25		43.09
Total realized price ($/boe)	27.24		33.31		26.45		24.07		26.81		31.42
Royalty income	0.05		0.09		0.03		0.05		0.05		0.07
Royalty expense	(3.66	)	(4.59	)	(3.85	)	(3.06	)	(3.83	)	(3.89	)
Gain (loss) on risk management activities	—		0.40		—		—		—		—
Net oil and natural gas revenue ($/boe)	23.63		29.21		22.63		21.06		23.03		27.60
Operating expense	(5.93	)	(6.25	)	(5.89	)	(6.10	)	(4.96	)	(6.76	)
Transportation expense	(1.55	)	(1.63	)	(1.44	)	(1.46	)	(1.46	)	(1.81	)
Operating netback⁽²⁾($/boe)	16.15		21.33		15.30		13.50		16.61		19.03
Realized gain (loss) on financial derivatives	2.02		2.14		3.04		2.49		(0.36	)	2.90
Other cash income (expense)	0.34		0.02		1.19		0.09		0.05		0.05
General & administrative expense	(1.54	)	(1.11	)	(2.10	)	(1.43	)	(1.34	)	(1.32	)
Cash finance expense	(1.87	)	(1.28	)	(1.83	)	(1.95	)	(1.91	)	(1.78	)
Decommissioning expenditures	(0.52	)	(0.37	)	(0.61	)	(0.12	)	(0.72	)	(0.61	)
Funds flow & corporate netback⁽²⁾($/boe)	14.58		20.73		14.99		12.58		12.33		18.27

FINANCIAL (000s except $ per share)	Twelve months ended Dec. 31, 2024		Twelve months ended Dec. 31, 2023		Three months ended Dec. 31, 2024		Three months ended Sept. 30, 2024		Three months ended Jun. 30, 2024		Three months ended Mar. 31, 2024
Oil and natural gas sales	93,721		125,605		22,085		20,446		23,150		28,039
Net income (loss)	(1,246	)	50,731		(4,004	)	5,302		2,789		(5,333	)
Net income (loss) per share
Basic	(0.01	)	0.41		(0.03	)	0.04		0.02		(0.04	)
Fully diluted	(0.01	)	0.40		(0.03	)	0.04		0.02		(0.04	)
Funds flow⁽²⁾	50,058		78,024		12,493		10,665		10,628		16,272
Funds flow per share⁽²⁾
Basic	0.40		0.63		0.10		0.09		0.09		0.13
Fully diluted	0.40		0.62		0.10		0.08		0.08		0.13
Capital expenditures	31,814		86,843		7,705		4,859		6,907		12,343
Weighted average shares outstanding
Basic	124,389		123,469		124,497		124,372		124,290		124,299
Fully diluted	124,389		126,436		124,497		126,686		126,559		124,299
As at period end
Common shares outstanding
Basic	125,113		124,266		125,113		124,372		124,372		124,259
Fully diluted	134,919		134,542		134,919		134,952		134,919		134,484
Total assets	420,124		437,842		420,124		421,196		419,584		427,574
Non-current liabilities	65,475		60,926		65,475		62,869		59,511		59,995
Net debt⁽²⁾	60,080		62,596		60,080		60,423		61,848		63,114

_{(1) Disclosure of production on a per boe basis consists of the constituent product types and their respective quantities. Refer to “BOE Presentation” and “Production & Product Type Information” for further details.
(2) Non-GAAP financial measure or non-GAAP ratio. Refer to “Non-GAAP and Other Financial Measures”.}

OPERATIONS UPDATE

Fourth quarter average production by area was as follows:

For the three months ended December 31, 2024	Ferrier & North Ferrier	Foothills	Central Alberta	Total
Natural gas (mcf/d)	31,052	539	4,587	36,178
Oil and condensate (bbl/d)	928	54	244	1,226
NGLs (bbl/d)	1,665	7	138	1,810
Total (boe/d)⁽¹⁾	7,768	151	1,147	9,066

Production for the fourth quarter of 2024 averaged 9,066 boe/d, as compared to 9,474 boe/d in the fourth quarter of 2023. The 4% decrease was primarily due to natural declines and strategic shut-ins due to low natural gas prices and was partially offset by new wells that commenced production in December 2024.

RESERVES

Petrus’ 2024 year end reserves were evaluated by its independent reserves evaluator, Insite, in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (“COGE Handbook”) and National instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101”) as of December 31, 2024 (“2024 Insite Report”). Additional reserve information as required under NI 51-101 will be included in our Annual Information Form for the year ended December 31, 2024, which will be available under the Company’s profile on SEDAR (the System for Electronic Document Analysis and Retrieval) at www.sedarplus.com.

Petrus has a reserves committee, comprised of a majority of independent board members, that reviews the qualifications and appointment of the independent reserves evaluator. The committee also reviews the procedures for providing information to the evaluators. All booked reserves are based upon annual evaluations by the independent qualified reserve evaluator conducted in accordance with the COGE Handbook and NI 51-101. The evaluations are conducted using all available geological and engineering data. The reserves committee has reviewed the reserves information and approved the 2024 Insite Report.

The following table provides a summary of the Company’s before tax reserves as evaluated by Insite:

As at December 31, 2024	Total Company Interest ⁽¹⁾⁽³⁾
Reserve Category	Conventional Natural Gas (mmcf)	Light and Medium Crude Oil (mbbl)	NGL (mbbl)	Total (mboe)	NPV 0%⁽²⁾ ($000s)	NPV 5%⁽²⁾ ($000s)	NPV 10%⁽²⁾ ($000s)
Proved Developed Producing	72,283	764	4,661	17,472	300,947	242,886	206,936
Proved Developed Non-Producing	1,434	19	67	325	3,397	2,821	2,335
Proved Undeveloped	120,479	3,060	7,235	30,375	425,388	255,976	155,680
Total Proved	194,196	3,843	11,963	48,172	729,733	501,683	362,616
Proved + Probable Producing	86,694	913	5,598	20,960	382,364	291,613	238,115
Total Probable	96,481	3,434	5,405	24,919	499,146	294,964	192,562
Total Proved Plus Probable	290,677	7,277	17,368	73,091	1,228,879	796,647	555,178

_{⁽¹⁾Tables may not add due to rounding.}
_{⁽²⁾NPV 0%, NPV 5% and NPV 10% refer to the risked net present value of the future net revenue of the Company’s reserves, discounted by 0%, 5% and 10%, respectively}
_{and is presented before tax and based on Insite’s pricing assumptions.}
_{⁽³⁾Total company interest reserve volumes presented therein are presented as the Company’s total working interest before the deduction of royalties (but after including any royalty interests of Petrus).}

The Company produced 3.4 mmboe during 2024 and ended the year with 17.5 mmboe of Proved Developed Producing (“PDP”) reserves (31% oil and liquids).

Petrus ended 2024 with $206.9 million, $362.6 million and $555.2 million of PDP, Total Proved (“TP”), and Total Proved plus Probable (“P+P”) reserve value before-tax, respectively, discounted at 10%, based on the 2024 Insite Report. In 2024, the Company realized Finding and Development (“F&D”)⁽¹⁾⁽²⁾ costs of $12.58/boe for PDP reserves.

Based on the 2024 Insite Report, the Company’s PDP reserve value before-tax, discounted at 10% is $1.32 per share (134,918,886 fully-diluted common shares outstanding at December 31, 2024). On the same basis, the Company’s P+P reserve value before-tax, discouted at 10%, is $3.90 per share.

_{⁽¹⁾Refer to “Oil and Gas Disclosures”}
_{⁽²⁾While F&D costs are commonly used in the oil and nature gas industry and have been prepared by management, these terms do not have a standardized meaning and may not be comparable to similar measures presented by other companies and, therefore, should not be used to make such comparisons.}

FUTURE DEVELOPMENT COST

Future Development Cost (“FDC”) reflects Insite’s best estimate of what it will cost to bring the P+P undeveloped reserves on production. The following table provides a summary of the Company’s FDC as set forth in the 2024 Insite Report:

Future Development Cost ($000s)	Total Proved	Total Proved + Probable
2025	44,349	44,349
2026	138,485	138,485
2027	151,518	164,611
2028	83,030	147,282
Thereafter	—	130,453
Total FDC, Undiscounted	417,381	625,179
Total FDC, Discounted at 10%	345,611	489,942

PERFORMANCE RATIOS
The following table highlights annual performance ratios for the Company from 2020 to 2024⁽²⁾:

	December 31, 2024	December 31, 2023	December 31, 2022	December 31, 2021	December 31, 2020
Proved Producing
FD&A ($/boe) ⁽¹⁾	12.58	19.67	12.58	15.64	4.83
F&D ($/boe) ⁽¹⁾	12.58	19.67	12.70	8.90	4.83
Reserve Life Index (yr) ⁽¹⁾	5.24	5.27	5.31	5.41	5.20
Reserve Replacement Ratio ⁽¹⁾	0.74	1.15	3.20	0.78	1.20
FD&A Recycle Ratio ⁽¹⁾	1.28	1.06	2.91	1.58	2.60
Proved Developed
FD&A ($/boe) ⁽¹⁾	12.63	19.34	12.50	14.54	4.71
F&D ($/boe) ⁽¹⁾	12.63	19.34	12.61	8.53	4.71
Reserve Life Index (yr) ⁽¹⁾	5.33	5.36	5.39	5.50	5.20
Reserve Replacement Ratio ⁽¹⁾	0.73	1.17	3.22	0.84	1.20
FD&A Recycle Ratio ⁽¹⁾	1.28	1.08	2.93	1.70	2.70
Total Proved
FD&A ($/boe) ⁽¹⁾	17.53	14.50	18.24	10.51	1.29
F&D ($/boe) ⁽¹⁾	17.53	14.50	33.99	9.24	1.29
Reserve Life Index (yr) ⁽¹⁾	14.4	13.85	12.18	15.30	10.90
Reserve Replacement Ratio ⁽¹⁾	0.97	2.98	3.79	4.50	(1.00	)
FD&A Recycle Ratio ⁽¹⁾	0.92	1.44	2.01	2.35	9.80
Future Development Cost (undiscounted) ($000s)	417,381	391,058	313,786	233,684	156,815
Total Proved + Probable
FD&A ($/boe) ⁽¹⁾	33.63	14.00	15.66	10.57	0.37
F&D ($/boe) ⁽¹⁾	33.63	14.00	36.12	8.36	0.37
Reserve Life Index (yr) ⁽¹⁾	21.9	21.62	19.68	23.29	17.70
Reserve Replacement Ratio ⁽¹⁾	0.33	3.49	6.63	5.10	(1.30	)
FD&A Recycle Ratio ⁽¹⁾	0.48	1.50	2.34	2.33	33.70
Future Development Cost (undiscounted) ($000s)	625,179	618,437	519,823	343,489	252,335

_{⁽¹⁾Refer to “Oil and Gas Disclosures”}
_{⁽²⁾While FD&A cost and F&D costs, reserve life index, reserve replacement ratio and FD&A recycle ratio are commonly used in the oil and natural gas industry and have been prepared by management, these terms do not have a standardized meaning and may not be comparable to similar measures presented by other companies and, therefore, should not be used to make such comparisons.}

NET ASSET VALUE
The following table shows the Company’s Net Asset Value (“NAV”), calculated using the 2024 Insite Report and Insite’s December 31, 2024 price forecast. The reader is cautioned that these amounts may not be directly comparable to other companies, as the term “Net Asset Value” does not have a standardized meaning under GAAP or NI 51-101. Management believes that net asset value provides a useful measure to analyze the comparative change in the Company’s estimated value on a normalized basis.

As at December 31, 2024 ($000s except per share)	Proved Developed Producing		Total Proved		Proved + Probable
Present Value Reserves, before tax (discounted at 10%) ⁽¹⁾	206,936		362,616		555,178
Undeveloped Land Value ⁽²⁾	30,758		30,758		30,758
Net Debt ⁽³⁾	(60,080	)	(60,080	)	(60,080	)
Net Asset Value	177,614		333,294		525,856
Fully Diluted Shares Outstanding	134,919		134,919		134,919
Estimated Net Asset Value per Fully Diluted Share	$1.32		$2.47		$3.90

_{⁽¹⁾Based on the 2024 Insite Report, using the forecast future prices and costs.}
_{⁽²⁾Based on the exploration and evaluation assets as per the Company’s December 31, 2024 audited consolidated financial statements.}
_{⁽³⁾Non-GAAP financial measure. See “Non-GAAP and Other Financial Measures”.}

NON-GAAP AND OTHER FINANCIAL MEASURES

This press release makes reference to the terms “operating netback” (on an absolute and $/boe basis), “corporate netback” (on an absolute and $/boe basis), “funds flow” (on an absolute, per share (basic and fully diluted) and $/boe basis), and “net debt”. These non-GAAP and other financial measures are not recognized measures under GAAP (IFRS) and do not have a standardized meaning prescribed by GAAP (IFRS). Accordingly, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. These non-GAAP and other financial measures should not be considered to be more meaningful than GAAP measures which are determined in accordance with IFRS as indicators of our performance. Management uses these non-GAAP and other financial measures for the reasons set forth below.

Operating Netback
Operating netback is a common non-GAAP financial measure used in the oil and natural gas industry which is a useful supplemental measure to evaluate the specific operating performance by product type at the oil and natural gas lease level. The most directly comparable GAAP measure to operating netback is oil and natural gas sales. Operating netback is calculated as oil and natural gas sales less royalty expenses, gain (loss) on risk management activities, operating expenses and transportation expenses. See below for a reconciliation of operating netback to oil and natural gas sales.

Operating netback ($/boe) is a non-GAAP ratio used in the oil and natural gas industry which is a useful supplemental measure to evaluate the specific operating performance by product type at the oil and natural gas lease level. It is calculated as operating netbacks divided by weighted average daily production on a per boe basis. See below.

Corporate Netback and Funds Flow
Corporate netback or funds flow is a common non-GAAP financial measure used in the oil and natural gas industry which evaluates the Company’s profitability at the corporate level. Corporate netback and funds flow are used interchangeably. Petrus analyzes these measures on an absolute value and on a per unit (boe) and per share (basic and fully diluted) basis as non-GAAP ratios. Management believes that funds flow and corporate netback provide information to assist a reader in understanding the Company’s profitability relative to current commodity prices. They are calculated as the operating netback less general and administrative expense, cash finance expense and decommissioning expenditures, plus or minus other income (expense) and the realized gain (loss) on financial derivatives. See below for a reconciliation of funds flow and corporate netback to oil and natural gas sales.

Corporate netback ($/boe) or funds flow ($/boe) is a non-GAAP ratio used in the oil and natural gas industry which evaluates the Company’s profitability at the corporate level. Management believes that funds flow ($/boe) or corporate netback ($/boe) provide information to assist a reader in understanding the Company’s profitability relative to current commodity prices. It is calculated as corporate netbacks or funds flow divided by weighted average daily production on a per boe basis. See below.

Funds flow per share (basic and fully diluted) is comprised of funds flow divided by basic or fully diluted weighted average common shares outstanding.

	Three months ended Dec. 31, 2024				Three months ended Dec. 31, 2023				Twelve months ended December 31, 2024				Twelve months ended December 31, 2023
	$000s		$/boe		$000s		$/boe		$000s		$/boe		$000s		$/boe
Oil and natural gas sales	22,085		26.48		26,747		30.70		93,721		27.29		125,605		33.41
Royalty expense	(3,212	)	(3.85	)	(4,167	)	(4.78	)	(12,572	)	(3.66	)	(17,255	)	(4.59	)
Gain (loss) on risk management activities	—		—		—		—		—		—		1,522		0.40
Net oil and natural gas revenue	18,873		22.63		22,580		25.92		81,149		23.63		109,872		29.22
Transportation expense	(1,203	)	(1.44	)	(1,271	)	(1.46	)	(5,316	)	(1.55	)	(6,115	)	(1.63	)
Operating expense	(4,915	)	(5.89	)	(4,419	)	(5.07	)	(20,376	)	(5.93	)	(23,505	)	(6.25	)
Operating netback	12,755		15.30		16,890		19.39		55,457		16.15		80,252		21.34
Realized gain (loss) on financial derivatives	2,539		3.04		1,737		1.99		6,930		2.02		8,051		2.14
Other income⁽¹⁾	991		1.19		(161	)	(0.18	)	1,156		0.34		79		0.02
General & administrative expense	(1,752	)	(2.10	)	(319	)	(0.37	)	(5,291	)	(1.54	)	(4,183	)	(1.11	)
Cash finance expense	(1,530	)	(1.83	)	(1,246	)	(1.43	)	(6,418	)	(1.87	)	(4,801	)	(1.28	)
Decommissioning expenditures	(510	)	(0.61	)	(376	)	(0.43	)	(1,776	)	(0.52	)	(1,374	)	(0.37	)
Funds flow and corporate netback	12,493		14.99		16,525		18.97		50,058		14.58		78,024		20.74

	Three months ended Dec. 31, 2024				Three months ended Sept. 30, 2024				Three months ended Jun. 30, 2024				Three months ended March 31, 2024
	$000s		$/boe		$000s		$/boe		$000s		$/boe		$000s		$/boe
Oil and natural gas sales	22,085		26.48		20,446		24.12		23,150		26.86		28,039		31.50
Royalty expense	(3,212	)	(3.85	)	(2,593	)	(3.06	)	(3,305	)	(3.83	)	(3,461	)	(3.89	)
Net oil and natural gas revenue	18,873		22.63		17,853		21.06		19,845		23.03		24,578		27.61
Transportation expense	(1,203	)	(1.44	)	(1,239	)	(1.46	)	(1,259	)	(1.46	)	(1,615	)	(1.81	)
Operating expense	(4,915	)	(5.89	)	(5,172	)	(6.10	)	(4,271	)	(4.96	)	(6,018	)	(6.76	)
Operating netback	12,755		15.30		11,442		13.50		14,315		16.61		16,945		19.04
Realized gain (loss) on financial derivatives	2,539		3.04		2,115		2.49		(307	)	(0.36	)	2,583		2.90
Other income (expense)⁽¹⁾	991		1.19		77		0.09		40		0.05		48		0.05
General & administrative expense	(1,752	)	(2.10	)	(1,209	)	(1.43	)	(1,152	)	(1.34	)	(1,178	)	(1.32	)
Cash finance expense	(1,530	)	(1.83	)	(1,657	)	(1.95	)	(1,650	)	(1.91	)	(1,581	)	(1.78	)
Decommissioning expenditures	(510	)	(0.61	)	(103	)	(0.12	)	(618	)	(0.72	)	(545	)	(0.61	)
Funds flow and corporate netback	12,493		14.99		10,665		12.58		10,628		12.33		16,272		18.28

Net Debt
Net debt is a non-GAAP financial measure and is calculated as the sum of long term debt and working capital (current assets and current liabilities), excluding the current financial derivative contracts and current portion of the lease obligation and decommissioning obligation. Petrus uses net debt as a key indicator of its leverage and strength of its balance sheet. Net debt is reconciled, in the table below, to long-term debt which is the most directly comparable GAAP measure.

