Category: DJF

  • MIL-OSI Security: Parkersburg Man Pleads Guilty to Federal Drug Crime

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

    CHARLESTON, W.Va. – Aaron Lee Mitter, 39, of Parkersburg, pleaded guilty today to distribution of a quantity of methamphetamine.

    According to court documents and statements made in court, on July 11, 2024, Mitter sold approximately 24.52 grams of methamphetamine to a confidential informant in exchange for $280. As part of his guilty plea, Mitter admitted to the transaction. Mitter further admitted to selling an unregistered privately made firearm, commonly known as a “ghost gun,” and a magazine capable of holding 45 rounds of ammunition that day for $400.

    On July 17, 2024, law enforcement officers executed a search warrant at a Parkersburg apartment where Mitter was staying at the time. Officers seized approximately 45.67 grams of methamphetamine in the apartment during the search. Mitter admitted that he intended to use some of the seized methamphetamine and distribute the rest.

    Mitter is scheduled to be sentenced on September 22, 2025, and faces a maximum penalty of 20 years in prison, at least three years of supervised release, and a $1 million fine.

    Acting United States Attorney Lisa G. Johnston made the announcement and commended the investigative work of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the Wood County Sheriff’s Office, and the Parkersburg Police Department.

    United States District Judge Joseph R. Goodwin presided over the hearing. Assistant United States Attorney JC MacCallum is prosecuting the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 2:24-cr-182.

    ###

     

    MIL Security OSI

  • MIL-OSI Security: Parkersburg Man Pleads Guilty to Federal Drug Crime

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

    CHARLESTON, W.Va. – Aaron Lee Mitter, 39, of Parkersburg, pleaded guilty today to distribution of a quantity of methamphetamine.

    According to court documents and statements made in court, on July 11, 2024, Mitter sold approximately 24.52 grams of methamphetamine to a confidential informant in exchange for $280. As part of his guilty plea, Mitter admitted to the transaction. Mitter further admitted to selling an unregistered privately made firearm, commonly known as a “ghost gun,” and a magazine capable of holding 45 rounds of ammunition that day for $400.

    On July 17, 2024, law enforcement officers executed a search warrant at a Parkersburg apartment where Mitter was staying at the time. Officers seized approximately 45.67 grams of methamphetamine in the apartment during the search. Mitter admitted that he intended to use some of the seized methamphetamine and distribute the rest.

    Mitter is scheduled to be sentenced on September 22, 2025, and faces a maximum penalty of 20 years in prison, at least three years of supervised release, and a $1 million fine.

    Acting United States Attorney Lisa G. Johnston made the announcement and commended the investigative work of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the Wood County Sheriff’s Office, and the Parkersburg Police Department.

    United States District Judge Joseph R. Goodwin presided over the hearing. Assistant United States Attorney JC MacCallum is prosecuting the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Southern District of West Virginia. Related court documents and information can be found on PACER by searching for Case No. 2:24-cr-182.

    ###

     

    MIL Security OSI

  • MIL-OSI Security: Rockford Man Sentenced to More Than Six Years in Prison on Drug Trafficking and Firearm Charges

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

    ROCKFORD — A Rockford man has been sentenced to more than six years in federal prison for possessing with the intent to distribute cocaine and methamphetamine and possessing a loaded firearm in furtherance of his drug trafficking activities. 

    JOVINO RAMIREZ, 35, pleaded guilty earlier this year to knowingly and intentionally possessing cocaine and methamphetamine with the intent to distribute, and possessing a loaded handgun in furtherance of his drug trafficking crime. On Monday, U.S. District Judge Iain D. Johnston sentenced Ramirez to 78 months in federal prison.

    Ramirez admitted in a plea agreement that following a traffic stop in May 2024 he was in possession of a bag containing 19.1 grams of cocaine and 1.9 grams of methamphetamine, which he tried to conceal during his encounter with the police.  He also possessed a loaded handgun beneath the driver’s seat of his vehicle.  Ramirez admitted he intended to sell the cocaine that he possessed.

    The sentence was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and Christopher C. Amon, Special Agent-in-Charge of the Chicago Field Division of the U.S. Bureau of Alcohol, Tobacco, Firearms & Explosives.  The Illinois State Police provided assistance in the investigation.  The government was represented by Assistant U.S. Attorneys Andrew M. Rosati and Lisa R. Munch.

    Holding illegal firearm possessors accountable through federal prosecution is a centerpiece of Project Safe Neighborhoods (PSN). In the Northern District of Illinois, the U.S. Attorney’s Office and law enforcement partners have deployed the PSN program to attack a broad range of violent crime issues facing the district, particularly firearm offenses. 

    MIL Security OSI

  • MIL-OSI Security: Rockford Man Sentenced to More Than Six Years in Prison on Drug Trafficking and Firearm Charges

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

    ROCKFORD — A Rockford man has been sentenced to more than six years in federal prison for possessing with the intent to distribute cocaine and methamphetamine and possessing a loaded firearm in furtherance of his drug trafficking activities. 

    JOVINO RAMIREZ, 35, pleaded guilty earlier this year to knowingly and intentionally possessing cocaine and methamphetamine with the intent to distribute, and possessing a loaded handgun in furtherance of his drug trafficking crime. On Monday, U.S. District Judge Iain D. Johnston sentenced Ramirez to 78 months in federal prison.

    Ramirez admitted in a plea agreement that following a traffic stop in May 2024 he was in possession of a bag containing 19.1 grams of cocaine and 1.9 grams of methamphetamine, which he tried to conceal during his encounter with the police.  He also possessed a loaded handgun beneath the driver’s seat of his vehicle.  Ramirez admitted he intended to sell the cocaine that he possessed.

    The sentence was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and Christopher C. Amon, Special Agent-in-Charge of the Chicago Field Division of the U.S. Bureau of Alcohol, Tobacco, Firearms & Explosives.  The Illinois State Police provided assistance in the investigation.  The government was represented by Assistant U.S. Attorneys Andrew M. Rosati and Lisa R. Munch.

    Holding illegal firearm possessors accountable through federal prosecution is a centerpiece of Project Safe Neighborhoods (PSN). In the Northern District of Illinois, the U.S. Attorney’s Office and law enforcement partners have deployed the PSN program to attack a broad range of violent crime issues facing the district, particularly firearm offenses. 

    MIL Security OSI

  • MIL-OSI Security: Billings man pleads guilty to illegal possession of firearm

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

    BILLINGS – A Billings man accused of illegally possessing a firearm admitted to charges today, U.S. Attorney Kurt Alme said.

    The defendant, Damian Andrew Roman, 26, pleaded guilty to prohibited person in possession of a firearm. Roman faces 15 years imprisonment, a $250,000 fine and 3 years of supervised release.

    U.S. Magistrate Judge Timothy J. Cavan presided. U.S. District Court Judge Susan P. Watters will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. Sentencing will be set at a later time. Roman was detained pending further proceedings.

    The government alleged in court documents that Damien Andrew Roman was convicted in 2021 of two felony offenses in the United States District Court for the District of Montana. These convictions prohibit his possession of firearms or ammunition.

    On December 18, 2024, Damian Roman was driving a car that got into a crash in Billings. Before law enforcement arrived at the crash, an eyewitness saw Roman throw a bag over a nearby fence. Responding officers walked along the fence line and found a brown Louis Vuitton bag. Inside the bag was a Glock, Model 48, 9mm caliber pistol loaded with an extended magazine with eighteen (18) rounds of 9mm caliber ammunition.

    ATF subsequently ran a check on the firearm and determined it was originally purchased by Roman’s family member. Law enforcement conducted a fingerprint analysis of the firearm and located a partial print on the magazine that was inserted into the firearm. The print was positively identified as belonging to Roman.

    The U.S. Attorney’s Office prosecuted the case. The ATF and Billings Police Department conducted the investigation.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

    XXX

    MIL Security OSI

  • MIL-OSI Security: Billings man pleads guilty to illegal possession of firearm

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

    BILLINGS – A Billings man accused of illegally possessing a firearm admitted to charges today, U.S. Attorney Kurt Alme said.

    The defendant, Damian Andrew Roman, 26, pleaded guilty to prohibited person in possession of a firearm. Roman faces 15 years imprisonment, a $250,000 fine and 3 years of supervised release.

    U.S. Magistrate Judge Timothy J. Cavan presided. U.S. District Court Judge Susan P. Watters will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. Sentencing will be set at a later time. Roman was detained pending further proceedings.

    The government alleged in court documents that Damien Andrew Roman was convicted in 2021 of two felony offenses in the United States District Court for the District of Montana. These convictions prohibit his possession of firearms or ammunition.

    On December 18, 2024, Damian Roman was driving a car that got into a crash in Billings. Before law enforcement arrived at the crash, an eyewitness saw Roman throw a bag over a nearby fence. Responding officers walked along the fence line and found a brown Louis Vuitton bag. Inside the bag was a Glock, Model 48, 9mm caliber pistol loaded with an extended magazine with eighteen (18) rounds of 9mm caliber ammunition.

    ATF subsequently ran a check on the firearm and determined it was originally purchased by Roman’s family member. Law enforcement conducted a fingerprint analysis of the firearm and located a partial print on the magazine that was inserted into the firearm. The print was positively identified as belonging to Roman.

    The U.S. Attorney’s Office prosecuted the case. The ATF and Billings Police Department conducted the investigation.

    This case is part of Project Safe Neighborhoods (PSN), a program bringing together all levels of law enforcement and the communities they serve to reduce violent crime and gun violence, and to make our neighborhoods safer for everyone. On May 26, 2021, the Department launched a violent crime reduction strategy strengthening PSN based on these core principles: fostering trust and legitimacy in our communities, supporting community-based organizations that help prevent violence from occurring in the first place, setting focused and strategic enforcement priorities, and measuring the results. For more information about Project Safe Neighborhoods, please visit Justice.gov/PSN.

    XXX

    MIL Security OSI

  • MIL-OSI Security: California Man Guilty of Conspiracy to Commit Interstate Transportation of Stolen Property and Interstate Transportation of Stolen Property from Metairie Business

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

    NEW ORLEANS, LOUISIANA – Acting United States Attorney Michael M. Simpson announced that JAMES BLOCKER (“JAMES BLOCKER”), a California resident, pled guilty on June 12, 2025, to the indictment charging him with conspiracy to commit interstate transportation of stolen goods, in violation of Title 18, United States Code, Section 371 (Count 1), and interstate transportation of stolen goods, in violation of Title 18, United States Code, Section 2314 (Count 2).

