NewzIntel.com

Category: DJF

  • MIL-OSI Security: Former Santa Cruz County Treasurer Sentenced to 10 Years in Prison for Stealing Over $38 Million in County Funds

    Source: US FBI

    TUCSON, Ariz. – Elizabeth Gutfahr, 63 of Rio Rico, Arizona, was sentenced on June 23, 2025, by United States District Judge Rosemary C. Márquez to 120 months in prison, followed by three years of supervised release. Gutfahr previously pleaded guilty to Embezzlement by a Public Official, Money Laundering, and Tax Evasion. Gutfahr was also ordered to pay approximately $51.8 million in restitution to Santa Cruz County and the United States Treasury.

    “The people of Santa Cruz County and all Arizonans have a right to expect their elected leaders to serve with integrity and in the best interest of their constituents,” said U.S. Attorney Timothy Courchaine. “Ms. Gutfahr stole more than money from the people of her county, she betrayed the confidence of the voters who elected her. This sentence shows that abuse of public trust will be punished.”

    “Ms. Gutfahr will now be held accountable for using her official position for huge financial gain at the expense of the residents of Santa Cruz County,” said FBI Phoenix Special Agent in Charge Heith Janke. “Each act of greed and dishonor negatively affected fundamental aspects of the county’s operations. The FBI continues to investigate public corruption cases, and we remain committed to identifying and pursuing those who violate the public’s trust.”

    “Ms. Gutfahr violated her sworn duty by enriching herself with the public money she was entrusted to protect,” said Special Agent in Charge Carissa Messick of the IRS Criminal Investigation Phoenix Field Office. “Taxpayers deserve to know that their elected leaders are working in the community’s best interest — not just their own. IRS-CI remains committed to rooting out corruption at every level.”

    According to court documents, Gutfahr, who served as Santa Cruz County Treasurer from 2012 through 2024, embezzled and laundered approximately $38.7 million by wiring public funds from Santa Cruz County’s account to accounts in the names of fake companies she had created that performed no legitimate business. Gutfahr then used the money to purchase real estate, to renovate her family ranch, to pay expenses for her cattle business, and to buy at least 20 vehicles.

    Gutfahr’s 10-year scheme involved approximately 187 wire transfers, which she was able to complete by undermining the two-step approval process required for transfers. Gutfahr used the token of a subordinate Santa Cruz County employee so that she could both initiate and approve the wire transfers. To cover up the scheme, Gutfahr falsified accounting records, cash reconciliation records, and reports of the County’s investment accounts, thereby hiding the millions of dollars that she had stolen from Santa Cruz County. Gutfahr also failed to report any of the stolen funds as income for tax purposes.

    The FBI and IRS-CI conducted the investigation in this case. Assistant U.S. Attorney Jane L. Westby for the District of Arizona and Senior Litigation Counsel Nicholas W. Cannon of the Criminal Division’s Public Integrity Section handled the prosecution.

    CASE NUMBER:           24-CR-08132-TUC-RM
    RELEASE NUMBER:    2025-098_Gutfahr

    # # #

    For more information on the U.S. Attorney’s Office, District of Arizona, visit http://www.justice.gov/usao/az/
    Follow the U.S. Attorney’s Office, District of Arizona, on Twitter @USAO_AZ for the latest news.

    MIL Security OSI –

  • MIL-OSI Security: FBI Announces Reward in Search for Fugitive Miguel Angel Aguilar Ojeda

    Source: US FBI

    Today, the FBI announced a reward of up to $25,000 for information leading to the location and arrest of Miguel Angel Aguilar Ojeda, who is wanted for allegedly killing his wife on October 27, 2024, in Philadelphia, Pennsylvania.

    On October 30, 2024, the Commonwealth of Pennsylvania, County of Philadelphia, issued an arrest warrant for Ojeda after he was charged with murder, possessing instruments of crime, abuse of corpse, and tampering with evidence.

    On November 21, 2024, a federal arrest warrant was issued for Ojeda in the U.S. District Court, Eastern District of Pennsylvania, Philadelphia, Pennsylvania, after he was charged with unlawful flight to avoid prosecution.

    Ojeda has tattoos on both of his wrists, including the name “Miguelito” in black script with a yellow crown on his right wrist. He has ties to Camden, New Jersey; Philadelphia, Pennsylvania; and Mexico.

    Ojeda should be considered armed and dangerous.

    If you have any information concerning this person, please contact your local FBI office or the nearest American Embassy or Consulate. Tips can also be submitted online at tips.fbi.gov.

    MIL Security OSI –

  • MIL-OSI Security: Federal Inmate Sentenced to an Additional Five Years for Fatal Stabbing of Fellow Inmate

    Source: US FBI

    TERRE HAUTE— Otha Don Watkins III, 43, of Cairo, Illinois has been sentenced to five years in federal prison after pleading guilty to involuntary manslaughter and possessing contraband in prison.

    According to court documents, in April of 2023, Otha Watkins was an inmate at the Federal Correctional Complex in Terre Haute, Indiana, serving a 23-year sentence for aiding and abetting armed bank robbery, possession of a stolen firearm, and conspiracy to commit robbery. While in prison, Watkins obtained a piece of metal, sharpened to a point on one end and wrapped with white cloth on the other. This object, commonly known as a “prison shank” is classified as prohibited because it is a weapon or designed or intended to be used as a weapon.

    On April 14, 2023, Watkins was assigned to Unit D-2 of the USP. Inmate Carlos Shelton (“Shelton”) was assigned to the same unit. That day, Watkins and Shelton met on a tier in the unit and began fighting, both armed with improvised shanks. During the course of the fight, Watkins fatally stabbed Shelton in the chest, damaging arteries associated with the heart and lungs. The stab wound led to a massive hemothorax. Shelton died on April 14, 2023.

    “Given Otha Watkins’ history of violent offenses, culminating in the brutal attack he carried out in the Terre Haute prison, it’s evident that he should never be allowed to live outside federal custody again,” said John E. Childress, Acting United States Attorney for the Southern District of Indiana. “I commend the FBI and our federal prosecutor for their tireless efforts to ensure this defendant faces justice. I hope that the conclusion of this case provides some sense of closure and peace to Mr. Shelton’s family.”

    “Today’s sentencing marks the conclusion of a senseless act of violence that took place within the walls of our correctional institution,” said a Bureau of Prisons Spokesperson. “Otha Watkins demonstrated an utter disregard for human life and the rule of law. The court’s decision affirms that such actions carry severe consequences, and it sends a clear and resounding message: acts of violence in federal prison will be met with the full weight of the law.”

    “This brutal killing is a reminder that violence can occur anywhere, even within the confines of the most secure environments,” said FBI Indianapolis Special Agent in Charge Timothy J. O’Malley. “The FBI and our partners are committed to protecting all individuals, regardless of their incarceration status, and we will continue to work to ensure those who commit violent acts while incarcerated, are held fully accountable.”

    The FBI and Bureau of Prisons investigated this case. The sentence was imposed by U.S. District Court Judge James R. Sweeney II. 

    Acting U.S. Attorney Childress thanked Assistant U.S. Jayson W. McGrath, who prosecuted this case.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Nine Members of 36th and Penn “Big Sip” Drug Trafficking Organization Indicted on Fentanyl Conspiracy and Firearms Charges

    Source: United States Bureau of Alcohol Tobacco Firearms and Explosives (ATF)

    MINNEAPOLIS – Nine defendants have been indicted on federal fentanyl and firearms charges for their involvement in the “Big Sip Drug Trafficking Organization (DTO)” — a violent drug trafficking organization that that sold out of at least five apartment buildings near the intersection of 36th Avenue North and North Penn Avenue in Minneapolis, announced Acting U.S. Attorney Joseph H. Thompson.

    “Today marks the federal takedown of yet another dangerous criminal organization. And we will not stop,” said Acting U.S. Attorney Joseph H. Thompson. “The Big Sip drug trafficking organization wreaked havoc at 36th and Penn, bringing guns, violence, and deadly fentanyl to neighborhood apartment buildings. The law abiding people of Minneapolis deserve better. I am proud of the federal, state, and local team that came together to protect the neighborhood from this fentanyl trafficking organization.”

    According to court documents,Larry McGee, 42, Danielle Robberstad, 35, Maurice Montgomery, 31, Dameon Collins, 24, Marcus Lucious, 53, Romell Vann, 22, Bobby Nolan, 43, and Jeremy Lucious, 35, all are members of a drug trafficking organization (“DTO”) known as the “Big Sip DTO,” a high-volume fentanyl sales operation that sold out of at least five apartment buildings near the intersection of 36th Avenue North and North Penn Avenue in Minneapolis. The Big Sip DTO’s operation contributed to crime in the area, including shootings, homicides, and drug use, from August 2023 through June 2025. The defendants were indicted for a Conspiracy to Distribute Fentanyl in violation of Title 21 United States Code, Sections 841(a)(1) and 846. Three defendants, Montgomery, Collins, and Vann, were also indicted for Possessing Firearms in Furtherance of Drug Trafficking, in violation of Title 18, United States Code, Section 924(c).  Seven defendants made their initial appearnces today and are all detained pending further proceedings.  An eighth defendant will make his initial appearance tomorrow. A ninth defendant remains under seal.  The defendants all face up to life in prison.

    According to court documents, the Big Sip DTO originated in the summer of 2023, led and operated by defendants McGee and Robberstad, who are husband and wife. The Big Sip DTO was an efficient sales operation with defined roles. At the top, McGee led the organization. He obtained and stored the fentanyl product, collected proceeds, and managed other members of the organization. Robberstad was a co-leader of the organization. Robberstad maintained the apartments used for fentanyl storage and sales, interacted with customers, provided vehicles for use by the organization members, and managed other members’ sales.

    Defendants Montgomery, Collins, M. Lucious, Vann, Nolan, and J. Lucious were also members of the Big Sip DTO. These defendants all sold fentanyl on behalf of the organization to users at the apartments controlled by the Big Sip DTO. Montgomery was responsible for collecting and transporting the profits of the fentanyl sales to McGee. Montgomery, as well as Collins and Vann, all possessed firearms to protect their product and sale activities.

    “Time and again, violent drug trafficking rings try to take root in our communities, bringing with them illegal guns, violence, and fear,” said ATF Special Agent in Charge Travis Riddle, of the St. Paul Field Division. “As soon as these organizations surface, ATF, along with our law enforcement partners, will be there to dismantle their operations and hold them accountable. We will not allow armed criminal groups to threaten the safety and future of the Twin Cities.”

    “This operation disrupted a violent drug trafficking network that was funneling narcotics, including deadly fentanyl, to the streets,” said Special Agent in Charge Alvin M. Winston Sr. of FBI Minneapolis. “These drugs and the criminals who traffic them, bring death, sorrow, and fear to our communities.  As this coordinated operation demonstrates, those who poison and terrorize the public will face justice. The FBI and our partners will stop at nothing to pursue and apprehend these dangerous offenders and protect our communities.”

    “For too long, 36th and Penn has been a hotspot for violent crime,” said Chief O’Hara. “In 2024, there were four times as many shooting victims within a one block radius of 36th and Penn than the previous three-year average. Overall violent crime more than doubled within a one-block radius of 36th and Penn. We’ve seen the spike in violent crime and heard the concerns loud and clear from the community. Inspector Charlie Adams and the officers of the Fourth Precinct have been working closely with residents to address those concerns, while our investigators have pursued long-term strategies to bring relief. I’m incredibly grateful to the dedicated MPD personnel and to our local and federal partners who supported this investigation. I’m hopeful these arrests and charges will deliver an immediate impact and help restore a sense of safety for everyone who lives and works near 36th and Penn.”

    “These defendants are suspected of some of the worst crimes wreaking havoc on our community. I want to thank all law enforcement agencies for their work on this case including the Hennepin County Sheriff’s Office Criminal Intelligence Division and Violent Offender Task Force. These units provided intelligence throughout the case, carried out search warrants, targeted traffic stops, K9 operations, and much more to bring down these defendants and damage the criminal organization. We must stop those harming our neighbors, friends, and family and part of that work includes stopping the source,” said Dawanna Witt, Sheriff of Hennepin County.

    This case is the result of an investigation conducted by the ATF, FBI, Minneapolis Police Department, and the Hennepin County Sheriff’s Office.

    Assistant U.S. Attorney William C. Mattessich is prosecuting the case.

    An indictment is merely an allegation, and the defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law. 

    MIL Security OSI –

  • MIL-OSI Security: Las Vegas Jury Convicts Woman for Threats Against Two Federal Judges and Her Probation Officer; San Diego Trial Team Prosecuted the Case in the District of Nevada

    Source: US FBI

    LAS VEGAS – A federal jury has convicted Latonia Smith of cyberstalking and threatening two district court judges and a probation officer, all of whom were involved in her previous federal conviction for death threats she made against lawyers in yet another case.

    In the current case, after a six-day trial and less than one day of deliberation, a jury found that Smith threatened U.S. District Judge Richard Franklin Boulware, who presided over Smith’s 2021 trial and sentenced her to 36 months in prison for that offense. The jury also found that Smith targeted U.S. District Judge Jennifer A. Dorsey, who presided over the defendant’s supervised release, and Shawn Mummey, her probation officer.

    At the time of the grand jury’s indictment in the current matter, Smith was on supervised release from that previous federal 2021 conviction. In that case, Smith targeted corporate lawyers involved in defending the 2017 firing of her mother from her job as a guest room attendant at the Planet Hollywood Hotel and Casino in Las Vegas after she allegedly took a small amount of money from a guest’s room.

    “All of these victims felt threatened and emotionally distressed. They then took steps to protect themselves and their families,” said U.S. Attorney Adam Gordon for the Southern District of California. “Threats directed at members of the judiciary are not only criminal acts, but direct attacks on the rule of law. Intimidation of judges and court personnel erodes public trust and threatens the fair administration of justice for all.”

    “The FBI takes threats of violence very seriously and works diligently to protect the communities we serve,” said Rafik Mattar, Acting Special Agent in Charge of the FBI in Las Vegas, “We will not tolerate threats of violence to any member of our community, particularly those dedicated to safeguarding our democratic process. The defendant’s actions were dangerous and unacceptable. We will continue to work with our law enforcement partners to disrupt and investigate those who engage in violent rhetoric—ensuring accountability for anyone who threatens to harass, intimidate, or harm others.”

    When Smith was released from federal prison in the first case against her, she was sent to Washoe County jail to face allegations related to an October 31, 2019, armed home-invasion in Reno she allegedly committed against another lawyer involved in the Planet Hollywood case.