($000s)	As at Dec. 31, 2024		As at Dec. 31, 2023		As at Sep. 30, 2024		As at Jun. 30, 2024		As at March 31, 2024
Long-term debt	25,000		25,000		25,000		25,000		25,000
Current assets	(17,583	)	(30,805	)	(20,258	)	(16,333	)	(21,081	)
Current liabilities	51,268		61,755		48,458		52,379		61,099
Current financial derivatives	2,632		8,374		7,690		1,276		(716	)
Current portion of lease obligation	(164	)	(258	)	(230	)	(237	)	(263	)
Current portion of decommissioning obligation	(1,073	)	(1,470	)	(237	)	(237	)	(925	)
Net debt	60,080		62,596		60,423		61,848		63,114

ADVISORIES

OIL AND GAS DISCLOSURES
Our oil and gas reserves statement for the year ended December 31, 2024, which includes disclosure of our oil and natural gas reserves and other oil and natural gas information in accordance with NI 51-101, is contained in the Company’s Annual Information Form for the year ended December 31, 2024 (the “AIF”), which will be filed on SEDAR+ at www.sedarplus.ca. It should not be assumed that the present worth of estimated future amounts presented in the tables above represents the fair market value of the reserves. There is no assurance that the forecast prices and costs assumptions will be attained, and variances could be material. The recovery and reserve estimates contained herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual reserves may be greater than or less than the estimates provided herein.

This release contains metrics commonly used in the oil and natural gas industry which have been prepared by management. These terms do not have a standardized meaning and may not be comparable to similar measures presented by other companies, and therefore should not be used to make such comparisons.

Management uses oil and gas metrics for its own performance measurements and to provide shareholders with measures to compare Petrus’ operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this release, should not be relied upon for investment or other purposes.

F&D Costs and FD&A Costs

FD&A cost is defined as capital costs for the time period including change in FDC divided by change in reserves including revisions and production for that same time period. F&D cost is defined as capital costs for the time period including change in FDC divided by change in reserves including revisions and production for that same time period, excluding acquisitions and dispositions. Both F&D costs and FD&A costs take into account reserves revisions during the year on a per boe basis. The methodology used to calculate F&D costs includes disclosure required to bring the proved undeveloped and probable reserves to production. Annually, changes in forecast FDC occur as a result of Petrus’ development, acquisition and disposition activities, undeveloped reserve revision and capital cost estimates. These values reflect the independent evaluator’s best estimate of the cost to bring the proved and probable undeveloped reserves to production.

Reserve Life Index

Reserve life index is defined as total reserves by category divided by the annualized fourth quarter production.

Reserve Replacement Ratio

The reserve replacement ratio is calculated by dividing the yearly change in reserves net of production by the actual annual production for the year.

FD&A Recycle Ratio

The FD&A recycle ratio is calculated by dividing operating netback by FD&A costs.

ADVISORIES

Basis of Presentation

Financial data presented above has largely been derived from the Company’s financial statements, prepared in accordance with GAAP which require publicly accountable enterprises to prepare their financial statements using IFRS. Accounting policies adopted by the Company are set out in the notes to the audited consolidated financial statements as at and for the twelve months ended December 31, 2024. The reporting and the measurement currency is the Canadian dollar. All financial information is expressed in Canadian dollars, unless otherwise stated.

Forward-Looking Statements

Certain information regarding Petrus set forth in this release contains forward-looking statements within the meaning of applicable securities law, that involve substantial known and unknown risks and uncertainties. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Such statements represent Petrus’ internal projections, estimates, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. These statements are only predictions and actual events or results may differ materially. Although Petrus believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievement since such expectations are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause Petrus’ actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Petrus. In particular, forward-looking statements included in this release include, but are not limited to statements with respect to: that in 2025, Petrus will continue to execute its strategy of disciplined capital investment, focusing on projects that sustain production, increase liquids weighting, enhance capital efficiency, and drive free funds flow; that the Company is well-positioned to carry out its 2025 capital program and achieve guidance targets; that Petrus will closely monitor market conditions and is prepared to adjust its capital program as needed, guided by its commitment to delivering sustainable returns to shareholders; the estimated future development costs to bring our undeveloped reserves on production; that we have a unique ability to be dynamic and respond quickly to constantly evolving market conditions; that Petrus will continue paying an industry leading, high-yielding dividend to our shareholders while investing remaining cash flow in high return wells and strategic infrastructure projects; that during periods of low prices, we will maintain production and cash flow and ensure the Company is positioned to quickly pivot to a growth strategy when pricing is more constructive; that our strengths will continue to serve the Company and our shareholders well as we navigate the constant changes and challenges inherent in this business; that the Company utilizes financial derivative contracts and physical commodity contracts to mitigate commodity price risk and provide stability and sustainability to the Company’s economic returns, funds flow, dividend payments and capital development plans; that the Company’s risk management contracts provide protection from significant changes in crude oil and natural gas commodity prices out to 2026; that the Company endeavors to hedge approximately half of its forecasted production for up to 12 months forward, and approximately 25% of its forecasted production for 12 to 24 months forward; that the Company’s hedging strategy is intended to provide stability and sustainability to the Company’s economic returns, funds flow, dividend payments and capital development plans; that the Company does not intend to settle its DSUs for cash; and that the Company expects the working capital deficiency to diminish over the next 12 months as the RLF is paid down by cash flow from operations. In addition, statements relating to “reserves” are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future.

These forward-looking statements are subject to numerous risks and uncertainties, most of which are beyond the Company’s control, including: the risk that (i) negotiations between the U.S. and Canadian governments are not successful and one or both of such governments implements announced tariffs, increases the rate or scope of announced tariffs, or imposes new tariffs on the import of goods from one country to the other, including on oil and natural gas, (ii) the U.S. and/or Canada imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas, and (iii) the tariffs imposed by the U.S., Canada, China and other countries and responses thereto could have a material adverse effect on the Canadian, U.S. and global economies, and by extension the Canadian oil and natural gas industry and the Company; the impact of general economic conditions; volatility in market prices for crude oil, NGL and natural gas; industry conditions; currency fluctuation; changes in interest rates and inflation rates; imprecision of reserve estimates; liabilities inherent in crude oil and natural gas operations; environmental risks; incorrect assessments of the value of acquisitions and exploration and development programs; competition; the lack of availability of qualified personnel or management; changes in income tax laws or changes in tax laws and incentive programs relating to the oil and gas industry; hazards such as fire, explosion, blowouts, cratering, and spills, each of which could result in substantial damage to wells, production facilities, other property and the environment or in personal injury and/or increase our costs, decrease our production, or otherwise impede our ability to operate our business; extreme weather events, such as wild fires, floods, drought and extreme cold or warm temperatures, each of which could result in substantial damage to our assets and/or increase our costs, decrease our production, or otherwise impede our ability to operate our business; stock market volatility; ability to access sufficient capital from internal and external sources; that the amount of dividends that we pay may be reduced or suspended entirely; that we reduce or suspend the repurchase of shares under our NCIB; and the other risks and uncertainties described in our AIF. With respect to forward-looking statements contained in this release, Petrus has made assumptions regarding: that the tariffs that have been publicly announced by the U.S. and Canadian governments (but which are not yet in effect) do not come into effect, but that if such tariffs do come into effect, the potential impact of such tariffs, and that other than the tariffs that have been announced, neither the U.S. nor Canada (i) increases the rate or scope of such tariffs, or imposes new tariffs, on the import of goods from one country to the other, including on oil and natural gas, and/or (ii) imposes any other form of tax, restriction or prohibition on the import or export of products from one country to the other, including on oil and natural gas; the amount of dividends that we will pay; the number of shares that we will repurchase under our NCIB; future commodity prices and royalty regimes; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; availability of drilling and related equipment and services; effects of regulation by governmental agencies; the effects of inflation on our costs and profitability; future interest rates; and future operating costs. Management has included the above summary of assumptions and risks related to forward-looking information provided in this release in order to provide investors with a more complete perspective on Petrus’ future operations and such information may not be appropriate for other purposes. Petrus’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. Readers are cautioned that the foregoing lists of factors are not exhaustive.

This release contains future-oriented financial information and financial outlook information (collectively, “FOFI”) about Petrus’ prospective results of operations including, without limitation, the percentage of our forecast production for the 2025 that is hedged, which are subject to the same assumptions, risk factors, limitations, and qualifications as set forth above. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on FOFI. Petrus’ actual results, performance or achievement could differ materially from those expressed in, or implied by, these FOFI, or if any of them do so, what benefits Petrus will derive therefrom. Petrus has included the FOFI in order to provide readers with a more complete perspective on Petrus’ future operations and such information may not be appropriate for other purposes.

These forward-looking statements and FOFI are made as of the date of this release and the Company disclaims any intent or obligation to update any forward-looking statements and FOFI, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

BOE Presentation

The oil and natural gas industry commonly expresses production volumes and reserves on a barrel of oil equivalent (“boe”) basis whereby natural gas volumes are converted at the ratio of six thousand cubic feet to one barrel of oil. The intention is to sum oil and natural gas measurement units into one basis for improved measurement of results and comparisons with other industry participants. Petrus uses the 6:1 boe measure which is the approximate energy equivalence of the two commodities at the burner tip. Boe’s do not represent an economic value equivalence at the wellhead and therefore may be a misleading measure if used in isolation.

Production & Product Type Information

References to crude oil (or oil), natural gas liquids (“NGLs”), natural gas and average daily production in this document refer to the light and medium crude oil, conventional natural gas, and NGLs product types, as applicable, as defined in National Instrument 51-101 (“NI 51-101”), except as noted below.

NI 51-101 includes condensate within the NGLs product type. The Company has disclosed condensate as combined with crude oil and separately from other NGLs since the price of condensate as compared to other NGLs is currently significantly higher and the Company believes that this crude oil and condensate presentation provides a more accurate description of its operations and results therefrom. Crude oil therefore refers to light oil, medium oil, and condensate. NGLs refers to ethane, propane, butane and pentane combined. Natural gas refers to conventional natural gas.

Abbreviations
$000’s		thousand dollars
$/bbl		dollars per barrel
$/boe		dollars per barrel of oil equivalent
$/GJ		dollars per gigajoule
$/mcf		dollars per thousand cubic feet
bbl		barrel
mbbl		thousand barrels
bbl/d		barrels per day
boe		barrel of oil equivalent
mboe		thousand barrel of oil equivalent
mmboe		million barrel of oil equivalent
boe/d		barrel of oil equivalent per day
GJ		gigajoule
GJ/d		gigajoules per day
mcf		thousand cubic feet
mcf/d		thousand cubic feet per day
mmcf/d		million cubic feet per day
NGLs		natural gas liquids
WTI		West Texas Intermediate

The MIL Network –

March 26, 2025

MIL-OSI USA: News 03/25/2025 Blackburn, Schatz, Introduce Bipartisan Legislation to Boost U.s. Cultural Trade Amid Competition From China

US Senate News:

Source: United States Senator Marsha Blackburn (R-Tenn)
WASHINGTON, D.C. – Today, U.S. Senators Marsha Blackburn (R-Tenn.) and Brian Schatz (D-Hawaii) introduced the Cultural Trade Promotion Act of 2025, bipartisan legislation to strengthen America’s creative industries and expand cultural exports. By bolstering the creative economy, this legislation will help U.S. businesses—including Native-owned, small, and rural enterprises—reach new global markets, create jobs, and strengthen America’s influence abroad amidst increasing competition from China.
“We cannot allow China to continue to outpace the United States in overall cultural exports, and Tennessee is home to countless creative entrepreneurs who need support to export their products and grow their businesses,” said Senator Blackburn. “The Cultural Trade Promotion Act would improve access to international shipping services for these small businesses to strengthen our economy and promote high-quality American goods.”
“America’s creative industries are a powerful force, driving jobs at home and shaping perceptions of our country abroad. Recently, China has doubled down on promoting its cultural exports, and we’ve been falling behind,” said Senator Schatz. “This bipartisan bill will help us level the playing field by expanding export opportunities for American businesses everywhere from Maui to Memphis so that our creative economy remains the global leader.”
Over the past decade, China has aggressively expanded its cultural trade through coordinated government investments and programs. In 2014, China surpassed the United States in overall cultural exports, and it continues to leverage cultural promotion as part of its Belt and Road Initiative. Meanwhile, America’s cultural trade surplus has declined, dropping from $31.5 billion in 2019 to $17.8 billion in 2021 before rebounding slightly to $21 billion in 2022, according to the National Endowment for the Arts.
The Cultural Trade Promotion Act would direct the Foreign Commercial Service to promote U.S. creative economy goods abroad and require the Trade Promotion Coordinating Committee to include the creative economy in its annual governmentwide strategic plan. The bill would also improve access to international shipping services for small businesses by facilitating collaboration between the International Trade Administration and the U.S. Postal Service. Additionally, it would promote products from American Indian, Alaska Native, and Native Hawaiian-owned businesses and include a representative of the creative industries on the Department of Commerce’s Travel and Tourism Advisory Board.

MIL OSI USA News –

March 26, 2025
MIL-OSI Global: Maritime truce would end a sorry war on the waves for Russia that set back its naval power ambitions

Source: The Conversation – Global Perspectives – By Colin Flint, Distinguished Professor of Political Science, Utah State University

A warship is seen docked in the port of the Black Sea city of Sochi. Mikhail Mordasov/AFP via Getty Images

Away from the grueling land battles and devastating airstrikes, the Ukraine war has from its outset had a naval element. Soon after the February 2022 invasion, Russia imposed a de facto naval blockade on Ukraine, only to see its fleet stunningly defeated during a contest for control of the Black Sea.

But that war on the waves looks like it could be ending.

Under the terms of a deal announced on March 25, 2025, by the U.S. and agreed upon in Saudi Arabia, both sides of the conflict committed to ensuring “safe navigation, eliminate the use of force, and prevent the use of commercial vessels for military purposes in the Black Sea,” according to a White House statement.

The naval aspect of the Ukraine war has gotten less attention than events on land and in the skies. But it is, I believe, a vital aspect with potentially far-reaching consequences.

Not only have Russia’s Black Sea losses constrained Moscow’s ability to project power across the globe through naval means, it has also resulted in Russia’s growing cooperation with China, where Moscow is emerging as a junior party to Beijing on the high seas.

Battle over the Black Sea

The tradition of geopolitical theory has tended to paint an oversimplification of global politics. Theories harkening back to the late 19th century categorized countries as either land powers or maritime powers.

Thinkers such as the British geopolitician Sir Halford Mackinder or the U.S. theorist Alfred Thayer Mahan characterized maritime powers as countries that possessed traits of democratic liberalism and free trade. In contrast, land powers were often portrayed as despotic and militaristic.

While such generalizations have historically been used to demonize enemies, there is still a contrived tendency to divide the world into land and sea powers. An accompanying view that naval and army warfare is somewhat separate has continued.

And this division gives us a false impression of Russia’s progress in the war with Ukraine. While Moscow has certainly seen some successes on land and in the air, that should not draw attention away from Russia’s stunning defeat in the Black Sea that has seen Russia have to retreat from the Ukrainian shoreline and keep its ships far away from the battlefront.

As I describe in my recent book, “Near and Far Waters: The Geopolitics of Seapower,” maritime countries have two concerns: They must attempt to control the parts of the sea relatively close to their coastlines, or their “near waters”; meanwhile, those with the ability and desire to do so try to project power and influence into “far waters” across oceans, which are the near waters of other countries.

The Black Sea is a tightly enclosed and relatively small sea comprising the near waters of the countries that surround it: Turkey to the south, Bulgaria and Romania to the west, Georgia to the east, and Ukraine and Russia to the north.

Control of the Black Sea’s near waters has been contested throughout the centuries and has played a role in the current Russian-Ukraine war.

Russia’s seizure of the Crimean Peninsula in 2014 allowed it to control the naval port of Sevastopol. What were near waters of Ukraine became de facto near waters for Russia.

Controlling these near waters allowed Russia to disrupt Ukraine’s trade, especially the export of grain to African far waters.

But Russia’s actions were thwarted through the collaboration of Romania, Bulgaria and Turkey to allow passage of cargo ships through their near waters, then through the Bosporus into the Mediterranean Sea.

Ukraine’s use of these other countries’ near waters allowed it to export between 5.2 million and 5.8 million tons of grain per month in the first quarter of 2024. To be sure, this was a decline from Ukraine’s exports of about 6.5 million tons per month prior to the war, which then dropped to just 2 million tons in the summer of 2023 because of Russian attacks and threats. Prior to the announcement of the ceasefire, the Foreign Agricultural Service of the U.S. Department of Agriculture had forecasted a decline in Ukrainian grain exports for 2025.

But efforts to constrain Russia’s control of Ukraine’s near waters in the Black Sea, and Russia’s unwillingness to face the consequences of attacking ships in NATO countries’ near waters, meant Ukraine was still able to access far waters for economic gain and keep the Ukrainian economy afloat.

For Putin, that sinking feeling

Alongside being thwarted in its ability to disrupt Ukrainian exports, Russia has also come under direct naval attack from Ukraine. Since February 2022, using unmanned attack drones, Ukraine has successfully sunk or damaged Russian ships and whittled away at Russia’s Black sea fleet, sinking about 15 of its prewar fleet of about 36 warships and damaging many others.

Russia has been forced to limit its use of Sevastopol and station its ships in the eastern part of the Black Sea. It cannot effectively function in the near waters it gained through the seizure of Crimea.

Russia’s naval setbacks against Ukraine are only the latest in its historical difficulties in projecting sea power and its resulting tendency to mainly focus on the defense of near waters.

In 1905, Russia was shocked by a dramatic naval loss to Japan. Yet even in cases where it was not outright defeated, Russian sea power has been continually constrained historically. In World War I, Russia cooperated with the British Royal Navy to limit German merchant activity in the Baltic Sea and Turkish trade and military reach in the Black Sea.

In World War II, Russia relied on material support from the Allies and was largely blockaded within its Baltic Sea and Black Sea ports. Many ships were brought close to home or stripped of their guns as artillery or offshore support for the territorial struggle with Germany.

During the Cold War, meanwhile, though the Soviet Union built fast-moving missile boats and some aircraft carriers, its reach into far waters relied on submarines. The main purpose of the Soviet Mediterranean fleet was to prevent NATO penetration into the Black Sea.

And now, Russia has lost control of the Black Sea. It cannot operate in these once secure near waters. These losses reduce its ability to project naval power from the Black Sea and into the Mediterranean Sea.

Ceding captaincy to China

Faced with a glaring loss in its backyard and put in a weak position in its near waters, Russia as a result can project power to far waters only through cooperation with a China that is itself investing heavily in a far-water naval capacity.

Joint naval exercises in the South China Sea in July 2024 are evidence of this cooperation. Wang Guangzheng of the Chinese People’s Liberation Army Navy’s Southern Theater said of the drill that “the China-Russia joint patrol has promoted the deepening and practical cooperation between the two in multiple directions and fields.” And looking forward, he claimed the exercise “effectively enhanced the ability to the two sides to jointly respond to maritime security threats.”

Warships of the Chinese and Russian navies take part in a joint naval exercise in the East China Sea.
Li Yun/Xinhua via Getty Images

This cooperation makes sense in purely military terms for Russia, a mutually beneficial project of sea power projection. But it is largely to China’s benefit.

Russia can help China’s defense of its northern near waters and secure access to far waters through the Arctic Ocean – an increasingly important arena as global climate change reduces the hindrance posed by sea ice. But Russia remains very much the junior partner.

Moscow’s strategic interests will be supported only if they match Chinese interests. More to the point, sea power is about power projection for economic gain. China will likely use Russia to help protect its ongoing economic reach into African, Pacific, European and South American far waters. But it is unlikely to jeopardize these interests for Russian goals.

To be sure, Russia has far-water economic interests, especially in the Sahel and sub-Saharan Africa. And securing Russian interests in Africa complements China’s growing naval presence in the Indian Ocean to secure its own, and greater, global economic interests. But cooperation will still be at China’s behest.

For much of the Ukraine war, Russia has been bottled up in its Black Sea near waters, with the only avenue for projecting its naval power coming through access to Africa and Indian Ocean far waters – and only then as a junior partner with China, which dictates the terms and conditions.