    According to the indictment, JAMES BLOCKER, and others, conspired to transport cigarettes that were stolen during a burglary at the Imperial Trading Company in New Orleans on November 21, 2024.  The group then traveled out of state, before being apprehended in Fort Stockton, Texas the following day while in possession of the cigarettes.  The group was further implicated in similar burglaries in North Carolina and Texas in February of 2024.

    For Count 1, JAMES BLOCKER faces up to 10 years imprisonment, up to a $250,000 fine, up to 3 years of supervised release, and a mandatory $100 special assessment fee.  As to Count 2, JAMES BLOCKER faces up to 10 years of imprisonment, up to 3 years of supervised release, up to a $250,000 fine, and a mandatory $100 special assessment fee.

    Acting U.S. Attorney Simpson praised the work of the Department of Alcohol, Tobacco, and Firearms; the Jefferson Parish Sherriff’s Office, the Knightdale Police Department, the Atlanta Police Department, the Rockmart Police Department, the Texas Department of Public Safety, and the Fort Stockton Police Department, in investigating this matter.  Assistant United States Attorney Paul J. Hubbell of the General Crimes Unit is in charge of the prosecution.

    MIL Security OSI

  • MIL-OSI Economics: BIS media briefing – The next-generation monetary and financial system

    Source: Bank for International Settlements

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    BIS speech  | 

    23 June 2025

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  • Emergency was imposed to protect power, not nation: Amit Shah

    Source: Government of India

    Source: Government of India (4)

    Union Home Minister Amit Shah on Tuesday described June 25, 1975 — the day Emergency was imposed in India — as the “murder of the Constitution,” and said the nation must remember it not merely as a chapter in history, but as a warning for future generations.

    Speaking at an event in New Delhi to mark the 50th anniversary of the Emergency, now officially observed as Samvidhan Hatya Diwas, Shah said democratic institutions were silenced and individual freedoms suppressed “to protect one leader’s hold on power.” He added that forgetting the Emergency would be a mistake, and that younger generations need to know how institutions were silenced and rights curtailed “in the name of national security.”

    “Usually, bad incidents should be forgotten. But when it comes to national life, such incidents should be remembered forever — so that they’re never repeated,” Shah said, addressing the event in New Delhi as chief guest.

    The event was also attended by Union Minister Ashwini Vaishnaw, Delhi’s Lieutenant Governor V K Saxena, and Delhi Chief Minister Rekha Gupta, among others.

    The home minister referred to the night of June 24, 1975, when then Prime Minister Indira Gandhi imposed a state of Emergency across India. He said the justification offered — a threat to national security — was a smokescreen to protect the Prime Minister’s hold on power.

    “On June 12, the Allahabad High Court had struck down the PM’s election. That same day, the Janata Morcha won in Gujarat. The Emergency was declared just days later. The world knows today — it was not national security that was in danger, it was the Prime Minister’s position,” Shah said.

    The Constitution, which had been carefully drafted over three years by Dr B R Ambedkar and others, was rendered meaningless by a single sentence: “The President has declared Emergency”, the home minister stressed.

    Detailing the measures taken during the Emergency, Shah cited the Shah Commission’s findings and said India had been turned into a prison. According to him, over 1.1 lakh political workers and social activists were jailed, 253 journalists arrested, 29 foreign correspondents expelled, and widespread censorship was enforced — even in Parliament.

    “All India Radio was censored. Electricity to newspaper offices was cut. Papers like The Indian Express and Jansatta protested by leaving editorial spaces blank,” Shah said, adding that “judges who ruled against the government were punished,” and that films, actors, and even songs were banned if they were seen as critical of the regime.

    Artists including Kishore Kumar, Dev Anand, and Manoj Kumar were targeted. Films such as Aandhi and Kissa Kursi Ka were banned. Parliamentary debates were censored, and the judiciary “brought under control,” he said.

    Shah said a Cabinet meeting was convened at 4 a.m. on June 25, without an agenda, to formalize the imposition of Emergency.

    “The mindset that emerged during that time — that the party is bigger than the nation, the family bigger than the party, and the individual bigger than the family — still poses a threat to democracy,” Shah said.

    Referring to the 1977 general election — in which the Congress was voted out and the Janata Party came to power — Shah said that was the first time in India’s history that a non-Congress party formed a government with an absolute majority.

    “That victory was not of a party but of Indian democracy. The people reminded us that the Constitution belongs to them, not those in power,” he said.

    In a veiled contrast with the past, Shah said that under Prime Minister Narendra Modi’s leadership, the idea of ‘Nation First’ has taken firm root. “Today, 1.4 billion Indians are working with resolve to make India No. 1 globally by 2047. This has been made possible by the sacrifices of those who resisted the Emergency and spent 19 months in jail,” he said.

    In 2024, the Centre issued a notification officially designating June 25 as Samvidhan Hatya Diwas, to mark the declaration of Emergency — widely viewed as one of the most controversial and debated chapters in Indian political history.

    Source: PIB

  • MIL-OSI Russia: IMF Executive Board Concludes the 2025 Article IV Consultation with Libya

    Source: IMF – News in Russian

    June 25, 2025

    • The continued political division and widespread fragilities have hindered the authorities’ capacity to control public expenditure and enact necessary reforms
    • The outlook is dominated by developments in the oil sector, and the country remains exposed to global downside risks
    • Controlling expenditure will be key to ensure sustainability and to achieving intergenerational equity

    Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Article IV Consultation with Libya.[1] The Executive Board’s decision was taken on a lapse-of-time basis.

    Real GDP growth is estimated to have declined to around 2 percent in 2024 from 10 percent in 2023, driven by a contraction in the hydrocarbon sector. At the same time, non-hydrocarbon growth remained robust on the back of sustained government spending. Both the current and the fiscal accounts have swung from a surplus in 2023 to a deficit in 2024. Reported inflation remained low.

    The outlook continues to be dominated by developments in the oil sector. Real GDP growth is projected to rebound in 2025, primarily driven by an expansion of oil production, before moderating to about 2 percent over the medium term. Non-hydrocarbon growth is set to remain between 5 and 6 percent in the medium term, supported by sustained government spending. The current account is slated to post a small surplus in 2025 (0.7 percent of GDP) before turning into a small deficit over the medium term, as oil prices remain subdued. The fiscal balance is projected to remain in deficit—albeit at a much lower level than in 2024—under the weight of continued large government spending.

    Risks are tilted to the downside. Domestic risks stem from political instability, potentially evolving into active conflict, disrupting oil production and exports, and preventing progress on much-needed economic reforms. The economy is exposed to global downside risks through its heavy dependence on oil exports and a large import bill.

    Executive Board Assessment[2]

    Economic activity and fiscal and external accounts are poised to remain heavily dependent on developments in the oil sector and subject to downside risks. Following a rebound in oil production, economic growth is expected to be in double digits in 2025, before moderating over the medium term. Despite the expected increase in oil exports, the current account and fiscal balances are set to remain in deficit over most of the forecast horizon, weighed down by the projected softening of oil prices and large fiscal spending. The outlook is subject to downside risks, including the potential intensification of domestic political tensions, which could disrupt oil production and exports, and adverse global economic and geopolitical developments, which would put additional downward pressure on oil prices. To mitigate these risks, accelerating reforms aimed at restraining fiscal spending and diversifying the economy away from oil will be crucial.    

    Controlling expenditure will be key to ensure sustainability and to achieve intergenerational equity. The authorities should remain steadfast in their efforts to agree on a unified budget that outlines priority spending and enhances the transparency and credibility of government fiscal operations. Until such an agreement is reached, pressures to increase spending on salaries and subsidies should be resisted. Over the medium term, a sizable adjustment will be required to set the fiscal position on a sustainable trajectory and preserve intergenerational equity. The adjustment should be carefully designed to rationalize current spending, particularly wages and energy subsidies, and mobilize non-oil revenues, while maintaining capital expenditures at levels that support economic diversification.

    A well-designed monetary and exchange rate policy framework will be essential to help manage economic cycles and mitigate the depreciation pressures. Introducing a well-defined policy rate will enhance the CBL’s capacity in smoothing the economic cycle and alleviating pressures on the dinar and provide a benchmark for the pricing of credit by both conventional and Islamic banks. Phasing out the foreign exchange tax alongside other exchange restrictions in line with Libya’s Article VIII obligations will reduce distortions, lower economic agents’ need to resort to the parallel market and help unify the exchange rate.

    Reforms are needed to reinforce the banking sector’s contribution to economic activity. Impediments to a more active role by banks in the economy remain pervasive. Introducing well-designed savings plans will help to reduce cash hoarding, expand banks’ deposit base, establish bank-customer relationships, and support the provision of credit to the private sector. Enhancing transparency and accountability within the banking sector and promoting financial literacy among the public would foster confidence in banks and increase their footprint in Libya’s economy. Strengthening the AML/CFT framework, including by aligning it with international standards, will be paramount to support the stability of correspondent banking relationships and to ensure that Libyan banks’ operations remain uninterrupted.

    Structural and governance reforms would foster the emergence of a diversified, sustainable, and private sector-led economy. Forging a comprehensive reform program aimed at reducing dependence on oil revenues should be at the top of the authorities’ agenda. Key elements of the reform program should promote a more active engagement of the private sector in economic activity, including by enhancing the business environment and access to finance and introducing labor market measures that encourage private sector employment. Taking decisive actions to tackle corruption, strengthen governance, and enhance the rule of law will support economic diversification further.

    There is a need to enhance data provision and statistical capacity. Data gaps continue to significantly hamper staff’s ability to conduct analysis and provide policy advice. There is a need for the authorities to implement the technical assistance recommendations in the areas of national accounts and external sector statistics, and monetary and financial statistics, and improve data collection and reporting.

    Libya: Selected Economic and Financial Indicators, 2021-2030

    (Main Export: Crude Oil)

                             
               

    Est.

    Proj.

