Category: Europe

  • MIL-OSI: Service CU Launches Service Ventures to Drive Innovation in the Credit Union Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    PORTSMOUTH, N.H., June 23, 2025 (GLOBE NEWSWIRE) — Service Ventures, an independent investment arm of Service Credit Union, has officially launched to allow the credit union to drive its mission of improving members’ financial well-being while also helping their experience.

    Service Ventures invests in solutions that empower credit unions to deliver exceptional member experiences. The firm seeks partnerships with startups that share a commitment to enhancing service, accessibility, and operational excellence across the credit union landscape.

    In its early stage, Service Ventures has already made strategic investments in several innovative companies, including member engagement platform Larky, deposit management solution Modern FI CUSO, conversational AI assistant Posh AI, and wealth technology company WealthCabinet. More information on each of these companies can be found at service.vc/portfolio.

    Service Ventures is led by General Partner Brian Regan. Before joining Service Ventures in 2024, Brian co-founded Strake, a cloud optimization company. Prior to that, Brian worked for VMWare’s Security Business Unit, where he focused on mergers and acquisitions, partnerships, and business planning initiatives.

    “Service Ventures will fuel the next generation of companies that help credit unions better serve their members,” Regan said. “We’re focused on ethical, member-first solutions and are excited to bring visionary founders into the fold of opportunity within the cooperative banking space.”

    About Service Ventures

    Service Ventures is the independent venture capital arm of Service Credit Union, a $6+ billion financial institution serving more than 350,000 members worldwide. Service Ventures invests in innovative financial technology companies that align with the credit union philosophy of people helping people and fosters partnerships that drive meaningful impact across the financial services landscape.

    About Service Credit Union

    Service Credit Union is dedicated to providing a banking experience that improves our members’ lives and the communities in which they live. Established in 1957 to provide affordable credit to the Pease Air Force Base community, and now the largest credit union in New Hampshire, with over $6 billion in assets and 50 branch locations in the New England Region and Germany, we continue to provide a better future to our members all over the world. To learn more about Service Credit Union, please visit www.servicecu.org.

    Contact:
    Chris Banker
    cbanker@servicecu.org (603) 923-0904

    The MIL Network

  • MIL-OSI Global: Presidents of both parties have launched military action without Congress declaring war − Trump’s bombing of Iran is just the latest

    Source: The Conversation – USA – By Sarah Burns, Associate Professor of Political Science, Rochester Institute of Technology

    President Donald Trump is seen on a monitor in the White House press briefing room on June 21, 2025, after the U.S. military strike on three sites in Iran. AP Photo/Alex Brandon

    In the wake of the U.S. strikes on Iranian nuclear facilities on June 22, 2025, many congressional Democrats and a few Republicans have objected to President Donald Trump’s failure to seek congressional approval before conducting military operations.

    They note that Article 1 of the U.S. Constitution gives Congress the power to declare war and say that section required Trump to seek prior authorization for military action.

    The Trump administration disagrees. “This is not a war against Iran,” Secretary of State Marco Rubio told Fox News host Maria Bartiromo, implying that the action did not require approval by Congress. That’s the same view held by most modern presidents and their lawyers in the Office of Legal Counsel: Article 2 of the Constitution allows the president to use the military in certain situations without prior approval from Congress.

    By this reading of the text, presidents, as commander in chief, claim the power to unilaterally order the military to initiate small-scale operations for a short duration. Members of Congress may object to that claim, but they have done little to limit presidents’ unilateralism. What little they have done has not been effective.

    As I’ve demonstrated in my research, even though the 1973 War Powers Resolution attempted to constrain presidential power after the disasters of the Vietnam War, it contains many loopholes that presidents have exploited to act unilaterally. For example, it allows presidents to engage in military operations without congressional approval for up to 90 days. And more recent congressional resolutions have broadened executive control even further.

    President Franklin D. Roosevelt signs the U.S. declaration of war against Japan on Dec. 8, 1941.
    U.S. National Archives

    A long tradition of executive authority

    Presidents can even overcome the loopholes in the War Powers Resolution if the operation lasts longer than 90 days. In 2011, a State Department lawyer argued that airstrikes in Libya could continue beyond the War Powers Resolution’s 90-day time limit because there were no ground troops involved. By that logic, any future president could carry out an indefinite bombing campaign with no congressional oversight.

    While every president has bristled at congressional restraints on their actions, presidents since Franklin D. Roosevelt have successfully circumvented them by citing vague concerns like “national security,” “regional security” or the need to “prevent a humanitarian disaster” when launching military operations. While members of Congress always take issue with these actions, they never hold presidents accountable by passing legislation restraining him.

    President Trump’s decision to bomb Iranian nuclear sites without consulting Congress falls in line with precedent from both Democratic and Republican leaders for decades.

    Much like his predecessors, Trump did not, and likely will not, provide Congress with more concrete information about the legality of his actions. Nor are congressional lawmakers effectively holding him accountable.

    The push-and-pull between Congress and the president over military operations dates back to the 1941 Pearl Harbor attack, which led Congress to declare war on Japan. Before then, Congress had prevented the U.S. from joining World War II by enforcing an arms embargo and refusing to help the Allies prior to the attack on Hawaii. But afterward, Congress began allowing the president to take more control over the military.

    During the Cold War, rather than returning to a balanced debate between the branches, Congress continued to relinquish those powers.

    Congress never authorized the war in Korea; Harry Truman used a U.N. Security Council resolution as legal justification. Congress’ vote explicitly opposing the invasion of Cambodia didn’t stop Richard Nixon from doing it anyway. Even after the Cold War, Bill Clinton regularly acted unilaterally to address humanitarian crises or the continued threat from leaders like Saddam Hussein. He sent the military to Somalia, Haiti, Bosnia and Kosovo, among other places.

    After 9/11, Congress quickly gave up more of its power. A week after those attacks, Congress passed a sweeping Authorization for Use of Military Force, giving the president permission to “use all necessary and appropriate force against those nations, organizations, or persons he determines planned, authorized, committed, or aided the terrorist attacks that occurred on September 11, 2001.”