    Smith was granted bail in early June 2022. Upon her return to Las Vegas, Smith immediately began searching Google for information about Judge Boulware along with his wife, Las Vegas City Councilwoman Nancy Brune, and their family. At the same time, she googled “judges should die.”

    Over the next several weeks, the defendant became increasingly frustrated with judges and anyone involved with her prior federal case. On June 23, 2022, the defendant emailed her probation officer and explained, “Some good advice: Life is short, society should be careful who they piss off.” Below the warning, the defendant sent a link to a YouTube video showing a six-minute compilation of cell phone videos from the October 1 mass shooting at the Mandalay Bay Hotel.

    Over the next few days, Smith sent a series of emails. Some threatened a mass casualty event: “LET THE SHOW BEGIN. NEVADA IS GOING TO LOVE THIS!!!!”  Some were designed to let victims know their loved ones were in jeopardy: “LETS KEEP [YOUR KIDS] IN FOCUS”.

    Throughout many of the emails, the defendant made it clear that she had deeply researched the recipients of her threats, accurately identifying where they could be found, either during hobby activities, or in their actual homes. For example, to Judge Jennifer Dorsey the defendant wrote: “Tell Jennifer, Henderson is nice I see why she chose that area. Lots of shops nearby. Smart.” At trial, Judge Dorsey testified that the defendant’s identification of her personal residence inspired her to immediately sell her home and move.

    The victims of Smith’s threats testified at trial they were frightened and believed Smith was capable of violently acting on her threats as she had allegedly done in the pending case regarding the armed home invasion targeting the lawyer in Reno.

    U.S. District Judge Gloria Navarro reported Smith’s threats to U.S. Marshals, who protect the federal judiciary. Judge Navarro testified at the trial, telling the jury that she recognized the danger posed by the defendant and immediately took action.  “I emailed the chief of probation; anybody I could get a hold of to prevent a tragedy…I didn’t want to die. I didn’t want my family to die.  I didn’t want my coworkers to die.” The Marshals then contacted the FBI.

    After two special agents from the FBI interviewed the Smith on June 27, 2022, she was immediately taken into custody, where she has remained. During the interview, when asked what she was thinking about when she was researching mass shooters, Smith responded: “I think what they were thinking.”

    The investigation found that Smith, who has a biochemistry degree from the University of Nevada Las Vegas, Googled phrases like “judges die,” “how to become a bomb maker,” “how to be a mass shooter,” “buying a gun,” and “ar 15 for sale.” She also watched the compilation of videos from the October 1 mass shooting 13 times over a three-week period.  At the same time, the defendant repeatedly searched the names of her targets, some of their children, and some of their home addresses. The jury deliberated for less than a day before returning a guilty verdict on three counts of cyberstalking for the emails sent to Judges Dorsey and Boulware, along with her probation officer. The jury acquitted the defendant on the other two counts of cyberstalking.

    The defendant will remain in custody pending sentencing, on a date yet to be determined.

    The trial took place in the federal courthouse in Las Vegas. The presiding judge was Senior District Court Judge Michael W. Mosman, from the District of Oregon. Judge Mosman was appointed to preside over the case by special designation of the Ninth Circuit Court of Appeals.

    Smith’s prosecution was initiated by the U.S. Attorney’s Office for the District of Nevada, out of their office in Reno.  In March 2024, the Department of Justice recused the entire U.S. Attorney’s Office for the District of Nevada and had the prosecution reassigned.

    This case is being prosecuted by Assistant U.S. Attorneys Andrew Haden and Francisco Nagel for the Southern District of California, both of whom were named Special Assistant U.S. Attorneys in Las Vegas after the U.S. Attorney’s Office for the District of Nevada was recused.

    DEFENDANT                                                Case Number 22CR051-MWM                              

    Latonia Dyshawna Smith                               Age: 31                       Las Vegas, NV

    SUMMARY OF CHARGES

    Three Counts of Cyberstalking – Title 18, U.S.C., Sections 2261A

    Maximum penalty: Five years in prison, as to each count of conviction

    INVESTIGATING AGENCIES

    Federal Bureau of Investigation

    MIL Security OSI –

  • MIL-OSI United Nations: Continuity planning empowers businesses to adapt, recover, and thrive

    Source: UNISDR Disaster Risk Reduction

    Businesses often struggle to recover from extreme weather events and natural hazards because they are not ready. 

    It has been estimated that 40% of small and medium-sized enterprises (SMEs) do not reopen after a disaster and many of those that do, fail within a year. Businesses need to rethink their operating models before disruptions happen. Yet building disaster resilience does not always have to require a resource intensive process or lead to something new.  It does not mean changing what a business does, but how it does it. This is where business continuity planning comes in.

    A business continuity plan (BCP) outlines what is needed for a business to continue operating or resume operations after a disruption. It serves as a guide for pivoting operations if and as needed. Yet according to some estimates, only 20-30% of SMEs have written BCPs in place.

    In partnership with local governments, chambers of commerce and ARISE networks, UNDRR is implementing a project in Barcelona (Spain), Bridgetown (Barbados) and Sendai (Japan) to support SMEs in developing and testing business continuity plans to strengthen their disaster resilience. Early lessons are already emerging. 

    Here are five noteworthy things about business continuity planning that further highlight its importance:

    Business continuity plans can separate those that recover from those that do not

    With the increasing frequency and intensity of disasters, preparation is no longer optional. It makes all the difference. In many parts of the world, the question is not whether but when the next extreme weather event or natural hazard will strike. What businesses do today will determine how they fare in the face of a disaster tomorrow. A systemic approach to developing a BCP – conducting even quick multi-hazard risk assessments, identifying critical functions, outlining response and communications protocols, assigning roles, and stress-testing the plan – outline a clear roadmap that enables faster, risk informed decision-making and more effective resource allocation. Those without BCPs will inevitably face more chaos, operational delays, and significant losses – many times leading to business closure. Businesses that are risk-aware, with tested and up-to-date BCPs, however, are able to absorb shocks better, pivot operations, recover faster and become more resilient.  

    Business continuity plans are cost-effective mitigation measures

    Business continuity plans are a quick, low-cost way to mitigate potentially high-impact disaster risks. They typically require low financial investment especially when compared against the potentially significant losses of being unprepared for disasters. This is particularly true for small and medium-sized enterprises (SMEs) that often do not have the resources – human or financial – for developing more holistic disaster risk reduction approaches or undertaking disaster recovery efforts.

    Business continuity plans are a mechanism to operationalize resilience

    While resilience encompasses more than just business continuity, a well prepared BCP provides the foundation for reducing organizational vulnerabilities, pivoting operations and building resilient recovery capabilities. They clarify roles and actions that are needed to continue operations or resume quickly after a disruption. While resilience may be the ultimate goal, business continuity planning represents the practical steps to achieve it.

    Business continuity plans can offer a strategic advantage during uncertainty

    Business continuity plans can significantly enhance a company’s competitiveness and safeguard long-term success during disruptions. Those that have BCPs – and have tested and updated them regularly – are in a better position to minimize downtime and continue or quickly resume their operations. They are better equipped to protect their physical assets and data, while also retaining customers as well as contributing to the resilience of the communities where they operate. The operational flexibility – agility and ability to adapt to changing circumstances – can even help in capturing more market share.

    Business continuity plans can improve financial reserves

    Limited access to finance and no or inadequate insurance coverage are often cited among the key reasons why SMEs do not recover from disasters. Partners want to ensure that their supply chains and services are not disrupted, investors and lenders are keen to protect their capital, and insurers want to minimize payouts. A robust BCP can help improve financial cushioning by providing a form of assurance that operations will continue. As operational and financial risks are lowered, the business becomes a more stable, and thus attractive investment. Business continuity planning can also improve insurability: turning the business into a lower-risk policyholder, potentially leading to better policy terms and/or lower insurance premiums. In general, BCPs signal commitment to proactivity, stability and sustainability – making the business more credible and trustworthy in the eyes of all key stakeholders.

    To support businesses in understanding their resilience capacities, UNDRR has also developed the Resilience Maturity Assessment Tool (ReMA). ReMA helps businesses – particularly SMEs – identify gaps in their disaster preparedness and assess the maturity of their resilience strategies, offering a structured path toward stronger continuity planning and risk governance.

    Business continuity planning is more than a safeguard – it’s a strategic choice that empowers businesses to adapt, recover, and thrive amid disruption.

    MIL OSI United Nations News –

  • MIL-OSI Security: U.S. Marshals Arrest Homicide Suspect

    Source: US Marshals Service

    Albuquerque, NM – The U.S. Marshals Service Southwest Investigative Fugitive Team on June 26 arrested near Coal Avenue SE and University Boulevard SE here a New Mexico man wanted for two felony warrants.

    Jonathan Torres, 38, was wanted for a New Mexico state felony warrant out of Metropolitan Court, charging him with murder, kidnapping, three counts of aggravated assault against a household member, aggravated assault, felon in possession of a firearm, and battery against a household member. 

    Additionally, Torres was wanted for a federal probation violation warrant, following a 2024 federal conviction for being a felon in possession of a firearm.

    “The United States Marshals Service is dedicated to joining forces with our law enforcement partners to reduce violent crime,” said U.S. Marshal for the District of New Mexico David O. Barnett, Jr. “We are committed to working together to improve the lives of our New Mexico communities.”

    Following his arrest, Torres was booked into the Bernalillo County Metropolitan Detention Center, with a federal detainer attached.

    This arrest was the result of efforts by multiple local, state and federal law enforcement agencies, including the Albuquerque Police Department, the Bernalillo County Sheriff’s Office, the New Mexico State Police, the New Mexico Department of Corrections-Probation and Parole and the U.S. Marshals Service.

    Anyone with information on wanted fugitives is urged to contact the nearest U.S. Marshals office, the U.S. Marshals Service Communications Center at 1-800-336-0102 or submit information via the USMS Tips App.

    MIL Security OSI –

  • MIL-OSI USA: Congressman García’s Statement on Supreme Court Decision on Nationwide Injunctions and Birthright Citizenship

    Source: United States House of Representatives – Representative Jesús Chuy García (IL-04)

    WASHINGTON, D.C. — Congressman Jesús “Chuy” García (IL-04) issued the following statement on the Supreme Court’s decision in Trump v. CASA, Inc., which guts federal courts’ ability to issue nationwide injunctions and enables lawlessness by the Executive Branch: 

    “I represent a district where one out of every three people is an immigrant. Today, the Supreme Court betrayed them, millions of others, and the rule of law itself. By gutting the ability of federal courts to strike down illegal policies—like Trump’s Executive Order to ban birthright citizenship—nationwide, the right-wing justices have further opened the floodgates of presidential lawlessness. Unless this Executive Order is stopped by a class action lawsuit within 30 days, Trump will begin to deny citizenship to children born in the United States—a right that is explicitly enshrined in the Constitution. He will continue to succeed in his mission of creating a permanent underclass of immigrants, violating their rights, exploiting and criminalizing their existence, and denying them access to basic services like health care, housing, and food benefits.

    “From now on, any President will be able to violate any person’s rights unless that person can hire a lawyer, be part of a complicated class action lawsuit process, or live in a state that is willing to protect their rights. This absurd and lawless regime is incompatible with democracy and justice, and Congress must act to clarify the role of federal courts in blocking illegal policies nationwide. I will continue to fight for my community and for a government that upholds the rights of all people instead of a chosen few.”

    # # #

    MIL OSI USA News –

  • MIL-OSI Economics: Piero Cipollone: The quest for cheaper and faster cross-border payments: regional and global solutions

    Source: European Central Bank

    Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the BIS Annual General Meeting

    Basel, 27 June 2025

    Cross-border retail payments are the subject of increasing attention. This is for two main reasons.

    First, they play a growing role in the world economy, as international transaction volumes have been increasing at a faster pace than GDP growth. However, despite some improvements in recent years, many payment corridors remain poorly served, which results in slow transaction times and high costs and ultimately hinders economic growth and social cohesion. Moreover, this inefficiency undermines the benefits of globalisation, as the economic gains from lower trade barriers are diverted into rents within cross-border payment markets, rather than benefiting the businesses and households that make use of them.

    Second, new risks are emerging. Geopolitical tensions, for instance, could lead to further fragmentation of global payment systems. Moreover, the expansion of stablecoins could introduce several additional challenges, including currency substitution risks and over-reliance on a limited number of dominant private issuers.

    This is not a situation we can accept passively. We need continuous efforts to enhance cross-border payments, in line with the G20 Roadmap.[1] And central banks, given their role in ensuring the smooth functioning of payment systems, have a major role to play. Significant work has already been undertaken at international level, notably by the Bank for International Settlements (BIS) and the Financial Stability Board (FSB).

    Today, I would like to share our experience with cross-border payments from a regional perspective, emphasising how regional payment infrastructures can be part of the solution. I will then discuss our vision for advancing cross-border payments at the global level.

    The case for enhancing cross-border retail payments

    Let me begin by underscoring the costs and risks of inaction.

    Over the past few decades, the world has witnessed a surge in cross-border payments, driven by the globalisation of trade, capital and migration flows. According to some estimates, the value of cross-border retail payments could grow from close to USD 200 trillion last year to USD 320 trillion by 2032.[2]

    Yet, the average cost of international retail payments remains high. For nearly one-quarter of global payment corridors, costs exceed 3%. And in too many cases, they are slow – one-third of retail cross-border payments took more than one business day to be settled in 2024.[3]

    Worryingly, there are signs that progress is stalling. The FSB’s 2024 progress report revealed no improvements in costs and noted a deterioration in both costs and speed compared with 2023.[4]

    Geopolitical tensions further compound these challenges, as they risk fragmenting global payment systems and undermining the rules-based international order. This could challenge established correspondent banking networks and lead to greater complexity, higher costs and, in a worst-case scenario, the splintering of the global payment system into multiple, non-communicating blocs.

    This raises three pressing issues.

    First, high costs and slow transaction times are hampering economic integration and growth, with small and medium-sized enterprises (SMEs) bearing the brunt. For SMEs operating on tight margins, exorbitant fees discourage them from participating in cross-border trade.

    Second, the world’s most vulnerable groups – such as migrant workers sending remittances home – shoulder a disproportionate share of these costs. In many regions, sending money internationally remains prohibitively expensive. For example, the average costs of remittances to sub-Saharan Africa and South Asia stand at 7.7% and 6.2% respectively.[5] As it stands, the global Sustainable Development Goal target of lowering remittance costs to 3% remains a distant goal. The impact that reducing these fees would have on financial inclusion and well-being cannot be overstated.