         

    2021

    2022

    2023

    2024

    2025

    2026

    2027

    2028

    2029

    2030

    (Annual percentage change, unless otherwise indicated)

             

    National income and prices

             

    Real GDP (at market price)

       

    28.3

    -8.3

    10.2

    1.9

    16.1

    4.4

    1.6

    1.7

    1.9

    2.2

    Nonhydrocarbon

       

    5.9

    7.9

    -0.6

    14.3

    2.9

    5.9

    4.2

    4.4

    4.8

    5.3

    Hydrocarbon

       

    45.0

    -17.0

    17.8

    -5.5

    25.6

    3.6

    0.0

    0.0

    0.0

    0.0

    Nominal GDP in billions of Libyan dinars 1/

       

    159.0

    208.2

    211.9

    234.3

    251.2

    254.2

    265.5

    277.9

    292.0

    306.6

    Nominal GDP in billions of U.S. dollars 1/

       

    35.2

    43.3

    44.0

    48.4

    47.2

    47.7

    49.8

    52.2

    54.8

    57.6

    Per capita GDP in thousands of U.S. dollars

       

    5.2

    6.4

    6.4

    7.0

    6.8

    6.8

    7.0

    7.3

    7.5

    7.8

    GDP deflator

       

    90.4

    42.7

    -7.6

    3.6

    -3.3

    -3.1

    2.8

    2.9

    3.1

    2.8

    CPI inflation

             

      Period average

       

    2.9

    4.5

    2.4

    2.1

    2.3

    2.3

    2.3

    2.3

    2.3

    2.3

      End of period

       

    3.7

    4.1

    1.8

    2.3

    2.3

    2.3

    2.3

    2.3

    2.3

    2.3

    (In percent of GDP)

                           

    Central government finances

             

    Revenues

       

    79.5

    85.8

    73.6

    69.8

    67.9

    61.1

    58.5

    56.6

    54.5

    52.4

    Of which: Hydrocarbon

       

    78.1

    83.9

    71.6

    55.4

    62.1

    59.2

    56.7

    54.7

    52.6

    50.4

    Expenditure and net lending

       

    64.7

    62.2

    65.4

    94.8

    73.2

    64.6

    61.8

    59.5

    57.1

    54.8

    Of which: Capital expenditures

       

    10.9

    8.4

    8.7

    34.6

    20.1

    12.8

    12.1

    11.4

    11.0

    10.9

    Overall balance

       

    14.8

    23.6

    8.2

    -25.1

    -5.3

    -3.5

    -3.3

    -2.9

    -2.7

    -2.5

    Overall balance (in billions of U.S. dollars)

       

    5.2

    10.2

    3.6

    -12.1

    -2.5

    -1.7

    -1.6

    -1.5

    -1.5

    -1.4

    Nonhydrocarbon balance

       

    -63.3

    -60.3

    -63.4

    -80.5

    -67.5

    -62.7

    -60.0

    -57.6

    -55.2

    -52.9

    (Annual percentage change unless otherwise indicated)

             

    Money and credit

             

    Base Money

       

    2.8

    -16.9

    47.9

    6.6

    36.8

    9.0

    9.2

    10.0

    10.2

    16.7

    Currency in circulation

       

    -20.0

    -1.4

    37.6

    13.3

    10.5

    2.2

    1.5

    5.0

    5.0

    5.0

    Money and quasi-money

       

    -20.3

    12.0

    28.3

    12.2

    4.0

    4.5

    4.5

    5.0

    5.0

    5.0

    Net credit to the government (Libyan Dinar, billion)

       

    -94.1

    -114.9

    -110.9

    -128.8

    -130.4

    -121.4

    -112.7

    -104.6

    -96.8

    -89.3

    Credit to the economy (% of GDP)

       

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

    (In billions of U.S. dollars, unless otherwise indicated)

             

    Balance of payments

             

    Exports

       

    25.9

    32.1

    30.9

    28.4

    32.0

    31.3

    31.6

    32.0

    32.5

    32.9

    Of which: Hydrocarbon

       

    24.5

    30.0

    28.8

    26.3

    29.9

    29.1

    29.2

    29.7

    30.3

    29.9

    Imports

       

    17.0

    17.2

    17.7

    21.6

    21.9

    20.5

    20.6

    20.8

    21.0

    21.2

    Current account balance

       

    5.7

    10.0

    8.0

    -2.0

    0.3

    -0.3

    -0.2

    -0.2

    -0.1

    -0.1

    (As percent of GDP)

       

    16.1

    23.2

    18.3

    -4.2

    0.7

    -0.5

    -0.4

    -0.3

    -0.3

    -0.1

    Capital Account (including E&O)

       

    -7.0

    -5.3

    -3.8

    6.5

    -2.8

    -1.4

    -1.4

    -1.4

    -1.3

    -1.3

    Overall balance 2/

       

    1.1

    4.7

    4.3

    4.5

    -2.5

    -1.7

    -1.6

    -1.5

    -1.5

    -1.4

    Reserves

             

    Gross official reserves

       

    69.4

    74.1

    78.4

    82.9

    81.1

    79.4

    77.8

    76.3

    74.8

    73.4

    In months of next year’s imports

       

    32.2

    32.8

    34.2

    29.6

    31.0

    32.3

    31.5

    30.5

    29.6

    28.8

    Gross official reserves in percentage of Broad Money

       

    317.0

    318.2

    261.3

    250.3

    262.9

    246.4

    230.9

    215.6

    201.4

    188.2

    Total foreign assets

       

    79.7

    84.2

    88.5

    93.6

    91.6

    89.7

    87.9

    86.2

    84.5

    82.9

    Exchange rate

             

    Official exchange rate (LD/US$, period average)

       

    4.5

    4.8

    4.8

    4.8

    Parallel market exchange rate (LD/US$, period average)

       

    5.1

    5.1

    5.2

    6.9

    Parallel market exchange rate (LD/US$, end of period)

       

    5.0

    5.2

    6.1

    6.4

    Crude oil production (millions of barrels per day – mbd)

       

    1.2

    1.0

    1.2

    1.1

    1.4

    1.5

    1.5

    1.5

    1.5

    1.5

     Of which: Exports

       

    1.0

    0.8

    1.0

    0.9

    1.1

    1.2

    1.2

    1.2

    1.2

    1.2

    Crude oil price (US$/bbl) 3/

       

    64.4

    89.6

    75.0

    73.6

    66.9

    62.4

    62.7

    63.6

    64.3

    64.9

                             

    Sources: Libyan authorities; and IMF staff estimates and projections.

    1/ Nominal GDP data are at market prices.

    2/ Includes revaluation of gold holdings of U$10.5 billion in 2024.

    3/ The crude oil price was adjusted for Libya up to 2024.

    [1] Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country’s economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board.

    [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Mayada Ghazala

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/06/25/pr-25217-libya-imf-executive-board-concludes-the-2025-article-iv-consultation

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI Canada: The Government of Canada confirms the creation of an Advisory Group for the rehabilitation of the Quebec Bridge

    Source: Government of Canada News (2)

    Quebec City, Quebec, June 23, 2025 — The Honourable Joël Lightbound, Minister of Government Transformation, Public Works and Procurement and Member of Parliament for Louis-Hébert, announced today the creation of an Advisory Group to support efforts to rehabilitate the Québec Bridge.

    In November 2024, the Government of Canada announced that the conditions necessary for the retrocession of the Québec Bridge to the federal government had been met. Canada has thus regained ownership of this historic infrastructure, which is essential to the economy of both Canada and Quebec. Management of the Québec Bridge was entrusted to the federal Crown corporation Jacques Cartier and Champlain Bridges Incorporated (JCCBI), which is responsible for elaborating and implementing the bridge’s rehabilitation program.

    To support JCCBI in its mandate, the federal government is announcing the creation of an Advisory Group to rehabilitate the Québec Bridge. The purpose of this Group is to enable JCCBI to benefit from a diversity of expertise, to learn about the Québec City environment and its key players, as well as raise awareness of the Crown corporation and its mandate.

    The Advisory Group consists of representatives from JCCBI, Housing, Infrastructure and Communities Canada, the ministère des Transports et de la Mobilité durable du Québec, Canadian National Railway, the cities of Quebec City and Lévis, the Chambre de commerce et d’industries de Québec, the Chambre de commerce du Grand Lévis, the Commission de la capitale nationale du Québec, du Conseil régional de l’environnement (Capitale-Nationale), the Conseil régional de l’environnement (Chaudière-Appalaches), Université Laval, Port of Québec and two citizens, residents of Québec City and Lévis.

    The Advisory Group’s mandate is for two years, the estimated time required to develop the rehabilitation plan. Once this phase has been completed, whether the Group continues, in its current or revised form, will be reassessed in light of future needs.

    MIL OSI Canada News

  • MIL-OSI Canada: New website supports Prince Edward Island producers

    Source: Government of Canada News (2)

    June 25, 2025 – Charlottetown, Prince Edward Island – Agriculture and Agri-Food Canada

    A new website developed by the provincial Department of Agriculture is now available to help Prince Edward Island’s agriculture industry better understand and access programs available through the Sustainable Canadian Agricultural Partnership (Sustainable CAP).

    The dedicated website acts as a one-stop hub for key information, tools, and updates related to Sustainable CAP, making it easier for Island producers to explore funding opportunities, review program guidelines, and find contact information to receive application support. 

    Read success stories from farmers and organizations that received funding though Sustainable CAP.

    MIL OSI Canada News

  • MIL-OSI Canada: Minister Fraser meets with Atlantic Indigenous leaders

    Source: Government of Canada News (2)

    Leaders gather to explore how collaboration can unlock regional opportunity and drive inclusive growth

    June 25, 2025 · Millbrook First Nation, Nova Scotia · Atlantic Canada Opportunities Agency (ACOA)

    Today, the Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA), joined leaders from the Atlantic Policy Congress of First Nations Chiefs Secretariat (APC) and the Atlantic Indigenous Economic Development Integrated Research Program (AIEDIRP), to highlight how Indigenous-led economic development is shaping a more prosperous, inclusive future for Canada.

    The Government of Canada is committed to economic reconciliation as a key driver of stronger, more resilient communities. It continues to work with Indigenous entrepreneurs and communities in Atlantic Canada to break down barriers, and create more economic opportunities, especially for Indigenous youth. It also supports long-term growth through entrepreneurship and the development of a more inclusive economy for future generations.

    Indigenous-led economic development is strengthening Canada’s economic resilience, driving growth in key sectors, generating good jobs, and creating opportunities that benefit all Canadians. By closing socio-economic gaps and supporting Indigenous-led investment, Canada is driving real economic outcomes: higher productivity, better jobs, and a more competitive economy. 

    MIL OSI Canada News

  • MIL-OSI USA: Public Release of Micron Draft Environmental Impact Statement

    Source: US State of New York

    overnor Kathy Hochul today marked a major step forward for the Micron project in Central New York with the public release of the Draft Environmental Impact Statement (DEIS), a required component of both the State Environmental Quality Review Act (SEQR) and the federal National Environmental Policy Act (NEPA). The approximately 20,000-page document, jointly prepared by the Onondaga County Industrial Development Agency, the US Commerce Department and Micron, reflects one of the most thorough analyses ever conducted for a project in New York State, befitting the historic nature and transformative impact of Micron’s plan to invest up to $100 billion and support the creation of nearly 50,000 jobs over the next 20-plus years and will include the nation’s largest clean room space at approximately 2.4 million square feet.