    In a follow-up 2002 authorization, Congress went even further, allowing the president to “use the Armed Forces … as he determines to be necessary and appropriate in order to defend national security … against the continuing threat posed by Iraq.” This approach provides few, if any, congressional checks on the control of military affairs exercised by the president.

    In the two decades since those authorizations, four presidents have used them to justify all manner of military action, from targeted killings of terrorists to the years long fight against the Islamic State group.

    Congress regularly discusses terminating those authorizations, but has yet to do so. If Congress did, the loopholes in the original War Powers Resolution would still exist.

    While President Biden claimed he supported the repeal of the authorizations, and supported more congressional oversight of military actions, Trump has made no such claims. Instead, he has claimed even more sweeping authority to act without any permission from Congress.

    As recently as 2024, Biden used the 2002 authorization as a legal rationale for the targeted killing of Iranian-backed militiamen in Iraq, a strike condemned by Iraqi leaders.

    Those actions may have ruffled congressional feathers, but they were in keeping with a long U.S. tradition of targeting members of terrorist groups and protecting members of the military serving in a conflict zone.

    Demonstrators outside the U.S. Capitol in January 2020 call on Congress to limit the president’s powers to use the military.
    AP Photo/Jose Luis Magana

    Threats of war

    During his first presidential term in 2020, Trump ordered a lethal drone strike against a respected member of the Iranian government, Major General Qassim Soleimani, the head of Iran’s equivalent of the CIA, without consulting Congress or publicly providing proof of why the attack was necessary, even to this day.

    Tensions – and fears of war – spiked but then slowly faded when Iran responded with missile attacks on two U.S. bases in Iraq.

    Now, the U.S. attacks on Iranian nuclear sites have revived both fears of war and renewed questions about the president’s authority to unilaterally engage in military action. Presidents since the 1970s, however, have effectively managed to dodge definitive answers to those questions – demonstrating both the power inherent in their position and the unwillingness among members of the legislative branch to reclaim their coequal status.

    This article is an updated version of a story published on Jan. 24, 2024.

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

    ref. Presidents of both parties have launched military action without Congress declaring war − Trump’s bombing of Iran is just the latest – https://theconversation.com/presidents-of-both-parties-have-launched-military-action-without-congress-declaring-war-trumps-bombing-of-iran-is-just-the-latest-259636

    MIL OSI – Global Reports

  • MIL-OSI: ILUS Provides Shareholder Podcast Update on Strategic Progress Across Its Portfolio Companies

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, June 23, 2025 (GLOBE NEWSWIRE) — Ilustrato Pictures International Inc. (OTC: ILUS) (“ILUS” or the “Company”), a mergers and acquisitions company focused on acquiring and scaling businesses in the public safety and industrial sectors, today released a shareholder podcast updating its progress, strategic shifts, and operational milestones across its portfolio companies.

    ILUS shared key updates regarding operational restructuring, financial improvements, and strategic goals as it enters a new phase of focused, scalable growth.

    To listen to the full shareholder podcast, please visit: https://youtu.be/d5DA9IPffK0

    ILUS Company Overview: Reset, Refocus, and Rebuild

    After navigating two challenging years in 2023 and 2024, ILUS is entering a new chapter of strategic growth and consolidation. Key themes from the shareholder podcast included:

    • Audits: ILUS and SAML have transitioned to a U.S.-based auditing firm, enhancing compliance and aligning with future uplisting goals. The company is currently finalizing a comprehensive two-year re-audit and related consolidations to bring all financial filings fully up to date.
    • Business Model Realignment: ILUS has restructured several legacy operations and consolidated its footprint, including relocating core operations to a central facility in Jacksonville, Florida, to streamline production and reduce costs.
    • Strategic Value Creation: ILUS continues to evaluate uplist, spinoffs, partnerships, and dividend-based structures to unlock and return shareholder value.

    ILUS also highlighted its positions in external entities, including Fusion Fuel Green PLC (Nasdaq: HTOO). Additionally, the podcast introduced ILUV Capital, a business development company (BDC) under consideration that may operate alongside ILUS to deliver alternative pathways for a return for ILUS Shareholders should it materialize.

    Portfolio Highlights

    SAML to ILUS Industries Transition

    SAML, an ILUS portfolio company, is currently undergoing a rebranding process:

    • A name change to ILUS Industries is underway.
    • Nick Link is serving as interim CEO, with the search for a permanent CEO currently in progress.
    • ILUS Industries will provide a focused platform for vertical growth and additional merger activity.

    Emergency Response Technologies (ERT)

    Will sit as a subsidiary under ILUS Industries, controlled by ILUS Industries

    ERT remains a core pillar of ILUS’s strategy, advancing innovation in the fire, public safety, and industrial markets.

    • Firebug Product Line: Production is underway at the Jacksonville facility, focused on wildfire response, battery fire suppression, and public safety, which will also alleviate any tariff risk.
    • E-Raptor EV Range: The desk top R&D and new design of the new electric vehicle are complete. Production will begin in Serbia, with partial U.S. assembly at ILUS’s Jacksonville site.
    • Expansion into Vertical Markets: ERT is actively developing distribution networks and product offerings in the industrial, safety, and agricultural sectors for this product and will seek an acquisition of a distribution network for this product.

    Fusion Fuel Green (HTOO)

    ILUS recently completed the sale of QIND to Fusion Fuel Green PLC (Nasdaq: HTOO):

    • As part of the realignment, JP Backwell transitioned from SAML to assume the role of CEO at HTOO.
    • ILUS now holds approximately 35 million shares of Nasdaq-listed HTOO equity as an asset on its Balance Sheet while:
      • The transaction eliminated QIND’s debt from ILUS’s balance sheet and relieved ILUS of related consolidation and reporting burdens.
      • ILUS retains indirect exposure to QIND’s future performance.