A maritime deal with Ukraine now, even if it holds, will not compensate for Russia’s ongoing inability to project power across the oceans on its own.

Editor’s note: This is an updated version of an article originally published by The Conversation U.S. on Oct. 3, 2024.

Colin Flint does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Maritime truce would end a sorry war on the waves for Russia that set back its naval power ambitions – https://theconversation.com/maritime-truce-would-end-a-sorry-war-on-the-waves-for-russia-that-set-back-its-naval-power-ambitions-253089

MIL OSI – Global Reports –

March 26, 2025
MIL-OSI Security: Security News: Evolutions Flooring Inc. and Its Owners to Pay $8.1 Million to Settle False Claims Act Allegations Relating to Evaded Customs Duties

Source: United States Department of Justice 2

Evolutions Flooring Inc. (Evolutions), a South San Francisco, California-based importer of multilayered wood flooring, and its owners, Mengya Lin and Jin Qian, have agreed to resolve allegations that they violated the False Claims Act by knowingly and improperly evading customs duties on imports of multilayered wood flooring from the People’s Republic of China (PRC). The settlement is based on Evolutions’ and its owners’ ability to pay.

“Import duties provide an important source of government revenue and level the playing field for U.S. manufacturers against their global competitors,” said Acting Assistant Attorney General Yaakov M. Roth of the Justice Department’s Civil Division. “The department will pursue those who seek an unfair advantage in U.S. markets, including by evading the duties owed on goods imported into this country from China.”

To enter goods into the United States, an importer must declare, among other things, the country of origin of the goods, the value of the goods, whether the goods are subject to duties, and the amount of duties owed. U.S. Customs and Border Protection (CBP) collects applicable duties, including antidumping and countervailing duties assessed by the Department of Commerce and Section 301 duties imposed by the Office of the United States Trade Representative. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies. Section 301 duties similarly protect U.S. industry by imposing trade sanctions on foreign countries that violate U.S. trade agreements or engage in other unreasonable acts that burden U.S. commerce. During the relevant time period, PRC-manufactured multilayered wood flooring products were subject to antidumping, countervailing, and Section 301 duties.

The settlement resolves allegations that Evolutions, at the direction of Lin and Qian, knowingly and improperly evaded customs duties, including antidumping, countervailing, and Section 301 duties, on multilayered wood flooring manufactured in the PRC that Evolutions imported between Sept. 1, 2019 and July 31, 2022. Among other things, the United States alleged that Evolutions caused false information to be submitted to CBP regarding the identity of the manufacturers and country of origin of the imported multilayered wood flooring.

“The outcome of this case demonstrates that the United States Attorney’s Office for the Central District of California and its CBP partners will continue to safeguard the nation’s economic well-being,” said Acting U.S. Attorney Joseph McNally for the Central District of California. “Fraud in international commerce deprives the United States of vital revenue and creates an unfair advantage over businesses that operate legitimately. The settlement sends a message that we will not stand aside when companies try to cheat the system.”

“The team at CBP was instrumental in providing expertise and logistical support to this investigation,” said Director of Field Operations Cheryl M. Davies of the CBP Los Angeles Field Office. “Through its efforts, which included a site visit to factories in Thailand, review of identified shipments by CBP experts on multilayered wood flooring, an analysis of import records and data by Office of Trade Regulatory Audit, and involvement in interviews with witnesses, CBP contributed to a successful outcome in this matter.”

The settlement with Evolutions and its owners resolves a lawsuit filed by Urban Global LLC under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The civil lawsuit was filed in the Central District of California and is captioned United States ex rel. Urban Global LLC v. Struxtur Inc. et al., No. CV20-7217 (C.D. Cal.). As part of today’s resolution, relator Urban Global LLC will receive approximately $1,215,000 of the settlement proceeds.

The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Central District of California, with assistance from CBP’s Office of Chief Counsel, West Region and Trade Regulatory Audit and the Center of Excellence and Expertise for Industrial and Manufacturing Materials within CBP’s Office of Trade.

Senior Trial Counsel Christelle Klovers of the Justice Department’s Civil Division and Assistant U.S. Attorney Desmond Jui for the Central District of California handled the case.

The claims resolved by the settlement are allegations only; there has been no determination of liability.

MIL Security OSI –

March 26, 2025
MIL-OSI USA: Evolutions Flooring Inc. and Its Owners to Pay $8.1 Million to Settle False Claims Act Allegations Relating to Evaded Customs Duties

Source: US State of North Dakota

Evolutions Flooring Inc. (Evolutions), a South San Francisco, California-based importer of multilayered wood flooring, and its owners, Mengya Lin and Jin Qian, have agreed to resolve allegations that they violated the False Claims Act by knowingly and improperly evading customs duties on imports of multilayered wood flooring from the People’s Republic of China (PRC). The settlement is based on Evolutions’ and its owners’ ability to pay.

“Import duties provide an important source of government revenue and level the playing field for U.S. manufacturers against their global competitors,” said Acting Assistant Attorney General Yaakov M. Roth of the Justice Department’s Civil Division. “The department will pursue those who seek an unfair advantage in U.S. markets, including by evading the duties owed on goods imported into this country from China.”

To enter goods into the United States, an importer must declare, among other things, the country of origin of the goods, the value of the goods, whether the goods are subject to duties, and the amount of duties owed. U.S. Customs and Border Protection (CBP) collects applicable duties, including antidumping and countervailing duties assessed by the Department of Commerce and Section 301 duties imposed by the Office of the United States Trade Representative. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies. Section 301 duties similarly protect U.S. industry by imposing trade sanctions on foreign countries that violate U.S. trade agreements or engage in other unreasonable acts that burden U.S. commerce. During the relevant time period, PRC-manufactured multilayered wood flooring products were subject to antidumping, countervailing, and Section 301 duties.

The settlement resolves allegations that Evolutions, at the direction of Lin and Qian, knowingly and improperly evaded customs duties, including antidumping, countervailing, and Section 301 duties, on multilayered wood flooring manufactured in the PRC that Evolutions imported between Sept. 1, 2019 and July 31, 2022. Among other things, the United States alleged that Evolutions caused false information to be submitted to CBP regarding the identity of the manufacturers and country of origin of the imported multilayered wood flooring.

“The outcome of this case demonstrates that the United States Attorney’s Office for the Central District of California and its CBP partners will continue to safeguard the nation’s economic well-being,” said Acting U.S. Attorney Joseph McNally for the Central District of California. “Fraud in international commerce deprives the United States of vital revenue and creates an unfair advantage over businesses that operate legitimately. The settlement sends a message that we will not stand aside when companies try to cheat the system.”

“The team at CBP was instrumental in providing expertise and logistical support to this investigation,” said Director of Field Operations Cheryl M. Davies of the CBP Los Angeles Field Office. “Through its efforts, which included a site visit to factories in Thailand, review of identified shipments by CBP experts on multilayered wood flooring, an analysis of import records and data by Office of Trade Regulatory Audit, and involvement in interviews with witnesses, CBP contributed to a successful outcome in this matter.”

The settlement with Evolutions and its owners resolves a lawsuit filed by Urban Global LLC under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The civil lawsuit was filed in the Central District of California and is captioned United States ex rel. Urban Global LLC v. Struxtur Inc. et al., No. CV20-7217 (C.D. Cal.). As part of today’s resolution, relator Urban Global LLC will receive approximately $1,215,000 of the settlement proceeds.

The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Central District of California, with assistance from CBP’s Office of Chief Counsel, West Region and Trade Regulatory Audit and the Center of Excellence and Expertise for Industrial and Manufacturing Materials within CBP’s Office of Trade.

Senior Trial Counsel Christelle Klovers of the Justice Department’s Civil Division and Assistant U.S. Attorney Desmond Jui for the Central District of California handled the case.

The claims resolved by the settlement are allegations only; there has been no determination of liability.

MIL OSI USA News –

March 26, 2025
MIL-OSI USA: Warner, Colleagues Introduce Bipartisan Legislation to Respond to Financial Threats from Community Party of China
US Senate News:
Source: United States Senator for Commonwealth of Virginia Mark R Warner

WASHINGTON – Today, U.S. Sen. Mark R. Warner (D-VA), joined by U.S. Sens. Mike Rounds (R-SD) and Cynthia Lummis (R-WY), introduced the China Financial Threat Mitigation Act, legislation aimed at shoring up America’s response to financial threats stemming from the Chinese Communist Party (CCP).

The China Financial Threat Mitigation Act would require deeper analysis of potential financial threats from the CCP that may have substantial impacts on the U.S. economy.

“We continue to see increased aggression from the Chinese Communist Party towards the United States, including in the financial sector. This increased action requires us to take meaningful steps to protect U.S. institutions and interests. That’s why I’m proud to introduce this bipartisan legislation that will help to shore up our financial systems and ensure that the U.S. is prepared to counter the CCP’s attacks,” said Sen. Warner.

“The Chinese Communist Party has the ability to intervene in China’s banking system to achieve outcomes that benefit them the most, which has potential to harm American businesses,” said Sen. Rounds. “We must gain a clearer understanding of how China’s financial sector affects the U.S. economy and other global financial systems. Our legislation tasks the Treasury Department, working with other federal agencies, to assess and report on U.S. exposure to China’s financial activities, providing a clearer picture of the threat.”

“The Chinese Communist Party is a serious threat to our national and economic security,” said Sen. Lummis. “I am partnering with my colleagues to protect U.S. financial interests and hold the CCP accountable, and I look forward to getting this bipartisan legislation across the finish line.”

The legislation would also require the Department of the Treasury, in consultation with the Federal Reserve, U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and State Department, to issue a report on the exposure of the United States to the threats posed by China’s financial sector. Specifically, the required report must include:
- Effects the reforms to China’s financial sector have on U.S. and global financial systems;
- Description of the policies the United States is adopting to protect U.S. interests;
- Description and analysis of any risks presented by China to the financial stability of the United States and the global economy; and
- Recommendations for additional actions to strengthen international cooperation to mitigate risks and protect U.S. interests.
As Vice Chairman of the Senate Select Committee on Intelligence, Sen. Warner has worked to ensure the U.S. is prepared to counter threats posed by foreign adversaries including the CCP across various sectors. Sen. Warner spearheaded the push to force CCP-based Bytedance to divest from TikTok in order to allow the app to continue operations in the United States. Last year, Sen. Warner introduced the Countering CCP Drones and Supporting Drones for Law Enforcement Act, legislation to cut off dangerous CCP drone companies from the U.S. telecommunication infrastructure. Sen. Warner also introduced bipartisan and bicameral legislation to improve information sharing between private companies and the Intelligence Community in order to mitigate the threat that foreign adversaries including the CCP pose to United States companies in foreign jurisdictions on projects relating to energy generation and storage, including in the critical minerals industry. This legislation is the latest step in his efforts to safeguard American interests.

The legislation was introduced in the House of Representatives by U.S. Reps. Josh Gottheimer (D-NJ) and Roger Williams (R-TX).

Full text of the legislation is available here.
MIL OSI USA News –
March 26, 2025
MIL-OSI Asia-Pac: Speech by Acting CE at Wealth for Good in Hong Kong Summit Principal Dinner (English only) (with photo/video)

Source: Hong Kong Government special administrative region

Speech by Acting CE at Wealth for Good in Hong Kong Summit Principal Dinner (English only) (with photo)
Distinguished guests, ladies and gentlemen,

Good evening. It is with great pleasure that I welcome you to tonight’s Principal Dinner, on the eve of the third annual Wealth for Good in Hong Kong Summit.

Allow me to begin by thanking our Hong Kong dancers for their elegant and innovative approach to the traditional Chinese lion dance – tonight performed as a lion ballet dance. That mingling of Asian and Western cultures is very much in keeping with today’s Hong Kong, the world’s rising East-meets-West centre for international cultural exchange.

Hong Kong’s singular role as a gainful bridge between East and West is why many of you are here, with us, from all over the world – from Mainland China and throughout Asia, from Europe, the Americas, the Middle East and beyond. And while our Chief Executive, John Lee, is unfortunately away on a duty visit, I am delighted to be your host for this evening’s gala dinner.

Over these next few days, I invite you to immerse yourselves in all that Hong Kong has to offer – to discover, first-hand, why our city is the leading choice for family offices.

And for good reason. Hong Kong is a super-connector bringing together people and ideas. We are a platform for visionaries looking to create lasting legacies, a dynamic hub where your offices and families can flourish.

The theme of this year’s Wealth for Good in Hong Kong Summit, “Hong Kong of the World, for the World,” smartly reflects that reality, spotlights our commitment to international collaboration and mutual rewards.

Hong Kong’s advantages are clear and unique. Our “one country, two systems” framework ensures close and beneficial ties with our country and deep connectivity with the rest of the world.

It helps, too, that Hong Kong is China’s international financial centre and one of the world’s major financial centres. In the latest Global Financial Centres Index, out last week, Hong Kong maintained its position as the world’s third-ranked financial centre, and the top in the Asia-Pacific. In the Index’s “human capital,” “infrastructure” and “financial sector development” areas, Hong Kong climbed to second, worldwide, while our rankings in “business environment” and “reputational and general” rose to third, globally.

We are at the forefront of digitalisation, too, the first government to issue tokenised green bonds, demonstrating our flexibility and support for financial technology.

And we will soon publish a second policy statement on virtual assets, including advancing stablecoin regulations to set a new global standard for the future of digital finance.

Hong Kong is also a hub for world-class events such as this evening’s. We bring together thought leaders, policymakers, and industry innovators to help shape the future of finance, technology and sustainability.

Yesterday, the Milken Institute held its second Global Investors’ Symposium, attracting senior players from finance, business, technology, healthcare, philanthropy and government.

It’s just one of a number of events making up our “Wealth & Investment Mega-Event Week”. The HSBC Global Investment Summit opened earlier today. On Thursday, we have the Bloomberg Family Office Summit. And the World Economic Forum is hosting several sustainability-themed events here, including Friday’s One Earth Summit.

Our commitment to creating an enriching environment extends beyond finance and investment. Earlier this month, we opened Kai Tak Sports Park, the striking, pearl-like landmark rising from the waterfront in East Kowloon.

The world-class venue features a 50 000-seat stadium, complete with a retractable roof, and stunning views to Victoria Harbour from the South Stand. The 100-metre Champions Bar will be a popular watering hole this weekend, given that the renowned Hong Kong Sevens kicks off on Friday.

And there’s more, much more, on tap this month in Hong Kong. Art Basel Hong Kong opens this week, featuring more than 240 galleries from 42 countries and regions. And the five-day Art Central opens tomorrow, spotlighting Asian galleries and emerging artists.

Family offices, let me add, are no less critical to Hong Kong’s flourishing future.

At the inaugural Wealth for Good in Hong Kong Summit, in 2023, we issued a Policy Statement setting out our strategic vision for family offices.

The majority of the Policy Statement’s eight initiatives have already been implemented, I’m pleased to tell you.

They include establishing a dedicated FamilyOfficeHK team within Invest Hong Kong. To date, the team has helped more than 160 family offices set up or expand their operations in Hong Kong.

We’ve also launched the New Capital Investment Entrant Scheme, designed to attract asset owners to invest and reside in Hong Kong.

And, more good news, a series of enhancement measures are now in place. They include recognising jointly owned assets and investments through specified family-owned entities. And that works well with the tax concession regime we introduced in 2023 for single-family offices.

We are, let me add, expanding tax concessions for single-family offices, increasing the types of qualifying transactions. Add it up, and I think you’ll agree with me that Hong Kong is one of the world’s most attractive destinations for asset owners.

More good reason to turn to Hong Kong for your family office future. You’ll be in good company, with more than 2 700 single-family offices now operating here.

Ladies and gentlemen, I believe we’re just one group photo away from a fine dinner and a fabulous evening.

I wish you all a rewarding Summit and a memorable stay in Hong Kong, Asia’s world city. Thank you.
Issued at HKT 20:30

NNNN

MIL OSI Asia Pacific News –

March 26, 2025

MIL-OSI Asia-Pac: Revolutionizing Mobility

Source: Government of India

Revolutionizing Mobility

The Make in India Auto Story

Posted On: 25 MAR 2025 5:39PM by PIB Delhi

Key Takeaways

Make in India has boosted domestic car production and EV manufacturing.
The automobile sector contributes approximately 6% to India’s national GDP
Vehicle production grew from 2 million (1991-92) to 28 million (2023-24).
Automobile exports reached 4.5 million units in FY 2023-24.
US $36 billion FDI attracted in the past four years.
4.4 million EVs registered, with 6.6% market penetration.
PLI & PM E-DRIVE schemes supporting EV and battery manufacturing.
GST on EVs reduced from 12% to 5%.
India’s auto component sector contributes 2.3% to GDP and employs 1.5 million people directly.
The sector grew at a CAGR of 8.63% from FY16-FY24.
Exports reached US$ 21.2 billion in FY24 and are projected to hit US$ 30 billion by 2026.
The government is actively promoting electric mobility and advanced automotive technologies.

Introduction

Launched in 2014, the Make in India initiative has significantly transformed India’s automobile industry, fostering domestic car production and accelerating electric vehicle (EV) manufacturing. Over the past decade, policy reforms, fiscal incentives, and infrastructure development have positioned India as a key global automotive hub. The sector has attracted substantial investments, spurred innovation, and increased localization, contributing to economic growth and sustainability.

The Indian auto industry is one of the fastest-growing sectors. It embarked on a new journey in 1991 with the de-licensing of the sector and subsequent opening up for 100 percent FDI through the ‘automatic route’. Since then, almost all the global majors have set up their manufacturing facilities in India, taking the level of production of vehicles from 2 million in 1991-92 to around 28 million in 2023-24.

The turnover of the Indian automotive industry is about USD 240 billion (20 Lakh Crore), which translates into a large contribution to the country’s economy and manufacturing sector. As per the Annual Report 2024-25 of the Ministry of Heavy Industries, around 30 million jobs (Direct: 4.2 million and Indirect: 26.5 million) are supported by the Indian Auto Industry. Indian Automotive Industry exported vehicles and auto components amounting to about USD 35 billion. In terms of global standing, India is the largest manufacturer of three-wheelers, among the top 2 manufacturers of two-wheelers in the world, the top 4 manufacturers of passenger vehicles, and the top 5 manufacturers of commercial vehicles in the world.

Auto Components Industry in India

The auto component sector is one of the key pillars of India’s manufacturing industry, supplying critical parts and systems to domestic vehicle manufacturers and exporting to major global markets. The industry covers a broad spectrum of products, including engine parts, transmission systems, braking systems, electrical and electronics components, body and chassis parts, and more. India has become a preferred destination for auto component manufacturing due to its cost competitiveness, skilled workforce, and strong policy support. The auto component sector is expected to reach the $100 billion export target by 2030 making the sector one of the largest job creators in the country.

Overview of the Auto Components Industry

Contribution to GDP	2.3%
Direct Employment	1.5 million people
Industry Turnover (FY24)	Rs. 6.14 lakh crore (US$ 74.1 billion)
Domestic OEM Supply Share	54%
Export Share	18%
CAGR (FY16-FY24)	8.63%
Export Value (FY24)	US$ 21.2 billion
Projected Exports (2026)	US$ 30 billion

India’s auto component sector contributes 2.3% to India’s GDP, directly employing over 1.5 million people. The sector’s turnover in FY24 was Rs. 6.14 lakh crore (US$ 74.1 billion), with domestic OEM supplies making up 54%, and exports contributing 18%. Over FY16-FY24, the industry grew at a CAGR of 8.63%. In FY24, exports reached US$ 21.2 billion, with a trade surplus of US$ 300 million, and are projected to hit US$ 30 billion by 2026.