    “We’re transforming Upstate New York’s economy one microchip at a time,” Governor Hochul said. “This marks a major milestone in Micron’s commitment to New York, showing how economic growth and environmental protection go hand-in-hand. This project is set to transform Central New York — and we’re moving full speed ahead.”

    Micron Executive Vice President of Global Operations Manish Bhatia said, “We appreciate the local, state, and federal agencies whose assistance and review have been instrumental in helping us reach this important milestone. Micron remains focused on bringing leading-edge memory manufacturing to New York. We’ve taken great care to prepare comprehensive draft environmental impact statement materials for review by the public and by local, state, and federal government agencies. As we move toward ground preparation later this year, we look forward to working closely with the lead agencies to ensure the process meets all regulatory requirements and provides meaningful opportunities for community input.”

    The public release of the DEIS is the latest milestone marking the ongoing partnership between Micron and New York State that was forged in October 2022 when Micron chose Central New York for its megafab. Governor Hochul has worked closely with local, state and federal partners to prepare for Micron’s arrival and make continued investments in the community and the region. As part of the Governor’s Green CHIPS incentive program, Micron will work to reduce greenhouse gas emissions, expand water restoration, reuse, and recycling efforts and target carbon-free energy, aligning with New York’s goal of achieving a clean energy economy. Over the next 45 days, the public will be able to comment on the findings in the DEIS. Within the comment period, an in-person public hearing will be held on July 24 at Liverpool High School. The comment period closes on August 11. Instructions on how to comment are available on the Onondaga County Office of Economic Development website.

    This $100 billion investment by Micron is the largest private investment in New York’s history and will contain the largest cleanroom in the United States. And by the end of the decade, one in four U.S. made chips will be produced within 350 miles of Upstate New York — no other region in the country will manufacture a greater share.

    Micron’s presence in Central New York, represents transformative growth in Upstate New York. This includes:

    • 9,000 new, good paying jobs at all levels of education on site
    • Up to 50,000 new permanent jobs in the region over next 30 years and tens of thousands of construction jobs over the next 20 years to build the campus
    • An additional $9.5 billion in regional economic output annually starting in 2027, ramping up to over $16 billion annually by 2041
    • An additional $3.3 billion in annual disposable income for Central New Yorkers by 2035, averaging to $5.4 billion annually in 30 years
    • Nearly $20 billion in revenue for state and local governments to improve schools and other public services

    After decades of stagnation, the Central NY population is expected to increase. Micron’s project is expected to attract upwards of 84,000 people to New York — the vast majority of them (76,000+) to the Central New York Region. To handle this growth, planned investments include:

    • Long-term infrastructure investments to support regional growth, including expanded water, wastewater, gas, electric and transportation systems
    • The $500 million Community Investment Fund developed to ensure inclusive economic growth, workforce development & quality of life enhancements for Central New York
    • The flagship location of the state’s new $200 million ON-RAMP workforce development program on the South Side of Syracuse
    • Governor Hochul’s historic housing policies include multiple initiatives and funding programs at the state level, and local policies are being developed to stimulate the regional market to increase the supply of affordable, high quality housing choices to meet high demand

    Senator Charles Schumer said, “This is a major step forward in getting shovels in the ground and bringing to life Micron’s transformational investment in Central NY. Thanks to my bipartisan CHIPS & Science Law, tens of thousands of good-paying jobs are on the horizon for our community and we are bringing semiconductor manufacturing back to America, with Upstate NY leading the way. I’m grateful for Governor Hochul’s partnership in bringing manufacturing investments and jobs back to Upstate New York.”

    Representative John W. Mannion said, “Micron’s historic investment continues to move forward with the transparency, environmental responsibility, and community engagement that Central New Yorkers expect and deserve. As the co-prime sponsor of New York’s Green CHIPS legislation, I worked with Governor Hochul and partners across all levels of government to help lay the groundwork for this transformational project. I remain committed to building on the record investments I’ve secured for workforce training — including MACNY apprenticeships, ON-RAMP, K-12 education, and career pathways — that are preparing NY-22 residents for a high-tech future full of opportunity and promise in every corner of our community.”

    Syracuse Mayor Ben Walsh said, “The Micron project will have a transformational impact on the City of Syracuse and our entire region. We welcome the release of the DEIS as a major step forward for the project and as an essential action to ensure our region’s natural resources and environment are safeguarded. I thank Governor Hochul, County Executive McMahon, Micron and all our partners for continuing their efforts to make Syracuse and Central New York a global leader in the semi conductor industry.”

    New York State Department of Environmental Conservation Commissioner Amanda Lefton said, “Responsible economic development starts with rigorous environmental review to fully evaluate and mitigate potential impacts to natural resources. Thanks to Governor Hochul’s leadership, this critical step in the review process will provide for robust public review of this once-in-a-generation project. DEC is proud to work with our federal, state, and local partners to help safeguard Central New York’s air, water, and lands as the Micron project advances.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “Today’s milestone represents the latest step in Micron’s historic commitment to Central New York. The DEIS is an important piece in any economic development project – especially for one of this size and scope – and demonstrates that this project is advancing through the critical approval process. New York State and Micron continue to work together to ensure that this unprecedented megafab, which will produce generational changes that benefit the region and the state, advances, and succeeds.”

    New York State Department of Transportation Commissioner Marie Therese Dominguez said, “This is truly an exciting time for Central New York, and the State Department of Transportation is playing a major role in the transformation of this entire region. As we continue to transform the transportation network on a scope and scale not seen in upstate New York while also righting the wrongs of the past and connecting communities across Syracuse through our historic I-81 Viaduct Project, we are helping prepare Central New York for the influx of jobs and growth that Micron will generate across the region. With Governor Hochul’s targeted investments and support, the state transportation system will be ready to accommodate Micron and the generational impact it will have on all facets of life in Central New York. We look forward to continuing to work with the Central New York community and Micron and as we begin to consider the next round of infrastructure investments in the near future.”

    New York State Energy Research and Development Authority (NYSERDA) President and CEO Doreen M. Harris said, “Micron’s historic investment in the Empire State is poised to bring thousands of new opportunities to New Yorkers across all skill levels. In releasing their Draft Environmental Impact Statement, Micron is showing what it means to lead by example — powering the technology of the future with zero-emission electricity while driving real economic growth for future generations.”

    New York Power Authority President and CEO Justin E. Driscoll said, “Micron’s arrival in New York will reshape the local economy, bringing thousands of good-paying construction, manufacturing and tech jobs to Central New York. NYPA is proud to support Micron’s historic investment in the state with significant allocations of low-cost power that will spur lasting economic growth in the region.”

    New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tem Randy Simons said, “The release of Micron’s Draft Environmental Impact Statement marks a significant achievement in this major initiative to create thousands of new jobs in Central New York. Our agency looks forward to working with our state and federal partners to preserve important resources while advancing economic development and quality of life in the region.”

    New York State Secretary of State Walter T. Mosley said, “Micron’s remarkable commitment to social and environmental sustainability is on full display with this impressive document, which can serve as a blueprint for corporate responsibility. Right from the start, Micron has proven itself to be a good corporate neighbor and is fast becoming a foundational part of the fabric of Upstate economic development and quality of life.”

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The release of Micron’s Draft Environmental Impact Statement illustrates the company’s strong environmental values and marks a pivotal step forward in our shared vision for a prosperous, inclusive Central New York. As we prepare for the unprecedented benefits of Micron’s $100 billion investment in the region, we look forward to putting Governor Hochul’s historic housing policies to work creating homes for a growing workforce and helping to ensure the long-term success of Micron, and of Central New York and its residents.”

    New York State Department of Labor Commissioner Roberta Reardon said, “While the partnership between New York State and Micron has been an integral step toward bringing good-paying advanced manufacturing careers to Upstate New York, workforce development cannot come at the cost of our crucial natural resources. The DEIS will help to ensure our environment and communities are being safeguarded as we work to extend greater economic opportunities to New Yorkers and make our state a safe, affordable place to live and work.”

    State Senator Rachel May said, “This report has been a long time in the making and I hope many others in CNY will join me in reading it carefully and engaging in the public comment process. We have heard a lot about the benefits this project will bring. Now we need to consider the impact it will have on our natural systems and how best to join economic growth to careful preservation of the precious resources that support us and define our region.”

    State Senator Chris Ryan said, “The release of the DEIS is greeted with anticipation and excitement because this is a moment of great importance. The findings of this historical report, and the planned investments in Central New York, will help ensure the region can take the needed steps to prepare for this generationally transformative project, and the thousands of jobs it will bring. I encourage residents to participate in the public comment and public hearing process. All of us, working together as a region, will benefit from this monumental opportunity.”

    Senator Kirsten Gillibrand said, “Governor Hochul’s success thus far in securing Micron’s investment in New York is impressive, and I am thrilled to see further progress with the DEIS release. Not only will Micron’s investment create up to 50,000 new permanent jobs in the region over the next 30 years, it will also benefit our economy by increasing regional economic output by $9.5 billion starting in 2027 and contribute to efforts toward clean energy by using 100% carbon-free electrical power. I will keep supporting efforts to bring chip manufacturing to New York so our state can continue to lead the nation on innovation.”

    Assemblymember William Magnarelli said, “Micron has the potential to transform not only the local community, but the regions’ employment forecast. The release of the DEIS is the most recent development that emphasizes the continual progress and investment required to prepare for its arrival.”

    Assemblymember Al Stirpe said, “The promise of Micron is one step closer with the public release of the Draft Environmental impact Statement. One step closer to the economic prosperity that comes along with tens of thousands of tech jobs, 20 years of non-stop construction work, as well as improved water, wastewater and transportation infrastructure. All done with a commitment to high environmental standards. Our region has waited for two generations for an opportunity like this, and now it’s right on our doorstep.”

    Assemblymember Pamela Hunter said, “The release of the Draft Environmental Impact Statement marks real progress in bringing transformational change to Central New York. Micron’s investment is not only creating jobs—it’s building opportunity for veterans, MWBEs, and communities that have historically been left behind. I’m proud to support this bold and inclusive vision for our region’s future.”

    CenterState CEO President and CEO Rob Simpson said, “The release of Micron’s Draft Environmental Impact Statement marks an important step forward for the company’s plans to expand and create thousands of good paying jobs in Central New York. We welcome the release of this report as a clear sign that the work is moving ahead for this critically important project. This DEIS reflects years of collaboration and diligence. Every step has been — and continues to be — shaped by public agencies working with Micron to protect our community’s vital natural resources. Transparency, accountability, and public input remain central to every stage, and this is no different. At the same time, we want to underscore the need for timeliness and momentum. Our region and our country need this project to come online as soon as possible to ensure our national security and economic competitiveness. We encourage the business community to get involved by reviewing the DEIS and advocating for this generational investment in our community.”