    Replay Solutions (Resource Recovery & E-Waste)

    A wholly owned subsidiary of ILUS Industries

    Replay is now launching its environmentally sustainable operations:

    • E-waste processing is set to begin in Serbia, with future expansion planned into additional regions, including Egypt, the UAE, and later the USA in 2026.
    • Equipment and machinery have been manufactured and are awaiting shipment to operational locations.
    • Has signed a non-binding Memorandum of Understanding (MOU) with a Dubai-based refinery for the potential acquisition of a substantial volume of marine sludge oil, intended for processing into recycled oil products and lubricants. Additionally, Replay is conducting due diligence on a second acquisition target. There is no guarantee that either of these acquisitions will materialize.
    • Research and development are underway for a tyre pyrolysis facility to diversify Replay’s recycling capabilities, for the conversion of tyres into oil and lubricants.

    Strategic and Financial Outlook

    • ILUS has materially strengthened its financial position through the QIND/ HTOO transaction and strategic restructuring.
    • The organization now manages a portfolio of increasingly bankable businesses supporting improved capital access.
    • With enhanced balance sheet strength and operational scale, ILUS is increasingly improving and readying itself for a potential IPO or uplist in the future.
    • ILUS intends to establish a BDC company called As ILUV Capital either within ILUS or standalone, with ILUS Shareholders receiving benefits in some way to be defined. As this matures, ILUS may be in a position to explore dividends or share buybacks, consistent with its vision of long-term shareholder return.

    Summary and Closing Remarks

    • ILUS has postponed the upcoming shareholder meeting to ensure stronger participation and alignment.
    • With two difficult years behind it, ILUS is focused on ensuring the next three years reflect sustained growth, transparency, and execution.
    • ILUS management expressed gratitude for shareholders’ support and patience and looks forward to connecting in person during planned meetings later this year.

    For further information on ILUS, please see its communication channels:

    Website: https://ilus-group.com
    X: @ILUS_INTL
    Email: IR@Ilus-Group.com
    Source: ILUS

    Contact:
    IR@Ilus-group.com
    (917) 522-3202)

    Forward-Looking Statement

    Certain information set forth in this press release contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided guidance to issuers regarding the use of social media to disclose material nonpublic information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls, and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC’s guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels: Website: https://ilus-group.com X: @ILUS_INTL

    The MIL Network

  • MIL-OSI United Kingdom: PM meeting with President Zelenskyy of Ukraine: 23 June 2025

    Source: United Kingdom – Executive Government & Departments

    Press release

    PM meeting with President Zelenskyy of Ukraine: 23 June 2025

    The Prime Minister welcomed President Zelenskyy to Downing Street this afternoon.

    The Prime Minister welcomed President Zelenskyy to Downing Street this afternoon.

    The Prime Minister began by sharing his condolences with President Zelenskyy on the deaths of five Ukrainians following Russian strikes overnight.

    Looking ahead to the upcoming NATO Summit in The Hague, the leaders welcomed the Secretary General’s focus on the Alliance’s steadfast support, including through significant pledges of financial support from Allies.

    The Prime Minister reiterated the importance of ensuring Ukraine’s Armed Forces had the defensive equipment they needed to push back Russian forces, while also working towards a just and lasting peace.

    Discussing how the UK and Ukraine could go further on military cooperation, the leaders discussed opportunities to expand industrial collaboration between defence companies in both countries.

    Turning to Coalition of the Willing planning, the leaders agreed the grouping should convene virtually in the coming weeks to update members on next steps.

    Both looked forward to seeing one another again at The Hague Summit tomorrow.

    Updates to this page

    Published 23 June 2025

    MIL OSI United Kingdom

  • MIL-OSI USA: CFTC Staff Issues No-Action Letter Extension Regarding Non-U.S. Swap Dealers

    Source: US Commodity Futures Trading Commission

    CFTC Staff Issues No-Action Letter Extension Regarding Non-U.S. Swap Dealers | CFTC

    /PressRoom/PressReleases/9088-25
    Skip to main content

    June 23, 2025

    WASHINGTON, D.C. — The Commodity Futures Trading Commission’s Division of Market Oversight today issued a no-action letter extending the no-action position of CFTC Letter No. 22-14 concerning certain swap reporting requirements of Part 45 and Part 46 of the CFTC’s regulations.  

    The letter applies to certain non-U.S. swap dealers and non-U.S. major swap participants established in Australia, Canada, the European Union, Japan, Switzerland or the United Kingdom, that are not part of an affiliated group in which the ultimate parent entity is a U.S. swap dealer, U.S. major swap participant, U.S. bank, U.S. financial holding company or U.S. bank holding company.  

    -CFTC-

    MIL OSI USA News

  • MIL-OSI Africa: African Island States Advance Ocean Partnerships and Finance Innovation at United Nations (UN) Ocean Conference


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    In a high-profile gathering during the Third United Nations Ocean Conference (UNOC3), the African Island States Climate Commission (AISCC), in partnership with the United Nations Economic Commission for Africa (ECA) and the Indian Ocean Commission (IOC), convened a High-Level Dialogue aimed at strengthening ocean partnerships and mobilizing innovative finance to support sustainable development across African Small Island Developing States. With participation from ministers, ambassadors, and senior officials representing island nations, United Nations agencies, and global development partners, the Dialogue marked a significant step toward aligning regional leadership, blue economy priorities, and climate finance strategies in pursuit of Sustainable Development Goal 14 (SDG14).

    Held as an official side event in the UNOC3 Blue Zone, the Dialogue was guided by the theme “Strengthening Ocean Partnerships for Resilience and Sustainable Finance: Charting a Blue Future for African Island States and AIS SIDS.”

    Discussions emphasized the unique vulnerabilities of African Island States, the need for coordinated climate and ocean governance, and the urgency of unlocking scalable, long-term financing solutions tailored to the needs of island nations.