The Indian auto components industry exports over 25% of its production annually. By FY28, the Indian auto industry aims to invest US$ 7 billion to boost the localisation of advanced components like electric motors and automatic transmissions by reducing imports and leveraging the “China Plus One” trend. In 2023, the auto component industry achieved a 5.8% reduction in imports over two years. The majority of the components sold to Original Equipment Manufacturers (OEMs) are engine components (26%), body/chassis/BIW (14%), suspension and braking (15%), drive transmission and steering (13%), and electricals & electronics (11%). Major exports are to Europe (US$ 6.89 billion), followed by North America (US$ 6.19 billion) and Asia (US$ 5.15 billion).

Growth in Domestic Automobile Production

The automobile sector contributes approximately 6% to India’s national GDP, with exports reaching 4.5 million units across all categories in FY 2023-24, including 6.72 million passenger vehicles and 3.45 million 2-wheelers. Global automotive companies like Skoda Auto Volkswagen India exporting 30% of their production and Maruti Suzuki exporting around 2.8 lakh units annually, exemplify this trend.

The sector has attracted $36 billion in Foreign Direct Investment (FDI) over the past four years, highlighting India’s growing prominence in the global automotive landscape. Major international players are making substantial commitments, with Hyundai planning a USD 4 billion (INR 33,200 Crore) expansion, while Mercedes-Benz has pledged USD 360 million (INR 3,000 Crore). Recently, Toyota announced a USD 2.3 billion (INR 20,000 Crore) investment to further increase its capacity.

Electric Vehicle (EV) Manufacturing Boom

The country is also advancing in sustainable mobility, with 4.4 million Electric Vehicles (EV) registered by August 2024, including 9.5 lakh in the first eight months of 2024, achieving a 6.6% market penetration. To support this growth, the government has implemented initiatives such as the Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) battery storage. In the 2024-25 Budget, the government allocated INR 2,671.33 crore under the FAME scheme and proposed the exemption of customs duties from the import of critical minerals required for EV cell components manufacturing.

Additionally, in March 2024, the Electric Mobility Promotion Scheme (EMPS) was launched with an INR 500 Crore outlay for four months, specifically targeting support for the two and three-wheeler segments to expedite the transition to electric vehicles. These initiatives align with the recent discovery of lithium deposits in Jammu & Kashmir, positioning India to become a key player in the global battery manufacturing industry in the coming years. The Indian EV sector is likewise developing quickly and is predicted to record a growth of USD 113.99 billion in 2029.

As per the inputs provided by Society of Indian Automobile Manufacturers (SIAM), the total annual production of Electric Vehicles (EVs) in India during the last five years, year-wise is as given below:

The Ministry of Heavy Industries has formulated the following schemes to promote electric vehicles (EVs) and to address the various challenges faced in adoption of electric mobility including availability and accessibility of charging stations in the country:

Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme Phase-II: The Government implemented this scheme for a period of five years from 1 April 2019 with a total budgetary support of INR 11,500 Crore. The scheme incentivised e-2Ws, e-3Ws, e-4Ws, e-buses and EV public charging stations. The Department of Heavy Industries has also sanctioned 2636 charging stations in 62 cities across 24 States/UTs under phase II. State-wise allocation of these charging stations is as follows:

Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India (PLI-Auto): The Government notified this scheme on 23 September 2021 for Automobile and Auto Component Industry in India for enhancing India’s manufacturing capabilities for Advanced Automotive Technology (AAT) products with a budgetary outlay of INR 25,938 Crore. The scheme proposes financial incentives to boost domestic manufacturing of AAT products with minimum 50% Domestic Value Addition (DVA) and attract investments in the automotive manufacturing value chain.

Feature	Details
Budgetary Outlay	Rs. 25,938 crore
Target Years	FY 2022-23 to FY 2026-27
Domestic Value Addition	Minimum 50%
Focus	Advanced Automotive Technology (AAT) products
Targeted Technologies	Electric Vehicles (EVs) and Hydrogen Fuel-Cell Components
Incentives for EVs and Hydrogen Fuel-Cell Components	13% – 18%
Incentives for AAT components	8% – 13%
Investment Attraction	Global OEMs
Eligibility	Both domestic and export sales

PLI Scheme for Advanced Chemistry Cell (ACC): The Government on 12 May 2021 approved PLI Scheme for manufacturing of ACC in the country with a budgetary outlay of INR 18,100 Crore. The scheme aims to establish a competitive domestic manufacturing ecosystem for 50 GWh of ACC batteries.
PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme: This scheme with an outlay of INR 10,900 Crore was notified on 29 September 2024. It is a two-year scheme which aims to support electric vehicles including e-2W, e-3W, e-Trucks, e-buses, e-Ambulances, EV public charging stations and upgradation of vehicle testing agencies.
PM e-Bus Sewa-Payment Security Mechanism (PSM) Scheme: This Scheme notified on 28 October 2024, has an outlay of INR 3,435.33 Crore and aims to support deployment of more than 38,000 electric buses. The objective of scheme is to provide payment security to e-bus operators in case of default by Public Transport Authorities (PTAs).
Scheme for Promotion of Manufacturing of Electric Passenger Cars in India (SMEC) was notified on 15 March 2024 to promote the manufacturing of electric cars in India. This requires applicants to invest a minimum of INR 4,150 crore and to achieve a minimum DVA of 25% at the end of the third year and DVA of 50% at the end of the fifth year.

Measures taken by other Ministries include the following initiatives:

Ministry of Power has issued guidelines and standards for EV Charging Infrastructure titled, “Guidelines for Installation and Operation of Electric Vehicle Charging Infrastructure-2024” on 17 September 2024. These revised guidelines outline standards and protocols to create a connected & interoperable EV charging infrastructure network in the country.
Ministry of Finance has reduced GST on EVs from 12% to 5%.
Ministry of Road Transport & Highways (MoRTH) announced that the battery-operated vehicles will be given green plates and be exempted from permit requirements.
Ministry of Housing and Urban Affairs has amended the Model Building Bye-Laws, mandating the inclusion of charging stations in private and commercial buildings.

Conclusion

The Make in India initiative has driven unprecedented growth in India’s automobile sector and Indi’s auto component sector, significantly boosting domestic car production and EV manufacturing. Through sustained policy support, investment influx, and technological advancements, India is on track to becoming a global leader in automotive and electric mobility and achieving greater self-reliance in the automotive sector.

References

https://e-amrit.niti.gov.in/national-level-policy

https://www.investindia.gov.in/sector/automobile

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2084148

https://www.makeinindia.com/6-superstar-sectors-boosting-make-india

https://sansad.in/getFile/annex/266/AU2160_wHAoIx.pdf?source=pqars

https://www.startupindia.gov.in/content/sih/en/bloglist/blogs/automobiles.html

https://www.heavyindustries.gov.in/sites/default/files/2025-02/heavy_annual_report_2024-25_final_27.02.2025_compressed.pdf

https://sansad.in/getFile/loksabhaquestions/annex/183/AU1262_4BzeHa.pdf?source=pqals

https://static.pib.gov.in/WriteReadData/specificdocs/documents/2024/sep/doc2024925401801.pdf

https://www.investindia.gov.in/sector/auto-components

https://heavyindustries.gov.in/pli-scheme-automobile-and-auto-component-industry

https://www.myscheme.gov.in/schemes/plisaaci

https://pib.gov.in/PressReleasePage.aspx?PRID=2053179

https://pib.gov.in/PressReleasePage.aspx?PRID=2085938

https://invest.up.gov.in/auto-components-sector/

Click here to see in PDF:

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MIL OSI Asia Pacific News –

March 26, 2025

MIL-OSI Security: Evolutions Flooring Inc. and Its Owners to Pay $8.1 Million to Settle False Claims Act Allegations Relating to Evaded Customs Duties

Source: United States Attorneys General

Evolutions Flooring Inc. (Evolutions), a South San Francisco, California-based importer of multilayered wood flooring, and its owners, Mengya Lin and Jin Qian, have agreed to resolve allegations that they violated the False Claims Act by knowingly and improperly evading customs duties on imports of multilayered wood flooring from the People’s Republic of China (PRC). The settlement is based on Evolutions’ and its owners’ ability to pay.

“Import duties provide an important source of government revenue and level the playing field for U.S. manufacturers against their global competitors,” said Acting Assistant Attorney General Yaakov M. Roth of the Justice Department’s Civil Division. “The department will pursue those who seek an unfair advantage in U.S. markets, including by evading the duties owed on goods imported into this country from China.”

To enter goods into the United States, an importer must declare, among other things, the country of origin of the goods, the value of the goods, whether the goods are subject to duties, and the amount of duties owed. U.S. Customs and Border Protection (CBP) collects applicable duties, including antidumping and countervailing duties assessed by the Department of Commerce and Section 301 duties imposed by the Office of the United States Trade Representative. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies. Section 301 duties similarly protect U.S. industry by imposing trade sanctions on foreign countries that violate U.S. trade agreements or engage in other unreasonable acts that burden U.S. commerce. During the relevant time period, PRC-manufactured multilayered wood flooring products were subject to antidumping, countervailing, and Section 301 duties.

The settlement resolves allegations that Evolutions, at the direction of Lin and Qian, knowingly and improperly evaded customs duties, including antidumping, countervailing, and Section 301 duties, on multilayered wood flooring manufactured in the PRC that Evolutions imported between Sept. 1, 2019 and July 31, 2022. Among other things, the United States alleged that Evolutions caused false information to be submitted to CBP regarding the identity of the manufacturers and country of origin of the imported multilayered wood flooring.

“The outcome of this case demonstrates that the United States Attorney’s Office for the Central District of California and its CBP partners will continue to safeguard the nation’s economic well-being,” said Acting U.S. Attorney Joseph McNally for the Central District of California. “Fraud in international commerce deprives the United States of vital revenue and creates an unfair advantage over businesses that operate legitimately. The settlement sends a message that we will not stand aside when companies try to cheat the system.”

“The team at CBP was instrumental in providing expertise and logistical support to this investigation,” said Director of Field Operations Cheryl M. Davies of the CBP Los Angeles Field Office. “Through its efforts, which included a site visit to factories in Thailand, review of identified shipments by CBP experts on multilayered wood flooring, an analysis of import records and data by Office of Trade Regulatory Audit, and involvement in interviews with witnesses, CBP contributed to a successful outcome in this matter.”

The settlement with Evolutions and its owners resolves a lawsuit filed by Urban Global LLC under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The civil lawsuit was filed in the Central District of California and is captioned United States ex rel. Urban Global LLC v. Struxtur Inc. et al., No. CV20-7217 (C.D. Cal.). As part of today’s resolution, relator Urban Global LLC will receive approximately $1,215,000 of the settlement proceeds.

The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Central District of California, with assistance from CBP’s Office of Chief Counsel, West Region and Trade Regulatory Audit and the Center of Excellence and Expertise for Industrial and Manufacturing Materials within CBP’s Office of Trade.

Senior Trial Counsel Christelle Klovers of the Justice Department’s Civil Division and Assistant U.S. Attorney Desmond Jui for the Central District of California handled the case.

The claims resolved by the settlement are allegations only; there has been no determination of liability.

MIL Security OSI –

March 26, 2025
MIL-OSI USA: Hawley Applauds Trump Admin’s $20B Investment to Make New Fighter Jets in St. Louis

US Senate News:

Source: United States Senator Josh Hawley (R-Mo)

Tuesday, March 25, 2025

Today, U.S. Senator Josh Hawley (R-Mo.) applauded President Donald Trump and Defense Secretary Pete Hegseth’s announcement that the Air Force would award Boeing with a $20 billion contract to develop a sixth-generation stealth fighter jet, the F-47, in the St. Louis region.

“Once again, St. Louis is leading the way in our nation’s defense. I’m proud that President Trump and Secretary Hegseth have decided that the next generation of our nation’s air power will be made in Missouri, supporting thousands of jobs. Since I arrived in the Senate, I have pushed for funding to develop these next generation aircraft, and I will continue to work to deliver critical military investments in our state,” Senator Hawley said.

Senator Hawley first pushed for funding of these next generation fighter jets in the FY2020 National Defense Authorization Act (NDAA) as a member of the Senate Armed Services Committee.

The Air Force intends for the F-47 to deter China from threatening American influence in the Indo-Pacific.

MIL OSI USA News –

March 26, 2025
MIL-OSI USA: King Grills Intelligence Officials Over Signal Chain Potential Security Breach

US Senate News:

Source: United States Senator for Maine Angus King

WASHINGTON, D.C. — In a Senate Select Intelligence Committee (SSCI) hearing, U.S. Senator Angus King (I-ME) pressed Director of National Intelligence Tulsi Gabbard on whether or not classified information was shared in a Signal chain made up of top national security and intelligence officials discussing plans of a military attack on Houthi militants — and, inadvertently, Jeffery Goldberg, the editor-in-chief of The Atlantic. The hearing comes the day after The Atlantic published a story revealing that National Security Advisor Mike Waltz accidentally added Goldberg to the chain where potentially classified information was discussed — including plans about strategic strikes in Yemen that were later carried out.

“According to open source reporting, at 11:44 on the morning of March 15th, Secretary Hegseth put into this group text a detailed operation plan including targets, the weapons we were going to be using, attack sequences and timing. Yet you have testified that nothing in that text chain was classified. Wouldn’t that be classified? What if that had been made public that morning before the attack took place,” asked Senator King.

“Senator, I can attest to the fact that there were no classified or intelligence equities that were included in that chat at any time,” replied Director Gabbard.

“So the attack sequencing and timing and weapons, you do not consider should have been classified, or were classified,” Senator King asked again.

“I defer to Secretary of Defense and the National Security Council on that question,” responded Director Gabbard.

“Well you’re the head of the Intelligence Community and you’re supposed to know about classifications so your testimony very clearly today was that nothing in that set of texts that was classified. If that is the case, please release the whole text stream so that the public can have a view of what actually transpired on this discussion. It is hard for me to believe that targets and timing and weapons would not have been classified,” said Senator King.

Later in the hearing, Senator King, co-chair of the Cyberspace Solarium Commission (CSC), questioned Director Gabbard about the sweepings cuts being made at the Cybersecurity and Infrastructure Security Agency (CISA). Specifically, he asked her about the dismantling of federal efforts to monitor election interreference from foreign adversaries like Russia and China, and whether or not that posed a risk to the nation’s cybersecurity defenses.

“It is in the report repeatedly about cyber danger from China, Russia and Iran. Why then is the administration deconstructing CISA? 130 people fired. [U.S. CyberCom Commander] General Haugh talked about the importance of public-private cooperation. That section of CISA seems to have been disestablished. What possible policy reason is there for undermining CISA’s relationship to the states with regard to elections and to private sector with regard to cybersecurity when the cybersecurity threat is only growing? Anybody want to tackle that,” questioned Senator King.

“I will not speak for all of my colleagues here but I don’t believe any of us have any insight into those specific staffing decisions that have been made,” said Director Gabbard.

“Well let me ask you this question: The report has found explicitly growing cyber threats — including to elections — from Russia, China, and Iran. Do you believe it is in our national interest to diminish our capacity to deal with those cyber issues, yes or no,” Senator King asked.

“President Trump is focused on effects and making sure that the people and the resources that we have are focused on our national security. He and his team recognized that more people does not necessarily always mean better effects. Those are some of the things that are driving the changes we are seeing across the administration, is getting all of our agencies back and focused on their core mission,” replied Director Gabbard.

Senator King has been consistently sounding the alarm on President Donald Trump’s existential threat to the Constitution, as well as the reckless actions taken by the President and his Administration. He previously gave a speech on the Senate floor sharing that this administration is doing ‘exactly what the Framers [of the Constitution] most feared.” Senator King also previously declared that the proposal to halt all federal grant and loan disbursement was illegal and a direct assault on the Constitution. He also joined fellow Senate Select Committee on Intelligence (SSCI) colleagues in writing a letter to the White House about the risks to national security by allowing unvetted Department of Government Efficiency (DOGE) staff and representatives to access classified and sensitive government materials. Most recently, he sounded the alarm on the Senate floor on the “thoughtless and dangerous” firings and freezes being implemented by Elon Musks’ DOGE.

King is recognized as one of Congress’ leading experts on cyberdefense and as a strong advocate for a forward-thinking cyberstrategy that emphasizes layered cyberdeterrence. Since it officially launched in April 2019, dozens of CSC recommendations have been enacted into law, including the creation of a National Cyber Director.

MIL OSI USA News –

March 26, 2025
MIL-OSI United Nations: Amid Appalling Civilian Death Toll in Syria, Caretaker Authorities Must Signal ‘Era of Impunity’ Is Over, Special Envoy Tells Security Council

Source: United Nations 4

Several Speakers Urge Lifting Economic Sanctions on Damascus, Condemn Israel’s Ongoing Violations of Syria’s Sovereignty, Territorial Integrity

Meeting today — 14 years after the start of the civil war in Syria, four months since the fall of the former regime and weeks removed from harrowing violence along the country’s coast — the Security Council heard of the need for accountability and economic recovery so that the country can move towards credible, inclusive transition.

“The legacies of 14 years of war and conflict — and five decades of one-man rule — are huge,” said Geir O. Pedersen, the Secretary-General’s Special Envoy for Syria. “So are the immediate challenges facing the Syrians today,” he added. While many have rejoiced at their newfound ability to gather in public spaces without fear, many others have faced devastating violence on Syria’s coast. On that, he said that “armed groups associated with the former regime” attacked and ambushed caretaker authority forces across that region on 6 March. “Serious armed confrontations ensued, resulting in significant numbers of casualties among the warring factions,” he reported.

“But far more disturbing was the appalling civilian death toll,” he stressed, spotlighting “widespread footage of grave violations of a plainly sectarian and retaliatory nature”. Detailing the broader context of fomenting insecurity, hate speech, sense of exclusion and pent-up grievance, he said that further investigation is needed to fully determine the perpetrators of the “shocking” violence against civilians. For their part, the caretaker authorities have announced an independent investigative committee tasked with examining violations by all sides. He underscored that findings must be made public and those responsible held accountable to clearly signal that “the era of impunity in Syria is in the past”.

He went on to express concern over recent Israeli statements on the intention to stay in Syria “for the foreseeable future”, as well as demands for the “full demilitarization of southern Syria”, calling on the Council to “hold Israel to its commitment that this is a temporary presence”. Additionally, he detailed the caretaker authorities’ actions to establish a transitional Government, a permanent Constitution and transitional justice. “Syrians need an economic future,” he added, welcoming humanitarian pledges made at the ninth Brussels Conference on 17 March to support Syria’s recovery. However, observing that “more resources will be needed”, he also urged “fast and broad sanctions easing”.

Tom Fletcher, Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator, cited progress on that front, with expanded cross-border deliveries from Türkiye, engagement with Member States to ease sanctions, the repair of infrastructure to restore access to water and the clearance of over 1,700 pieces of unexploded ordnance. Nevertheless, he underscored: “We need more funding.” The 2024 Humanitarian Appeal for Syria was only 35 per cent funded, and in 2025, almost half of organizations funded by the United States have received full or partial stop orders.

Stating that $2 billion is needed to reach 8 million of the most vulnerable people through June, he noted that his office has only received $155 million to date — 13 per cent of what is needed. Yet, 16 million people — nearly three quarters of the Syrian population — lack sufficient food, water, shelter and medicine. While stating that there are real reasons for hope after 14 years of conflict and devastation, he stressed that “there is no time to spare”. He therefore urged those present to be “problem-solvers, rather than problem-observers”.