    Third, inefficiencies in cross-border payments have created a gap that alternative players, particularly in the crypto-asset space, are eager to fill. However, many of these solutions come with significant risks. Unbacked crypto-assets, for instance, are highly volatile and speculative in nature, creating risks for unsuspecting households and businesses and lending themselves to illicit activities.[6]

    Furthermore, stablecoins come with their own set of challenges, which the BIS described in detail in a special chapter of its Annual Economic Report published this week.[7] Stablecoins carry credit risk, making them susceptible to runs, and pose fragmentation risks due to the multitude of stablecoins being issued. Some of these could end up trading at a discount, undermining the singleness of money.[8] Moreover, because a small number of issuers currently dominate the market, this could also give rise to concentration risks. Lastly, a key concern is the prevalence of US dollar stablecoins, which currently account for 99% of the global stablecoin market.[9] These stablecoins provide an easy way to store value in dollars, considerably increasing the risk of currency substitution in the form of “digital dollarisation”.[10] This phenomenon could have destabilising effects, particularly on emerging markets and less developed economies by impairing the effectiveness of domestic monetary policy. It may also increase the risk of capital flight in response to adverse economic shocks.

    Enhancing cross-border retail payments at the regional and global level

    To address inefficiencies in cross-border payments, we must offer an alternative that connects various parts of the global payments system and delivers tangible benefits in terms of speed and cost. At the same time, this solution must respect the integrity, sovereignty and stability of all countries involved.

    At the ECB, we are pursuing this on two levels – regional and global.

    Regional cross-border payments: the European experience

    At the regional level, Europe serves as a compelling example of what an interconnected payments landscape might look like.

    Of course, this has been facilitated by the creation of a single European market and the establishment of a monetary union. One of the key reasons for creating the euro was to support trade and investment by facilitating cross-border transactions. And the launch of our single currency offered a first solution to pay throughout the euro area – in the form of euro cash.

    The logical next step was to develop European instruments for electronic euro payments. The Single Euro Payments Area (SEPA) emerged from close cooperation between the public and private sector to harmonise electronic euro transactions. As a result, individuals and businesses can make payments across the euro area at very low costs using credit transfers or direct debit.

    The success of SEPA led to its expansion beyond the euro area and even beyond the European Union. Today, customers in 41 European countries can make euro payments quickly, safely and efficiently via credit transfer and direct debit, just as they would for domestic transactions.

    We have also developed the TARGET Instant Payment Settlement (TIPS) service, which enables the settlement of instant payments across the euro area. Instant payments are further supported by a payment scheme – the SEPA Instant Credit Transfer scheme – that provides harmonised rules, standards and protocols. Moreover, EU legislation has made it mandatory for banks to allow their customers to send and receive instant payment at low cost.

    A key feature of TIPS is that it’s a multi-currency platform. Taking advantage of this, Sweden and Denmark are using TIPS to facilitate fast payments in their respective currencies.[11] Norway will do the same as of 2028.[12] Furthermore, we are implementing a cross-currency settlement service that will allow instant payments initiated in one TIPS currency to be settled in another. Initially, this service will support cross-currency payments between the euro area, Sweden and Denmark.[13]

    Within Europe, we are also supporting the Western Balkans in developing a regional fast payment system.[14] As a service provider for TIPS, the Banca d’Italia is collaborating with the central banks of Albania, Bosnia and Herzegovina, Kosovo and Montenegro to develop an instant, multi-currency payment system based on TIPS software. North Macedonia may join the initiative at a later stage.[15] The new platform will facilitate instant payments both within each participating country and across borders.

    Going global: interlinking fast payment systems

    This shows the potential for strengthening regional integration in payments. However, let me be clear: regional integration must not come at the expense of global connectivity. It should not be used as a means to sever ties with global payment networks.

    Our approach is that regional and global integration can go hand in hand through the interlinking of fast payment systems across regions and countries. Today, over 100 jurisdictions worldwide have implemented their own fast payment systems.[16] Interlinking these systems has the potential to address inefficiencies and build lasting connections that are rooted in trade openness and balanced relationships between partners.

    This approach offers several advantages. It would reduce costs, increase the speed and transparency of cross-border payments and shorten transaction chains. It would also enable payment service providers to conduct transactions without having to use multiple payment systems or a long chain of correspondent banks. Moreover, it would ensure that the platform for connecting and converting currencies is managed as a public good, thus avoiding closed loops and discriminatory pricing. Accordingly, the G20 Roadmap for Enhancing Cross-border Payments has identified interlinking as a key strategy for enhancing cross-border payments.[17] In this respect, the excellent work the Committee on Payments and Market Infrastructures (CPMI) is carrying out on payee verification could make a significant difference.

    Last October, the ECB’s Governing Council decided to take concrete steps towards interlinking TIPS with other fast payment systems to improve cross-border payments globally.[18]

    We will implement a cross-currency settlement service for the exchange of cross-border payments between TIPS and other fast payment systems worldwide.[19] This will allow us to explore interlinking TIPS with fast payment systems that have a compatible scheme, are interested in being involved and fully comply with the standards set by the Financial Action Task Force for combating money laundering and terrorist financing.

    In addition, we are exploring the possibility of creating bilateral and multilateral links with other fast payment systems.

    One possibility under consideration is connecting TIPS to a multilateral network of instant payment systems through Project Nexus, led by the BIS.[20] By joining Nexus, TIPS could serve as a hub for processing instant cross-border payments to and from the euro area and other countries that use TIPS.[21]

    We are also currently assessing the feasibility of creating a bilateral link between TIPS and India’s Unified Payments Interface[22], which handles the highest volume of instant payment transactions in the world[23].

    Interlinking fast payment systems has the potential to solve the shortcomings related to the messaging leg of cross-border transactions, by facilitating the message that the payer’s bank in country A sends to the payee’s bank in country B about the incoming transfer of funds. This would already go a long way towards improving the efficiency of cross-border payments.

    However, what interlinking does not fully resolve is the settlement leg, through which money moves from the payer’s to the payee’s account. This still requires a bank that has access to both payment systems that are interlinked, or a credit relationship between a bank in country A and a bank in country B. This is particularly challenging, given the increasing retrenchment of the correspondent banking model.

    In this context, we need to collectively exercise our creativity. I do not envisage a solution that could cover all possible corridors and use cases: there may be scope for tokenised forms of money, as well as a revival of the correspondent banking model, especially if we can reduce the associated risks.

    In the realm of sovereign money, jurisdictions could agree to use their respective central bank digital currencies as settlement assets. In this respect, the current draft legislation on the digital euro provides for an approach that respects the sovereignty of non-euro area countries and mitigates potential risks for them. It does so by opening the possibility for residents of a partner country to use the digital euro, subject to an agreement with that country, complemented by an arrangement between the ECB and the respective central bank.[24]

    Appropriate safeguards – such as individual holding limits for users – would ensure that the digital euro is used primarily as a means of payment and does not fuel currency substitution. Furthermore, the digital euro’s design would include multi-currency functionality, similar to that of TIPS. In practice, this means that non-euro area countries could use the digital euro infrastructure to offer their own digital currencies, thereby facilitating transactions across these currencies.

    Conclusion

    Let me conclude.

    We find ourselves at a pivotal moment for cross-border payments. If we want to make decisive progress and increase their efficiency, we need to work together to develop new solutions. We must, however, be aware of the risks that some of the alternatives on offer may pose.

    I would like to thank the BIS – and in particular the CPMI – for the active role they play in this area, not least by bringing us all together today, with representatives from A (Angola) to Z (Zambia). Each of us brings different needs and circumstances to the table. This raises two fundamental questions. What do we have in common? And what principles can guide our collective efforts?

    First, we must harness responsible innovation to solve persistent challenges while mitigating the risks I have noted today. Central banks – by ensuring the safety and integrity of payment systems – play an important role in this regard. And by interlinking fast payment systems and exploring the use of central bank digital currencies, we can address settlement inefficiencies while safeguarding monetary sovereignty and financial stability.

    Second, regional solutions can serve as a foundation for global progress. I have argued that regional payment integration can be an important part of the solution – provided it remains open to, and actively facilitates, interlinking at a global level. We firmly believe that this open, multi-currency interlinking approach can lay the groundwork for cheaper, faster and more transparent cross-border payments – without compromising the integrity, stability or sovereignty of the countries involved. By designing payment systems that are open, interoperable and multi-currency ready, we can ensure that regional initiatives contribute to global integration rather than fragmentation.

    Finally, collaboration is central to our collective success. Forums such as the CPMI community of practice, as well as today’s workshop, provide valuable opportunities for sharing knowledge and experiences. We will continue to find ways to work together to build resilient, inclusive and interconnected payment infrastructures that meet the needs of our people and economies. And we at the ECB remain committed to sharing our expertise and collaborating wherever we can add value.

    Thank you for your attention.

    MIL OSI Economics –

  • MIL-OSI Economics: Piero Cipollone: The quest for cheaper and faster cross-border payments: regional and global solutions

    Source: European Central Bank

    Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the BIS Annual General Meeting

    Basel, 27 June 2025

    Cross-border retail payments are the subject of increasing attention. This is for two main reasons.

    First, they play a growing role in the world economy, as international transaction volumes have been increasing at a faster pace than GDP growth. However, despite some improvements in recent years, many payment corridors remain poorly served, which results in slow transaction times and high costs and ultimately hinders economic growth and social cohesion. Moreover, this inefficiency undermines the benefits of globalisation, as the economic gains from lower trade barriers are diverted into rents within cross-border payment markets, rather than benefiting the businesses and households that make use of them.

    Second, new risks are emerging. Geopolitical tensions, for instance, could lead to further fragmentation of global payment systems. Moreover, the expansion of stablecoins could introduce several additional challenges, including currency substitution risks and over-reliance on a limited number of dominant private issuers.

    This is not a situation we can accept passively. We need continuous efforts to enhance cross-border payments, in line with the G20 Roadmap.[1] And central banks, given their role in ensuring the smooth functioning of payment systems, have a major role to play. Significant work has already been undertaken at international level, notably by the Bank for International Settlements (BIS) and the Financial Stability Board (FSB).

    Today, I would like to share our experience with cross-border payments from a regional perspective, emphasising how regional payment infrastructures can be part of the solution. I will then discuss our vision for advancing cross-border payments at the global level.

    The case for enhancing cross-border retail payments

    Let me begin by underscoring the costs and risks of inaction.

    Over the past few decades, the world has witnessed a surge in cross-border payments, driven by the globalisation of trade, capital and migration flows. According to some estimates, the value of cross-border retail payments could grow from close to USD 200 trillion last year to USD 320 trillion by 2032.[2]

    Yet, the average cost of international retail payments remains high. For nearly one-quarter of global payment corridors, costs exceed 3%. And in too many cases, they are slow – one-third of retail cross-border payments took more than one business day to be settled in 2024.[3]

    Worryingly, there are signs that progress is stalling. The FSB’s 2024 progress report revealed no improvements in costs and noted a deterioration in both costs and speed compared with 2023.[4]

    Geopolitical tensions further compound these challenges, as they risk fragmenting global payment systems and undermining the rules-based international order. This could challenge established correspondent banking networks and lead to greater complexity, higher costs and, in a worst-case scenario, the splintering of the global payment system into multiple, non-communicating blocs.

    This raises three pressing issues.

    First, high costs and slow transaction times are hampering economic integration and growth, with small and medium-sized enterprises (SMEs) bearing the brunt. For SMEs operating on tight margins, exorbitant fees discourage them from participating in cross-border trade.

    Second, the world’s most vulnerable groups – such as migrant workers sending remittances home – shoulder a disproportionate share of these costs. In many regions, sending money internationally remains prohibitively expensive. For example, the average costs of remittances to sub-Saharan Africa and South Asia stand at 7.7% and 6.2% respectively.[5] As it stands, the global Sustainable Development Goal target of lowering remittance costs to 3% remains a distant goal. The impact that reducing these fees would have on financial inclusion and well-being cannot be overstated.

    Third, inefficiencies in cross-border payments have created a gap that alternative players, particularly in the crypto-asset space, are eager to fill. However, many of these solutions come with significant risks. Unbacked crypto-assets, for instance, are highly volatile and speculative in nature, creating risks for unsuspecting households and businesses and lending themselves to illicit activities.[6]

    Furthermore, stablecoins come with their own set of challenges, which the BIS described in detail in a special chapter of its Annual Economic Report published this week.[7] Stablecoins carry credit risk, making them susceptible to runs, and pose fragmentation risks due to the multitude of stablecoins being issued. Some of these could end up trading at a discount, undermining the singleness of money.[8] Moreover, because a small number of issuers currently dominate the market, this could also give rise to concentration risks. Lastly, a key concern is the prevalence of US dollar stablecoins, which currently account for 99% of the global stablecoin market.[9] These stablecoins provide an easy way to store value in dollars, considerably increasing the risk of currency substitution in the form of “digital dollarisation”.[10] This phenomenon could have destabilising effects, particularly on emerging markets and less developed economies by impairing the effectiveness of domestic monetary policy. It may also increase the risk of capital flight in response to adverse economic shocks.

    Enhancing cross-border retail payments at the regional and global level

    To address inefficiencies in cross-border payments, we must offer an alternative that connects various parts of the global payments system and delivers tangible benefits in terms of speed and cost. At the same time, this solution must respect the integrity, sovereignty and stability of all countries involved.

    At the ECB, we are pursuing this on two levels – regional and global.

    Regional cross-border payments: the European experience

    At the regional level, Europe serves as a compelling example of what an interconnected payments landscape might look like.

    Of course, this has been facilitated by the creation of a single European market and the establishment of a monetary union. One of the key reasons for creating the euro was to support trade and investment by facilitating cross-border transactions. And the launch of our single currency offered a first solution to pay throughout the euro area – in the form of euro cash.

    The logical next step was to develop European instruments for electronic euro payments. The Single Euro Payments Area (SEPA) emerged from close cooperation between the public and private sector to harmonise electronic euro transactions. As a result, individuals and businesses can make payments across the euro area at very low costs using credit transfers or direct debit.

    The success of SEPA led to its expansion beyond the euro area and even beyond the European Union. Today, customers in 41 European countries can make euro payments quickly, safely and efficiently via credit transfer and direct debit, just as they would for domestic transactions.

    We have also developed the TARGET Instant Payment Settlement (TIPS) service, which enables the settlement of instant payments across the euro area. Instant payments are further supported by a payment scheme – the SEPA Instant Credit Transfer scheme – that provides harmonised rules, standards and protocols. Moreover, EU legislation has made it mandatory for banks to allow their customers to send and receive instant payment at low cost.