    Opening the event, Flavien Joubert, Chair of the AISCC and Minister of Agriculture, Climate Change and Environment for the Republic of Seychelles, described the conference as a unique opportunity for African Island States and Small Islands Developing States (SIDS) to demonstrate global leadership on ocean sustainability. He called for stronger cooperation across SIDS regions and emphasized the central role of the AISCC as an innovative platform for climate action and diplomacy. Minister Joubert highlighted existing partnerships with ECA, IOC, and the Green Climate Fund (GCF) as examples of how African island nations are working together to mobilize resources and build collective resilience. He reaffirmed Seychelles’ commitment to lead the AISCC in a spirit of solidarity and inclusion, “ensuring no island state is left behind.”

    United Nations Under-Secretary-General for Economic and Social Affairs, Li Junhua, who served as Secretary-General of both the UNOC3 and the Fourth International Conference on SIDS (SIDS4), reiterated the UN’s full support for African SIDS. He noted that the Monitoring and Evaluation Framework for the Antigua and Barbuda Agenda for SIDS (ABAS) is nearing completion, and that work is underway to establish governance mechanisms for implementing the Multidimensional Vulnerability Index (MVI). Li also pointed to reforms in the SIDS Partnership Framework as part of ongoing efforts to ensure more effective and accountable cooperation with the international community.

    Nassim Oulmane, Head of the Natural Resources, Green and Blue Economy Section at ECA, stated in his welcoming remarks that this Dialogue builds on momentum from key AISCC high-level events convened at the UNFCCC COP28, COP29, African Climate Summit, and 4th International SIDS Conference. He held that the region must continue strengthening regional and international cooperation, and unlock innovative, scalable solutions through tools like blue bonds and debt-for-ocean swaps, and other innovative mechanisms. “ECA, in partnership with AISCC, is proud to support initiatives like the RESIslands project, funded by the GCF,” he said. “Together, we are advancing integrated approaches to promote ocean health, sustainable development, and climate resilience—leaving no one behind.”

    In the ministerial panel, national leaders from across the region provided a grounded view of both challenges and opportunities. Nilda Borges da Mata, Minister of Environment, Youth and Sustainable Tourism of São Tomé and Príncipe, said that unity among African SIDS is key to advancing sustainable development.

    “When we speak with one voice, we gain strength. When we share knowledge, we gain resilience. And when we cooperate, we attract the resources we need,” she said. Borges da Mata reaffirmed her country’s support for the AISCC as a critical platform to promote regional cooperation on climate and ocean priorities.

    Guinea-Bissau’s Minister of Environment, Biodiversity and Climate Action, Viriato Soares Cassamá, announced that his country will host the next Ministerial Meeting of the AISCC later this year. He revealed the upcoming meeting as a decisive moment for the AISCC to launch a Joint Declaration on Oceans and Climate, a Sustainable Finance Action Plan, and new governance mechanisms that include women, youth, and local voices.

    Maria Ebiaca Moete, State Secretary of Finance, Planning and Economic Development of Equatorial Guinea, emphasized the importance of investment in locally led, community-based solutions. “We see the RESIslands Initiative as a key platform to channel investment into sustainable, locally led projects,” she said. Moete also called for the creation of a dedicated international funding mechanism for island states and urged development partners to design financing instruments that are simpler, more flexible, and more accessible for vulnerable island economies.

    Fabrice David, Junior Minister of Agro-Industry, Food Security, Blue Economy, and Fisheries of Mauritius, called for a shift in perception of SIDS from fragile to formidable. “This is a critical moment for SIDS to show leadership as Big Ocean States,” he said. “SDG14 remains the most underfunded of all global goals. That must change.” Minister David introduced the Blue Finance Hub initiative, developed with support from the Africa Natural Capital Alliance (ANCA) and FSD Africa, which he described as a promising model for catalyzing nature-positive investments in the blue economy, with potential for replication across other African island nations.

    The panel featured senior-level participation from Cabo Verde and Madagascar, too. In addition to the governmental interventions, the event included the United Nations Secretary-General Special Envoy for the Ocean, the Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD), the UN Resident Coordinator in Cabo Verde, as well as senior speakers from the Indian Ocean Commission, the Green Climate Fund, the African Union Development Agency (AUDA-NEPAD), the SIDS Hub at the Foreign, Commonwealth & Development Office of the United Kingdom, and the ANCA Secretariat of FSD Africa.

    Throughout the High-Level Dialogue, speakers stressed the urgency of rethinking the global financial system to respond more effectively to the realities of island nations, and the need for AIS SIDS to have a stronger voice in shaping international ocean and climate frameworks. The meeting reaffirmed the role of the AISCC as a unifying body for African Island States, driving forward shared strategies on SDG 14 and building a sustainable, climate-resilient blue future through partnership, innovation, and action.

    Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).

    MIL OSI Africa

  • MIL-OSI United Kingdom: Front line drone technology to fuel UK – Ukraine partnership

    Source: United Kingdom – Executive Government & Departments

    Press release

    Front line drone technology to fuel UK – Ukraine partnership

    A landmark agreement between the UK and Ukraine to share battlefield technology has been reached today, boosting Ukraine’s drone production and linking up the UK’s defence industry with the cutting-edge technology being developed on the front lines in Ukraine.

    A landmark agreement between the UK and Ukraine to share battlefield technology has been reached today, boosting Ukraine’s drone production and linking up the UK’s defence industry with the cutting-edge technology being developed on the front lines in Ukraine.

    Prime Minister Keir Starmer and President Zelenskyy reached the agreement during the Ukrainian leader’s visit to Downing Street today.

    Technology data sets from Ukraine’s front line are set to be plugged into UK production lines, allowing British defence firms to rapidly design and build, at scale, cutting edge military equipment available nowhere else in the world.

    Ukraine is the world leader in drone design and execution, with drone technology evolving, on average, every six weeks.

    The agreement will allow that data to be shared with UK firms to quickly build and produce large numbers of drones for Ukraine’s front lines. It will also ensure a defence dividend continues to be delivered across the country – boosting Ukraine’s defence with deliveries of new equipment, while also supporting British jobs. 