    Evergreen Action VP for States Justin Balik said, “Governor Hochul’s leadership has paved the way for Micron’s groundbreaking investment in New York, a project set to redefine sustainable economic development thanks to the state’s Green CHIPS incentive program and the federal CHIPS and Science law. Clean energy deployment is an integral component of economic development, creating new good paying jobs for New Yorkers, while simultaneously developing the technology of tomorrow with zero-emission electricity, ensuring sustainable economic growth for generations.”

    Central New York Community Engagement Committee Co-Chair Tim Penix said, “The release of this draft Environmental Impact Statement marks a significant milestone in bringing Micron’s historic investment to fruition. As Co-Chair of the Community Engagement Committee, I’ve witnessed firsthand the excitement and commitment of Central New Yorkers who see this as more than just economic development — it’s a once-in-a-generation opportunity to build a more equitable and prosperous future for our entire region. The comprehensive community engagement process we completed ensured that as this project moves forward, the voices and priorities of all Central New Yorkers will continue to guide how we maximize the benefits of this transformative moment.”

    MACNY President Randy Wolken said, “With today’s release, we are one step closer to breaking ground on Micron’s manufacturing facilities in Central New York. This project will create thousands of manufacturing jobs and will further elevate New York’s profile as a global hub for high-tech manufacturing and innovation. As we celebrate this critical milestone, the MACNY Team is excited, ready, and committed to collaborating with our members and community partners to help realize the full potential of this opportunity.”

    Governor Hochul has prioritized the semiconductor industry as a major part of her Executive Budgets since taking office. The Governor secured an additional $500 million capital investment for NY CREATES’ Albany Nanotech Complex with total State investment of $1 billion to jumpstart a $10 billion partnership that will bring a cutting-edge High NA EUV Lithography Center to the Complex. The Governor also announced the partnership with IBM, Micron, Applied Materials, Tokyo Electron and other leaders from the semiconductor industry last year as part of her commitment to establishing a global hub for semiconductor manufacturing in New York. Once completed, this new center will build on other semiconductor-related investments to make New York home to the first publicly owned High NA EUV Lithography Center in North America, support the long-term growth of New York’s tech economy and create and retain thousands of direct, indirect and union construction jobs.

    Governor Hochul has secured $100 million in additional funding for the Focused Attraction of Shovel-Ready Tracts New York (FAST NY) program. Launched in December 2022, FAST NY has awarded more than $175 million to prepare more than 2,500 acres across 20 sites in every Upstate region for shovel-readiness, a key feature businesses seek when looking to locate. Awards to improve sites have attracted companies such as Edwards Vacuum, Siemens Mobility, Chobani and fairlife.

    Additionally, in October 2023, Governor Hochul unveiled plans for the $15 million, 5,000 square-foot Micron Cleanroom Simulation Lab at Onondaga Community College, which will help to train students in Central New York for jobs at Micron.

    Most recently, Governor Hochul introduced a new, enhanced benefit tier for semiconductor supply chain companies; a new program to provide tax credits for large-scale semiconductor R&D investments of $100 million or more in qualified expenditures; a new semiconductor manufacturing workforce training incentive; and an overall 5-year extension of the Excelsior program.

    Semiconductors are vital to the nation’s economic strength, serving as the brains of modern electronics, and enabling technologies critical to U.S. economic growth, national security and global competitiveness. The industry directly employs over 300,000 people in the U.S. and supports more than 1.8 million additional domestic jobs. Semiconductors are a top five U.S. export, and the industry is the number one contributor to labor productivity, supporting improvements to the effectiveness and efficiency of virtually every economic sector — from farming to manufacturing.

    New York is home to a robust semiconductor industry of 156 semiconductor and supply chain companies that employ over 34,000 New Yorkers. Under Governor Hochul’s leadership, the industry is continuing to expand with major investments from semiconductor businesses and supply chain companies like Micron, GlobalFoundries, AMD, Edwards Vacuum, Menlo Micro and TTM Technologies to expand their presence in New York.

    MIL OSI USA News

  • MIL-OSI Video: Children and Armed Conflict – Joint Security Council Media Stakeout | United Nations

    Source: United Nations (video statements)

    Joint Security Council Stakeout on Children and Armed conflict led by Carolyn Rodrigues-Birkett, Permanent Representative of Guyana to the United Nations, and accompanied by Security Council Members.

    https://www.youtube.com/watch?v=3AU-Bw08v-I

    MIL OSI Video

  • MIL-OSI USA: During Telephone Town Hall, Feenstra Announces More Than $10.5 Million Returned to Iowans

    Source: United States House of Representatives – Representative Randy Feenstra (IA-04)

    WASHINGTON, D.C. – Last night, during a telephone town hall with nearly 5,400 Iowans, U.S. Rep. Randy Feenstra (R-Hull) announced that his office has returned more than $10.5 million to constituents since 2021.

    “Since I was first elected to Congress, I pledged that I would work to protect taxpayers from federal overreach, high taxes, and wasteful government spending. It’s why I’m glad to announce that our office has returned more than $10.5 million to Iowans – where these dollars rightfully belong,” said Rep. Feenstra. “To ensure that Iowans keep more of their hard-earned money, I’m also working with President Trump to pass our ‘One, Big, Beautiful Bill,’ which delivers the largest tax cut for working and middle-class families in American history. High-quality constituent service remains a top priority for me, and I will continue working to ensure that Iowans get their money when the federal government oversteps.”

    Feenstra also held a telephone town hall in January.

    ###

    MIL OSI USA News

  • MIL-OSI Banking: Authority publishes findings of regulatory registers review

    Source: Isle of Man

    The Isle of Man Financial Services Authority has published the findings of a thematic review focusing on compliance with key elements of the Financial Services Rule Book 2016 in relation to regulatory registers.

    The report, which is available to view online, highlights the results of a questionnaire and desk-based inspections involving low impact firms and professional officers supervised by the Authority’s Portfolio Division.

    Examples of good practice and topics for improvement are captured, along with the Authority’s observations on the data. The findings from the two separate phases of the thematic project will help to inform the Authority’s picture of risk at a firm and sector level.

    Regulatory registers are an important part of a robust compliance and risk management framework and assist areas such as risk management, audit and reporting, continuous improvement, and accountability and transparency. The review looked at how a selection of Island firms are meeting Rule Book requirements in respect of Conflicts of Interest, Complaints, Breaches and Pricing Errors.

    Samantha Crookall, Senior Manager, Portfolio Supervision Division, said: ‘Our division oversees a large cohort of Island firms that are rated as low impact in line with the engagement model published as part of the Authority’s Supervisory Methodology Framework. This thematic review will enable us to further enhance our understanding of our low impact firms, as they differ in nature, scale and complexity.’

    She added: ‘We hope the report provides further clarity to assist firms in meeting their obligations with the Rule Book in relation to regulatory registers and we’d like to thank all the firms for their positive engagement in this review.’

    MIL OSI Global Banks

  • MIL-OSI Banking: T Rowe Price Investment Management, Inc.

    Source: Isle of Man

    On 23 June 2025 the Isle of Man Financial Services Authority issued a Financial Services Licence to T Rowe Price Investment Management, Inc. under section 7 of the Financial Services Act 2008.  The licence has immediate effect and covers class 2 (investment business), sub-classes (3) and (4) and class 3 (services to collective investment schemes), sub-class (6).

    MIL OSI Global Banks

  • MIL-OSI Europe: EU Space Act to enhance market access and space safety

    Source: European Union 2

    The European Commission has proposed ambitious new measures to make Europe’s space sector cleaner, safer and more competitive.

    Europe’s space rules are currently fragmented, holding back innovation, reducing the European market share and creating extra costs. An EU harmonised framework would ensure safety, resilience, and environmental responsibility, while helping companies grow and scale up across borders.

    The EU Space Act aims to cut red tape, protect space assets, and create a fair, predictable playing field for businesses. It is based on 3 pillars:

    • Safety: new rules for tracking space objects and limiting new debris, preserving Europe’s secure and uninterrupted access to space
    • Resilience: tailored cybersecurity requirements to strengthen the protection of European space infrastructure and ensure business continuity
    • Sustainability: operators will need to assess and reduce the environmental impact of their space activities, while benefiting from support for innovation in emerging technologies, like in-space servicing to extend satellite life and reduce debris.

    The new rules would apply to both EU and non-EU operators offering services in Europe. Support will be offered to mitigate potential costs for the industry. 

    Alongside the EU Space Act, the Commission has also presented a Vision for the European Space Economy to tackle the evolving global space economy and the challenges posed by international competition and geopolitical tensions. The legislative proposal will be negotiated in the European Parliament and the Council, as part of the ordinary legislative procedure. 

    The space economy and the EU Space Act are a key priority for the Commission, as outlined in the Draghi and Letta reports, and more recently in the Competitiveness Compass and the Commission work programme for 2025. 

    For more information:

    Press release: EU Space Act

    Factsheet: EU Space Act 

    Factsheet: Vision for the European Space Economy  

    EU competitiveness

    MIL OSI Europe News

  • MIL-OSI United Kingdom: ​​Social Housing quality reforms: Letter to chief executives and council leaders​

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    ​​Social Housing quality reforms: Letter to chief executives and council leaders​

    ​​A letter to chief executives of housing associations and councils about quality reforms in the social rented sector. ​

    Applies to England

    Documents

    Details

    ​​This letter outlines the headline policy from recently announced quality reforms in the social rented sector, including Awaab’s Law and Electrical Safety Standards regulations and joint work with the Ministry of Justice on tackling claims forms.​

    Updates to this page

    Published 25 June 2025

    Sign up for emails or print this page

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Local Government Reorganisation survey to launch next week 25 June 2025 Local Government Reorganisation survey to launch next week

    Source: Aisle of Wight

    A new survey launching next week will give Isle of Wight residents the chance to share their views on how local government could be reorganised to better serve communities across the region.

    The Isle of Wight Council is working alongside other councils across Hampshire, Portsmouth, and Southampton to explore potential changes to the current structure of local government — particularly in areas where services are split between county and district or borough councils.

    While most of Hampshire operates under this ‘two-tier’ system, the Isle of Wight already functions as a unitary authority, meaning the council is responsible for all local services.