    A key feature of TIPS is that it’s a multi-currency platform. Taking advantage of this, Sweden and Denmark are using TIPS to facilitate fast payments in their respective currencies.[11] Norway will do the same as of 2028.[12] Furthermore, we are implementing a cross-currency settlement service that will allow instant payments initiated in one TIPS currency to be settled in another. Initially, this service will support cross-currency payments between the euro area, Sweden and Denmark.[13]

    Within Europe, we are also supporting the Western Balkans in developing a regional fast payment system.[14] As a service provider for TIPS, the Banca d’Italia is collaborating with the central banks of Albania, Bosnia and Herzegovina, Kosovo and Montenegro to develop an instant, multi-currency payment system based on TIPS software. North Macedonia may join the initiative at a later stage.[15] The new platform will facilitate instant payments both within each participating country and across borders.

    Going global: interlinking fast payment systems

    This shows the potential for strengthening regional integration in payments. However, let me be clear: regional integration must not come at the expense of global connectivity. It should not be used as a means to sever ties with global payment networks.

    Our approach is that regional and global integration can go hand in hand through the interlinking of fast payment systems across regions and countries. Today, over 100 jurisdictions worldwide have implemented their own fast payment systems.[16] Interlinking these systems has the potential to address inefficiencies and build lasting connections that are rooted in trade openness and balanced relationships between partners.

    This approach offers several advantages. It would reduce costs, increase the speed and transparency of cross-border payments and shorten transaction chains. It would also enable payment service providers to conduct transactions without having to use multiple payment systems or a long chain of correspondent banks. Moreover, it would ensure that the platform for connecting and converting currencies is managed as a public good, thus avoiding closed loops and discriminatory pricing. Accordingly, the G20 Roadmap for Enhancing Cross-border Payments has identified interlinking as a key strategy for enhancing cross-border payments.[17] In this respect, the excellent work the Committee on Payments and Market Infrastructures (CPMI) is carrying out on payee verification could make a significant difference.

    Last October, the ECB’s Governing Council decided to take concrete steps towards interlinking TIPS with other fast payment systems to improve cross-border payments globally.[18]

    We will implement a cross-currency settlement service for the exchange of cross-border payments between TIPS and other fast payment systems worldwide.[19] This will allow us to explore interlinking TIPS with fast payment systems that have a compatible scheme, are interested in being involved and fully comply with the standards set by the Financial Action Task Force for combating money laundering and terrorist financing.

    In addition, we are exploring the possibility of creating bilateral and multilateral links with other fast payment systems.

    One possibility under consideration is connecting TIPS to a multilateral network of instant payment systems through Project Nexus, led by the BIS.[20] By joining Nexus, TIPS could serve as a hub for processing instant cross-border payments to and from the euro area and other countries that use TIPS.[21]

    We are also currently assessing the feasibility of creating a bilateral link between TIPS and India’s Unified Payments Interface[22], which handles the highest volume of instant payment transactions in the world[23].

    Interlinking fast payment systems has the potential to solve the shortcomings related to the messaging leg of cross-border transactions, by facilitating the message that the payer’s bank in country A sends to the payee’s bank in country B about the incoming transfer of funds. This would already go a long way towards improving the efficiency of cross-border payments.

    However, what interlinking does not fully resolve is the settlement leg, through which money moves from the payer’s to the payee’s account. This still requires a bank that has access to both payment systems that are interlinked, or a credit relationship between a bank in country A and a bank in country B. This is particularly challenging, given the increasing retrenchment of the correspondent banking model.

    In this context, we need to collectively exercise our creativity. I do not envisage a solution that could cover all possible corridors and use cases: there may be scope for tokenised forms of money, as well as a revival of the correspondent banking model, especially if we can reduce the associated risks.

    In the realm of sovereign money, jurisdictions could agree to use their respective central bank digital currencies as settlement assets. In this respect, the current draft legislation on the digital euro provides for an approach that respects the sovereignty of non-euro area countries and mitigates potential risks for them. It does so by opening the possibility for residents of a partner country to use the digital euro, subject to an agreement with that country, complemented by an arrangement between the ECB and the respective central bank.[24]

    Appropriate safeguards – such as individual holding limits for users – would ensure that the digital euro is used primarily as a means of payment and does not fuel currency substitution. Furthermore, the digital euro’s design would include multi-currency functionality, similar to that of TIPS. In practice, this means that non-euro area countries could use the digital euro infrastructure to offer their own digital currencies, thereby facilitating transactions across these currencies.

    Conclusion

    Let me conclude.

    We find ourselves at a pivotal moment for cross-border payments. If we want to make decisive progress and increase their efficiency, we need to work together to develop new solutions. We must, however, be aware of the risks that some of the alternatives on offer may pose.

    I would like to thank the BIS – and in particular the CPMI – for the active role they play in this area, not least by bringing us all together today, with representatives from A (Angola) to Z (Zambia). Each of us brings different needs and circumstances to the table. This raises two fundamental questions. What do we have in common? And what principles can guide our collective efforts?

    First, we must harness responsible innovation to solve persistent challenges while mitigating the risks I have noted today. Central banks – by ensuring the safety and integrity of payment systems – play an important role in this regard. And by interlinking fast payment systems and exploring the use of central bank digital currencies, we can address settlement inefficiencies while safeguarding monetary sovereignty and financial stability.

    Second, regional solutions can serve as a foundation for global progress. I have argued that regional payment integration can be an important part of the solution – provided it remains open to, and actively facilitates, interlinking at a global level. We firmly believe that this open, multi-currency interlinking approach can lay the groundwork for cheaper, faster and more transparent cross-border payments – without compromising the integrity, stability or sovereignty of the countries involved. By designing payment systems that are open, interoperable and multi-currency ready, we can ensure that regional initiatives contribute to global integration rather than fragmentation.

    Finally, collaboration is central to our collective success. Forums such as the CPMI community of practice, as well as today’s workshop, provide valuable opportunities for sharing knowledge and experiences. We will continue to find ways to work together to build resilient, inclusive and interconnected payment infrastructures that meet the needs of our people and economies. And we at the ECB remain committed to sharing our expertise and collaborating wherever we can add value.

    Thank you for your attention.

    MIL OSI Economics –

  • MIL-OSI Economics: Piero Cipollone: The quest for cheaper and faster cross-border payments: regional and global solutions

    Source: European Central Bank

    Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the BIS Annual General Meeting

    Basel, 27 June 2025

    Cross-border retail payments are the subject of increasing attention. This is for two main reasons.

    First, they play a growing role in the world economy, as international transaction volumes have been increasing at a faster pace than GDP growth. However, despite some improvements in recent years, many payment corridors remain poorly served, which results in slow transaction times and high costs and ultimately hinders economic growth and social cohesion. Moreover, this inefficiency undermines the benefits of globalisation, as the economic gains from lower trade barriers are diverted into rents within cross-border payment markets, rather than benefiting the businesses and households that make use of them.

    Second, new risks are emerging. Geopolitical tensions, for instance, could lead to further fragmentation of global payment systems. Moreover, the expansion of stablecoins could introduce several additional challenges, including currency substitution risks and over-reliance on a limited number of dominant private issuers.

    This is not a situation we can accept passively. We need continuous efforts to enhance cross-border payments, in line with the G20 Roadmap.[1] And central banks, given their role in ensuring the smooth functioning of payment systems, have a major role to play. Significant work has already been undertaken at international level, notably by the Bank for International Settlements (BIS) and the Financial Stability Board (FSB).

    Today, I would like to share our experience with cross-border payments from a regional perspective, emphasising how regional payment infrastructures can be part of the solution. I will then discuss our vision for advancing cross-border payments at the global level.

    The case for enhancing cross-border retail payments

    Let me begin by underscoring the costs and risks of inaction.

    Over the past few decades, the world has witnessed a surge in cross-border payments, driven by the globalisation of trade, capital and migration flows. According to some estimates, the value of cross-border retail payments could grow from close to USD 200 trillion last year to USD 320 trillion by 2032.[2]

    Yet, the average cost of international retail payments remains high. For nearly one-quarter of global payment corridors, costs exceed 3%. And in too many cases, they are slow – one-third of retail cross-border payments took more than one business day to be settled in 2024.[3]

    Worryingly, there are signs that progress is stalling. The FSB’s 2024 progress report revealed no improvements in costs and noted a deterioration in both costs and speed compared with 2023.[4]

    Geopolitical tensions further compound these challenges, as they risk fragmenting global payment systems and undermining the rules-based international order. This could challenge established correspondent banking networks and lead to greater complexity, higher costs and, in a worst-case scenario, the splintering of the global payment system into multiple, non-communicating blocs.

    This raises three pressing issues.

    First, high costs and slow transaction times are hampering economic integration and growth, with small and medium-sized enterprises (SMEs) bearing the brunt. For SMEs operating on tight margins, exorbitant fees discourage them from participating in cross-border trade.

    Second, the world’s most vulnerable groups – such as migrant workers sending remittances home – shoulder a disproportionate share of these costs. In many regions, sending money internationally remains prohibitively expensive. For example, the average costs of remittances to sub-Saharan Africa and South Asia stand at 7.7% and 6.2% respectively.[5] As it stands, the global Sustainable Development Goal target of lowering remittance costs to 3% remains a distant goal. The impact that reducing these fees would have on financial inclusion and well-being cannot be overstated.

    Third, inefficiencies in cross-border payments have created a gap that alternative players, particularly in the crypto-asset space, are eager to fill. However, many of these solutions come with significant risks. Unbacked crypto-assets, for instance, are highly volatile and speculative in nature, creating risks for unsuspecting households and businesses and lending themselves to illicit activities.[6]

    Furthermore, stablecoins come with their own set of challenges, which the BIS described in detail in a special chapter of its Annual Economic Report published this week.[7] Stablecoins carry credit risk, making them susceptible to runs, and pose fragmentation risks due to the multitude of stablecoins being issued. Some of these could end up trading at a discount, undermining the singleness of money.[8] Moreover, because a small number of issuers currently dominate the market, this could also give rise to concentration risks. Lastly, a key concern is the prevalence of US dollar stablecoins, which currently account for 99% of the global stablecoin market.[9] These stablecoins provide an easy way to store value in dollars, considerably increasing the risk of currency substitution in the form of “digital dollarisation”.[10] This phenomenon could have destabilising effects, particularly on emerging markets and less developed economies by impairing the effectiveness of domestic monetary policy. It may also increase the risk of capital flight in response to adverse economic shocks.

    Enhancing cross-border retail payments at the regional and global level

    To address inefficiencies in cross-border payments, we must offer an alternative that connects various parts of the global payments system and delivers tangible benefits in terms of speed and cost. At the same time, this solution must respect the integrity, sovereignty and stability of all countries involved.

    At the ECB, we are pursuing this on two levels – regional and global.

    Regional cross-border payments: the European experience

    At the regional level, Europe serves as a compelling example of what an interconnected payments landscape might look like.

    Of course, this has been facilitated by the creation of a single European market and the establishment of a monetary union. One of the key reasons for creating the euro was to support trade and investment by facilitating cross-border transactions. And the launch of our single currency offered a first solution to pay throughout the euro area – in the form of euro cash.

    The logical next step was to develop European instruments for electronic euro payments. The Single Euro Payments Area (SEPA) emerged from close cooperation between the public and private sector to harmonise electronic euro transactions. As a result, individuals and businesses can make payments across the euro area at very low costs using credit transfers or direct debit.

    The success of SEPA led to its expansion beyond the euro area and even beyond the European Union. Today, customers in 41 European countries can make euro payments quickly, safely and efficiently via credit transfer and direct debit, just as they would for domestic transactions.

    We have also developed the TARGET Instant Payment Settlement (TIPS) service, which enables the settlement of instant payments across the euro area. Instant payments are further supported by a payment scheme – the SEPA Instant Credit Transfer scheme – that provides harmonised rules, standards and protocols. Moreover, EU legislation has made it mandatory for banks to allow their customers to send and receive instant payment at low cost.

    A key feature of TIPS is that it’s a multi-currency platform. Taking advantage of this, Sweden and Denmark are using TIPS to facilitate fast payments in their respective currencies.[11] Norway will do the same as of 2028.[12] Furthermore, we are implementing a cross-currency settlement service that will allow instant payments initiated in one TIPS currency to be settled in another. Initially, this service will support cross-currency payments between the euro area, Sweden and Denmark.[13]

    Within Europe, we are also supporting the Western Balkans in developing a regional fast payment system.[14] As a service provider for TIPS, the Banca d’Italia is collaborating with the central banks of Albania, Bosnia and Herzegovina, Kosovo and Montenegro to develop an instant, multi-currency payment system based on TIPS software. North Macedonia may join the initiative at a later stage.[15] The new platform will facilitate instant payments both within each participating country and across borders.

    Going global: interlinking fast payment systems

    This shows the potential for strengthening regional integration in payments. However, let me be clear: regional integration must not come at the expense of global connectivity. It should not be used as a means to sever ties with global payment networks.

    Our approach is that regional and global integration can go hand in hand through the interlinking of fast payment systems across regions and countries. Today, over 100 jurisdictions worldwide have implemented their own fast payment systems.[16] Interlinking these systems has the potential to address inefficiencies and build lasting connections that are rooted in trade openness and balanced relationships between partners.

    This approach offers several advantages. It would reduce costs, increase the speed and transparency of cross-border payments and shorten transaction chains. It would also enable payment service providers to conduct transactions without having to use multiple payment systems or a long chain of correspondent banks. Moreover, it would ensure that the platform for connecting and converting currencies is managed as a public good, thus avoiding closed loops and discriminatory pricing. Accordingly, the G20 Roadmap for Enhancing Cross-border Payments has identified interlinking as a key strategy for enhancing cross-border payments.[17] In this respect, the excellent work the Committee on Payments and Market Infrastructures (CPMI) is carrying out on payee verification could make a significant difference.

    Last October, the ECB’s Governing Council decided to take concrete steps towards interlinking TIPS with other fast payment systems to improve cross-border payments globally.[18]

    We will implement a cross-currency settlement service for the exchange of cross-border payments between TIPS and other fast payment systems worldwide.[19] This will allow us to explore interlinking TIPS with fast payment systems that have a compatible scheme, are interested in being involved and fully comply with the standards set by the Financial Action Task Force for combating money laundering and terrorist financing.

    In addition, we are exploring the possibility of creating bilateral and multilateral links with other fast payment systems.