    Initial agreements between defence firms in both countries are expected to be rolled out in the coming weeks, with the aim of delivering Ukraine large numbers of battle-proven drones to continue to stave off Russia’s barbaric invasion over the coming months and years.

    Prime Minister Keir Starmer said:

    By harnessing Ukraine’s battlefield innovation and combining it with British industrial strength, we are not only accelerating support for Ukraine’s defence, we are also delivering security for working people through our Plan for Change.

    This agreement is not just about today’s fight, it’s about building the defence capabilities of tomorrow, together.

    The agreement, which covers the next three years, underscores the unbreakable friendship between the two countries, comes after the two leaders signed the 100-year partnership between the UK and Ukraine in January.

    The UK will also allocate up to £280m of bilateral assistance to Ukraine for financial year 2025-2026 today to keep the country in the fight and ensure Ukrainians living through Russia’s illegal invasion have access to vital support.  

    The funding will support humanitarian, energy, stabilisation, reform, recovery and reconstruction programmes. Today’s extra funding takes the UK’s non-military support to Ukraine since the start of the invasion to over £5bn. This includes £4.1bn in fiscal support, and over £1.2bn in bilateral assistance. 

    The industrial pilots and subsequent orders will be funded through the UK’s £4.5 billion of military support this year. It also delivers on the Strategic Defence Review’s recommendations for the UK Armed Forces to move towards a greater use of autonomy.

    Initially, the industrial partnership is expected to increase information and expertise sharing between the UK and Ukraine on drone-based air defence, but the agreement also paves the way for both countries to work on capabilities for the future, long after the war finishes.

    It comes after strong collaboration between UK and Ukrainian innovation and military teams and builds on the partnerships created through the UK’s joint leadership of the international drone coalition.

    The pilots and subsequent orders will be funded through the UK’s £4.5 billion of military support this year and the UK’s commitment to provide £3bn a year of military support to Ukraine in future years. It also delivers on the Strategic Defence Review’s recommendations for the UK Armed Forces to move towards a greater use of autonomy.

    Updates to this page

    Published 23 June 2025

    MIL OSI United Kingdom

  • MIL-OSI Russia: Chinese Foreign Minister Meets Former UK Prime Minister

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, June 23 (Xinhua) — Chinese Foreign Minister Wang Yi met with former British Prime Minister Tony Blair in Beijing on Monday.

    As Wang Yi, also a member of the Politburo of the CPC Central Committee, pointed out, China and the UK, as permanent members of the UN Security Council and world powers, should fulfill their international obligations, demonstrate responsibility and make contributions to world peace and development.

    Wang Yi recalled that last year, the leaders of the two countries held a telephone conversation and a face-to-face meeting, putting China-UK relations on the right track of improvement and development. According to him, China pays special attention to the UK’s commitment to a consistent, long-term policy based on mutual respect towards China.

    “China is willing to work with the UK to implement the important consensus reached by the leaders of the two countries, strengthen exchanges in various fields, enhance mutual understanding, and promote the healthy and stable development of China-UK relations,” the Chinese Foreign Minister said.

    T. Blair, for his part, noted that attempts to isolate China are doomed to failure and the world needs greater understanding of China. Both sides, he stressed, should intensify dialogue and exchanges at all levels of government and among various social circles, expand mutually beneficial cooperation, and promote sustainable and positive development of bilateral relations.

    On the Israeli-Iranian conflict, Wang Yi said differences between the countries should be resolved peacefully through dialogue and consultation, adding that Israel’s preemptive strike on Iran under the pretext of “potential future threats” and the US airstrikes on Iranian nuclear facilities monitored by the International Atomic Energy Agency send a wrong signal to the world that disputes can be resolved by force rather than negotiations, thereby setting a dangerous precedent with serious consequences.

    “All parties to the conflict should take measures to ease tensions and return to the path of political settlement through dialogue and negotiations to restore peace and stability in the Middle East,” Wang Yi concluded.

    Tony Blair said the UK was paying close attention to the conflict between Israel and Iran and called for a return to the path of negotiations through dialogue and diplomacy to quickly restore peace, security and stability in the region. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Breaking: Iran Launches Missile Attack on US Base in Qatar

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    DOHA, June 23 (Xinhua) — Qatar’s air defense systems responded to several missiles over the capital Doha on Monday after Iran announced it had launched a military operation against U.S. troops at Al Udeid Air Base in Qatar.

    According to Iran’s semi-official Tasnim news agency, Tehran has launched an operation called “Proclamation of Victory” targeting US bases in Iraq and Qatar. -0-

    MIL OSI Russia News

  • MIL-OSI Russia: Iran Launches Missile Attack on US Base in Qatar

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    DOHA, June 23 (Xinhua) — Qatar’s air defense systems intercepted several missiles over the capital Doha on Monday after Iran announced it had launched a military operation against U.S. troops at Qatar’s Al Udeid Air Base, Qatari officials said.

    As noted by the adviser to the Prime Minister, official representative of the Qatari Foreign Ministry Majid bin Mohammed al-Ansari, Qatar’s air defense systems successfully repelled the attack and shot down the Iranian missiles.

    Iran’s Islamic Revolutionary Guard Corps (IRGC) announced in a statement the launch of an operation called “Proclamation of Victory” targeting US bases in Iraq and Qatar.

    The IRGC has called Al Udeid Air Base “the headquarters of the US Air Force and the largest strategic asset” of the US in West Asia.

    “Iran will not, under any circumstances, leave any attacks on its territorial integrity, sovereignty and national security unanswered,” the IRGC statement emphasized.

    Ahead of the Iranian strikes, Qatar and the neighboring United Arab Emirates closed their airspace.