Next to brief was Joumana Seif, Co-founder of the Syrian Women’s Political Movement and Legal Adviser at the European Center for Constitutional and Human Rights, who pointed out that Syrians endured “immense” suffering under the rule of Bashar al-Assad. This led to sanctions, which affected not only the regime, but also ordinary citizens. “Now that Assad is no longer in power, there is no justification for maintaining these sanctions,” she stressed, adding that “what Syrians need most” is the immediate lifting of these measures alongside investment, reconstruction and economic revitalization.

Turning to the recent coastal violence, she underscored that this has “caused real concern for us Syrians”. She stressed: “We don’t want to build our new country on the back of a new massacre.” Instead, Syrians must create a transparent and inclusive plan for transitional justice, which requires consultation with victims’ associations and civil society to ensure fair trials, truth commissions, moral and financial compensation for victims and safeguards to prevent future atrocities. “All of this requires significant financial resources,” she observed. Additionally, she underscored the need to form an inclusive Government that “truly represents everyone without exclusion”.

As the floor opened, Lars Løkke Rasmussen, Minister for Foreign Affairs of Denmark and Council President for March, spoke in his national capacity to underscore that the interim Government “must protect Syrians from all religious and ethnic backgrounds”. He also underlined the need for an inclusive political transition. “Syrian society, in all its complexity and diversity, must be represented,” he urged. And on the issue of sanctions, he noted that the European Union suspended several such measures in February “to send a very clear signal to the Syrian people of our support towards a better future”.

Also underlining the European Union’s commitment to the Syrian people, the representative of France noted the suspension of certain restrictive measures to facilitate financial and bank transactions for the country’s reconstruction. Slovenia’s representative added that the bloc will consider a further lifting of sanctions depending on developments on the ground. The representative of Greece, meanwhile, emphasized that sanctions should be eased in a gradual, conditional and reversible manner to “ensure that our expectations are met” in terms of an inclusive transition and accountability for recent atrocities.

Many Council members also spotlighted the recent Brussels Conference, during which donors pledged nearly $6.5 billion in aid to support Syria’s recovery. The representative of the United Kingdom recalled that her country, at that event, promised up to $207 million in critical humanitarian assistance. In parallel, the United Kingdom has relaxed some of its sanctions on Syria and revoked the asset freezes of 24 entities and institutions in the energy, transport and finance sectors.

On the topic of assistance, Kang Insun, Vice-Minister for Foreign Affairs of the Republic of Korea, urged stronger international commitment to humanitarian aid and economic recovery in Syria to “overcome the pain and destruction of 14 years of conflict”. For its part, Seoul has provided nearly $150 million in humanitarian assistance to Syria and its neighbours over the past decade, and will continue to offer its support. “As [the Republic of] Korea has pledged, 2,400 tons of Korean rice will be delivered to assist food-insecure populations in Syria,” she reported. She also took “positive note” of recent developments regarding the suspension of certain sanctions.

Many Council members, echoing warnings of Syria’s dire economic and humanitarian situation, called for the lifting of unilateral sanctions on the country. Among them were the representatives of Panama and Pakistan — the latter of whom stressed that lifting sanctions is “imperative to facilitating reconstruction and aid efforts”. Algeria’s representative — also speaking for Guyana, Sierra Leone and Somalia — stressed: “Without rapid economic recovery, it will be difficult to envision a safe and prosperous future for Syrians.” Therefore, the swift lifting of unilateral sanctions is essential.

Additionally, he — like many other Council members today — expressed concern over “alarming” statements by Israeli officials regarding the “indefinite” presence of their forces in Syrian territory and their intention to establish a “demilitarized area” in the country’s south. Condemning these “irresponsible” statements — “which will only exacerbate regional instability” — he also joined others in calling for full respect for the 1974 Disengagement of Forces Agreement, including its provisions regarding the area of separation.

Similarly, the representative of the Russian Federation pointed to the “destructive role” played by Israeli air strikes against — and continued occupation of — Syrian territory. Condemning recent attacks by the Israel Defense Forces, he called on Israel to withdraw its units from areas taken since December 2023. Additionally, he expressed concern over the issue of foreign terrorist fighters still present in Syria — a point echoed by China’s representative, who urged the interim authorities to fulfil their counter-terrorism obligations and take decisive measures to combat all Council-listed terrorist organizations.

The representative of the United States also underscored that all foreign fighters “need to be removed from their posts immediately”. She also stressed that the interim authorities must embark on a political process that includes Kurdish, Druze, Alawite and Christian communities — “something they have not meaningfully done to date”. There must also be expansive representation of Syrian voices in the drafting of a permanent Constitution. Otherwise, she stressed, Syria will “remain in the sectarian shadow of the Assad regime, increasing the likelihood of a new civil war”.

For his part, the representative of Syria reported that, in the wake of recent violence, the Syrian leadership “affirmed that the new Syria will be a State of law and that the law will apply to all”. Further, such authorities have emphasized that shedding “the blood of the innocent will not go unpunished — regardless of the identity of the perpetrators”. Additionally, he urged the “full lifting of sanctions imposed on the Syrian people”. And pointing to an Israeli attack on the province of Daraa today, he called on the Council to “compel Israel to cease its ongoing aggression”.

Several of Syria’s neighbours also took the floor, with Iran’s representative condemning Israel’s ongoing violations of Syria’s sovereignty and territorial integrity. So, too, did the representative of Qatar, who additionally called for the lifting of economic sanctions against Syria as “that raison d’être is no longer there”. Jordan’s representative echoed that call, adding that countries hosting Syrian refugees cannot bear that burden alone. Therefore, the international community must provide financial and technical support in this regard.

The representative of Türkiye, meanwhile, welcomed a “new era” in Syria as the interim authorities work towards political transition. However, he voiced concern over provocations in Latakia and surrounding areas, which are aimed at undermining a smooth transition process. “These attacks should not be mischaracterized as a sectarian conflict between Damascus and the Alawite community,” he stressed, as “the international community must recognize that these were coordinated efforts, supported by certain regional actors, to destabilize Syria”.

MIL OSI United Nations News –

March 26, 2025
MIL-OSI USA: Africa Subcommittee Chairman Smith Delivers Opening Remarks at Hearing on the CCP’s Influence on Critical Minerals in Africa

Source: US House Committee on Foreign Affairs

Media Contact 202-226-8467

WASHINGTON, D.C. – Today, House Foreign Affairs Africa Subcommittee Chairman Chris Smith delivered opening remarks at a subcommittee hearing titled, “Metals, Minerals, and Mining: How the CCP Fuels Conflict and Exploitation in Africa.” 

Watch Here

-Remarks-

The extraction of valuable minerals has long been a double-edged sword for many African nations. While these resources hold the potential for economic development, their exploitation—particularly when managed irresponsibly or under corrupt regimes—has often fueled violence and instability. The Democratic Republic of Congo has vast mineral wealth, especially in cobalt and gold and other very, very important minerals, which has been a significant driver of conflict. Illicit gold mining also fuels conflict in Ethiopia and Sudan. Armed groups have profited from the extraction and smuggling of these resources, financing their operations and perpetuating cycles of violence. The United Nations has reported that mineral smuggling finances warfare, with various military forces and commanders exploiting illegal mining for personal gain.

In the DRC, there’s also estimated more than 70% of the world’s cobalt—some say as much as 75%—an essential mineral for lithium-ion batteries for smartphones, computers, and electric vehicles, is extracted there with bare hands of thousands, in some estimates put as high as 35,000 children, by one of our witnesses today, Mr. Les Lenet. Thank you for your very heavily footnoted testimony. If that were not horrible enough, the 2024 Trafficking in Persons Report also stated that “observers noted that children in mining areas are vulnerable to sexual violence, including sex trafficking, in part due to traditional religious beliefs that harming children could protect against death or ensure successful mining,” end quote—an absurdity, but that’s what has been said.

China’s near-monopoly over the output and processing of Africa’s mineral resources ensures that these abuses continue unchecked. The expansion of illicit gold mining in Ethiopia has exacerbated existing conflicts as well. Regional states and non-state armed actors vie for control over mining concessions, using the revenues to bolster their influence and in some cases to challenge state authority. This competition has intensified local disputes and undermined efforts toward national cohesion. In Sudan, gold mining operations have been linked to funding armed conflicts. The control over lucrative mining areas often leads to violent confrontations between various factions, further destabilizing the region and hindering peace efforts.

Illegal mining has led to environmental degradation and social unrest. The involvement of foreign entities, including Chinese nationals, in these operations has strained local communities and contributed to tensions between populists and the authorities. In response to these challenges, I have reintroduced the Cobalt Supply Chain Act. This legislation aims to ensure that goods made using or containing cobalt refined in the People’s Republic of China do not enter the U.S. market—addressing concerns that such cobalt is extracted and processed with the use of child and forced labor in the DRC. Then it comes back in our defense and commercial supply chains. Security is a national security issue, and the reliance on China for these critical minerals is a clear vulnerability to the United States and to the Western world.

As Co-Chair of the Congressional-Executive Commission on China, I held a hearing in November of 2023 that highlighted the problem of Chinese Communist Party dominance in the DRC’s cobalt supply chain and how China profits from these unethical mining practices. I also chaired a hearing in July of 2022 at the Tom Lantos Human Rights Commission on child labor and human rights violations in the mining industry of the DRC. One of our expert witnesses then said that child labor is one of the worst forms of child abuse—and that’s absolutely true. It is forbidden by both Congolese legislation as well as international rules and norms, and yet it continues.

The greatest beneficiaries of this system—China. China’s state-owned mining companies remain silent, refusing to confront an undeniable reality. From dirt to battery, from cobalt to cars, the entire supply chain is built on violence, exploitation, and corruption. This must change, and the time for change is now.

President Trump’s executive order for “immediate measures to increase American mineral production” is a crucial step toward strengthening our domestic supply chains. This action will create American jobs, drive economic growth, and reduce our reliance on foreign adversaries. The United States must break its dependence on minerals that finance the Chinese Communist Party, often extracted through forced child labor, and stop indirectly supporting the CCP’s efforts to fuel instability and regional conflict in Africa.

At the same time, as the CCP tightens its grip on global mineral markets, the U.S. must take decisive action. In line with this strategy, the U.S. Department of State has signaled openness to forming direct critical mineral partnerships with the DRC—an opportunity to strengthen collaboration in securing resources essential for our technological advancement and national security.

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MIL OSI USA News –

March 26, 2025
MIL-OSI Africa: Nguya Floating Liquefied Natural Gas (FLNG) to Sail Away from China in September 2025

Source: Africa Press Organisation – English (2) – Report:

BRAZZAVILLE, Congo (Republic of the), March 25, 2025/APO Group/ —

Nguya Floating Liquefied Natural Gas (FLNG) is set to sail away from China in September 2025, Federico Ricco, Development Director at Congo LNG, said at the Congo Energy & Investment Forum 2025 during the FLNG Developments in the Republic of Congo session.

The addition of the Nguya FLNG vessel is part of the second phase of the Congo LNG project – which began operating in December 2023 – and is expected to increase the project’s production capacity by 2.4 million tons per annum (mtpa).

“The vessel is currently under construction in China and will allow us to increase production to 3 million tons per year,” Ricco stated.

As the operator of Congo LNG, Eni has been at the forefront of gas monetization in the Republic of Congo, first with the development of the Centrale Électrique du Congo gas-to-power plant in 2011 and later through the implementation of the Congo LNG project. Ricco explained that “the first phase was completed within 12 months to enable LNG exports, which is remarkably fast.”

Echoing Ricco’s comments on the speed of FLNG deployment, Marien Ibiaho, Area Sales Manager for Europe & Africa at NOV, emphasized that, “Many LNG projects involve large-scale infrastructure and extensive construction. The advantage of FLNG is that it enables rapid gas monetization. The delivery timeline is fast – less than two years.”

For the Republic of Congo, FLNG has played a key role in positioning the country as an LNG exporter. Looking ahead, Ricco emphasized the need for continued exploration, greater collaboration and leveraging LNG to further strengthen Congo’s industrial capacity.

“We must keep exploring, work alongside other operators to maximize value in Congo, and ensure that LNG enhances the country’s industrial growth,” Ricco said. Expanding on his comments, Ibiaho stated, “For FLNG projects to succeed, the approach must be built on partnerships, not just a client-service provider relationship.”

Dr. Tsoumou-Gavouka Communications and Public Relations Advisor to the Director General, SNPC underscored the importance of partnerships in Congo’s LNG development, suggesting that Eni collaborate with Chinese oil company Wing Wah, which is preparing to launch its own LNG project.

The inaugural Congo Energy & Investment Forum, set for March 24-26, 2025, in Brazzaville, under the highest patronage of President Denis Sassou Nguesso and supported by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo, brings together international investors and local stakeholders to explore national and regional energy and infrastructure opportunities.

MIL OSI Africa –

March 26, 2025
MIL-OSI USA: Ricketts, Schiff Introduce Bipartisan Bill to Sanction Gaza Terrorist Group Responsible for Attacks Against Americans and Israelis

US Senate News:

Source: United States Senator Pete Ricketts (Nebraska)
WASHINGTON, D.C. – Today, U.S. Senators Pete Ricketts (R-NE) and Adam Schiff (D-CA) introducedthe Accountability for Terrorist Perpetrators of October 7th Act. The bipartisan, bicameral bill wouldsanction the Popular Resistance Committees (PRC), which is the third-largest terror group in Gaza. The PRC has claimed responsibility for over 100 terror attacks against Americans and Israelis. PRC members joined Hamas in murdering Americans and Israelis on October 7, 2023. U.S. Representatives David Kustoff (R-TN-08) and Brad Sherman (D-CA-32) lead companion legislation in the House.
“The Popular Resistance Committees (PRC) is the third-largest terrorist organization in Gaza and another puppet of Iran,” said Senator Ricketts. “Despite decades of attacks against Americans and Israelis, including on October 7th, the PRC has yet to be properly sanctioned for its barbarism. This bill will help hold accountable every terrorist that participated in the October 7th attacks.”
“For years, the Popular Resistance Committees have carried out terrorist attacks against Israelis, Americans, and Palestinians,” said Senator Schiff. “They were willing and cruel participants with Hamas during the horrific October 7th massacre, killing innocent Israelis and taking and holding hostages after that terrible attack. Any organization engaging in this level of violence should be sanctioned under U.S. law and officially designated as a terrorist group. The United States stands with Israel, and this is an important step to holding those responsible for October 7th accountable.”
“The terrorists responsible for the barbaric October 7th attack on Israel must be held accountable for their abhorrent actions against innocent men, women, and children,” said Representative Kustoff.“For years now, the Popular Resistance Committees, the third largest terror group in the Gaza strip, have terrorized Israelis and Americans in the region. Enough is enough. I am pleased to join Rep. Sherman to introduce this crucial legislation that will sanction the PRC.”
“Every day that we fail to sanction the terrorist Popular Resistance Committees – which have murdered Americans and Israelis for decades, and participated in the barbaric October 7th massacre including by taking hostages – is another day that we fail to secure justice for their victims,” said Representative Sherman. “It is long overdue that the Popular Resistance Committees are designated as a terrorist organization and sanctioned, alongside Hamas and Palestinian Islamic Jihad. I’m proud to reintroduce my legislation to finally hold these monsters accountable for the terror they have wreaked on innocents in the region.”
Bill text can be found here.
BACKGROUND:
The two largest terrorist groups in Gaza are Hamas and Palestinian Islamic Jihad (PIJ), which have long been sanctioned. Despite its record of terror, the PRC is not currently a U.S.-designated foreign terrorist organization. It is past time that the PRC, whose ranks include former operatives from Hamas and PIJ, join them on the U.S.’s list of designated terrorist groups.
The Popular Resistance Committees participated in Hamas’s horrific October 7th massacre, which resulted in the deaths of 1,200 Israelis, Americans, and others, as well as widespread torture and sexual violence as well as the abduction of some 250 hostages. The PRC proudly boasted about their involvement on their social media channels, issuing a statement on October 7th claiming joint responsibility for the massacre. The PRC’s posts stated that the PRC killed and captured IDF soldiers; the posts shared photos of items taken from their victims.
The Popular Resistance Committees have a long history of carrying out terror attacks across Israel and the Palestinian territories. In 2003, the PRC bombed a United States diplomatic convoy which injured a U.S. diplomat and killed 3 American security guards. In 2004, PRC terrorists murdered pregnant Israeli woman Tali Hatuel and her 4 daughters, 11-year-old Hila, 9-year-old Hadar, 7-year-old Roni, and baby Meirav who was only 2 years old. The PRC has also targeted Palestinians in terror attacks, including the 2005 assassination of Palestinian Security Services chief Moussa Arafat.
Despite multiple State Department reports identifying terror attacks committed by the Popular Resistance Committees, the group has never faced U.S. sanctions. This legislation would finally hold the PRC accountable for its long history of heinous terror attacks by applying long-overdue sanctions on the group.
Specifically, the bipartisan bill:
Designates the PRC as a Specially Designated Global Terrorist (SDGT) organization;
Places financial asset-blocking sanctions on the PRC and its members, preventing them from accessing the U.S. financial system;
Places visa-blocking sanctions on the PRC and its members.

MIL OSI USA News –

March 26, 2025
MIL-OSI: FINNOVATE ACQUISITION CORP. ANNOUNCES POSTPONEMENT OF SHAREHOLDER MEETING TO 10:00 AM EASTERN TIME MARCH 28, 2025

Source: GlobeNewswire (MIL-OSI)

Boston, MA, March 25, 2025 (GLOBE NEWSWIRE) — Finnovate Acquisition Corp. (“Finnovate”) (OTC: “FNVUF”, “FNVTF”, “FNVWF”) announced today that its upcoming extraordinary general meeting of shareholders (the “Special Meeting”) to approve its proposed initial business combination which was initially scheduled for January 30, 2025 and had been postponed to March 27, 2025, will be further postponed to 10:00 a.m., Eastern Time on Friday, March 28, 2025. At the Special Meeting, shareholders of Finnovate will be asked to vote on proposals to approve, among other things, its proposed initial business combination (the “Business Combination”) with Scage International Limited, a Cayman Islands exempted company (“Scage International” or the “Company”), Scage Future, a Cayman Islands exempted company (“Pubco”), Hero 1, a Cayman Islands exempted company and a direct wholly owned subsidiary of Pubco (“Merger Sub I”), and Hero 2, a Cayman Islands exempted company and a direct wholly owned subsidiary of Pubco (“Merger Sub II”) pursuant to a Business Combination Agreement (as amended, the “Business Combination Agreement”). There is no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Special Meeting.

On March 13, 2025, Scage International received approval for listing from the China Securities Regulatory Commission. CSRC approval is one of the conditions for consuming the Business Combination. Now the CSRC approval has been received, Finnovate has decided to postpone the Special Meeting to allow more time for the parties to proceed to satisfy the remaining closing conditions under the Business Combination Agreement, including obtaining approval for the listing of Pubco’s securities on Nasdaq.

As a result of this change, the Special Meeting will now be held at 10:00 a.m., Eastern time, on Friday, March 28, 2025, at the office of Ellenoff Grossman & Schole LLP located at 1345 Avenue of the Americas, New York, New York 10105 and via a live webcast at https://www.cstproxy.com/finnovateacquisition/2025. Also, as a result of this change, the deadline for holders of Finnovate’s Class A ordinary shares issued in its initial public offering to submit their shares for redemption in connection with the Business Combination is being further extended to 5:00 p.m., Eastern time, on Wednesday March 26, 2025.