    Under the proposals being developed, the Isle of Wight would continue as its own unitary authority. Meanwhile, the mainland councils are exploring the creation of four new unitary councils to replace the current 15-council structure across the wider region.

    The survey is a key part of the Local Government Reorganisation (LGR) process. It will gather feedback from residents, businesses, and community groups across all participating council areas to help shape how local councils work in the future.

    Further details, including a link to the survey, will be shared when it goes live next week.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: £250,000 support for Scott Street residents and businesses

    Source: Scotland – City of Perth

    One person died in the fire at 41 Scott Street in the early hours of Saturday morning. The building was destroyed in the fire.

    Demolition work is already underway. Several residential and businesses properties remain closed for safety reasons because of their proximity to the damaged building.

    Fifty-five households have had to be rehoused because of the fire.

    Perth and Kinross Council’s Finance and Resources Committee approved releasing £250,000 from the Communities Earmarked Reserve to support residents and businesses when it met on Wednesday 25 June.

    It follows a request from Perth and Kinross Council last week for proposals on support to be brought to this week’s meeting of the Finance and Resources Committee.

    Councillor leader Councillor Grant Laing, vice convenor of the Finance and Resources Committee, said: “It is still early days, and it is likely that there will be a call for other funding, but it is important that the Council stands with our citizens and communities in their hour of need.

    “So today I am proposing the immediate allocation of £250,000 from the Communities earmarked Reserve to support those very communities.

    “Specifically, as well as augmenting the Scottish Welfare Fund and Financial Insecurity Fund, this investment will assist residents affected by rent shortfalls who are not eligible for other support.

    “For businesses directly impacted by the demolition and closures, funding to support their immediate recovery costs as well as future expenses linked to reopening or relocation.

    “Looking ahead, we may also look at how we encourage footfall back into the areas affected.”

    Finance and Resources Convenor Councillor Stewart Donaldson added: “There will be additional funding but it is vital we provide immediate support to all those impacted by the fire.

    “This was a devastating event and I would like to thank everyone who has provided support to those affected. The response from communities across Perth and Kinross has been inspiring.”

    Perth and Kinross Council hosted a drop-in session for those affected by the fire on Tuesday 24 June which offered advice on a range of issues. Partner agencies providing support also attended.

    A second session will take place on Friday. Supported by Pete Wishart MP and John Swinney MSP, it will have a focus on insurance issues. The event will be attended by representatives of Perth-based insurance firm Aviva and the Association of British Insurers.

    It takes place at Perth and Kinross Council’s 2 High Street offices from 11am to 2pm on Friday 27 June.

    MIL OSI United Kingdom

  • MIL-OSI United Nations: Secretary-General’s remarks to the General Assembly on the 20th Anniversary of the Responsibility to Protect [bilingual as delivered; scroll down for all-English and all-French]

    Source: United Nations secretary general

    Twenty years ago, leaders gathered at the 2005 World Summit and committed to protect populations from genocide, war crimes, ethnic cleansing, and crimes against humanity.

    In doing so, they recognized that sovereignty carries not only rights, but responsibilities — first and foremost, the duty of each State to protect its own people.

    They underlined the duty of the international community to support States in this effort, and they highlighted the need for collective, timely and decisive action in line with the UN Charter, when national authorities manifestly fail to do so. 

    Today, we mark the 20th anniversary of the Responsibility to Protect at a time of profound global turbulence.

    We are witnessing the highest number of armed conflicts since the end of the Second World War.

    These are marked by rising identity-based violence, widespread violations of international humanitarian law and human rights law, and deepening impunity.

    Conflicts are becoming more protracted, more complex, and interconnected. 

    Emerging threats such as the weaponization of new technologies and the proliferation of advanced weaponry require a constant adaptation of our efforts to prevent the commission of atrocity crimes and to protect populations.

    In addition, too often, early warnings go unheeded, and alleged evidence of crimes committed by States and non-State actors are met with denial, indifference, or repression.

    Responses are often too little, too late, inconsistent or undermined by double standards. Civilians are paying the highest price. 

    Credibility as the guardian of peace and security, development, and human rights requires consistency with the UN Charter. 

    On this anniversary, we must recognize that the Responsibility to Protect is more than a principle – it is a moral imperative, rooted in our shared humanity and the UN Charter. 

    Excellencies,

    In that spirit, I share today the seventeenth report of the Secretary-General on the Responsibility to Protect.  

    It reflects two decades of efforts, calls for revitalized action, and includes insights from a survey conducted in preparation for this report.  

    We found that the principle holds strong support among Member States. 

    Communities affected by violence see it as offering a ray of hope.  But they also call for effective implementation at all levels.  

    The report highlights efforts realized through national prevention mechanisms of a regional nature – from the African Union to ASEAN, the OSCE and the Organization of American States; and multilateral initiatives such as the Group of Friends of R2P, the ACT Code of Conduct, and the call for veto restraint in the face of mass atrocities. 

    It shows that early diplomacy, early warning, and institutional innovation to prevent and respond to atrocity crimes can be effective.

    It also underscores the need to mainstream atrocity prevention across the United Nations system — from humanitarian action to peacekeeping to human rights.

    And it calls for integrating early warning, supporting national prevention mechanisms, and embedding atrocity prevention in the broader agendas of sustaining peace, human rights, and the 2030 Agenda.

    Excellences,

    Aucune société n’est à l’abri du risque de crimes d’atrocité.

    La prévention doit commencer chez soi — par un leadership qui protège les droits, valorise la diversité et respecte l’État de droit.

    Elle doit également être soutenue à l’échelle mondiale — grâce à la coopération multilatérale, à une diplomatie fondée sur des principes, et une action rapide et décisive pour protéger efficacement les populations.

    Vingt ans après, la Responsabilité de protéger demeure une nécessité urgente, un impératif moral et une promesse non tenue.

    Tenons cette promesse.  Approfondissons notre engagement.  Renforçons notre coopération. Et faisons de la prévention des atrocités et de la protection des populations une pratique permanente et universelle.

    Allons de l’avant avec détermination, dans l’unité, et avec le courage d’agir.

    Je vous remercie.
    ********************
    All-English
    Twenty years ago, leaders gathered at the 2005 World Summit and committed to protect populations from genocide, war crimes, ethnic cleansing, and crimes against humanity.

    In doing so, they recognized that sovereignty carries not only rights, but responsibilities — first and foremost, the duty of each State to protect its own people.

    They underlined the duty of the international community to support States in this effort, and they highlighted the need for collective, timely and decisive action in line with the UN Charter, when national authorities manifestly fail to do so. 

    Today, we mark the 20th anniversary of the Responsibility to Protect at a time of profound global turbulence.

    We are witnessing the highest number of armed conflicts since the end of the Second World War.

    These are marked by rising identity-based violence, widespread violations of international humanitarian law and human rights law, and deepening impunity.

    Conflicts are becoming more protracted, more complex, and interconnected. 

    Emerging threats such as the weaponization of new technologies and the proliferation of advanced weaponry require a constant adaptation of our efforts to prevent the commission of atrocity crimes and to protect populations.

    In addition, too often, early warnings go unheeded, and alleged evidence of crimes committed by States and non-State actors are met with denial, indifference, or repression.

    Responses are often too little, too late, inconsistent or undermined by double standards. Civilians are paying the highest price. 

    Credibility as the guardian of peace and security, development, and human rights requires consistency with the UN Charter. 

    On this anniversary, we must recognize that the Responsibility to Protect is more than a principle – it is a moral imperative, rooted in our shared humanity and the UN Charter. 

    Excellencies,

    In that spirit, I share today the seventeenth report of the Secretary-General on the Responsibility to Protect.  

    It reflects two decades of efforts, calls for revitalized action, and includes insights from a survey conducted in preparation for this report.  

    We found that the principle holds strong support among Member States. 

    Communities affected by violence see it as offering a ray of hope.  But they also call for effective implementation at all levels.  

    The report highlights efforts realized through national prevention mechanisms of a regional nature – from the African Union to ASEAN, the OSCE and the Organization of American States; and multilateral initiatives such as the Group of Friends of R2P, the ACT Code of Conduct, and the call for veto restraint in the face of mass atrocities.

    It shows that early diplomacy, early warning, and institutional innovation to prevent and respond to atrocity crimes can be effective.

    It also underscores the need to mainstream atrocity prevention across the United Nations system — from humanitarian action to peacekeeping to human rights.

    And it calls for integrating early warning, supporting national prevention mechanisms, and embedding atrocity prevention in the broader agendas of sustaining peace, human rights, and the 2030 Agenda.

    Excellencies,

    No society is immune from the risk of atrocity crimes. 

    Prevention must begin at home – with leadership that protects rights, embraces diversity, and upholds the rule of law. 

    And it must be supported globally — through multilateral cooperation, principled diplomacy, and early and decisive action to effectively protect populations.

    Two decades on, the Responsibility to Protect remains both an urgent necessity, a moral imperative and an unfulfilled promise.

    Let us keep the promise, deepen our commitment, strengthen our cooperation, and ensure that atrocity prevention and protecting populations becomes a permanent and universal practice. 

    Let us move forward with resolve, unity, and the courage to act.

    Thank you.

    ***************
    All-French
    Il y a vingt ans, au Sommet mondial de 2005, les responsables politiques se sont engagés à protéger les populations contre le génocide, les crimes de guerre, le nettoyage ethnique et les crimes contre l’humanité.

    Ce faisant, ils ont convenu que la souveraineté s’accompagnait non seulement de droits, mais également de responsabilités – à commencer par le devoir qu’a chaque État de protéger son propre peuple.

    Ils ont souligné que la communauté internationale avait le devoir de soutenir les États dans cette démarche et insisté sur la nécessité de mener en temps voulu une action collective résolue, conformément à la Charte des Nations Unies, lorsque les autorités nationales n’y parviennent manifestement pas.
    Aujourd’hui, nous marquons le 20e anniversaire de la Responsabilité de protéger à un moment où le monde est dans la tourmente.

    Le nombre de conflits armés auxquels nous assistons est le plus élevé enregistré depuis la fin de la Seconde Guerre mondiale.

    Ces conflits se caractérisent par une montée de la violence identitaire, des violations généralisées du droit international humanitaire et du droit international des droits humains, et une impunité grandissante.

    Les conflits sont de plus en plus longs, complexes et interconnectés.

    Les menaces émergentes, telles que la militarisation des nouvelles technologies et la prolifération des armements de pointe, exigent que nous nous adaptions constamment afin d’empêcher que des atrocités criminelles soient commises et de protéger les populations.

    De plus, les alertes rapides restent trop souvent lettre morte et les preuves avancées à l’appui de crimes commis par des acteurs étatiques et non étatiques font l’objet d’un déni, d’indifférence, voire sont réprimées.