    Qatar says no casualties in Iranian attack. –0–

    MIL OSI Russia News

  • MIL-OSI United Nations: Non-Governmental Organizations Brief the Committee on the Elimination of Discrimination against Women on the Situation of Women in Afghanistan, Chad and Botswana 

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women was this afternoon briefed by representatives of non-governmental organizations on the situation of women’s rights in Afghanistan, Chad and Botswana, the reports of which the Committee will review this week.  The report of San Marino will also be reviewed this week, but there were no non-governmental organizations speaking on that country. 

     

    Non-governmental organizations speaking on Afghanistan raised concerns relating to restrictive laws against women, the ban on girls’ education, and gender-based crimes enacted by the de-facto authorities, among other issues. 

    Speakers for Chad raised issues including women’s low representation in political and public life, gender stereotypes, and the prevalence of female genital mutilation. 

    The speaker on Botswana discussed the criminalisation of sex workers, mistreatment of gender-based violence victims, and social protection gaps impacting women.

     

    No speakers took the floor in relation to San Marino.   

    The following non-governmental organizations spoke on Afghanistan: Musawah and Strategic Advocacy for Human Rights (SAHR); MADRE and CUNY School of Law; Gender Persecution Working Group (GPWG); Women’s International League for Peace and Freedom; and Afghanistan LGBTIQ+ Organization – ALO. 

    The following non-governmental organizations spoke on Chad: Lutheran World Foundation Chad; and Ligue tchadienne pour les droits des femmes (Chadian League for Women’s Rights).

    Success Capital Organization spoke on Botswana.

    The Committee on the Elimination of Discrimination against Women’s ninety-first session is being held from 16 June to 4 July.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 10 a.m. on Tuesday, 24 June to consider the fourth periodic report of Afghanistan (CEDAW/C/AFG/4).

     

    Statement by Committee Chair 

     

    NAHLA HAIDAR, Committee Chair, said this was the second opportunity during the present session for non-governmental organizations to provide information on States parties whose reports were being considered during the second week of the session, namely Afghanistan, San Marino, Chad and Botswana.  

    Statements by Non-Governmental Organizations on Afghanistan

    In the discussion on Afghanistan, speakers, among other things, said that since the Taliban assumed control of Afghanistan in 2021, Afghan women and girls had been facing increasing human rights violations.  The de facto authorities had issued decrees restricting women in all aspects of their social, cultural, political and economic life.  The 2024 law on the promotion of virtue and prevention of vice mandated ‘Sharia hijab’ covering the entire body and face of women, a prohibition on women to speak in public, and a strict male relative (mahram) requirement for women when leaving the house.  It created the institution of a morality police (muhtasib) to enforce the law, further increasing the risk of arbitrary detention and arrest by the de-facto authorities.  Among the rights that Afghan women and girls were cruelly denied were the rights to education, to work, and to freedom of peaceful assembly. 

    The Taliban’s near-total ban on girls’ education after grade six and its prohibition of women’s university attendance crushed the dreams of an entire generation.  Women had been dismissed from public employment and faced restrictions in the private sector.  Women in Afghanistan also faced extensive restrictions on mobility and employment, including through the de facto authorities’ interference in the hiring process of non-governmental organization employees.  Women had been stripped of autonomy, dignity, and the means to support themselves and their families.

    Since 2021, women lawyers had not been able to obtain or renew their licenses, and could not legally represent clients in court, including female gender-based violence survivors.  Women in court were forced to rely on male advocates to represent them, meaning they effectively had no access to justice.  The Taliban had also eliminated gender-based violence services and legal protections. 

    Since August 2021, the Taliban had institutionalised gender-based crimes and systematically oppressed women, girls, and lesbian, gay, bisexual, transgender and intersex persons in Afghanistan.  Lesbian, gay, bisexual, transgender and intersex women and transgender men had been subject to forced marriage to men and faced compounded barriers to fleeing gender violence because of mahram requirements.  The Taliban had subjected transgender women to torture, including sexual violence. 

    Women peacefully protesting these injustices had been beaten, detained and tortured, and had undergone surveillance.  The Taliban’s 2021 decree requiring permits for protests, which was used to silence women-led demonstrations, was a direct assault on freedom of assembly.  Taliban members publicly flogged women for purported “adultery” or for “running away from home.” 

    Women and girls were facing gender apartheid in Afghanistan.  United Nations Member States, regional bodies, and international institutions had a collective responsibility to ensure that the Taliban were held accountable for ongoing violations, especially those targeting the rights and freedoms of women and girls.  The Committee should call on Member States to support the International Criminal Court’s efforts to hold the Taliban accountable, and States’ efforts to bring Afghanistan before the International Court of Justice for rights violations, including under the Convention.  States should provide support to the ongoing investigation by the International Criminal Court, the establishment of an independent accountability mechanism, and the codification of gender apartheid as a crime under international law. 

    The Committee was urged to call on the de facto authorities to immediately repeal all decrees restricting freedom of expression, appearance, education and employment, including the mandatory hijab and mahram requirements; end women’s banishment from public spaces; end arbitrary imprisonment and torture, including sexual violence, against women human rights defenders; and demand the release of all women imprisoned for protest, speech or identity.  The de facto authorities in Afghanistan must dismantle systemic gender-based oppression by repealing all discriminatory edicts and fully implementing recommendations from United Nations human rights mechanisms. 

    Statements by Non-Governmental Organizations on Chad

    In the discussion on Chad, speakers among other things, commended the Government of Chad for the progress made in eliminating discrimination against women despite a very difficult environment.  The effective implementation of the Convention continued to be hampered by the consequences of decades of conflict, the persistence of armed violence in the east and south-east of the country, the massive movements of internally displaced persons and refugees, and the continuing humanitarian crisis.

    Following the recommendations made by the Committee to the Chadian State in 2011, several advances had been made through the adoption of laws, strategies and programmes aimed at protecting and promoting women’s rights, including the national gender policy of December 2011, law no. 003/PR/2025 on the prevention and punishment of violence against women and girls, and the adoption of a national action plan for the implementation of Security Council resolution 1325  (2000) by Chad.