The proposed resolutions to be considered at the Special Meeting remains the same as that set out in the definitive proxy statement and other relevant documents that was been mailed to shareholders of Finnovate as of the record date of January 6, 2025. SHAREHOLDERS OF FINNOVATE AND OTHER INTERESTED PARTIES ARE URGED TO READ, THE DEFINITIVE PROXY STATEMENT, AND AMENDMENTS THERETO IN CONNECTION WITH FINNOVATE’S SOLICITATION OF PROXIES FOR THE SPECIAL MEETING OF ITS SHAREHOLDERS TO BE HELD TO APPROVE THE BUSINESS COMBINATION, a copy of which can be accessed via the following link: https://www.sec.gov/Archives/edgar/data/1857855/000121390025001247/ea0226944-01.htm.

Finnovate plans to continue to solicit proxies from shareholders during the period prior to the Special Meeting. Only the holders of Finnovate’s ordinary shares as of the close of business on January 6, 2025, the record date for the Special Meeting, are entitled to vote at the Special Meeting.

About Finnovate Acquisition Corp.

Finnovate Acquisition Corp. is a blank check company incorporated in the Cayman Islands with the purpose of acquiring one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.

Forward-Looking Statements

The information in this Press Release includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “may,” “will,” “expect,” “continue,” “should,” “would,” “anticipate,” “believe,” “seek,” “target,” “predict,” “potential,” “seem,” “future,” “outlook” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics and projections of market opportunity and market share; references with respect to the anticipated benefits of the proposed transactions contemplated by the Business Combination Agreement (the “Business Combination”) and the projected future financial performance of Finnovate and the Company’s operating companies following the proposed Business Combination; changes in the market for the Company’s products and services and expansion plans and opportunities; the Company’s ability to successfully execute its expansion plans and business initiatives; ability for the Company to raise funds to support its business; the sources and uses of cash of the proposed Business Combination; the anticipated capitalization and enterprise value of the combined company following the consummation of the proposed Business Combination; the projected technological developments of the Company and its competitors; ability of the Company to control costs associated with operations; the ability to manufacture efficiently at scale; anticipated investments in research and development and the effect of these investments and timing related to commercial product launches; and expectations related to the terms, approvals and timing of the proposed Business Combination. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s and Finnovate’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company and Finnovate. These forward-looking statements are subject to a number of risks and uncertainties, including the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; the inability to recognize the anticipated benefits of the Business Combination; the ability to obtain or maintain the listing of the Pubco’s securities on The Nasdaq Stock Market, following the Business Combination, including having the requisite number of shareholders; costs related to the Business Combination; changes in domestic and foreign business, market, financial, political and legal conditions; risks relating to the uncertainty of certain projected financial information with respect to the Company; the Company’s ability to successfully and timely develop, manufacture, sell and expand its technology and products, including implement its growth strategy; the Company’s ability to adequately manage any supply chain risks, including the purchase of a sufficient supply of critical components incorporated into its product offerings; risks relating to the Company’s operations and business, including information technology and cybersecurity risks, failure to adequately forecast supply and demand, loss of key customers and deterioration in relationships between the Company and its employees; the Company’s ability to successfully collaborate with business partners; demand for the Company’s current and future offerings; risks that orders that have been placed for the Company’s products are cancelled or modified; risks related to increased competition; risks relating to potential disruption in the transportation and shipping infrastructure, including trade policies and export controls; risks that the Company is unable to secure or protect its intellectual property; risks of product liability or regulatory lawsuits relating to the Company products and services; risks that the post-combination company experiences difficulties managing its growth and expanding operations; the uncertain effects of certain geopolitical developments; the inability of the parties to successfully or timely consummate the proposed Business Combination, including the risk that any required shareholder or regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed Business Combination; the outcome of any legal proceedings that may be instituted against the Company, Finnovate, Pubco or others following announcement of the proposed Business Combination and transactions contemplated thereby; the ability of the Company to execute its business model, including market acceptance of its planned products and services and achieving sufficient production volumes at acceptable quality levels and prices; technological improvements by the Company’s peers and competitors; and those risk factors discussed in documents of Pubco and Finnovate filed, or to be filed, with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Finnovate nor the Company presently know or that Finnovate and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Finnovate’s, Pubco’s and the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. Finnovate, Pubco and the Company anticipate that subsequent events and developments will cause Finnovate’s, Pubco’s and the Company’s assessments to change. However, while Finnovate, Pubco and the Company may elect to update these forward-looking statements at some point in the future, Finnovate, Pubco and the Company specifically disclaim any obligation to do so. Readers are referred to the most recent reports filed with the SEC by Finnovate. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information

Pubco and the Company filed with the SEC a Registration Statement on Form F-4, which has been declared effective by SEC (the “Registration Statement”). The Registration Statement includes a definitive proxy statement of Finnovate and a prospectus in connection with the proposed Business Combination involving Finnovate, Pubco, Hero 1, Hero 2 and the Company pursuant to the Business Combination Agreement. The definitive proxy statement and other relevant documents has been mailed to shareholders of Finnovate as of the record date of January 6, 2025. SHAREHOLDERS OF FINNOVATE AND OTHER INTERESTED PARTIES ARE URGED TO READ, THE DEFINITIVE PROXY STATEMENT, AND AMENDMENTS THERETO IN CONNECTION WITH FINNOVATE’S SOLICITATION OF PROXIES FOR THE SPECIAL MEETING OF ITS SHAREHOLDERS TO BE HELD TO APPROVE THE BUSINESS COMBINATION BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT FINNOVATE, THE COMPANY, PUBCO AND THE BUSINESS COMBINATION.

Participants in The Solicitation

Pubco, Finnovate, the Company, and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Finnovate in connection with the Business Combination. Information regarding the officers and directors of Finnovate is set forth in the Registration Statement. Additional information regarding the interests of such potential participants are also included in the Registration Statement and other relevant documents to be filed or has been filed with the SEC.

No Offer Or Solicitation

This Press Release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

INVESTOR RELATIONS CONTACT

Finnovate Acquisition Corp.
Calvin Kung
265 Franklin Street
Suite 1702
Boston, MA 02110
+1 (424) 253-0908

The MIL Network –

March 26, 2025
MIL-OSI Global: Sudan’s civil war: What military advances mean, and where the country could be heading next

Source: The Conversation – Global Perspectives – By Christopher Tounsel, Associate Professor of History, University of Washington

A Sudanese man celebrates as the military enters the central city of Wad Madani, pushing out the Rapid Support Forces in January 2025. AP Photo/Marwan Ali

A series of advances by the Sudanese military has led some observers to posit that the African nation’s yearslong civil war could be at a crucial turning point.

Even if it were to end tomorrow, the bloody conflict would have left the Sudanese people scarred by violence that has killed tens of thousands and displaced millions of people. But the recent victories by the military do not spell the end of its adversary, a rebel paramilitary group that still holds large areas in Sudan.

The Conversation turned to Christopher Tounsel, a historian of modern Sudan at the University of Washington, to explain what the war has cost and where it could turn now.

Can you give a summary of the civil war to date?

On April 15, 2023, fighting broke out in Sudan between the Sudanese Armed Forces, or SAF – led by de facto head of state Gen. Abdel Fattah al-Burhan – and the paramilitary Rapid Support Forces, or RSF, led by Gen. Mohamed Hamdan Dagalo, known colloquially as “Hemedti.” The RSF emerged out of the feared Janjaweed militia that had terrorized the Darfur region of Sudan.

While the SAF and RSF previously worked together to forcibly remove longtime President Omar al-Bashir from power in 2019, they later split amid a power struggle that turned deadly.

The major point of contention was the disputed timeline for RSF integration into the national military, with the RSF preferring a 10-year process to the SAF’s preferred two-year plan.

By early April 2023, the government deployed SAF troops along the streets of the capital, Khartoum, while RSF forces took up locations throughout the country. Matters came to a head when explosions and gunfire rocked Khartoum on April 15 of that year. The two forces have been in conflict ever since.

To human toll of the civil war has been staggering. As of February 2025, estimates of those killed from the conflict and its related causes, including lack of sufficient medical facilities and hunger, have ranged from 20,000 to 150,000 – a wide gulf that, according to Humanitarian Research Lab executive director Nathaniel Raymond, is partially due to the fact that the dead or displaced are still being counted.

The conflict has displaced more than 14 million people, a number that demographically makes the Sudan situation the world’s worst displacement crisis. Nearly half of Sudan’s population is “acutely food insecure,” according to the U.N.’s World Food Programme. Another 638,000 face “catastrophic levels of hunger” – the world’s highest number.

How have recent developments changed the war?

The SAF has recently scored a slew of victories. At time of writing, the Sudanese military controls much of the country’s southeastern border with Ethiopia, the Red Sea coast – and, with it, Sudan’s strategically important Port Sudan – and parts of the country’s metropolitan center located at the confluence of the Blue and White Nile rivers.

Further, the SAF has reclaimed much of the White Nile and Gezira provinces and broken an RSF siege of North Kordofan’s provincial capital of el-Obeid. In perhaps the most important development, the army in late March recaptured the RSF’s last major stronghold in Khartoum, the Presidential Palace.

A fighter loyal to the Sudanese army patrols a market area in Khartoum on March 24, 2025.
AFP via Getty Images

Each of these actions indicates that the SAF is taking an increasingly proactive approach in the war. Such positive momentum could not only serve to reassure the Sudanese populace that the SAF is the country’s strongest force but also signal to foreign powers that it is, and will continue to be, the country’s legitimate authority moving forward.

And yet, there are other indications that the RSF is in no rush to concede defeat. Despite the SAF’s advances, the RSF has strengthened its control over nearly all of Darfur, Sudan’s massive western region that shares a lengthy border with neighboring Chad.

It is here that the RSF has been accused of committing genocide against non-Arab communities, and only the besieged capital of North Darfur, El Fasher, stands in the way of total RSF hegemony in the region. The RSF also controls territory to the south, along Sudan’s borders with the Central African Republic and South Sudan.

The fact that the SAF and RSF are entrenched in their respective regional strongholds casts doubt on the significance of the military’s recent victories.

Could Sudan be heading to partition?

As a historian who spent years writing about South Sudanese separatism, I find it somewhat unfathomable to imagine that Sudan would further splinter into different countries. Given the current state of affairs, however, partition is not outside the realm of possibility. In February, during a summit in Kenya, the RSF and its allies officially commenced plans to create a rival government.

The African Union’s 55 member states are said to be split on the issue of Sudanese partition and the question of whether any entity linked with the RSF should be accepted. In January, during the waning days of U.S. President Joe Biden’s presidency, Washington determined that the RSF and its allies had committed genocide and sanctioned Hemedti, the RSF leader, prohibiting him and his family from traveling to the U.S. and freezing any American assets he may hold.

Any attempt to entertain partition could be read as an acknowledgment of the legitimacy of the RSF and would also create a dangerous precedent for other leaders who have been accused of human rights violations.

In addition to the RSF’s perceived lack of moral legitimacy, there is also the recent precedent of South Sudan’s secession. South Sudan, since seceding from Sudan in 2011, has experienced enormous difficulties. Roughly 2½ years into independence, the nation erupted into a civil war waged largely along ethnic lines. Since the conclusion of that war in 2018, the world’s youngest nation continues to struggle with intergroup violence, food insecurity and sanctions resulting from human rights violations.

Simply put, recent Sudanese history has shown that partition is not a risk-free solution to civil war.

How has shifting geopolitics affected the conflict?

It is important to understand that the conflict’s ripples extend far beyond Sudan’s borders. Similarly, the actions of countries such as the U.S., Russia and China have an impact on the war.

Sudanese people line up to collect a charity ‘iftar’ fast-breaking meal in Omdourman on March 19, 2025.
Ebrahim Hamid/AFP via Getty Images

President Donald Trump’s executive order freezing contributions from the U.S. government’s development organization, USAID, has shuttered approximately 80% of the emergency food kitchens established to help those impacted by the conflict. An estimated 2 million people have been affected by this development.

Russian financial and military contributions have been credited with helping the SAF achieve its gains in recent months. Russia has long desired a Red Sea naval base near Port Sudan, and the expulsion of Russia’s fleet from Syria following the fall of President Bashar Assad increased the importance of such a base.

And then there is China. A major importer of Sudanese crude oil, China engaged in conversations to renegotiate oil cooperation agreements with Sudan in October 2024 with the hopes of increasing oil production amid the war. An end to the war – and, with it, protecting the flow of oil through pipelines vulnerable to attack – would benefit both members of this bilateral relationship.

As the war enters its third year, the outlook remains frustratingly difficult to discern.

Christopher Tounsel has previously received funding from the Council of American Overseas Research Centers.

– ref. Sudan’s civil war: What military advances mean, and where the country could be heading next – https://theconversation.com/sudans-civil-war-what-military-advances-mean-and-where-the-country-could-be-heading-next-253007

MIL OSI – Global Reports –

March 26, 2025
MIL-OSI USA: Sen. Warner Speaks at Senate Intelligence Committee Hearing

US Senate News:

Source: United States Senator for Commonwealth of Virginia Mark R Warner

BROADCAST-QUALITY VIDEO OF SEN. WARNER’S OPENING REMARKS IS AVAILABLE HERE

WASHINGTON – Today, Vice Chairman of the Senate Select Committee on Intelligence Sen. Mark R. Warner (D-VA) delivered opening remarks at the Intelligence Committee’s annual Worldwide Threats Assessment hearing.

Sen. Warner’s opening remarks as delivered are below:

Well, thank you, Mr. Chairman, and good morning, everybody, and I want to thank all the witnesses for being here.

I got to say, I’ve been on the committee now for 14 years, and this year’s assessment is clearly one of the most complicated and challenging in my tenure on the committee.

And I want to get into that in a moment, but I want to, first of all, address the recent story that broke in the news.

Yesterday, we stunningly learned that senior members of this administration and according to reports, two of our witnesses here today, were members of a group chat that discussed highly sensitive and likely classified information that supposedly even included ‘weapons packages, targets and timing,’ and included the name of an active CIA agent.

Putting aside for a moment that classified information should never be discussed over an unclassified system, it’s also just mind boggling to me that all these senior folks were on this line and nobody bothered to even check, security hygiene 101…

Who are all the names? Who are they?

Well, it apparently includes a journalist.

And no matter how much the Secretary of Defense or others want to disparage him, this journalist had at least the ethics to not report everything he heard.

The question I raise is: everybody on this committee gets briefed on security protocols. They’re told you don’t make calls outside of SCIFs of this kind of classified nature.

Director Gabbard is the executive in charge of all keeping our secrets safe. Were these government devices? Or were they personal devices? Have the devices been collected to make sure there’s no malware?

There’s plenty of declassified information that shows that our adversaries, China and Russia, are trying to break in to encrypted systems like Signal.

I can just say this. If this was the case of a military officer, or an intelligence officer, and they had this kind of behavior, they would be fired. I think this is one more example of the kind of sloppy, careless, incompetent behavior, particularly towards classified information, that this is not a one off or a first time error.

Let me take a couple of minutes and review some of the other reckless choices that this administration has made regarding our national security. We all recall it seems like it wasn’t that long ago, but less than two months ago, in the first two weeks, the administration canceled all U.S. foreign assistance.

Now, some may say, how can that how bad can that be, its foreign assistance?

Well, U.S. foreign assistance paid for the units in Ukraine to provide air defense to civilian cities being attacked by Russia.

Foreign assistance paid for guarding camps in Syria, where ISIS fighters are to be detained.

Foreign assistance paid for programs abroad that ensure that diseases like Ebola don’t come home.

And until recently, it paid for the construction of a railway in Africa that would have help given the United States much needed access to critical minerals in Congo.

Now that project… China is going to try to finance it as well.

In the first two weeks, the administration fired several of our most experienced FBI agents, including the head of the criminal Investigative submission, the head of the intelligence division, the head of the Counterterrorism division, the heads of the New York, Washington and Miami field office, all individuals who were distinctly and directly responsible for helping to keep America safe.

The irony a little bit, was the recently dismissed head of the counterterrorism division was involved in disrupting the ISIS attacks planned for Oklahoma City and Philadelphia and helped lead the effort to bring to justice the key planner of the Abbey Gate bombing in Afghanistan, who killed 13 U.S. servicemen and 150 civilians.

That very Abbey Gate effort was actually praised by the president in his state of the Union address.

The administration’s response to these agents’ good works and years of service was to force these folks out.

It’s hard to imagine how that makes our country safer.

Nor can I understand how Americans are made more secure by firing more than 300 staff at the National Nuclear Security Administration, including those responsible for overseeing the security and safety of the nuclear stockpile, or by ousting 130 employees at CSA.

The agency directly responsible for trying to take on China’s salt typhoon attack again. After Salt Typhoon, I would have thought folks on that group chat might have thought twice.

Or how are we made safer by sacking a thousand employees at the CDC and NIH. We’re actually directly working on trying to keep our country safe from disease by pushing out hundreds of intelligence officers.

The amazing thing is our intelligence officers, they’re not interchangeable like a Twitter coder. Our country makes $20,000 to $40,000 of an investment just in getting a security clearance.

It literally goes into six figures when you take the training involved. Can anyone tell how firing probationary individuals without any consideration for merit or expertise is an efficient use of taxpayer dollars?

And just to make clear that yesterday’s story in the Atlantic was not this rookie one-off, it’s a pattern.

I want to acknowledge Director Ratcliffe was not here in his position with this took place.

But again, earlier in the administration, when a new unclassified network was used, thereby exposing literally hundreds of CIA officers’ identities.

Those folks can’t go into the field now.

How does that make our government more efficient?

You know, again, this pattern of an amazing, cavalier attitude towards classified information is reckless and sloppy.

And perhaps what troubles me most is the way the administration has decided that we can take on all of our problems by ourselves without any need for friends or allies.

I agree that we’ve got to put America’s priorities first, but American first cannot mean America alone.

The intelligence we gather to keep Americans safe depends on a lot of allies around the world who have access to sources that we don’t have.

That’s sharing of information saves lives. And it’s not hypothetical.

We all remember (because it was declassified) last year when Austria worked with our community to make sure to expose a plot against Taylor Swift in Vienna that could have killed literally hundreds of individuals.

However, these relationships are not built in stone. They’re not dictated by law. Things like the Five Eyes are based on trust built on decades, but so often that trust is now breaking literally overnight.

Yet suddenly, for no reason that I can understand, the United States is starting to act like our adversaries are our friends. Voting in the UN with Russia, Belarus and North Korea. It’s a rogues gallery if ever heard one.

Treating our allies like adversaries, whether it’s threats to take over Greenland or over the Panama Canal, a destructive trade war with Canada, or literally threatening to kick Canada out of the Five Eyes, I feel our credibility is being enormously undermined with our allies, who I believe, and I think most of us on this committee, regardless of party believes, makes our country safer and stronger.

But how can our allies ever trust us as the kind of partner we used to be when we, without consultation or notice, for example, stop sharing information to Ukraine in its war for survival against Russia. Or how can our allies not only not trust our government, but potentially not our businesses with such arbitrary political decision?

Let me give you a few examples. You know, as a result of a lot of work from this committee and others in Congress, we made sure America’s commercial space industry is second to none from space to launch to commercial sensing and communications.

The United States has taken a lead. Yet overnight, this administration called into question the reliability of American commercial tech industry.

When maps are and other commercial space companies were directed to stop sharing intelligence with Ukraine.

I’m going to tell you… I’m a business guy. Can’t say longer than being an elected official, but pretty close. That shockwave across all of commercial space and frankly, not just commercial space. I’ve heard it from some of our hyperscalers, in the tech community, has sent an enormous chill.

Who’s going to hire an American commercial space company, government or foreign business with the ability to have that taken down so arbitrarily?

It’s not just in the case of commercial space.

We’ve seen that Canada, Germany, Portugal have all been saying they’re rethinking buying F-35s.

I’ve heard from Microsoft and Google directly, and Amazon that they’re having questions about whether they can still sell their services.