    One possibility under consideration is connecting TIPS to a multilateral network of instant payment systems through Project Nexus, led by the BIS.[20] By joining Nexus, TIPS could serve as a hub for processing instant cross-border payments to and from the euro area and other countries that use TIPS.[21]

    We are also currently assessing the feasibility of creating a bilateral link between TIPS and India’s Unified Payments Interface[22], which handles the highest volume of instant payment transactions in the world[23].

    Interlinking fast payment systems has the potential to solve the shortcomings related to the messaging leg of cross-border transactions, by facilitating the message that the payer’s bank in country A sends to the payee’s bank in country B about the incoming transfer of funds. This would already go a long way towards improving the efficiency of cross-border payments.

    However, what interlinking does not fully resolve is the settlement leg, through which money moves from the payer’s to the payee’s account. This still requires a bank that has access to both payment systems that are interlinked, or a credit relationship between a bank in country A and a bank in country B. This is particularly challenging, given the increasing retrenchment of the correspondent banking model.

    In this context, we need to collectively exercise our creativity. I do not envisage a solution that could cover all possible corridors and use cases: there may be scope for tokenised forms of money, as well as a revival of the correspondent banking model, especially if we can reduce the associated risks.

    In the realm of sovereign money, jurisdictions could agree to use their respective central bank digital currencies as settlement assets. In this respect, the current draft legislation on the digital euro provides for an approach that respects the sovereignty of non-euro area countries and mitigates potential risks for them. It does so by opening the possibility for residents of a partner country to use the digital euro, subject to an agreement with that country, complemented by an arrangement between the ECB and the respective central bank.[24]

    Appropriate safeguards – such as individual holding limits for users – would ensure that the digital euro is used primarily as a means of payment and does not fuel currency substitution. Furthermore, the digital euro’s design would include multi-currency functionality, similar to that of TIPS. In practice, this means that non-euro area countries could use the digital euro infrastructure to offer their own digital currencies, thereby facilitating transactions across these currencies.

    Conclusion

    Let me conclude.

    We find ourselves at a pivotal moment for cross-border payments. If we want to make decisive progress and increase their efficiency, we need to work together to develop new solutions. We must, however, be aware of the risks that some of the alternatives on offer may pose.

    I would like to thank the BIS – and in particular the CPMI – for the active role they play in this area, not least by bringing us all together today, with representatives from A (Angola) to Z (Zambia). Each of us brings different needs and circumstances to the table. This raises two fundamental questions. What do we have in common? And what principles can guide our collective efforts?

    First, we must harness responsible innovation to solve persistent challenges while mitigating the risks I have noted today. Central banks – by ensuring the safety and integrity of payment systems – play an important role in this regard. And by interlinking fast payment systems and exploring the use of central bank digital currencies, we can address settlement inefficiencies while safeguarding monetary sovereignty and financial stability.

    Second, regional solutions can serve as a foundation for global progress. I have argued that regional payment integration can be an important part of the solution – provided it remains open to, and actively facilitates, interlinking at a global level. We firmly believe that this open, multi-currency interlinking approach can lay the groundwork for cheaper, faster and more transparent cross-border payments – without compromising the integrity, stability or sovereignty of the countries involved. By designing payment systems that are open, interoperable and multi-currency ready, we can ensure that regional initiatives contribute to global integration rather than fragmentation.

    Finally, collaboration is central to our collective success. Forums such as the CPMI community of practice, as well as today’s workshop, provide valuable opportunities for sharing knowledge and experiences. We will continue to find ways to work together to build resilient, inclusive and interconnected payment infrastructures that meet the needs of our people and economies. And we at the ECB remain committed to sharing our expertise and collaborating wherever we can add value.

    Thank you for your attention.

    MIL OSI Economics –

  • MIL-OSI Economics: Piero Cipollone: The quest for cheaper and faster cross-border payments: regional and global solutions

    Source: European Central Bank

    Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the BIS Annual General Meeting

    Basel, 27 June 2025

    Cross-border retail payments are the subject of increasing attention. This is for two main reasons.

    First, they play a growing role in the world economy, as international transaction volumes have been increasing at a faster pace than GDP growth. However, despite some improvements in recent years, many payment corridors remain poorly served, which results in slow transaction times and high costs and ultimately hinders economic growth and social cohesion. Moreover, this inefficiency undermines the benefits of globalisation, as the economic gains from lower trade barriers are diverted into rents within cross-border payment markets, rather than benefiting the businesses and households that make use of them.

    Second, new risks are emerging. Geopolitical tensions, for instance, could lead to further fragmentation of global payment systems. Moreover, the expansion of stablecoins could introduce several additional challenges, including currency substitution risks and over-reliance on a limited number of dominant private issuers.

    This is not a situation we can accept passively. We need continuous efforts to enhance cross-border payments, in line with the G20 Roadmap.[1] And central banks, given their role in ensuring the smooth functioning of payment systems, have a major role to play. Significant work has already been undertaken at international level, notably by the Bank for International Settlements (BIS) and the Financial Stability Board (FSB).

    Today, I would like to share our experience with cross-border payments from a regional perspective, emphasising how regional payment infrastructures can be part of the solution. I will then discuss our vision for advancing cross-border payments at the global level.

    The case for enhancing cross-border retail payments

    Let me begin by underscoring the costs and risks of inaction.

    Over the past few decades, the world has witnessed a surge in cross-border payments, driven by the globalisation of trade, capital and migration flows. According to some estimates, the value of cross-border retail payments could grow from close to USD 200 trillion last year to USD 320 trillion by 2032.[2]

    Yet, the average cost of international retail payments remains high. For nearly one-quarter of global payment corridors, costs exceed 3%. And in too many cases, they are slow – one-third of retail cross-border payments took more than one business day to be settled in 2024.[3]

    Worryingly, there are signs that progress is stalling. The FSB’s 2024 progress report revealed no improvements in costs and noted a deterioration in both costs and speed compared with 2023.[4]

    Geopolitical tensions further compound these challenges, as they risk fragmenting global payment systems and undermining the rules-based international order. This could challenge established correspondent banking networks and lead to greater complexity, higher costs and, in a worst-case scenario, the splintering of the global payment system into multiple, non-communicating blocs.

    This raises three pressing issues.

    First, high costs and slow transaction times are hampering economic integration and growth, with small and medium-sized enterprises (SMEs) bearing the brunt. For SMEs operating on tight margins, exorbitant fees discourage them from participating in cross-border trade.

    Second, the world’s most vulnerable groups – such as migrant workers sending remittances home – shoulder a disproportionate share of these costs. In many regions, sending money internationally remains prohibitively expensive. For example, the average costs of remittances to sub-Saharan Africa and South Asia stand at 7.7% and 6.2% respectively.[5] As it stands, the global Sustainable Development Goal target of lowering remittance costs to 3% remains a distant goal. The impact that reducing these fees would have on financial inclusion and well-being cannot be overstated.

    Third, inefficiencies in cross-border payments have created a gap that alternative players, particularly in the crypto-asset space, are eager to fill. However, many of these solutions come with significant risks. Unbacked crypto-assets, for instance, are highly volatile and speculative in nature, creating risks for unsuspecting households and businesses and lending themselves to illicit activities.[6]

    Furthermore, stablecoins come with their own set of challenges, which the BIS described in detail in a special chapter of its Annual Economic Report published this week.[7] Stablecoins carry credit risk, making them susceptible to runs, and pose fragmentation risks due to the multitude of stablecoins being issued. Some of these could end up trading at a discount, undermining the singleness of money.[8] Moreover, because a small number of issuers currently dominate the market, this could also give rise to concentration risks. Lastly, a key concern is the prevalence of US dollar stablecoins, which currently account for 99% of the global stablecoin market.[9] These stablecoins provide an easy way to store value in dollars, considerably increasing the risk of currency substitution in the form of “digital dollarisation”.[10] This phenomenon could have destabilising effects, particularly on emerging markets and less developed economies by impairing the effectiveness of domestic monetary policy. It may also increase the risk of capital flight in response to adverse economic shocks.

    Enhancing cross-border retail payments at the regional and global level

    To address inefficiencies in cross-border payments, we must offer an alternative that connects various parts of the global payments system and delivers tangible benefits in terms of speed and cost. At the same time, this solution must respect the integrity, sovereignty and stability of all countries involved.

    At the ECB, we are pursuing this on two levels – regional and global.

    Regional cross-border payments: the European experience

    At the regional level, Europe serves as a compelling example of what an interconnected payments landscape might look like.

    Of course, this has been facilitated by the creation of a single European market and the establishment of a monetary union. One of the key reasons for creating the euro was to support trade and investment by facilitating cross-border transactions. And the launch of our single currency offered a first solution to pay throughout the euro area – in the form of euro cash.

    The logical next step was to develop European instruments for electronic euro payments. The Single Euro Payments Area (SEPA) emerged from close cooperation between the public and private sector to harmonise electronic euro transactions. As a result, individuals and businesses can make payments across the euro area at very low costs using credit transfers or direct debit.

    The success of SEPA led to its expansion beyond the euro area and even beyond the European Union. Today, customers in 41 European countries can make euro payments quickly, safely and efficiently via credit transfer and direct debit, just as they would for domestic transactions.

    We have also developed the TARGET Instant Payment Settlement (TIPS) service, which enables the settlement of instant payments across the euro area. Instant payments are further supported by a payment scheme – the SEPA Instant Credit Transfer scheme – that provides harmonised rules, standards and protocols. Moreover, EU legislation has made it mandatory for banks to allow their customers to send and receive instant payment at low cost.

    A key feature of TIPS is that it’s a multi-currency platform. Taking advantage of this, Sweden and Denmark are using TIPS to facilitate fast payments in their respective currencies.[11] Norway will do the same as of 2028.[12] Furthermore, we are implementing a cross-currency settlement service that will allow instant payments initiated in one TIPS currency to be settled in another. Initially, this service will support cross-currency payments between the euro area, Sweden and Denmark.[13]

    Within Europe, we are also supporting the Western Balkans in developing a regional fast payment system.[14] As a service provider for TIPS, the Banca d’Italia is collaborating with the central banks of Albania, Bosnia and Herzegovina, Kosovo and Montenegro to develop an instant, multi-currency payment system based on TIPS software. North Macedonia may join the initiative at a later stage.[15] The new platform will facilitate instant payments both within each participating country and across borders.

    Going global: interlinking fast payment systems

    This shows the potential for strengthening regional integration in payments. However, let me be clear: regional integration must not come at the expense of global connectivity. It should not be used as a means to sever ties with global payment networks.

    Our approach is that regional and global integration can go hand in hand through the interlinking of fast payment systems across regions and countries. Today, over 100 jurisdictions worldwide have implemented their own fast payment systems.[16] Interlinking these systems has the potential to address inefficiencies and build lasting connections that are rooted in trade openness and balanced relationships between partners.

    This approach offers several advantages. It would reduce costs, increase the speed and transparency of cross-border payments and shorten transaction chains. It would also enable payment service providers to conduct transactions without having to use multiple payment systems or a long chain of correspondent banks. Moreover, it would ensure that the platform for connecting and converting currencies is managed as a public good, thus avoiding closed loops and discriminatory pricing. Accordingly, the G20 Roadmap for Enhancing Cross-border Payments has identified interlinking as a key strategy for enhancing cross-border payments.[17] In this respect, the excellent work the Committee on Payments and Market Infrastructures (CPMI) is carrying out on payee verification could make a significant difference.

    Last October, the ECB’s Governing Council decided to take concrete steps towards interlinking TIPS with other fast payment systems to improve cross-border payments globally.[18]

    We will implement a cross-currency settlement service for the exchange of cross-border payments between TIPS and other fast payment systems worldwide.[19] This will allow us to explore interlinking TIPS with fast payment systems that have a compatible scheme, are interested in being involved and fully comply with the standards set by the Financial Action Task Force for combating money laundering and terrorist financing.

    In addition, we are exploring the possibility of creating bilateral and multilateral links with other fast payment systems.

    One possibility under consideration is connecting TIPS to a multilateral network of instant payment systems through Project Nexus, led by the BIS.[20] By joining Nexus, TIPS could serve as a hub for processing instant cross-border payments to and from the euro area and other countries that use TIPS.[21]

    We are also currently assessing the feasibility of creating a bilateral link between TIPS and India’s Unified Payments Interface[22], which handles the highest volume of instant payment transactions in the world[23].

    Interlinking fast payment systems has the potential to solve the shortcomings related to the messaging leg of cross-border transactions, by facilitating the message that the payer’s bank in country A sends to the payee’s bank in country B about the incoming transfer of funds. This would already go a long way towards improving the efficiency of cross-border payments.

    However, what interlinking does not fully resolve is the settlement leg, through which money moves from the payer’s to the payee’s account. This still requires a bank that has access to both payment systems that are interlinked, or a credit relationship between a bank in country A and a bank in country B. This is particularly challenging, given the increasing retrenchment of the correspondent banking model.

    In this context, we need to collectively exercise our creativity. I do not envisage a solution that could cover all possible corridors and use cases: there may be scope for tokenised forms of money, as well as a revival of the correspondent banking model, especially if we can reduce the associated risks.

    In the realm of sovereign money, jurisdictions could agree to use their respective central bank digital currencies as settlement assets. In this respect, the current draft legislation on the digital euro provides for an approach that respects the sovereignty of non-euro area countries and mitigates potential risks for them. It does so by opening the possibility for residents of a partner country to use the digital euro, subject to an agreement with that country, complemented by an arrangement between the ECB and the respective central bank.[24]

    Appropriate safeguards – such as individual holding limits for users – would ensure that the digital euro is used primarily as a means of payment and does not fuel currency substitution. Furthermore, the digital euro’s design would include multi-currency functionality, similar to that of TIPS. In practice, this means that non-euro area countries could use the digital euro infrastructure to offer their own digital currencies, thereby facilitating transactions across these currencies.

    Conclusion

    Let me conclude.

    We find ourselves at a pivotal moment for cross-border payments. If we want to make decisive progress and increase their efficiency, we need to work together to develop new solutions. We must, however, be aware of the risks that some of the alternatives on offer may pose.

    I would like to thank the BIS – and in particular the CPMI – for the active role they play in this area, not least by bringing us all together today, with representatives from A (Angola) to Z (Zambia). Each of us brings different needs and circumstances to the table. This raises two fundamental questions. What do we have in common? And what principles can guide our collective efforts?

    First, we must harness responsible innovation to solve persistent challenges while mitigating the risks I have noted today. Central banks – by ensuring the safety and integrity of payment systems – play an important role in this regard. And by interlinking fast payment systems and exploring the use of central bank digital currencies, we can address settlement inefficiencies while safeguarding monetary sovereignty and financial stability.