    However, the percentage of women participating in public life, politics and the peace process remained low.  The Government of Chad was urged to review relevant legislation to ensure the full and effective participation of women in political and public life; secure the greater inclusion of women in the processes of consultation, national dialogue and reconciliation; and eliminate gender stereotypes and biases.

    Chadian women faced various obstacles such as gender stereotypes, discriminatory cultural norms, harmful religious doctrines, and lack of economic autonomy.  The perception of women’s economic activity by men as a potential source of dowry for a future co-wife was very common.  It was recommended that the Government strengthen the legal and institutional framework for the protection of the rights of women and girls by ratifying the Maputo Protocol.  The Government should also adopt a specific law against female genital mutilation, with effective implementation and monitoring mechanisms.

    According to the 2023 activity report of the Ministry of Women and Early Childhood, there were 241 cases of female genital mutilation, 500 cases of rape, 537 cases of sexual assault, 469 cases of sexual exploitation and 780 cases of early and forced marriage.  Female genital mutilation was still widely practised despite recommendations.  It was important for the Chadian Government to accelerate the adoption, promulgation and popularisation of the Code of the Family and its implementing decree.

    Statement by a Non-Governmental Organization on Botswana

    The speaker on Botswana said Botswana’s history as a peaceful democratic republic post-independence continued to shield its regressions in the respect and fulfilment of human rights.  Unequal distribution of income, electricity cuts, water shortages, and prohibitive connection of utilities for freehold land tenures continued to aggravate poverty. All the while, Botswana was characterised by femicide, technology assisted gender-based violence through social media, the criminalisation of sex workers, narrow legal provisions for abortion, unavailability of safe sex commodities in prisons, corruption, marital rape, and the lack of justiciability of socioeconomic rights despite ratifying the Maputo Protocol.

    Survivors of gender-based violence continued to be ignored and erased whilst also enduring police harassment and brutality at roadblocks despite some protections in law for gender diverse people.  Despite employment laws protecting termination from specific grounds of discrimination, no law protected the worker during probationary periods. Social protection gaps remained for women who were not poor enough for State provisions but were too poor to sustain any dignified life.  There needed to be better conditions, including ensuring that the Committee’s recommendations were accelerated, socialised with grassroots communities, and entrenched within the national gender machinery.

    Questions by Committee Experts

    A Committee Expert asked representatives from Afghanistan for critical analysis regarding the positive decrees, including the ban on forced marriages.  What kind of threats did women in exile face? 

    What obstacles were there to fighting female genital mutilation and child marriage in Chad? How were women’s inheritance rights impacted in Chad? 

    Another Expert asked about the status of the draft Code of the Family in Chad?  How was the plurality of laws playing out with a new Government?  What was the evaluation of the women, peace and security plan? 

    Regarding Botswana, what did the criminalisation of prostitution look like on the ground? Was there any information regarding the trafficking of women and girls?

    A Committee Expert asked if women in Afghanistan could own any property?  With the new law on guardians, how were women engaging with economic institutions? What was the level of participation of women in exports and trade? 

    For Chad, how was gender captured in the macro-economic policies of the country? Were there gender-formative actions, including for procurement and taxation?

    What was the status of the national human rights institution in Botswana?  Had the institution been able to register and become fully compliant with the Paris Principles?  What services did women receive from this institution? 

    Another Expert asked if women in Botswana could transfer cases from the customary court to the magistrate’s court, as per the amended act?

    Responses from Non-Governmental Organizations from Afghanistan

    Speakers from Afghanistan said for women human rights defenders in exile, the Taliban used their families and friends in the country as a weapon against them.  Those who lobbied for the Taliban in Europe also participated in acts of sexual violence and harassment.  The ban of forced marriages was an announcement and not true; the Taliban themselves forced girls into early marriage. 

    Women who had participated in the business sector were facing high taxation costs, and had a limited ability to attend trade events within and outside the country.  In Afghanistan, the sector was predominately operated by male business owners, meaning there was a lack of opportunities for women business owners.  Many women with disabilities now lacked access to the market and livelihood support. 

    Responses from Non-Governmental Organizations from Chad

    Speakers from Chad said women and girls continued to be victims of discrimination inside the family. The Persons and Families Code still had not been adopted.  It had been returned to the administration by the parliament for a rereading.  There were factors, including religious beliefs, which were oppressive; these remained obstacles to adopting this legislation. 

    Family matters were governed by a mix of local customs and civil codes inherited from the colonial period, exposing women and children to discriminatory practices.  Women were generally excluded from decision-making when it came to the peace process and typically participated only as figureheads. Just one woman had participated in peace negotiations.  If women participated in the economy, their savings were used as a dowry and men used this to acquire another woman.   

    There were legal texts in Chad but it was their application which was the issue. Impunity was an everyday issue, including for cases of gender-based violence.  The reform of the Family Code was still a big challenge.  The issue of gender was not understood as a concept in Chad and a lack of political commitment meant gender was not addressed in Chadian society.  There were obstacles and challenges when it came to female genital mutilation and child marriage.  While texts and laws set out punishments, in many communities these practices continued. Customary law trumped Government law. 

    Responses from a Non-Governmental Organization from Botswana

    The speaker from Botswana said petty crimes and other laws were used to detain sex workers. There had been documented evidence of sex workers experiencing sex harassment.  Discrimination against transgender and gender diverse sex workers was compounded.

    Botswana was a transit country, and it was easy to be mobile across border countries, where there was a limited tracking of movement.  The Office of the Ombudsman had been expanded to include a human rights mandate, but it was believed it was not fully compliant with the Paris Principles. Women human rights defenders were not explicitly covered, especially in terms of reports covered by the Ombudsman. Community knowledge remained low regarding certain legislation, and systemic data remained unavailable.

    ___________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

     

    CEDAW.25.016E

    MIL OSI United Nations News

  • MIL-OSI Security: Thirteen People Charged in Takedown of a Major Drug Trafficking Network

    Source: US FBI

    ALBANY, NEW YORK – Thirteen people have been charged and arrested for their roles in a New York City-based drug trafficking ring, with federal agents seizing nearly 500 kilos of cocaine.