    Les réponses sont souvent trop faibles, trop tardives, incohérentes ou minées par l’application d’un système du deux poids, deux mesures. Ce sont donc les civils qui paient le plus lourd tribut.

    Une défense crédible de la paix et de la sécurité, du développement et des droits humains passe par le respect de la Charte des Nations Unies.

    À l’occasion de cet anniversaire, nous devons prendre conscience que la Responsabilité de protéger n’est pas uniquement un principe : c’est un impératif moral, ancré dans notre humanité commune et dans la Charte des Nations Unies.

    Excellences,

    C’est dans cet esprit que je présente aujourd’hui le dix-septième rapport du Secrétaire général sur la Responsabilité de protéger.

    Ce rapport rend compte de deux décennies d’efforts, préconise la revitalisation de l’action menée et présente les résultats des enquêtes qui ont permis de l’établir.

    Nous avons constaté que ce principe bénéficiait d’un large soutien parmi les États Membres.

    Les communautés touchées par la violence y voient une lueur d’espoir, mais réclament une mise en œuvre efficace à tous les niveaux.

    Le rapport met en lumière les efforts faits dans le cadre de mécanismes nationaux de prévention ou sous un leadership régional – sous l’égide de l’Union africaine, de l’ASEAN, de l’OSCE ou de l’Organisation des États américains et dans le cadre d’initiatives multilatérales telles que le Groupe des Amis de la Responsabilité de protéger, le code de conduite du Groupe Responsabilité, cohérence et transparence, et l’appel à la limitation du droit de veto en cas d’atrocités de masse.

    Le rapport montre que la diplomatie préventive, l’alerte rapide et les voies institutionnelles innovantes visant à prévenir et combattre les atrocités criminelles peuvent être efficaces.

    Il souligne également la nécessité d’intégrer la prévention des atrocités dans l’ensemble du système des Nations Unies – de l’action humanitaire au maintien de la paix en passant par les droits humains.

    Enfin, il préconise l’intégration des systèmes d’alerte rapide, le renforcement des mécanismes nationaux de prévention et la prise en compte de la prévention des atrocités criminelles dans les activités plus générales concernant la pérennisation de la paix, la défense des droits humains et le Programme 2030.

    Excellences,

    Aucune société n’est à l’abri du risque de crimes d’atrocité.

    La prévention doit commencer chez soi – par un leadership qui protège les droits, valorise la diversité et respecte l’État de droit.

    Elle doit également être soutenue à l’échelle mondiale – grâce à la coopération multilatérale, à une diplomatie fondée sur des principes, et une action rapide et décisive pour protéger efficacement les populations.

    Vingt ans après, la Responsabilité de protéger demeure une nécessité urgente, un impératif moral et une promesse non tenue.

    Tenons cette promesse. Approfondissons notre engagement. Renforçons notre coopération. Et faisons de la prévention des atrocités et de la protection des populations une pratique permanente et universelle.

    Allons de l’avant avec détermination, dans l’unité, et avec le courage d’agir.

    Je vous remercie.
     

    MIL OSI United Nations News

  • MIL-OSI China: Chinese defense minister meets with guests attending SCO Defense Ministers’ Meeting 2025-06-25 23:08:14 Chinese Defense Minister Dong Jun on Wednesday held individual meetings in east China’s Qingdao city with his counterparts from Belarus, Iran, Pakistan, Kyrgyzstan and Russia.

    Source: People’s Republic of China – Ministry of National Defense

      QINGDAO, June 25 (Xinhua) — Chinese Defense Minister Dong Jun on Wednesday held individual meetings in east China’s Qingdao city with his counterparts from Belarus, Iran, Pakistan, Kyrgyzstan and Russia.

      They are attending the Shanghai Cooperation Organization (SCO) Defense Ministers’ Meeting from Wednesday to Thursday.

      Unilateralism and protectionism are surging, while hegemonic, high-handed, and bullying acts severely undermine the international order, making these practices the biggest sources of chaos and harm, Dong said.

      He called for efforts to enhance coordination within multilateral frameworks such as the United Nations and the SCO, defend international fairness and justice, and uphold global strategic stability.

      The attendees commended China’s rotating SCO presidency for enhancing institutional mechanisms and cross-sector cooperation, while expressing strong readiness to consolidate and develop military cooperation. 

    loading…

    MIL OSI China News

  • MIL-OSI USA: Superconducting material stabilized at everyday pressure, another step toward real-world applications

    Source: US Government research organizations

    New technique maintains a particular material’s superconducting properties outside high pressure environments

    U.S. National Science Foundation-funded researchers have stabilized a composite material in a superconducting state at ambient or normal, everyday pressure. Their technique, called the “pressure-quench protocol,” offers a new approach for exploring and developing superconducting materials. Superconducting materials have the potential to enable highly efficient electronic devices and minimal energy loss in power grids.

    Superconducting materials typically exhibit zero electrical resistance only at very low temperatures or very high pressures, depending on the material. Researchers at the University of Houston overcame these limitations by using their pressure-quench technique to stabilize a composite of bismuth, antimony and tellurium in a superconducting state under ambient pressure. This study, published in Proceedings of the National Academy of Sciences, also included contributions from researchers at the University at Buffalo and the University of Illinois Chicago.

    Credit: Liangzi Deng and Ching-Wu Chu

    A multi-purpose measurement device used in the pressure-quenching experiments can reach a temperature of 1.2 degrees Kelvin (-457 degrees Fahrenheit).

    The new protocol also opens up a new way to explore material phases that usually exist only under extreme pressure. “It should help our search for superconductors with higher transition temperatures,” says Paul Ching-Wu Chu, a study author and professor of physics at the University of Houston.

    “The technique used in this study not only demonstrates potential for understanding how materials can be superconductive in everyday conditions — it’s a new way to create states of matter that we have not seen before in particular materials,” says John Schlueter, program director in the NSF Division of Materials Research, which supported the work.

    MIL OSI USA News

  • MIL-OSI USA: Superconducting material stabilized at everyday pressure, another step toward real-world applications

    Source: US Government research organizations

    New technique maintains a particular material’s superconducting properties outside high pressure environments

    U.S. National Science Foundation-funded researchers have stabilized a composite material in a superconducting state at ambient or normal, everyday pressure. Their technique, called the “pressure-quench protocol,” offers a new approach for exploring and developing superconducting materials. Superconducting materials have the potential to enable highly efficient electronic devices and minimal energy loss in power grids.

    Superconducting materials typically exhibit zero electrical resistance only at very low temperatures or very high pressures, depending on the material. Researchers at the University of Houston overcame these limitations by using their pressure-quench technique to stabilize a composite of bismuth, antimony and tellurium in a superconducting state under ambient pressure. This study, published in Proceedings of the National Academy of Sciences, also included contributions from researchers at the University at Buffalo and the University of Illinois Chicago.

    Credit: Liangzi Deng and Ching-Wu Chu

    A multi-purpose measurement device used in the pressure-quenching experiments can reach a temperature of 1.2 degrees Kelvin (-457 degrees Fahrenheit).

    The new protocol also opens up a new way to explore material phases that usually exist only under extreme pressure. “It should help our search for superconductors with higher transition temperatures,” says Paul Ching-Wu Chu, a study author and professor of physics at the University of Houston.

    “The technique used in this study not only demonstrates potential for understanding how materials can be superconductive in everyday conditions — it’s a new way to create states of matter that we have not seen before in particular materials,” says John Schlueter, program director in the NSF Division of Materials Research, which supported the work.

    MIL OSI USA News

  • MIL-OSI USA: Know your “Blue IQ” with NOAA’s new beach safety videos

    Source: US National Ocean Service News

    dot gov icon

    Official websites use .gov
    A .gov website belongs to an official government organization in the United States.

    https icon

    Secure websites use HTTPS
    A small lock or https:// means you’ve safely connected to a .gov website. Share sensitive information only on official, secure websites.

    MIL OSI USA News

  • MIL-OSI USA: Know your “Blue IQ” with NOAA’s new beach safety videos

    Source: US National Ocean Service News

    dot gov icon

    Official websites use .gov
    A .gov website belongs to an official government organization in the United States.

    https icon

    Secure websites use HTTPS
    A small lock or https:// means you’ve safely connected to a .gov website. Share sensitive information only on official, secure websites.

    MIL OSI USA News

  • MIL-OSI Analysis: Checking in on New England fisheries 25 Years after ‘The Perfect Storm’ movie

    Source: The Conversation – USA – By Stephanie Otts, Director of National Sea Grant Law Center, University of Mississippi

    Filming ‘The Perfect Storm’ in Gloucester Harbor, Mass.
    The Salem News Historic Photograph Collection, Salem State University Archives and Special Collections, CC BY

    Twenty-five years ago, “The Perfect Storm” roared into movie theaters. The disaster flick, starring George Clooney and Mark Wahlberg, was a riveting, fictionalized account of commercial swordfishing in New England and a crew who went down in a violent storm.

    The anniversary of the film’s release, on June 30, 2000, provides an opportunity to reflect on the real-life changes to New England’s commercial fishing industry.

    Fishing was once more open to all

    In the true story behind the movie, six men lost their lives in late October 1991 when the commercial swordfishing vessel Andrea Gail disappeared in a fierce storm in the North Atlantic as it was headed home to Gloucester, Massachusetts.

    At the time, and until very recently, almost all commercial fisheries were open access, meaning there were no restrictions on who could fish.

    There were permit requirements and regulations about where, when and how you could fish, but anyone with the means to purchase a boat and associated permits, gear, bait and fuel could enter the fishery. Eight regional councils established under a 1976 federal law to manage fisheries around the U.S. determined how many fish could be harvested prior to the start of each fishing season.

    Fishing has been an integral part of coastal New England culture since its towns were established. In this 1899 photo, a New England community weighs and packs mackerel.
    Charles Stevenson/Freshwater and Marine Image Bank

    Fishing started when the season opened and continued until the catch limit was reached. In some fisheries, this resulted in a “race to the fish” or a “derby,” where vessels competed aggressively to harvest the available catch in short amounts of time. The limit could be reached in a single day, as happened in the Pacific halibut fishery in the late 1980s.

    By the 1990s, however, open access systems were coming under increased criticism from economists as concerns about overfishing rose.

    The fish catch peaked in New England in 1987 and would remain far above what the fish population could sustain for two more decades. Years of overfishing led to the collapse of fish stocks, including North Atlantic cod in 1992 and Pacific sardine in 2015.