    Second, regional solutions can serve as a foundation for global progress. I have argued that regional payment integration can be an important part of the solution – provided it remains open to, and actively facilitates, interlinking at a global level. We firmly believe that this open, multi-currency interlinking approach can lay the groundwork for cheaper, faster and more transparent cross-border payments – without compromising the integrity, stability or sovereignty of the countries involved. By designing payment systems that are open, interoperable and multi-currency ready, we can ensure that regional initiatives contribute to global integration rather than fragmentation.

    Finally, collaboration is central to our collective success. Forums such as the CPMI community of practice, as well as today’s workshop, provide valuable opportunities for sharing knowledge and experiences. We will continue to find ways to work together to build resilient, inclusive and interconnected payment infrastructures that meet the needs of our people and economies. And we at the ECB remain committed to sharing our expertise and collaborating wherever we can add value.

    Thank you for your attention.

    MIL OSI Economics –

  • MIL-OSI Economics: Working Group announces Small Business Champions, discusses digitalization and MC14 plan

    Source: World Trade Organization

    Small Business Champions

    The winners of the 2025 Small Business Champions Competition are Silaiwali (India), a company which empowers women artisans by upcycling waste fabric from garment factories into handcrafted products, and NetZero Pallets (Viet Nam), which specializes in converting biomass into carbon-neutral shipping pallet materials.

    The fifth edition of the competition was held under the theme “Completing the Loop: Helping Small Businesses Contribute to the Circular Economy.” It was jointly organized by the Informal Working Group on MSMEs, the International Trade Centre (ITC), the International Chamber of Commerce (ICC) and in partnership with UN Trade and Development (UNCTAD) for the first time.

    At the award ceremony, WTO Director-General Ngozi Okonjo-Iweala congratulated the winners and reiterated the vital role of MSMEs in global value chains and supply chains. She emphasized that small businesses are a bedrock of innovation and agility, and that the Small Business Champions Award reflects their invaluable contributions to sustainable development. She also stressed the importance of supporting MSMEs in times of uncertainty, as they often face significant trade barriers, particularly in accessing knowledge and finance. “They’re the ones that need the stability and predictability of the world trading system the most. We cannot do without their voice,” she said.

    ITC Executive Director Pamela Coke-Hamilton and ICC Secretary General John Denton also delivered opening remarks. Deputy Secretary-General of UNCTAD, Pedro Manuel Moreno, addressed the ceremony via video message. All three speakers reaffirmed their organizations’ commitment to fostering a supportive business ecosystem where MSMEs can thrive and actively contribute to the circular economy.

    The award ceremony can be watched here.

    Digitalization, other thematic issues

    Lively discussions focused on capacity building for MSMEs through digital transformation, with members and international organizations sharing experiences in helping small businesses reduce costs and improve efficiency.

    The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) introduced its Cross-Border Paperless Trade Database, developed with the International Chamber of Commerce (ICC), as a hub offering innovative resources and legal support. China presented its single-window customs platform designed to simplify cross-border procedures for MSMEs. The International Trade Centre (ITC) provided an update on its digital trade policy and regulatory work. It also outlined its work on the African Continental Free Trade Area (AfCFTA) through the “One Trade Africa” project, which supports African MSMEs in participating in trade. Georgia proposed a peer-learning session to explore how to scale up digital solutions and streamline regulations.

    Building on previous thematic sessions, members also discussed good regulatory practices (GRPs) and the informal sector. They emphasized the importance of ensuring interoperability between regulatory frameworks to facilitate MSME trade. Participants expressed support for continued dialogue on informal MSMEs and recommended monitoring relevant developments in other international forums.

    MC14 strategies, implementation of 2020 MSME Package

    Following discussions at the March meeting, the Coordinator, Ambassador Matthew Wilson of Barbados, proposed tentative outcomes and issues to be developed in the lead-up to MC14. Group members agreed to focus on a primary deliverable: a joint study report by the World Customs Organization, ICC and the WTO on the integration of MSMEs into Authorized Economic Operator (AEO) programmes (INF/MSME/W/62/Rev.2), as adopted by the Group in March.

    Additional outcomes will include the Coordinator’s reports summarizing the Group’s work between MC13 and MC14, a summary of exemplary small enterprises and a review of key findings from the thematic discussions.

    The MSME Group Coordinator announced new funding from the China Council for the Promotion of International Trade (CCPIT) and the Organization for Trade Development and Standards Cooperation (ODCCN) for the Trade4MSMEs website to ensure its operation for the next six years. This contribution has already enabled the translation of the website into Mandarin, thereby enhancing its accessibility to a broader international audience.

    In addition, members agreed to continue deliberating on a possible policy guidance document (a compendium) for good regulatory practices (GRPs). Further discussion is also planned on how to advance joint work with the Trade and Gender Initiative, particularly in improving access to finance for women-led MSMEs.

    The Group also reviewed progress in implementing its December 2020 MSME Package — a set of policy recommendations aimed at supporting MSMEs. Several members, along with the WTO Secretariat, provided updates on their respective actions in support of the package’s implementation.

    Strengthening engagement with private sector

    A special session open to the business community took place on 25 June. Small traders were invited to share their views on the impact of recent trade tensions on their businesses, their engagement in good regulatory practices, and other challenges they face.

    The Coordinator reflected on key takeaways from the constructive discussion. Businesses described a challenging landscape created by economic uncertainty and ongoing trade tensions, including regarding tariffs. They also noted benefits from newly implemented efficiencies and other significant challenges, especially in relation to planning and day-to-day operations.

    While good regulatory practice (GRP) initiatives exist, MSMEs reported that they are often not adequately informed or consulted. They also noted that GRPs tend to be fragmented and country-specific, lacking global harmonization. Small businesses further highlighted limited access to tariff and trade regulation information, lack of clarity regarding customs regulations, and high shipping costs as major trade obstacles. They called for easier access to tariff information and greater support from national authorities.

    Members welcomed the discussion and proposed further discussions on how to incorporate feedback from the business community into the Group’s future agenda.

    Next

    The next meeting of the Informal Working Group on MSMEs is scheduled for 3 October 2025.

    Share

    MIL OSI Economics –

  • MIL-OSI Economics: Agriculture negotiations Chair reports on prospects for progress ahead of MC14

    Source: WTO

    Headline: Agriculture negotiations Chair reports on prospects for progress ahead of MC14

    Ambassador Hussain told members he had held consultations on market access, domestic support and export restrictions on food as well as on food procurement at administered prices for developing economies’ public stockholding (PSH) programmes, and the proposed new Special Safeguard Mechanism (SSM), which would allow developing economies to raise duties temporarily in the event of a sudden surge in import volumes or price depression.
    The Chair reported that since the last meeting on 30 April, he had held 14 meetings where he explored with members several potential MC14 outcomes. These included: agreement on a framework for continued negotiations on outstanding topics; a political declaration reaffirming the value of existing disciplines and committing  to continue negotiations beyond MC14; recognition of progress made so far; and an agreement delivering early results for vulnerable WTO members facing food insecurity. These approaches could complement one another.
    “Overall, I was encouraged by the constructive tone and positive engagement throughout the consultations,” Ambassador Hussain said.
    He told the meeting that, despite the prevailing geopolitical tensions and challenges, there was broad support for advancing substantive work across all pillars. During his consultations, many members had underscored the importance of securing at least some concrete and meaningful outcomes as part of the MC14 package, he said.
    The Chair also noted that several delegations had emphasized the need to focus on realistic yet meaningful deliverables, and had cautioned that outcomes perceived as overly modest could risk further eroding confidence in the multilateral trading system.
    The Chair will continue his consultations on the various topics in different configurations, with the next consultation scheduled for 30 June with the cotton quad plus members, namely the C4+ cotton-producing countries (Benin, Chad, Burkina Faso, Mali and Côte d’Ivoire) and other key players in the negotiations related to the trade-related aspects of cotton.
    During the meeting, proponents of easing agricultural market access stressed the importance of  reducing and simplifying tariffs and other trade barriers in order to support economic development, food security and environmental sustainability. 
    Argentina, Brazil, Paraguay and Uruguay told participants that their November 2023 proposal JOB/AG/255 remains a substantive contribution to the talks, and that an MC14 outcome lacking progress on market access would be insufficient.
    Many members stressed that enhancing food security must remain a central objective in the negotiations. Some members also identified strengthening rural livelihoods and development — as well as promoting sustainable agriculture — as key priorities. Several members also reaffirmed the importance of a well-functioning multilateral rules-based trading system, emphasizing that it is essential for ensuring predictability and reducing costly uncertainty.
    The Cairns Group of agricultural exporting countries and the African Group updated participants on their continued consultations. which have mainly focused so far on domestic support to the farm sector. The consultations were being held in a constructive spirit, they said. The Cairns Group proposal  JOB/AG/243 and the African Group proposal JOB/AG/242 were serving as a basis for dialogue.
    Some members told the meeting that it was critical to also address the issue of export restrictions on food as part of the negotiations to enhance food security. These members also noted that elements from their previous submissions remained relevant for ongoing discussions. Other ideas for further work were also mentioned, such as looking to facilitate trade in agricultural products including by looking at cross-cutting issues, such as agriculture-related supporting services.
    Ambassador Hussain noted that several members prefer to continue engaging with one another informally before widening discussions to the membership as a whole. These members also recognized that broader participation would soon be necessary.
    Several delegations called for more technical, data-informed discussions, including expert-led side events, to advance dialogue on complex, cross-cutting issues.
    Members had also acknowledged that it was too early to define the contours of a potential outcome for MC14, the Chair said. Their general view was that process and substance must continue to evolve in tandem to keep options open and ambition credible. He added that, overall, members had advocated for a balanced approach to negotiations, emphasizing the need for a spirit of engagement and transparency and the importance of avoiding maximalist positions.
    Ambassador Hussain told the meeting he will continue to facilitate focused discussions. He will encourage members to explore innovative approaches, collaborate effectively, and report their progress to the full membership. Delegations could usefully share written contributions which could be adopted at MC14, he said.
    Public food stockholding and Special Safeguard Mechanism
    Members held dedicated sessions on the procurement of food at administered prices for public stocks in developing economies and on the proposed Special Safeguard Mechanism  to facilitate more focused discussions on both topics. The Chair reported on his recent consultations on public food stockholding and noted that open and frank exchanges remain essential to making meaningful progress on this key issue.
    “I continue to believe that progress is possible if we focus on bridging differences through constructive and solution-oriented dialogues,” he said. He also told participants that he plans to pursue consultations in various configurations over the coming weeks to explore pragmatic and effective ways forward.
    During the meeting, developing economies that call for fast-tracking action in this area highlighted the importance of revisiting WTO rules in order to address food insecurity and called for text-based negotiations. Some other members called for technical sessions to enhance understanding of the technical aspects of the issue as well as the proposal on the table. Some noted that they were open to discussing the food security challenges faced by developing economies.
    On the Special Safeguard Mechanism, while developing economy proponents of the safeguard continue to consider it ought to be adopted as a stand-alone tool, agricultural exporting economies argue it should be addressed in parallel with talks on reducing barriers to the export of agricultural goods.
    Ambassador Hussain reported that, during his consultations, proponents of this issue made suggestions on how to break the current impasse and move the discussions forward. These included holding thematic sessions and targeted group discussions on specific technical issues and pursuing an interim price-based safeguard mechanism.
    The Chair urged members to continue exploring ways that could help to bridge differences and result in substantive progress.
    “We need to work towards identifying a practical way forward that could facilitate a meaningful conversation on various technical elements of an SSM,” he said.
    Next meeting
    The next meeting, followed by the dedicated sessions on public food stockholding and the Special Safeguard Mechanism, is tentatively scheduled for 9-10 July.

    Share

    MIL OSI Economics –

  • MIL-OSI Economics: Agriculture negotiations Chair reports on prospects for progress ahead of MC14

    Source: WTO

    Headline: Agriculture negotiations Chair reports on prospects for progress ahead of MC14