We’ve also seen foreign adversaries and friends take advantage of this RIF in our national security areas, and our scientists.

Germany has already put out ads trying to attract some of our best scientists who’ve been RIFed and the Chinese intelligence agencies are posting on social media sites in the hopes of luring individuals with that national security clearance who’ve been pushed out, perhaps arbitrarily, to come into their service.

So, no, the signal fiasco is not a one off. It is, unfortunately, a pattern we’re seeing too often repeated.

I fear that we feel the erosion of trust from our workplace, from our companies, and from our allies and partners can’t be put back in the bottle overnight. Make no mistake, these actions make America less safe.

Thank you, Mr. Chairman.

MIL OSI USA News –

March 26, 2025
MIL-OSI Global: Modern spacesuits have a compatability problem. Astronauts’ lives depend on fixing it

Source: The Conversation – UK – By Berna Akcali Gur, Lecturer in Outer Space Law, Queen Mary University of London

Suni Williams and Butch Wilmore, the Nasa astronauts who were stuck on the International Space Station (ISS) for nine months, have finally returned to Earth.

Spacesuits were an important consideration that Nasa had to factor into its plans to bring the astronauts back home. Wilmore and Williams had travelled to the ISS in Boeing’s experimental Starliner spacecraft, so they arrived wearing Boeing “Blue” spacesuits.

Following helium leaks and thruster (engine) issues with Starliner, Nasa decided it was safer not to send them back to Earth on that vehicle. The astronauts had to wait to return on one of the other spacecraft that ferry crew members to the ISS, the SpaceX Crew Dragon.

This meant they needed a different type of spacesuit, made by SpaceX for use in its vehicle only. Boeing’s suits cannot be used in Crew Dragon in part because the umbilicals (the flexible “pipes” that supply air and cooling to the suit) have connections and standards that don’t work with the ports inside a Crew Dragon.

This highlights a general problem for the growing number of space agencies and companies sending people into orbit, and for planned missions to the Moon and beyond. Ensuring that different spacesuits are compatible, or “interoperable”, with spacecraft they weren’t designed to be used in is vital if we are to protect astronauts’ lives during an emergency in space, especially in joint missions.

The spacesuits worn during a return from space are called “launch, entry and abort” (LEA) suits. These are airtight and provide life support to the astronauts in case there is a decompression, when air is lost from the cabin.

Unfortunately, a decompression has already caused loss of life in space. During the Soyuz 11 mission in 1971, three Soviet cosmonauts visited the world’s first space station, Salyut 1. But during preparations for re-entry, the crew cabin lost its air, killing cosmonauts Georgy Dobrovolsky, Vladislav Volkov and Viktor Patsayev, who were not wearing LEA suits. All cosmonauts wore them after this incident.

As well as the connections for life support, the Boeing and SpaceX suits also have restraints and connections for communications that are specific to each vehicle. For their return home from the ISS in a SpaceX capsule, Williams was able into use a spare SpaceX suit that was already aboard the space station and the company sent up an additional suit on a cargo delivery for Wilmore to wear.

Two spacecraft are usually docked at the ISS as “lifeboats” to evacuate the astronauts in the event of an emergency. These are generally a SpaceX Crew Dragon and a Russian Soyuz capsule.

If an emergency evacuation were to occur and there weren’t enough of the right spacesuits available – for either the Crew Dragon or Soyuz – it could endanger astronauts during the fiery re-entry through Earth’s atmosphere. Interoperability between spacesuits has therefore become a matter of survival.

The Outer Space Treaty, which provides the basic framework for international space law, recognises astronauts as “envoys of humankind” and grants them specific legal protections. These were expanded on in subsequent UN treaties – notably the Rescue Agreement, which imposes a range of duties on states to render assistance to each others’ astronauts in cases of emergency, accident or distress.

For the ISS, a collaborative space programme with international flight crews, protocols include terms that set forth how this obligation is to be met. However, these protocols do not contain terms relating to spacesuit interoperability.

Risks to astronauts in space

A major potential cause of an emergency evacuation is space debris. The ISS has regularly had to manoeuvre to avoid collisions with debris – including entire defunct satellites.

In his memoir, Endurance, Nasa astronaut Scott Kelly describes being commanded to enter the Soyuz vehicle with two other crew members and prepare to detach from the ISS because of a close approach by a large defunct satellite. Luckily, the spacecraft passed by harmlessly.

As orbits become increasingly congested, with an exponential increase in the number of space objects being launched, the risk of collisions will also increase.

Ever more companies and governments are entering the human spaceflight arena. The Tiangong space station, China’s orbiting laboratory, has been fully operational since 2022, and there are plans to open it to space tourism, just like the ISS.

India is planning to join the community of nations with the capability to launch humans into space, under a programme called Gaganyaan. And while most space travellers remain government-funded astronauts, the number of private space-farers is increasing.

Billionaire Jared Isaacman (who is President Trump’s nominee to run Nasa) has commanded two private missions into orbit using Crew Dragon. On the second of these, he participated in the first spacewalk by privately funded astronauts. The ISS is set to be retired in 2030 – but one company, Houston-based Axiom Space, is already building a private space station.

Against this complex and part-unregulated backdrop, ensuring the interoperability of different spacecraft systems, including spacesuits, will increase levels of safety in this inherently risky activity.

While the safety and practicality of spacesuits has always been the top priority, compatibility between different suits and vehicles should also be high on the list. This requires space agencies and private spaceflight companies to engage with each other in a process to agree on standard interfaces and connections for life support and communications, across all their suits and space vehicles.

Amid this period of increased commercialisation and competition between the organisations and companies involved in orbital spaceflight, a move toward greater collaboration can only be a good thing.

Berna Akcali Gur does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Modern spacesuits have a compatability problem. Astronauts’ lives depend on fixing it – https://theconversation.com/modern-spacesuits-have-a-compatability-problem-astronauts-lives-depend-on-fixing-it-252935

MIL OSI – Global Reports –

March 26, 2025
MIL-OSI USA: King, Colleagues Urge Administration to Maintain Focus on Election Security

US Senate News:

Source: United States Senator for Maine Angus King

WASHINGTON, D.C. — U.S. Senator Angus King (I-ME), a member of the Senate Select Committee on Intelligence (SSCI), is joining a number of his colleagues to push for the continuation of the Department of Justice’s (DOJ) Election Threats Task Force. In a letter to U.S. Attorney General Pam Bondi, the senators stressed the importance of the Task Force, which is charged with identifying efforts to protect election officials amid the rising threats and acts of violence.

“Given the recent disturbing personnel and policy decisions at the Department and the lack of transparency about the future of the Task Force, we request an immediate update on the status and activities of the Task Force, as well as what resources will be provided to ensure its important work continues so that election officials of both parties can safely administer our elections,” wrote the Senators.

“Recent surveys have found that one in three election officials reported facing threats, harassment, and abuse. Similarly, 48 percent of local election officials know of someone who has left their job because of fear for their safety—a troubling loss of institutional knowledge needed for the smooth running of elections. Election workers continue to fear for their safety, so it is critical that the work of the Task Force continues to deter and counter these threats. In this challenging environment for election officials, it is essential to our democracy that they can continue to rely on the Department to uphold the law,” continued the Senators.

The senators’ letter comes as the Trump Administration has significantly rolled back the federal government’s capacity to fight against foreign and domestic election security threats. On Attorney General Bondi’s first day in office, she disbanded the Federal Bureau of Investigation’s (FBI) Foreign Influence Task Force, hindering efforts to address secret influence campaigns waged by China, Russia and other foreign adversaries. Additionally, the Administration has fired or put on leave dozens of officials responsible for combating foreign election interference at the Cybersecurity and Infrastructure Security Agency (CISA) and has reportedly frozen all of CISA’s ongoing election security work. The Administration has also defunded CISA’s nationwide program to train local officials and monitor threats through the Elections Infrastructure Information Sharing and Analysis Center.

In addition to King, the letter was also signed by Senators Angela Alsobrooks (D-MD), Michael Bennet (D-CO), Richard Blumenthal (D-CT), Lisa Blunt Rochester (D-DE), Cory Booker (D-NJ), Maria Cantwell (D-WA), Chris Coons (D-DE), Dick Durbin (D-IL), Ruben Gallego (D-AZ), Mazie Hirono (D-HI), Mark Kelly (D-AZ.), Andy Kim (D-NJ), Amy Klobuchar (D-MN), Ben Ray Luján (D-NM), Edward J. Markey (D-MA), Jeff Merkley (D-OR), Jon Ossoff (D-GA), Alex Padilla (D-CA), Bernie Sanders (I-VT), Brian Schatz (D-HI), Adam Schiff (D-CA), Chuck Schumer (D-NY), Jeanne Shaheen (D-NH), Chris Van Hollen (D-MD), Mark Warner (D-VA), Raphael Warnock (D-GA), Elizabeth Warren (D-MA), Peter Welch (D-VT), Sheldon Whitehouse (D-RI) and Ron Wyden (D-OR).

In addition to serving on the Intelligence Committee, King is the Co-Chair of the Cyberspace Solarium Commission (CSC). He is recognized as one of Congress’ leading experts on cyber defense and as a strong advocate for a forward-thinking cyber strategy that emphasizes layered cyber deterrence. Previously, King has cosponsored legislation to shield American elections from threats by improving election cybersecurity and combatting foreign interference in U.S. democracy. He also urged the Biden Administration ahead of the 2022 midterm elections to fund selection security efforts by allocating federal funds to modernize voting equipment and strengthen cybersecurity for election systems.

Full text of the letter is available here and below.

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Dear Attorney General Bondi:

We write to strongly urge you to continue the critical law enforcement work of the Department of Justice’s Election Threats Task Force, which protects election officials from ongoing threats and acts of violence. Given the recent disturbing personnel and policy decisions at the Department and the lack of transparency about the future of the Task Force, we request an immediate update on the status and activities of the Task Force, as well as what resources will be provided to ensure its important work continues so that election officials of both parties can safely administer our elections.

The Task Force was established in the wake of the 2020 election cycle when election officials across the political spectrum began facing unprecedented threats of violence intended to thwart the peaceful transfer of power that is the hallmark of our democracy. In close collaboration with state and local law enforcement, the Task Force has assessed thousands of complaints of suspected threats of violence and investigated and prosecuted violent offenders. Over the years, these threats have not only continued but escalated. The Task Force has investigated fentanyl-laced letters, bomb threats, and swatting incidents—serving as a legacy of the 2020 election and impacting the ways election officials interact with voters in their communities.

Recent surveys have found that one in three election officials reported facing threats, harassment, and abuse. Similarly, 48 percent of local election officials know of someone who has left their job because of fear for their safety—a troubling loss of institutional knowledge needed for the smooth running of elections. Election workers continue to fear for their safety, so it is critical that the work of the Task Force continues to deter and counter these threats. In this challenging environment for election officials, it is essential to our democracy that they can continue to rely on the Department to uphold the law.

Moreover, the federal government’s ability to fight election interference has been greatly hampered in the early weeks of this Administration. Dozens of officials at the Cybersecurity and Infrastructure Security Agency (CISA), who are responsible for combatting foreign election interference, have been fired or put on leave. CISA has also reportedly frozen all of its ongoing election security work, including defunding its nationwide program to train local officials and monitor threats through the “Elections Infrastructure Information Sharing and Analysis Center.” Additionally, on your first day in office, you signed a directive disbanding the FBI’s Foreign Influence Task Force, which was aimed at responding to secret influence campaigns waged by China, Russia, and other foreign adversaries.

We request a response on the status and future plans of the Election Threats Task Force, the extent of resources and personnel dedicated to its work, and how it plans to incorporate related work previously led by CISA and the Foreign Influence Task Force by March 31, 2025.

MIL OSI USA News –

March 26, 2025
MIL-OSI Africa: Motsoaledi to open second G20 Health Working Group meeting in KZN

Source: South Africa News Agency

Health Minister Dr Aaron Motsoaledi will deliver the keynote address at the opening of the second meeting of the Group of Twenty (G20) Health Working Group on Wednesday.

The meeting will take place at the Capital Zimbali Resort in Ballito, KwaZulu-Natal, and will last for three days.

The theme of the meeting will be “Accelerating Health Equity, Solidarity, and Universal Coverage”.

Motsoaledi will be joined by Deputy Health Minister Dr Joe Phaahla, KwaZulu-Natal Premier Thami Ntuli, and KwaZulu-Natal Health MEC Nomagugu Simelane.

The event will also include several side events that provide a platform for delegates to engage in bilateral and multilateral discussions on various critical issues, including strengthening health systems and promoting equitable access to health services.

Key issues for discussion during the meeting and side events include financial protection for universal health coverage (UHC) and maintaining health financing amid a challenging global economy.

The meeting will also zoom into strengthening investments and advancing UHC, bridging the equity gap to accelerate action to address the burden of non-communicable diseases, and responding to the global health financing emergency.

The Department of Health has announced that a co-sponsored event focused on the elimination of cervical cancer will take place alongside this meeting.

Delegates from G20 countries, invited nations, representatives, and international organisations will be in attendance.

South Africa holds the G20 Presidency from 1 December 2024 to 30 November 2025, only five years before the deadline of the United Nations (UN) 2030 Agenda. South Africa has embraced the theme “Solidarity, Equality, Sustainability” for its G20 Presidency.

The G20 comprises 19 countries including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and the United States and two regional bodies, namely the European Union (EU) and the African Union (AU).

The first virtual G20 Health Working Group meeting was held in January as part of the country’s G20 Presidency activities planned for this year. – SAnews.gov.za

MIL OSI Africa –

March 26, 2025
MIL-OSI USA: Bolstering Accessibility Technology Resources
Source: US State of New York

overnor Kathy Hochul today announced more than $2.1 million in awards to 43 faith-based and not-for-profit organizations through the New York State Office of Faith and Nonprofit Development Services to improve public access to essential technologies. The funds are available to community organizations that will work directly with New Yorkers to help remove barriers for people who need technology resources, including telehealth appointments, career advancement services, remote educational opportunities, social services applications or other computer access needs.

“Technology is rapidly advancing, and we need to make sure that everyone has a fair chance at taking advantage of its resources,” Governor Hochul said. “From doctors appointments to opportunities in education and professional development, we are making these resources easily accessible for all New Yorkers.”

Secretary of State Walter T. Mosley said, “The Office of Faith and Nonprofit Development is making good on Governor Hochul’s commitment to ensuring community-based organizations have access to critical state resources in order to serve the people of our great state. These grants to organizations across New York will help remove barriers for those in need to use technology resources to get telehealth, education, career advancement and any other support to better their lives.”

Director of the Office of Faith and Nonprofit Development Services Caura Washington said, In 2023, Governor Kathy Hochul reimagined the Office of Faith and Nonprofit Development Services Office commissioning this office to go on a 62-county tour. Our dedication to listen, understand, and respond to the needs often highlighted during that tour, in every region across our state, led to the development of this funding opportunity. Through the New York State request for application process, this opportunity was offered statewide, ensuring that funding was awarded with transparency and equal opportunity so that innovation and impact would take precedence. We are excited to continue to provide support across our state and meet the needs of everyday New Yorkers.”

President of New York State Interfaith Council A.R. Bernard said, “I applaud Governor Hochul for her visionary leadership and commitment to strengthening New York’s communities through the announcement of more than $2.1 million in awards to 43 faith-based and nonprofit organizations. This initiative reflects a deep understanding that communities thrive when faith-based and nonprofit partners are empowered to serve. I stand in full support of this effort and celebrate Governor Hochul’s continued promise to help these organizations fulfill their potential as pillars of hope, access, and opportunity for all.”

The grants of up to $50,000 will allow these organizations to further break down barriers for people in need of technology services by offering:
- Technology access for communities across NYS.
- Helping bridge gaps in technology for vulnerable populations.
- Enhancing public programs with technology infrastructure investments.
- Creating opportunities for public access to computers and the internet for education, job advancement, telehealth and more.
The goal of these grants is to work together with faith-based and non-profit organizations to enhance the ability to meet the community’s needs, including serving distinctly different populations and/or geographic locations and technology demands. The regions to receive the grants are:

Capital Region
- Capital District Center for Independence (CDCI) $48,893
- Higher Horizons Development Corp (HHDC) $49,433
Central New York
- Syracuse Northeast Community Center (SNCC) $49,999
Finger Lakes
- Episcopal SeniorLife Communities (ESLC) $50,000
- Literacy West, NY (LWNY) $49,821
Mid-Hudson
- CHOICE of New Rochelle (CHOICE of NY) $50,000
- Echoes Africa Initiatives $50,000
- NYSARC The ARC Mid-Hudson / Cornell Creative Arts Center $50,000
- Parcare Community Health Network $50,000
- Rockland Independent Living Center (BRIDGES) $50,000
- United Hebrew of New Rochelle $42,431
- Upon this Rock Ministries, Inc $50,000
- Westchester Jewish Community Services, Inc. (WJCS) $50,000
Mohawk Valley
- Muslim Community Association of Mohawk Valley (MCAMV) $50,000
- Rescue Mission of Utica (RMU) $49,905
New York City Bronx
- Bridge Builders Community Partnership (BBCP) $50,000
- Kingsbridge Heights Community Center (KHCC) $50,000
- Practice of Peace Foundation, Inc. $50,000
New York City Brooklyn
- CAMBA $50,000
- Kings Bay Y (KBY) $50,000
- Metropolitan New York Coordinating Council on Jewish Poverty (Met Council) $41,253
- University Settlement Society of New York (USS) $50,000
New York City New York
- Chinatown Manpower Project, Inc. (CMP) $50,000
- Girls Write Now (GWN) $50,000
- Muslim Community Network (MCN) $50,000
New York City Queens
- Center for the Integration & Advancement of New Americans (CIANA) $25,000
- Jewish Community Council of the Rockaway Peninsula (JCCRP) $50,000
- Korean American Family Services Center (KAFSC) $50,000
- Korean Community Services of Metro (KCS) $50,000
- Rise Now, Inc $50,000
- Rockaway Development & Revitalization Corporation (RDRC) $49,967
Southern Tier
- The Economic Opportunity Program, Inc. (EOP) $48,600
- AIM Independent Living Center (AIM) $50,000
Western New York
- Ardent Solutions, Inc. $50,000
- Buffalo Federation of Neighborhood Centers, Inc. (BFNC) $50,000
- ChildCare Network of the Niagara Frontier, Inc. (The LINK) $50,000
- Computers for Children, Inc. (AKA Mission: Ignite) $50,000
- Gerard Place $49,793
- Jewish Family Services of Western NY (JFS) $50,000
- Literacy West NY, Inc. (LWNY) $49,533
- The Chapel $ 36,715
Contracting organizations will start the development of the Community Resource Rooms to be available in the next few months, expanding technology accessibility for New Yorkers.

About the Office of Faith and Nonprofit Development Services

Since its creation in November of 2023, the New York State Office of Faith & Nonprofit Development Services has stood as a beacon of support and resources for faith-based and not-for-profit organizations across the State. At its core, the Office seeks to empower faith-based and not-for-profit organizations by providing essential information, facilitating access to state grants, and enhancing organizational capacities. More information is available on the Office of Faith & Nonprofit Development Services website.