    As populations declined, managers responded by cutting catch limits to allow more fish to survive and reproduce. Fishing seasons were shortened, as it took less time for the fleets to harvest the allowed catch. It became increasingly hard for fishermen to catch enough fish to earn a living.

    Saving fisheries changed the industry

    In the early 2000s, as these economic and environmental challenges grew, fisheries managers started limiting access. Instead of allowing anyone to fish, only vessels or individuals meeting certain eligibility requirements would have the right to fish.

    The most common method of limiting access in the U.S. is through limited entry permits, initially awarded to individuals or vessels based on previous participation or success in the fishery. Another approach is to assign individual harvest quotas or “catch shares” to permit holders, limiting how much each boat can bring in.

    In 2007, Congress amended the 1976 Magnuson-Stevens Fishery Conservation and Management Act to promote the use of limited access programs in U.S. fisheries.

    Ships in the fleet out of New Bedford, Mass.
    Henry Zbyszynski/Flickr, CC BY

    Today, limited access is common, and there are positive signs that the management change is helping achieve the law’s environmental goal of preventing overfishing. Since 2000, the populations of 50 major fishing stocks have been rebuilt, meaning they have recovered to a level that can once again support fishing.

    I’ve been following the changes as a lawyer focused on ocean and coastal issues, and I see much work still to be done.

    Forty fish stocks are currently being managed under rebuilding plans that limit catch to allow the stock to grow, including Atlantic cod, which has struggled to recover due to a complex combination of factors, including climatic changes.

    The lingering effect on communities today

    While many fish stocks have recovered, the effort came at an economic cost to many individual fishermen. The limited-access Northeast groundfish fishery, which includes Atlantic cod, haddock and flounder, shed nearly 800 crew positions between 2007 and 2015.

    The loss of jobs and revenue from fishing impacts individual family income and relationships, strains other businesses in fishing communities, and affects those communities’ overall identity and resilience, as illustrated by a recent economic snapshot of the Alaska seafood industry.

    When original limited-access permit holders leave the business – for economic, personal or other reasons – their permits are either terminated or sold to other eligible permit holders, leading to fewer active vessels in the fleet. As a result, the number of vessels fishing for groundfish has declined from 719 in 2007 to 194 in 2023, meaning fewer jobs.

    A fisherman unloads a portion of his catch for the day of 300 pounds of groundfish, including flounder, in January 2006 in Gloucester, Mass.
    AP Photo/Lisa Poole

    Because of their scarcity, limited-access permits can cost upward of US$500,000, which is often beyond the financial means of a small businesses or a young person seeking to enter the industry. The high prices may also lead retiring fishermen to sell their permits, as opposed to passing them along with the vessels to the next generation.

    These economic forces have significantly altered the fishing industry, leading to more corporate and investor ownership, rather than the family-owned operations that were more common in the Andrea Gail’s time.

    Similar to the experience of small family farms, fishing captains and crews are being pushed into corporate arrangements that reduce their autonomy and revenues.

    Consolidation can threaten the future of entire fleets, as New Bedford, Massachusetts, saw when Blue Harvest Fisheries, backed by a private equity firm, bought up vessels and other assets and then declared bankruptcy a few years later, leaving a smaller fleet and some local business and fishermen unpaid for their work. A company with local connections bought eight vessels from Blue Harvest along with 48 state and federal permits the company held.

    New challenges and unchanging risks

    While there are signs of recovery for New England’s fisheries, challenges continue.

    Warming water temperatures have shifted the distribution of some species, affecting where and when fish are harvested. For example, lobsters have moved north toward Canada. When vessels need to travel farther to find fish, that increases fuel and supply costs and time away from home.

    Fisheries managers will need to continue to adapt to keep New England’s fisheries healthy and productive.

    One thing that, unfortunately, hasn’t changed is the dangerous nature of the occupation. Between 2000 and 2019, 414 fishermen died in 245 disasters.

    Stephanie Otts receives funding from the NOAA National Sea Grant College Program through the U.S. Department of Commerce. Previous support for fisheries management legal research provided by The Nature Conservancy.

    ref. Checking in on New England fisheries 25 Years after ‘The Perfect Storm’ movie – https://theconversation.com/checking-in-on-new-england-fisheries-25-years-after-the-perfect-storm-movie-255076

    MIL OSI Analysis

  • MIL-OSI Analysis: Checking in on New England fisheries 25 Years after ‘The Perfect Storm’ movie

    Source: The Conversation – USA – By Stephanie Otts, Director of National Sea Grant Law Center, University of Mississippi

    Filming ‘The Perfect Storm’ in Gloucester Harbor, Mass.
    The Salem News Historic Photograph Collection, Salem State University Archives and Special Collections, CC BY

    Twenty-five years ago, “The Perfect Storm” roared into movie theaters. The disaster flick, starring George Clooney and Mark Wahlberg, was a riveting, fictionalized account of commercial swordfishing in New England and a crew who went down in a violent storm.

    The anniversary of the film’s release, on June 30, 2000, provides an opportunity to reflect on the real-life changes to New England’s commercial fishing industry.

    Fishing was once more open to all

    In the true story behind the movie, six men lost their lives in late October 1991 when the commercial swordfishing vessel Andrea Gail disappeared in a fierce storm in the North Atlantic as it was headed home to Gloucester, Massachusetts.

    At the time, and until very recently, almost all commercial fisheries were open access, meaning there were no restrictions on who could fish.

    There were permit requirements and regulations about where, when and how you could fish, but anyone with the means to purchase a boat and associated permits, gear, bait and fuel could enter the fishery. Eight regional councils established under a 1976 federal law to manage fisheries around the U.S. determined how many fish could be harvested prior to the start of each fishing season.

    Fishing has been an integral part of coastal New England culture since its towns were established. In this 1899 photo, a New England community weighs and packs mackerel.
    Charles Stevenson/Freshwater and Marine Image Bank

    Fishing started when the season opened and continued until the catch limit was reached. In some fisheries, this resulted in a “race to the fish” or a “derby,” where vessels competed aggressively to harvest the available catch in short amounts of time. The limit could be reached in a single day, as happened in the Pacific halibut fishery in the late 1980s.

    By the 1990s, however, open access systems were coming under increased criticism from economists as concerns about overfishing rose.

    The fish catch peaked in New England in 1987 and would remain far above what the fish population could sustain for two more decades. Years of overfishing led to the collapse of fish stocks, including North Atlantic cod in 1992 and Pacific sardine in 2015.

    As populations declined, managers responded by cutting catch limits to allow more fish to survive and reproduce. Fishing seasons were shortened, as it took less time for the fleets to harvest the allowed catch. It became increasingly hard for fishermen to catch enough fish to earn a living.

    Saving fisheries changed the industry

    In the early 2000s, as these economic and environmental challenges grew, fisheries managers started limiting access. Instead of allowing anyone to fish, only vessels or individuals meeting certain eligibility requirements would have the right to fish.

    The most common method of limiting access in the U.S. is through limited entry permits, initially awarded to individuals or vessels based on previous participation or success in the fishery. Another approach is to assign individual harvest quotas or “catch shares” to permit holders, limiting how much each boat can bring in.

    In 2007, Congress amended the 1976 Magnuson-Stevens Fishery Conservation and Management Act to promote the use of limited access programs in U.S. fisheries.

    Ships in the fleet out of New Bedford, Mass.
    Henry Zbyszynski/Flickr, CC BY

    Today, limited access is common, and there are positive signs that the management change is helping achieve the law’s environmental goal of preventing overfishing. Since 2000, the populations of 50 major fishing stocks have been rebuilt, meaning they have recovered to a level that can once again support fishing.

    I’ve been following the changes as a lawyer focused on ocean and coastal issues, and I see much work still to be done.

    Forty fish stocks are currently being managed under rebuilding plans that limit catch to allow the stock to grow, including Atlantic cod, which has struggled to recover due to a complex combination of factors, including climatic changes.

    The lingering effect on communities today

    While many fish stocks have recovered, the effort came at an economic cost to many individual fishermen. The limited-access Northeast groundfish fishery, which includes Atlantic cod, haddock and flounder, shed nearly 800 crew positions between 2007 and 2015.

    The loss of jobs and revenue from fishing impacts individual family income and relationships, strains other businesses in fishing communities, and affects those communities’ overall identity and resilience, as illustrated by a recent economic snapshot of the Alaska seafood industry.

    When original limited-access permit holders leave the business – for economic, personal or other reasons – their permits are either terminated or sold to other eligible permit holders, leading to fewer active vessels in the fleet. As a result, the number of vessels fishing for groundfish has declined from 719 in 2007 to 194 in 2023, meaning fewer jobs.

    A fisherman unloads a portion of his catch for the day of 300 pounds of groundfish, including flounder, in January 2006 in Gloucester, Mass.
    AP Photo/Lisa Poole

    Because of their scarcity, limited-access permits can cost upward of US$500,000, which is often beyond the financial means of a small businesses or a young person seeking to enter the industry. The high prices may also lead retiring fishermen to sell their permits, as opposed to passing them along with the vessels to the next generation.

    These economic forces have significantly altered the fishing industry, leading to more corporate and investor ownership, rather than the family-owned operations that were more common in the Andrea Gail’s time.

    Similar to the experience of small family farms, fishing captains and crews are being pushed into corporate arrangements that reduce their autonomy and revenues.

    Consolidation can threaten the future of entire fleets, as New Bedford, Massachusetts, saw when Blue Harvest Fisheries, backed by a private equity firm, bought up vessels and other assets and then declared bankruptcy a few years later, leaving a smaller fleet and some local business and fishermen unpaid for their work. A company with local connections bought eight vessels from Blue Harvest along with 48 state and federal permits the company held.

    New challenges and unchanging risks

    While there are signs of recovery for New England’s fisheries, challenges continue.

    Warming water temperatures have shifted the distribution of some species, affecting where and when fish are harvested. For example, lobsters have moved north toward Canada. When vessels need to travel farther to find fish, that increases fuel and supply costs and time away from home.

    Fisheries managers will need to continue to adapt to keep New England’s fisheries healthy and productive.

    One thing that, unfortunately, hasn’t changed is the dangerous nature of the occupation. Between 2000 and 2019, 414 fishermen died in 245 disasters.

    Stephanie Otts receives funding from the NOAA National Sea Grant College Program through the U.S. Department of Commerce. Previous support for fisheries management legal research provided by The Nature Conservancy.

    ref. Checking in on New England fisheries 25 Years after ‘The Perfect Storm’ movie – https://theconversation.com/checking-in-on-new-england-fisheries-25-years-after-the-perfect-storm-movie-255076

    MIL OSI Analysis