    Ambassador Hussain told members he had held consultations on market access, domestic support and export restrictions on food as well as on food procurement at administered prices for developing economies’ public stockholding (PSH) programmes, and the proposed new Special Safeguard Mechanism (SSM), which would allow developing economies to raise duties temporarily in the event of a sudden surge in import volumes or price depression.
    The Chair reported that since the last meeting on 30 April, he had held 14 meetings where he explored with members several potential MC14 outcomes. These included: agreement on a framework for continued negotiations on outstanding topics; a political declaration reaffirming the value of existing disciplines and committing  to continue negotiations beyond MC14; recognition of progress made so far; and an agreement delivering early results for vulnerable WTO members facing food insecurity. These approaches could complement one another.
    “Overall, I was encouraged by the constructive tone and positive engagement throughout the consultations,” Ambassador Hussain said.
    He told the meeting that, despite the prevailing geopolitical tensions and challenges, there was broad support for advancing substantive work across all pillars. During his consultations, many members had underscored the importance of securing at least some concrete and meaningful outcomes as part of the MC14 package, he said.
    The Chair also noted that several delegations had emphasized the need to focus on realistic yet meaningful deliverables, and had cautioned that outcomes perceived as overly modest could risk further eroding confidence in the multilateral trading system.
    The Chair will continue his consultations on the various topics in different configurations, with the next consultation scheduled for 30 June with the cotton quad plus members, namely the C4+ cotton-producing countries (Benin, Chad, Burkina Faso, Mali and Côte d’Ivoire) and other key players in the negotiations related to the trade-related aspects of cotton.
    During the meeting, proponents of easing agricultural market access stressed the importance of  reducing and simplifying tariffs and other trade barriers in order to support economic development, food security and environmental sustainability. 
    Argentina, Brazil, Paraguay and Uruguay told participants that their November 2023 proposal JOB/AG/255 remains a substantive contribution to the talks, and that an MC14 outcome lacking progress on market access would be insufficient.
    Many members stressed that enhancing food security must remain a central objective in the negotiations. Some members also identified strengthening rural livelihoods and development — as well as promoting sustainable agriculture — as key priorities. Several members also reaffirmed the importance of a well-functioning multilateral rules-based trading system, emphasizing that it is essential for ensuring predictability and reducing costly uncertainty.
    The Cairns Group of agricultural exporting countries and the African Group updated participants on their continued consultations. which have mainly focused so far on domestic support to the farm sector. The consultations were being held in a constructive spirit, they said. The Cairns Group proposal  JOB/AG/243 and the African Group proposal JOB/AG/242 were serving as a basis for dialogue.
    Some members told the meeting that it was critical to also address the issue of export restrictions on food as part of the negotiations to enhance food security. These members also noted that elements from their previous submissions remained relevant for ongoing discussions. Other ideas for further work were also mentioned, such as looking to facilitate trade in agricultural products including by looking at cross-cutting issues, such as agriculture-related supporting services.
    Ambassador Hussain noted that several members prefer to continue engaging with one another informally before widening discussions to the membership as a whole. These members also recognized that broader participation would soon be necessary.
    Several delegations called for more technical, data-informed discussions, including expert-led side events, to advance dialogue on complex, cross-cutting issues.
    Members had also acknowledged that it was too early to define the contours of a potential outcome for MC14, the Chair said. Their general view was that process and substance must continue to evolve in tandem to keep options open and ambition credible. He added that, overall, members had advocated for a balanced approach to negotiations, emphasizing the need for a spirit of engagement and transparency and the importance of avoiding maximalist positions.
    Ambassador Hussain told the meeting he will continue to facilitate focused discussions. He will encourage members to explore innovative approaches, collaborate effectively, and report their progress to the full membership. Delegations could usefully share written contributions which could be adopted at MC14, he said.
    Public food stockholding and Special Safeguard Mechanism
    Members held dedicated sessions on the procurement of food at administered prices for public stocks in developing economies and on the proposed Special Safeguard Mechanism  to facilitate more focused discussions on both topics. The Chair reported on his recent consultations on public food stockholding and noted that open and frank exchanges remain essential to making meaningful progress on this key issue.
    “I continue to believe that progress is possible if we focus on bridging differences through constructive and solution-oriented dialogues,” he said. He also told participants that he plans to pursue consultations in various configurations over the coming weeks to explore pragmatic and effective ways forward.
    During the meeting, developing economies that call for fast-tracking action in this area highlighted the importance of revisiting WTO rules in order to address food insecurity and called for text-based negotiations. Some other members called for technical sessions to enhance understanding of the technical aspects of the issue as well as the proposal on the table. Some noted that they were open to discussing the food security challenges faced by developing economies.
    On the Special Safeguard Mechanism, while developing economy proponents of the safeguard continue to consider it ought to be adopted as a stand-alone tool, agricultural exporting economies argue it should be addressed in parallel with talks on reducing barriers to the export of agricultural goods.
    Ambassador Hussain reported that, during his consultations, proponents of this issue made suggestions on how to break the current impasse and move the discussions forward. These included holding thematic sessions and targeted group discussions on specific technical issues and pursuing an interim price-based safeguard mechanism.
    The Chair urged members to continue exploring ways that could help to bridge differences and result in substantive progress.
    “We need to work towards identifying a practical way forward that could facilitate a meaningful conversation on various technical elements of an SSM,” he said.
    Next meeting
    The next meeting, followed by the dedicated sessions on public food stockholding and the Special Safeguard Mechanism, is tentatively scheduled for 9-10 July.

    Share

    MIL OSI Economics –

  • MIL-OSI NGOs: Georgia: Crackdown on government critics deepens as another opposition politician is jailed

    Source: Amnesty International –

    Reacting to the jailing of yet another Georgian opposition figure, former lawmaker Giorgi (Givi) Targamadze, to seven months in prison for refusing to recognize the parliament’s legitimacy and appear before a parliamentary investigative committee, Denis Krivosheev, Amnesty International’s Deputy Director for Eastern Europe and Central Asia, said:

    “Summoning opposition figures before a parliamentary commission and arresting and imprisoning them for refusing to recognize its legitimacy raises serious concerns over the misuse of legislative, policing and other powers to silence government critics in Georgia.”

    “With its status disputed, the commission has been instrumentalized to target former public officials for their principled opposition. It has become a tool of political repression, not of parliamentary scrutiny, used to lock away political opponents ahead of local elections. The ruling party’s misuse of parliamentary structures is part of a broader crackdown on critics, which includes the arbitrary detention and persecution of activists and peaceful protesters and the suffocation of civil society through repressive legislation and unlawful demands.

    The ruling party’s misuse of parliamentary structures is part of a broader crackdown on critics

    Denis Krivosheev, Amnesty International’s Deputy Director for Eastern Europe and Central Asia

    “Authorities in Georgia must stop their relentless assault on dissent and targeting protesters and political activists for the peaceful exercise of their human rights, and release Givi Targamadze and the six other opposition members they have thrown behind bars in recent weeks. Authorities must halt practices that violate Georgia’s international human rights obligations. Authorities must uphold and ensure the human rights of everyone in the country.”

    Background

    On 27 June, Tbilisi City Court sentenced Giorgi (Givi) Targamadze to seven months in prison for “non-compliance” with a parliamentary commission led by the ruling Georgian Dream party. The commission purports to have been established to investigate alleged abuses by former government officials from the opposition United National Movement (UNM) party that ran the country from 2003 to 2012.

    Giorgi Targamadze is the seventh opposition figure to be arrested, and the fourth to be sentenced, under these proceedings in recent weeks, after Giorgi Vashadze received a seven-month prison sentence, and Mamuka Khazaradze, Badri Japaradze and Zurab Japaridze, were each sentenced to six months in prison. All of them have also been banned from holding public office for two years. Three other opposition figures – ex-UNM chair Nika Melia, former Justice and Defence ministers Nika Gvaramia and Irakli Okruashvili – are also currently in detention and standing trial under the same charges.

    Refusing to comply with a parliamentary commission can be punished by up to one year in prison or a fine under Georgian law. However, courts have so far imposed prison sentences only, in a string of cases which have targeted politicians who have challenged the legitimacy of the current parliament after disputed elections.

    MIL OSI NGO –

  • MIL-OSI NGOs: Japan: Execution is latest ‘callous attack on the right to life’

    Source: Amnesty International –

    In response to today’s execution in Japan of a man convicted of the murder of nine people, Chiara Sangiorgio, Death Penalty Advisor at Amnesty International, said:

    “The execution of Takahiro Shiraishi – the first in Japan in nearly three years – is the latest callous attack on the right to life in Japan and a major setback for the country’s human rights record.

    “Last year’s acquittal of Hakamada Iwao, formerly the world’s longest-serving death row prisoner, laid bare the unfairness of Japan’s criminal justice system and use of the death penalty and was an ideal opportunity to change course.

    “But instead of moving to reform and ensure full protection of human rights, the Government has chosen to resume executions. This is a significant setback to efforts to end the use of the death penalty in Japan.

    “As of today, 113 countries worldwide have completely abolished the death penalty in law, and more than 144 have abandoned it in law or practice, yet Japan continues to use this inhuman punishment.

    “The secrecy that continues to surround the notification of executions makes the use of this punishment in Japan additionally cruel. The Japanese authorities must immediately introduce a moratorium on executions as a first step towards abolishing the death penalty entirely — and commute all death sentences to terms of imprisonment.”

    Executions shrouded in secrecy

    Shiraishi was convicted in 2020 of killing nine people in 2017 by Tokyo District Court and sentenced to death.

    This is the first execution under Prime Minister Shigeru Ishiba and the first since July 2022.

    Executions in Japan are shrouded in secrecy, with prisoners typically given only a few hours’ notice and their families usually notified only after the execution has taken place.

    Japan is one of a small group of countries that has carried out executions in recent years. Amnesty recorded 1,518 executions in 15 countries in 2024 (excluding the thousands believed to have been carried out in China), an increase by 32% from the 1,153 recorded in 2023, largely driven by a spike in three countries in the Middle East: Iran, Iraq and Saudi Arabia. 

    On 26 September 2024, a long-awaited ruling was delivered by Shizuoka District Court to acquit Hakamada Iwao, described as the world’s longest-serving death row prisoner.

    Amnesty opposes the death penalty in all cases without exception regardless of the nature or circumstances of the crime, guilt, innocence or other characteristics of the individual, or the method used by the state to carry out the execution.

    MIL OSI NGO –

  • MIL-OSI NGOs: UK: ‘Superficial’ revisions to PIP bill ‘fail to stand up to human rights checks’

    Source: Amnesty International –

    Amnesty International UK has warned that the UK government’s revised welfare proposals remain fundamentally flawed and risk pushing thousands into poverty, particularly disabled people and those on low incomes. Amnesty is urging MPs not to make concessions on people’s human rights. 

    Despite proposed changes limiting certain cuts to the new Personal Independence Payment claimants, Amnesty says the Bill remains discriminatory and falls short of basic human rights standards.

    Jen Clark, Amnesty International UK’s Economic, Social and Cultural Rights Lead, said:

    “The revised changes to the PIP bill are nothing more than a superficial attempt to get MPs to vote through this cruel and harmful piece of legislation.

    “The new draft continues to fail on human rights checks – it will deepen poverty, entrench discrimination, and create a two-tier welfare system that cannot be justified under any circumstances.

    “Freezing or cutting benefits for new claimants doesn’t prevent poverty, it pushes more people into it, while entrenching income inequality across generations.

    “These proposals are not human rights compliant. They are being rushed through without proper scrutiny, transparency or engagement with those who stand to lose the most.

    “We urge MPs to stand firm against a Bill that continues to discriminate, harm, and marginalise.”

    Amnesty raised alarm over the following unresolved concerns in the Bill:

    • Cuts, freezes and eligibility changes will still push people into poverty, even if some are limited to new claimants.
    • A two-tier system is being created – an unjustifiable move that will deepen inequality, particularly for younger and future claimants in high areas of deprivation.
    • PIP assessments remain discriminatory and unfit for purpose, yet MPs are being asked to vote without any guarantees that the upcoming review will deliver meaningful change.
    • No meaningful consultation with disabled people, whose lives will be directly affected.
    • No published human rights impact assessment, and the partial assessments that exist are of poor quality.

    Poverty is a political choice: Amnesty is calling on all MPs to stand firm and reject the current version of the Bill and to demand a full human rights impact assessment, meaningful consultation with disabled people, and genuine reforms that reduce poverty rather than deepen it.

    View latest press releases

    MIL OSI NGO –

  • MIL-OSI NGOs: Greenpeace activists rebrand NZ bottom trawler “ocean killer” at sea

    Source: Greenpeace Statement –

    PACIFIC OCEAN, Saturday, 28 June 2025 – Greenpeace Aotearoa activists have confronted a bottom trawler in the South Pacific ocean, east of New Zealand, rebranding it “ocean killer”, after witnessing it haul in a net straining with marine life.

    Launching from the Greenpeace vessel Rainbow Warrior, activists came alongside the New Zealand-flagged ship, Talley’s Amaltal Atlantis, on the Chatham Rise[1] on Friday afternoon, and painted the message on its hull with non-toxic paint.

    Greenpeace Aotearoa activists confront the Talley’s bottom trawler Amatal Atlantis on the Chatham Rise, painting “ocean killer” on its hull to protest destructive bottom trawling. The Rainbow Warrior is off the coast of Aotearoa campaigning for an end to New Zealand’s destructive bottom trawling in New Zealand waters and the Tasman Sea.

    Speaking from onboard the Rainbow Warrior, Greenpeace Aotearoa spokesperson Juan Parada says: “Appalled by the most recent evidence of destruction, people defending the oceans rebranded this Talley’s vessel today to expose the bottom trawling industry for what they are: ocean killers. When Talley’s bottom trawlers drag their heavy trawl nets across the seafloor and over seamounts, they bulldoze everything in their path, including killing precious marine life from coral to fur seals, dolphins and seabirds.

    “We’ve all seen the shocking footage of bottom trawling in David Attenborough’s film Ocean, and it’s happening right here, right now.

    “Faced with a fishing industry that profits from trashing the ocean, and a government that condones bottom trawling, we’re proud of the peaceful action taken today to call out this destruction and demand that bottom trawling stop.

    The Amaltal Atlantis trawls in the waters of Aotearoa, and has previously received permits to trawl in the High Seas of the South Pacific. Their trail of destruction is wide and long-lasting,” says Parada.

    New Zealand is the only country still bottom trawling in the high seas of the Tasman, between Australia and New Zealand.

    The at-sea action comes just months after a deep sea expedition led by Greenpeace Aotearoa documented whole swathes of destroyed coral in areas of the Tasman Sea that have been intensively trawled by New Zealand bottom trawlers. This area has been earmarked for one of the first high seas ocean sanctuaries under the Global Ocean Treaty.

    Talley’s vessels trawl in Australian waters; the Amaltal Explorer has been trawling for endangered orange roughy off Tasmania, after being allowed back in Australia’s waters last year.  In 2018, the Amaltal Apollo trawled in a protected area on the Lord Howe Rise, in the international waters of the Tasman Sea between Australia and New Zealand. 

    Greenpeace Aotearoa activists confront the Talley’s bottom trawler Amatal Atlantis on the Chatham Rise, painting “ocean killer” on its hull to protest destructive bottom trawling. The Rainbow Warrior is off the coast of Aotearoa campaigning for an end to New Zealand’s destructive bottom trawling in New Zealand waters and the Tasman Sea.

    It also comes just weeks after Greenpeace Australia Pacific activists disrupted an industrial longliner between Australia and New Zealand, and revealed the devastating impacts of industrial fishing on marine life in the South Pacific.

    Greenpeace Australia Pacific is calling on the Australian government to ratify the Global Ocean Treaty and propose high seas marine protected areas, including large protected areas in the Tasman Sea.

    In a statement responding to the protest, Talley’s said it would seek legal action which “may include the arrest of the Rainbow Warrior.”

    —ENDS—

    Contacts:

    • Nick Young, Greenpeace Aotearoa: +64-21-707-727
    • Kimberley Bernard, Greenpeace Australia Pacific: +61 407 581 404 or [email protected]

    Photos and videos available for media on request

    Notes:

    • [1] The action took place in the Chatham Rise area, where it was recently revealed a New Zealand vessel dragged up six tonnes of coral in a single trawl.
    • The paint used to paint the hull is water based and non-toxic
    • In the period 1990 to 2004 the total area trawled in NZ waters was 465,100 square kilometres – almost double NZ’s land mass.