MIL OSI USA News –
March 26, 2025
MIL-OSI USA: Fact Sheet: President Donald J. Trump Imposes Tariffs on Countries Importing Venezuelan Oil

US Senate News:

Source: The White House
PROTECTING UNITED STATES NATIONAL SECURITY: Yesterday, President Donald J. Trump signed an Executive Order imposing tariffs on countries that import Venezuelan oil.
President Trump is levying a 25% tariff on all goods from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties.
The tariffs will lapse one year after a country ceases importing Venezuelan oil—or sooner if officials deem it appropriate.
If tariffs are imposed on China, they will also apply to Hong Kong and Macau to prevent transshipment and evasion.
These tariffs aim to sever the financial lifelines of Nicolás Maduro’s corrupt regime and curb its destabilizing influence across the Western Hemisphere.
This action targets transnational criminal threats, such as the Tren de Aragua gang, and addresses the humanitarian crises fueled by Venezuela’s actions.
ADDRESSING AN EMERGENCY SITUATION: The Maduro regime poses an unusual and extraordinary threat to the national security and foreign policy of the United States.
The Maduro regime systemically undermines democratic institutions by suppressing free and fair elections and consolidating power illegitimately.
Venezuela’s endemic corruption and mismanagement under Maduro have crushed its people and triggered a regional humanitarian and public health crisis.
Millions of Venezuelans have fled Maduro’s oppressive rule, imposing significant burdens on neighboring countries and destabilizing the Western Hemisphere.
The Maduro regime has aided and facilitated the infiltration of the Tren de Aragua gang—a designated Foreign Terrorist Organization—into the United States by failing to secure its borders, allowing the gang to flourish within Venezuela, and refusing to take action against its members.
These dangerous criminals exploited the previous administration’s open-border policies, establishing a foothold in U.S. communities and preying on American citizens through violent acts, including kidnapping, assault, and murder.

USING OUR LEVERAGE TO SAFEGUARD OUR INTERESTS: President Trump is using America’s economic might to safeguard our interests and punish those who support Maduro’s regime.
Tariffs are a powerful, proven source of leverage for protecting the national interest.
President Trump is sending a clear message that access to our economy is a privilege, not a right, and countries importing Venezuelan oil will face consequences.
As President Trump said in the Presidential Memorandum on American First Trade Policy, trade policy is a critical component in national security.
President Trump has successfully used tariffs in the past to advance America’s interests and address urgent national security threats and is doing so again today.

MIL OSI USA News –

March 26, 2025
MIL-OSI United Kingdom: expert reaction to study on first pig-to-human liver transplantation
Source: United Kingdom – Executive Government & Departments

March 25, 2025

A study published in Nature looks at a genetically modified pig-to-human liver transplantation.

Rafael Matesanz, Creator and Founder of the National Transplant Organisation (Spain), said:

“A frequent approach in the development of xenotransplants of different organs, before moving on to the clinical phase, is to perform them in patients in brain death but with haemodynamic stability, so that the evolution of the organ and the impact on the deceased person’s organism can be assessed at least in the short term, but with circulation maintained.

“At least three kidney transplants have been performed in the United States since 2021 – one with up to 61 days of follow-up in brain-dead patients – and two heart transplants, which served to accumulate a number of useful lessons. In both modalities, they preceded the first clinical experiences in living people, which so far have resulted in two heart transplants (both deceased) and four kidney transplants, two of which have survived after several months of evolution.

“The team at the Xi’an Military Hospital in China has had extensive experience in experimental transplantation of all types of organs from pigs to monkeys for more than a decade. This is the world’s first case of a transplant of a genetically modified pig liver into a brain-dead human. The ultimate goal of the experiment was not to achieve a standard liver transplant, but to serve as a ‘bridge organ’ in cases of acute liver failure, while awaiting a human organ for a definitive transplant. The experience lasted 10 days and the porcine organ remained in good condition, with acceptable basic metabolic function and no signs of acute rejection, indicating that the procedure was successful for its intended purpose and could be used in vivo in the near future.

“In short, this is an important experiment, which opens up a different path to what has been tried so far in both vital organs (heart) and non-vital organs (kidney), such as the temporary replacement of the diseased liver until a human liver can be obtained for the definitive transplant’.”

Iván Fernández Vega, Professor of Pathological Anatomy at the University of Oviedo (Spain), Scientific Director of the Principality of Asturias Biobank (BioPA) and Coordinator of the Organoid hub of the ISCIII Biomodels and Biobanks Platform, said:

“I found the work very relevant, but we have to be cautious. The study represents a milestone in the history of liver xenotransplantation, describing for the first time a transplantation of a genetically modified porcine liver into a human being (in this case, a brain-dead human).The quality of the work is very high, both in terms of scientific rigour and the exhaustive clinical, immunological, histological and haemodynamic characterisation of the procedure. Sophisticated genetic modifications have been applied to the graft to prevent hyperacute rejection, one of the most critical complications in preclinical models of xenotransplantation.

“The clinical implications are highly relevant, as optimising this approach could expand the pool of available organs and save lives in liver emergencies. This work complements and extends the existing evidence on previous pig-to-human heart and kidney xenotransplantation. It provides several relevant novelties:
- It is the first study to demonstrate that a genetically modified porcine liver can survive and exert basic metabolic functions (albumin and bile production) in the human body.
- It shows that there was no major coagulation dysfunction, in contrast to what was observed in other models, such as the first human cardiac xenotransplantation, where microthrombi and severe disorders were detected.
- He points out the need to assess possible myocardial damage in early postoperative phases, given the early elevation of AST and cardiac enzymes, which can be confused with liver damage.
- The use of xenograft as a bridging therapy is proposed, especially in patients with acute liver failure awaiting a human graft, although not as a definitive solution, as bile and albumin production was limited for long-term support.
“However, the study has relevant limitations:
- A major limitation of the study is that it is a single case (n=1), which precludes drawing generalisable conclusions or establishing robust patterns of clinical and immunological response. Although this is a pioneering advance, studies with a larger sample and in living recipients will be necessary to confirm the safety, efficacy and reproducibility of the procedure.
- Limited duration of follow-up (10 days), by decision of the recipient’s family, which prevents assessment of medium- and long-term viability of the graft. Therefore, it does not add information in relation to acute and chronic rejection of xenotransplantation.
- Only basic liver functions (albumin synthesis and bile secretion) were assessed, with no data on other complex liver functions such as drug metabolism, detoxification or immune function.
- The heterotopic helper transplantation procedure would not allow resection of the original liver, which invalidates it as a strategy for example in patients with hepatocarcinoma awaiting transplantation.”
‘Gene-modified pig-to-human liver xenotransplantation’ by Wang et al. was published in Nature at 16:00 UK time on Wednesday 26th March.

DOI: 10.1038/s41586-025-08799-1

Declared interests

Iván Fernández Vega “He declares that he has no conflicts of interest.”

For all other experts, no reply to our request for DOIs was received.
MIL OSI United Kingdom –
March 26, 2025
MIL-OSI Economics: Olli Rehn: Eurozone outlook and European Central Bank monetary policy

Source: Bank for International Settlements

Presentation accompanying the speech

Let me first thank MNI for inviting me to speak at this conference. To kick off, I will briefly discussthe economic outlook in the eurozone and the current lines of thought in the ECB’s monetary policy.

In presenting my remarks here, I will focus particularly on how the significant shifts in world politics of recent weeks will, in my view, affect the euro area economy and the European Central Bank’s monetary policy.

Slide 2: Geopolitics dominates economic outlook

Geopolitics currently dominates and weighs on the outlook for the global economy, and does so with exceptional force.

Russia’s illegal, brutal war of aggression in Ukraine has been going on for more than three years. It has shaken the European security order, and more recent events since the Munich Security Conference a month ago have marked a major disruption in the world order – in a way that is dangerous for Europe. This has forced the European Union to seek to strengthen its common defences.

It is clear that the United States is undergoing a fundamental change of direction both in its foreign and security policy and in its domestic political development. This is not necessarily just a temporary phenomenon, but may be a more permanent turn in US politics. And US foreign policy is now operating under a very different kind of rationality than it used to.

“America first” trade policy in the US is profoundly protectionist but highly unpredictable. There will be no winners in a trade war. Tariffs and the related uncertainty will hit investment and slow down growth everywhere. The latest indicators on the US economy point to weaker than expected growth, which would also affect growth prospects in Europe.

As a result of the turmoil in world politics in recent weeks, Europe has woken up to the necessity of strengthening common defence. The situation is acute, and many EU countries, led by Germany, have announced significant decisions to increase defence spending. Europe is now taking action and responding to the challenge of forming and financing a common, strong defence.

These defence investments will have to be made in a situation where the public deficits of EU Member States are already large. However, the investments required for defence are of such a magnitude that they cannot be financed simply by increasing taxation or cutting other public sector expenditure. It is therefore, in my view, justified, in the short term, to utilize the flexibility elements included in the EU’s new fiscal rules, provided that longer-term debt sustainability is not compromised.

This is why we also need common European financing solutions, implemented in a way that strengthens our common security and accelerates joint procurement and production – I am thinking of air defence and drone production, for example.

Slide 3: Bank of Finland’s scenario calculation: A trade war would weaken growth worldwide

Recent statements from the United States about imposing import tariffs have raised the threat of a trade war in the global economy. An analysis published a week ago by the Bank of Finland illustrates the significant risks that a trade war would pose to economic growth.

The study assumes that the United States would impose a 25% tariff increase on all imports from the euro area and a 20% increase on all imports from China. It also assumes that the euro area and China would impose equivalent tariffs on the United States. Moreover, the calculations take into account the potential economic effects of increased uncertainty affecting economic policy.

The scenario demonstrates that there are no winners in a trade war. As a result, world GDP would decline by more than 0.5% per year. The effects on the euro area and China would be even greater. A key aspect of a trade war is the rise in uncertainty, which we are already witnessing and which could lead to a reduced willingness to investment among businesses.

Efforts should, in any case, be made to prevent the threat of a trade war through a fair negotiated solution to mitigate the negative effects on growth. To support a negotiated solution, Europe should be prepared to respond to the imposition of tariffs with potential countermeasures.

It must also be said that when a brutal war is being fought on European soil, a trade war is the last thing we need right now – especially among allies.

Slide 4: Growth in the euro area economy picking up gradually

US tariffs and increased uncertainty are already having adverse effects on economic growth outlook in the euro area in the immediate and near term.

Europe’s response to the deterioration of the security situation will have its own effects on European economies, which are very difficult to quantify at this stage.

The growth outlook for the euro area remains subdued. According to the ECB’s March forecast, growth in the euro area is gradually picking up, but at a slower pace than expected, and growth risks are on the downside.

In addition to cyclical factors, the euro area economy is also experiencing structural problems. In the ECB’s new forecast, productivity growth is slower than before. The weakness appears to be more structural than previously. But it would be wrong to say that it is entirely structural.

One – if not the only – reason for Europe’s slow productivity growth is precisely the weak development of investment in recent years. The background is a great deal of uncertainty fuelled by geopolitics, but there were also tight financial conditions for a long time.

Let me reveal that I don’t belong to those who makes a crystal-clear distinction between structural and cyclical factors – it would be against my macroeconomic training. Rather, I see the distinction as a line drawn in water. Here, I feel like applying a giant of economics: “In the long run, we will all retire. But in the meantime, we need more productive investment.”

In other words: although the euro area’s longer-term challenges of growth and competitiveness cannot be solved by monetary policy, the fall in interest rates brings welcome room for manoeuvre for households and companies. Rate cuts have been supportive of the investments that are required to improve productivity. Of course, in the long term, the level and growth of investments is determined by their expected real returns.

Although there is little to be positive about in the security situation in Europe, the expected increases in defence spending and investment are at least likely to support GDP growth over the medium-term.

Slide 5: Euro area inflation stabilising at the 2% target

Inflation in the euro area is stabilising at the ECB’s 2% target. The path of disinflation has been pretty much in line with forecasts. Wage inflation has largely decelerated, and forward-looking wage indicators point to a clear slowdown in wage growth. Most measures of core inflation − which excludes energy and food prices − also point to a sustained convergence of inflation around the 2% target over the medium term.

Risks to the inflation outlook are two-sided. Protectionism in world trade dampens growth and increases uncertainty about the inflation outlook. Geopolitical tensions pose a wide range of risks to the energy market, consumer confidence and corporate investment.

Slide 6: ECB’s decision to ease monetary policy spurred by inflation stabilising and growth weakening

The ECB’s latest decision to ease monetary policy leaned on the fact that inflation is stabilising and growth weakening. Thus, the Governing Council decided to cut the key policy rate by 25 basis points.

The rate cut was the sixth since we started easing monetary policy. Since last June, the deposit facility rate has been lowered by a total of 1.5 percentage points, from 4% to 2.5%. Monetary policy is thus becoming meaningfully less restrictive.

The decision was based, as usual, on three elements: the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.

We are not pre-committed to any interest rate path. Policy rates are set at each meeting based on the latest information and our comprehensive assessment, next time on 17 April. The Governing Council retains full freedom of action in times of pervasive uncertainty.

Slide 7: Europe is under challenge from the world of geopolitics – investment is needed now in security and productivity

Let me now conclude. The world is now experiencing a transition of potentially similar magnitude as 30 years ago, when the Berlin Wall fell, the Cold War ended and Europe united. At that time, the evolution of humanity took a step forward and security rooted in cooperation was strengthened.

Today the world only is in reverse gear: power politics has returned in a brutal way with Russia’s invasion, the United States is standing by Russia and playing sphere-of-influence politics, and China is challenging the entire international order.

But we must be able to navigate even in this geopolitically difficult terrain. With the Munich Security Conference, Europe has received yet another wake-up call.

At the same time, we must focus on our own economic problems. Europe needs investments in productivity growth – in human capital and in research and innovation. Protectionism highlights the need to complete the single market and expand the EU’s network of free trade agreements.

The stabilisation of inflation and the weakening of the growth outlook have supported monetary policy easing since last summer. The ECB’s monetary policy has been reasonably successful in bringing inflation down without inflicting unnecessary pain to the real economy.

The past few weeks have shown that Europe must urgently get its act together and stand united in the face of external security threats. In the coming weeks and months, Europe will have to demonstrate that it is taking action and meeting the challenge of strengthening its defence. There is no time to waste.

Thank you very much. I am happy to take any questions you have.

MIL OSI Economics –

March 26, 2025
MIL-OSI China: Chinese commerce minister meets president of Boeing Global

Source: People’s Republic of China – State Council News

BEIJING, March 25 — China will steadfastly expand its high-standard opening-up and keep improving its business environment, Chinese Commerce Minister Wang Wentao said here Tuesday.

It is hoped that Boeing will seize the opportunity, deepen its cooperation with China’s aviation industry, and provide more high-quality products and services to Chinese businesses and consumers, Wang said when meeting with Brendan Nelson, senior vice president of the Boeing Company and president of Boeing Global.

As the world’s two largest economies, China and the United States should carry out mutually beneficial economic and trade cooperation, which conforms to the fundamental interests of both sides, the minister said.

He expressed the hope that Boeing will play an active role in maintaining the stability and health of the global aviation industry ecosystem, and contribute to the development of China-U.S. economic and trade relations.

Noting that aviation is a highly globalized industry with deeply integrated production and supply chains, Nelson said Boeing will continue to honor its commitment to the Chinese market, expand its investment in China, and support the growth of China’s air transportation sector.

The United States and China have complementary strengths and are interdependent. Mutually beneficial cooperation meets the expectations of businesses on both sides, he said.

Boeing is ready to continue playing a constructive role in the healthy, stable development of U.S.-China relations, he added.

MIL OSI China News –

March 26, 2025
MIL-OSI: aiCraft.Fun Soars to 500K+ Users in a Month, 1st AI Revolution on Monad Ready to Launch

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, March 25, 2025 (GLOBE NEWSWIRE) — aiCraft.fun, a rising star in the AI and Web3 space featured on Bitcoin.com, is making significant strides as the leading AI Agent Launchpad on Monad, a high-performance Layer-1 blockchain. With a user base approaching 500K+ in just one month, and a notable presence at the PLS 369 Conference in Las Vegas, the platform is positioning itself as a key player in the intersection of AI, blockchain, and real-world business applications.

aiCraft.fun: Expanding Reach Through 20+ Strategic Partnerships

aiCraft.fun has secured partnerships with Kintsu, Magma, Bean Exchange, and 17+ other firms, broadening its AI Agent applications across diverse sectors. aiCraft’s AI Agents optimize supply chain processes, leveraging Monad’s 10,000 TPS throughput via parallel execution on Kintsu, a liquid staking platform. AI solutions by aiCraft also enter the entertainment sector in collaboration with Magma, a Web3 gaming infrastructure provider, to transform in-game economies—an industry projected to reach $8.6 billion in revenue by 2027, per Newzoo research.

These collaborations build on aiCraft’s existing work with Fizen.io, integrating Travel AI Agents into the Fizen Super App and its portfolio of 4,000+ global gift card brands, including Nike, Adidas, and Uber. They showcase aiCraft’s ability to deliver tailored AI solutions across industries.

Unmatched Community Growth: 500K+ Users and 12M Transactions in Over One Month

As a result of massive go-to-market strategies, aiCraft.fun’s growth trajectory is striking, signaling a huge launch ahead. The platform has surged to over half a million users in just over a month—a 141% jump from the 360K reported on March 17, 2025—while racking up 12M transactions, a 200% increase from 6M in the same period. This meteoric rise has solidified aiCraft’s position as a Top 3 dApp on Monad, surpassing giants like Uniswap and Magic Eden.

With a weekly active user (WAU) of 210K, and a global reach spanning the US, UK, Hong Kong, China, Japan, aiCraft.fun is capturing the imagination of creators and businesses worldwide. Its $AICFUN token sale has also sparked buzz, with over 200 KOLs sharing posts, reflecting the excitement around this AI Agent platform.

Hit the Spotlight at PLS 369 Conference: AI Meets Crypto Innovation

aiCraft.fun’s momentum reached new heights at the PLS 369 Conference, at the Flamingo Las Vegas Conference Center. The team was thrilled to see their advisor, Joey Bertschler, take the stage on the AI panel, bringing aiCraft’s vision of smart tech solutions to the forefront of the crypto and business innovation conversation. Joey, a thought leader with ties to OpenAI and Forbes, highlighted how platforms like aiCraft are bridging AI and blockchain to solve real-world problems, from travel to retail to gaming.

“Seeing Joey at PLS 369 was a proud moment for us,” said Harry, CEO of aiCraft.fun. “We’re en route to making AI Agents a cornerstone of Web3 innovation, and events like these put aiCraft in the global spotlight where it belongs.”

Why aiCraft.fun Is the Future of AI and Web3

Built natively on Monad—a Layer-1 blockchain with $244M in funding and Ethereum Virtual Machine (EVM) compatibility—aiCraft.fun empowers creators to train, deploy, and monetize AI Agents easily. From Sales Agents driving revenue for travel and retail to Income Generation Agents earning passive income via tips and commissions, the platform’s one-click deployment and tokenization features (via Initial Agent Offerings) are a game-changer.

With the massive buzz on X by KOL, 20 B2B partners ready to deploy AI Agents, and a technical advisor from OpenAI and Forbes, aiCraft.fun is not just a dApp—it’s a movement. Harry expressed deep appreciation for the platform’s community: “We’re incredibly grateful to the aiNADs community for driving this growth. Their support has been invaluable, and we’re thrilled to be launching our first AI Agent with our partners and rolling out the $AICFUN token.” Built on Monad, which has raised $244 million and offers Ethereum Virtual Machine (EVM) compatibility, aiCraft is preparing to deploy its first AI Agent and launch its token, marking a pivotal step in its journey.

Join the AI Revolution Today

The future of AI and Web3 is here, and aiCraft.fun is leading the charge. Whether you’re a creator looking to earn passive income or a business aiming to supercharge operations, now is the time to get involved.

Get involved & stay updated:
Website: https://aicraft.fun/
X: https://x.com/aicraftfun

Contact:
Evelyn Wong
CMO
info@aicraft.fun

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