    MIL OSI NGO –

  • MIL-OSI USA: Murphy Joins Bill to Protect Striking Workers’ Health Care

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    June 27, 2025

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.) joined the Striking and Locked Out Workers Healthcare Protection Act, legislation introduced by U.S. Senators Ruben Gallego (D-Ariz.) and Tammy Baldwin (D-Wis.) to protect workers’ health care benefits and prevent retaliatory employers from using their power to cancel or alter health insurance for workers exercising their right to strike.
    “Cutting off health insurance is not some negotiating tactic for companies to bully striking workers into accepting a bad deal. It’s retaliation. I’m proud to stand with workers and support a bill that would make sure their health and their families’ health are never put at risk when fighting for better pay and working conditions,” said Murphy.
    The National Labor Relations Act (NLRA) established the right to strike as a protected activity, and employees cannot be fired for exercising that right. However, employers can, and often do, threaten to cut workers’ health care as a tactic to end strikes and intimidate workers. In many cases, this forces workers to decide whether they should exercise their right to strike or accept poor wages or working conditions in order to protect their health care for themselves and their families. 
    This legislation would create a separate unfair labor practice category for when employers cut or alter workers’ health insurance while they are on strike or locked out, and violators would be subject to increasing levels of civil penalties. Creating a new unfair labor practice would allow workers to bring cases with the NLRB when employers cancel or change their health coverage while they are on strike.
    In addition to Murphy, Gallego, and Baldwin, the bill is co-sponsored by U.S. Senators Richard Blumenthal (D-Conn.), Alex Padilla (D-Calif.), John Fetterman (D-Pa.), Dick Durbin (D-Ill.), Tina Smith (D-Minn.), Bernie Sanders (I-Vt.), Elizabeth Warren (D-Mass.), Sheldon Whitehouse (D-R.I.), Ed Markey (D-Mass.) and Chris Van Hollen (D-Md.).
    The legislation is supported by the AFL-CIO, United Steelworkers (USW), American Federation of Teachers (AFT), Service Employees International Union (SEIU), Teamsters, United Food and Commercial Workers International Union (UFCW), International Association of Machinists and Aerospace Workers (IAM), United Automobile, Aerospace & Agricultural Implement Workers of America (UAW), Communications Workers of America (CWA), United Mine Workers of America (UMWA), International Association of Iron Workers (IW), American Guild of Variety Artists (AGVA), Transport Workers Union (TWU), Association of Flight Attendants-CWA, National Education Association (NEA) International Association of Sheet Metal, Air, Rail, and Transportation Workers (SMART), Bakery, Confectionary, Tobacco Workers and Grain Millers (BCTGM), and NewsGuild-CWA.

    MIL OSI USA News –

  • MIL-OSI USA: Murphy Joins Bill to Protect Striking Workers’ Health Care

    US Senate News:

    Source: United States Senator for Connecticut – Chris Murphy

    June 27, 2025

    WASHINGTON—U.S. Senators Chris Murphy (D-Conn.) joined the Striking and Locked Out Workers Healthcare Protection Act, legislation introduced by U.S. Senators Ruben Gallego (D-Ariz.) and Tammy Baldwin (D-Wis.) to protect workers’ health care benefits and prevent retaliatory employers from using their power to cancel or alter health insurance for workers exercising their right to strike.
    “Cutting off health insurance is not some negotiating tactic for companies to bully striking workers into accepting a bad deal. It’s retaliation. I’m proud to stand with workers and support a bill that would make sure their health and their families’ health are never put at risk when fighting for better pay and working conditions,” said Murphy.
    The National Labor Relations Act (NLRA) established the right to strike as a protected activity, and employees cannot be fired for exercising that right. However, employers can, and often do, threaten to cut workers’ health care as a tactic to end strikes and intimidate workers. In many cases, this forces workers to decide whether they should exercise their right to strike or accept poor wages or working conditions in order to protect their health care for themselves and their families. 
    This legislation would create a separate unfair labor practice category for when employers cut or alter workers’ health insurance while they are on strike or locked out, and violators would be subject to increasing levels of civil penalties. Creating a new unfair labor practice would allow workers to bring cases with the NLRB when employers cancel or change their health coverage while they are on strike.
    In addition to Murphy, Gallego, and Baldwin, the bill is co-sponsored by U.S. Senators Richard Blumenthal (D-Conn.), Alex Padilla (D-Calif.), John Fetterman (D-Pa.), Dick Durbin (D-Ill.), Tina Smith (D-Minn.), Bernie Sanders (I-Vt.), Elizabeth Warren (D-Mass.), Sheldon Whitehouse (D-R.I.), Ed Markey (D-Mass.) and Chris Van Hollen (D-Md.).
    The legislation is supported by the AFL-CIO, United Steelworkers (USW), American Federation of Teachers (AFT), Service Employees International Union (SEIU), Teamsters, United Food and Commercial Workers International Union (UFCW), International Association of Machinists and Aerospace Workers (IAM), United Automobile, Aerospace & Agricultural Implement Workers of America (UAW), Communications Workers of America (CWA), United Mine Workers of America (UMWA), International Association of Iron Workers (IW), American Guild of Variety Artists (AGVA), Transport Workers Union (TWU), Association of Flight Attendants-CWA, National Education Association (NEA) International Association of Sheet Metal, Air, Rail, and Transportation Workers (SMART), Bakery, Confectionary, Tobacco Workers and Grain Millers (BCTGM), and NewsGuild-CWA.

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 2444, Promoting Resilient Supply Chains Act of 2025

    Source: US Congressional Budget Office

    H.R. 2444 would require the Department of Commerce to assess and prepare for disruptions to supply chains for goods that are critical to national or economic security. H.R. 2444 would establish an interagency working group to identify actions that the federal government can take to mitigate the economic effects of incidents that cause gaps in manufacturing, warehousing, transportation, and distribution networks for those critical goods. The department would need to report annually to the Congress on the effectiveness of its efforts.

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 2458, Secure Space Act of 2025

    Source: US Congressional Budget Office

    H.R. 2458 would prohibit the FCC from issuing licenses or granting access to U.S. markets to entities that control orbiting satellite systems or Earth stations that are connected to orbiting satellite systems and that pose a risk to national security.

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 2449, FUTURE Networks Act

    Source: US Congressional Budget Office

    H.R. 2449 would require the FCC to establish a task force on sixth-generation (6G) wireless technology. The task force would report to the Congress on issues, including the status of 6G standards-setting bodies; the uses and limitations of 6G technology; and how federal, state, and local governments could use that technology. Using information from the FCC, CBO estimates that implementing H.R. 2449 would cost less than $500,000 over the 2025-2030 period. However, because the FCC is authorized to collect fees each year sufficient to offset the appropriated costs of its regulatory activities, CBO estimates that the net cost to the FCC would be negligible, assuming appropriation actions consistent with that authority.

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 2481, Romance Scam Prevention Act

    Source: US Congressional Budget Office

    H.R. 2481 would impose intergovernmental and private-sector mandates, but CBO estimates that the costs to comply with those mandates would not exceed the thresholds established in UMRA ($103 million and $206 million in 2025, respectively, adjusted annually for inflation).

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 2481, Romance Scam Prevention Act

    Source: US Congressional Budget Office

    H.R. 2481 would impose intergovernmental and private-sector mandates, but CBO estimates that the costs to comply with those mandates would not exceed the thresholds established in UMRA ($103 million and $206 million in 2025, respectively, adjusted annually for inflation).

    MIL OSI USA News –

  • MIL-OSI USA: H.R. 2480, Securing Semiconductor Supply Chains Act of 2025

    Source: US Congressional Budget Office

    H.R. 2480 would direct the Department of Commerce, through its SelectUSA program, to solicit comments from economic development organizations in the states about how to support foreign direct investment in semiconductor production in the United States. H.R. 2480 also would require the department to report to the Congress on strategies that SelectUSA could implement to increase such investment.

    MIL OSI USA News –

  • MIL-OSI USA: FDA Eliminates Risk Evaluation and Mitigation Strategies (REMS) for Autologous Chimeric Antigen Receptor CAR T cell Immunotherapies

    Source: US Department of Health and Human Services – 3

    For Immediate Release:
    June 27, 2025

    The U.S. Food and Drug Administration announced today that it has eliminated the Risk Evaluation and Mitigation Strategies (REMS) for currently approved BCMA- and CD19-directed autologous chimeric antigen receptor CAR T cell immunotherapies.  
    These products are gene therapies that are currently approved to treat blood cancers, such as multiple myeloma and certain types of leukemia and lymphoma.
    “The FDA has taken the bold step to remove the Risk Evaluation and Mitigation Strategy requirement from giving CAR T therapies. REMS is a useful safety system, but reevaluation over time helps inform whether a REMS is still needed to ensure that the benefits of a product outweigh its risks,” said FDA Vinay Prasad, M.D., M.P.H., Chief Medical and Scientific Officer and Director, Center for Biologics Evaluation and Research. “Eliminating the REMS that is no longer needed also expedites the delivery of potentially curative treatments to patients and reduces burden on providers.”
    A REMS is a safety program that the FDA can require for certain medications with serious safety concerns to help ensure the benefits of the medication outweigh its risks.
    The FDA determined that the approved REMS for the following products should be eliminated because a REMS is no longer necessary to ensure that the benefits of the autologous CAR T cell immunotherapies outweigh their risks.  

    Abecma (idecabtagene vicleucel)
    Breyanzi (lisocabtagene maraleucel)
    Carvykti (ciltacabtagene autoleucel)
    Kymriah (tisagenlecleucel)
    Tecartus (brexucabtagene autoleucel)
    Yescarta (axicabtagene ciloleucel)

    The elimination of REMS for the above products removes the requirements that hospitals and their associated clinics that dispense products must be specially certified and have on-site, immediate access to tocilizumab. The information regarding the risks for these CAR T cell immunotherapies can be conveyed adequately via the current product labeling, which includes a boxed warning for the risks of cytokine release syndrome and neurological toxicities, and medication guides.
    “Physicians and institutions now have greater experience identifying and managing toxicities with the currently approved CAR T products,” said Richard Pazdur, M.D., FDA Oncology Center of Excellence Director. “This approach will potentially facilitate patient access to these treatments while continuing to prioritize safety.”
    Continuous monitoring and assessment of the safety of all biological products, including the CAR T cell immunotherapies, is an FDA priority and we remain committed to informing the public when we learn new information about these products.
    These products will continue to be subject to safety monitoring, through adverse event reporting requirements in accordance with regulations (21 CFR 600.80). The elimination of the REMS for these products does not change FDA requirements for manufacturers to conduct post marketing observational safety studies to assess the risk of secondary malignancies and long-term safety with follow up of patients for 15 years after product administration.
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    MIL OSI USA News –

  • MIL-OSI USA: NASA Announces Winners of 2025 Human Lander Challenge

    Source: NASA

    NASA’s Human Lander Challenge marked its second year on June 26, awarding $18,000 in prize money to three university teams for their solutions for long-duration cryogenic, or super chilled, liquid storage and transfer systems for spaceflight.
    Building on the crewed Artemis II flight test, NASA’s Artemis III mission will send astronauts to explore the lunar South Pole region with a human landing system and advanced spacesuits, preparing humanity to ultimately go to Mars. In-space propulsion systems that use cryogenic liquids as propellants must stay extremely cold to remain in a liquid state and are critical to mission success. The Artemis mission architecture will need these systems to function for several weeks or even months.

    NASA announced Embry-Riddle Aeronautical University, Prescott as the overall winner and recipient of the $10,000 top prize award. Old Dominion University won second place and a $5,000 award, followed by Massachusetts Institute of Technology in third place and a $3,000 award.
    Before the winners were announced, 12 finalist teams selected in April gave their presentations to a panel of NASA and industry judges as part of the final competition in Huntsville. As part of the 2025 Human Lander Challenge, university teams developed systems-level solutions that could be used within the next 3-5 years for Artemis.

    “Today’s Golden Age of Innovation and Exploration students are tomorrow’s mission designers, systems engineers, and explorers,” said Juan Valenzuela, main propulsion systems and cryogenic fluid management subsystems lead for NASA’s Human Landing System Program at NASA’s Marshall Space Flight Center in Huntsville, Alabama. “The Human Lander Challenge concepts at this year’s forum demonstrate the ingenuity, passion, and determination NASA and industry need to help solve long-duration cryogenic storage challenges to advance human exploration to deep space.”
    The challenge is sponsored by the agency’s Human Landing System Program within the Exploration Systems Development Mission Directorate and managed by the National Institute of Aerospace.
    Through the Artemis campaign, NASA will send astronauts to explore the Moon for scientific discovery, economic benefits, and to build the foundation for the first crewed missions to Mars – for the benefit of all.
    For more information about Artemis missions, visit:
    https://www.nasa.gov/artemis

    Corinne Beckinger Marshall Space Flight Center, Huntsville, Ala. 256.544.0034  corinne.m.beckinger@nasa.gov 

    MIL OSI USA News –

  • MIL-OSI USA: NASA Announces Winners of 2025 Human Lander Challenge

    Source: NASA

    NASA’s Human Lander Challenge marked its second year on June 26, awarding $18,000 in prize money to three university teams for their solutions for long-duration cryogenic, or super chilled, liquid storage and transfer systems for spaceflight.
    Building on the crewed Artemis II flight test, NASA’s Artemis III mission will send astronauts to explore the lunar South Pole region with a human landing system and advanced spacesuits, preparing humanity to ultimately go to Mars. In-space propulsion systems that use cryogenic liquids as propellants must stay extremely cold to remain in a liquid state and are critical to mission success. The Artemis mission architecture will need these systems to function for several weeks or even months.

    NASA announced Embry-Riddle Aeronautical University, Prescott as the overall winner and recipient of the $10,000 top prize award. Old Dominion University won second place and a $5,000 award, followed by Massachusetts Institute of Technology in third place and a $3,000 award.
    Before the winners were announced, 12 finalist teams selected in April gave their presentations to a panel of NASA and industry judges as part of the final competition in Huntsville. As part of the 2025 Human Lander Challenge, university teams developed systems-level solutions that could be used within the next 3-5 years for Artemis.

    “Today’s Golden Age of Innovation and Exploration students are tomorrow’s mission designers, systems engineers, and explorers,” said Juan Valenzuela, main propulsion systems and cryogenic fluid management subsystems lead for NASA’s Human Landing System Program at NASA’s Marshall Space Flight Center in Huntsville, Alabama. “The Human Lander Challenge concepts at this year’s forum demonstrate the ingenuity, passion, and determination NASA and industry need to help solve long-duration cryogenic storage challenges to advance human exploration to deep space.”
    The challenge is sponsored by the agency’s Human Landing System Program within the Exploration Systems Development Mission Directorate and managed by the National Institute of Aerospace.
    Through the Artemis campaign, NASA will send astronauts to explore the Moon for scientific discovery, economic benefits, and to build the foundation for the first crewed missions to Mars – for the benefit of all.
    For more information about Artemis missions, visit:
    https://www.nasa.gov/artemis

    Corinne Beckinger Marshall Space Flight Center, Huntsville, Ala. 256.544.0034  corinne.m.beckinger@nasa.gov 

    MIL OSI USA News –