    The announcement was made by United States Attorney John A. Sarcone III; Frank A. Tarentino III, Special Agent in Charge, New York Division, Drug Enforcement Administration (DEA); Craig A. Tremaroli, Special Agent in Charge, Albany Field Office, Federal Bureau of Investigation (FBI); and Steven G. James, Superintendent, New York State Police (NYSP). 

    On June 12, law enforcement officers, including from the NYSP, DEA and FBI, conducted searches at 24 locations in New York and New Jersey as part of an operation to break up a drug trafficking network that shipped drugs from California to New York City and then Upstate New York.  The searches resulted in the seizure of almost 250 kilos of cocaine, fentanyl pills, other drugs and paraphernalia, a firearm and more than $1 million in cash.  Law enforcement also made arrests in Georgia and Pennsylvania. 

    The searches and arrests on June 12 followed an 18-month-long investigation in which law enforcement seized more than 240 kilos of cocaine, 185 pounds of methamphetamine, and almost 700 pounds of marijuana. 

    United States Attorney John A. Sarcone III said: “Using an all-hands-on-deck approach, we have smashed a sophisticated, New York City-based drug trafficking organization that was pumping poison into our Upstate New York communities. This case demonstrates the federal government’s commitment to taking back our communities from the criminal organizations that have proliferated in recent years thanks to weak state laws and even weaker state legislators from New York City.”

    DEA Special Agent in Charge Frank A. Tarentino said: “Over the past year and a half, our DEA team, working alongside our dedicated law enforcement partners, have successfully targeted the Abdelhak drug trafficking organization which has plagued and poisoned our communities here in New York and across the Northeastern corridor with illicit narcotics. While these operations have made a significant impact dismantling this drug trafficking network’s criminal enterprise, the DEA’s mission is far from over. The DEA remains steadfast in our commitment to saving lives, and we will continue to pursue the drug cartels and those individuals responsible for flooding our neighborhoods with these poisonous drugs.” 

    FBI Special Agent in Charge Craig A. Tremaroli said: “This network’s reach was expansive – moving drugs from California to sell in communities within the Capital Region, North Country, Central New York, Western New York, and New York City. But the reach of our federal task forces is deeper, and these 13 individuals learned the hard way that the FBI, together with our law enforcement partners, will not stand idly by while criminals pedal drugs on our streets.” 

    NYSP Superintendent Steven G. James said: “This investigation and the arrests that followed reflect our unwavering commitment to protecting the public from the violence and devastation drug trafficking brings to our communities. These individuals were responsible for flooding our streets with lethal narcotics, putting countless lives at risk. By taking down this network, we have removed a serious threat to the safety of neighborhoods across New York. I thank our Troopers and all of our law enforcement partners for their tireless work to safeguard our state.”

    According to a criminal complaint, the following people are charged with conspiracy to distribute and possess with intent to distribute controlled substances:

    • Samer Abdelhak, aka “Semi,” age 35, of Fresh Meadows, New York;
    • Leon Chen, aka “Don Eladio,” 29, of Long Island City, New York;
    • Michael Harper, aka “Miz,” 38, of Corning, New York;
    • Anthony Medina, aka “Tank” and “Fatboy,” 28, of Painted Post, New York;
    • Broslloyd Campbell, 42, of Hewlett, New York;
    • Anthony Dixon Jr., 41, of Jackson, New Jersey;
    • Chaquill Foster, aka “Lo” and “Gucci,” 31, of Schenectady, New York;
    • Christopher Smith, aka “Boot,” 39, of Fresh Meadows, New York;
    • Jason Hogue, aka “Whispers,” 44, of Lake Placid, New York;
    • Christopher Christman, aka “Free,” “Fremont,” and “Puffy,” 42, of Fresh Meadows, New York;
    • Cesar Ariel Castro-Sanchez, aka “Dom R,” 31, of Palisades Park, New Jersey;
    • Jocelyn Foster, aka “Jozzy,” 29, of Amsterdam, New York; and
    • Mikell Butler, 34, of Schenectady, New York.

    Nearly all of the defendants have been charged with offenses that carry a minimum term of 10 years and up to life in prison.  A defendant’s sentence is imposed by a judge based on the particular statutes the defendant is convicted of violating, the U.S. Sentencing Guidelines and other factors.

    The charges in the complaint are merely accusations.  Each defendant is presumed innocent unless and until proven guilty. 

    The NYSP, the DEA’s Capital District Drug Enforcement Task Force, and the FBI’s Capital District Safe Streets Gang Task Force are investigating this case, with assistance from Internal Revenue Service-Criminal Investigation, U.S. Customs and Border Protection, the Sullivan County District Attorney’s Office, the Sheriff’s Offices in Fulton and Montgomery Counties, and the Police Departments in Colonie, Elmira, Gloversville, Johnstown, Niskayuna, Schenectady, and Amsterdam.  Assistant U.S. Attorneys Cyrus P.W. Rieck, Katherine Kopita and Nicholas Walter are prosecuting the case.

    This case is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) operation. OCDETF identifies, disrupts, and dismantles the highest-level criminal organizations that threaten the United States using a prosecutor-led, intelligence-driven, multi-agency approach. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

    MIL Security OSI

  • MIL-OSI Security: Campaign Treasurer Pleads Guilty to Embezzling Over $840,000

    Source: US FBI

    ALEXANDRIA, Va. – An Alexandria woman pled guilty today to embezzling campaign contributions from three federal candidates for political office and committing tax evasion.

    According to court documents, Katherine Margaret Buchanan, 59,  worked as a political campaign compliance consultant for more than 20 years for various political campaigns and political action committees (PACs). Typically, she held the title of “Treasurer” of the campaign or PAC. Beginning in 2020 and continuing to 2024, Buchanan used the access she had as treasurer to embezzle contributed funds from her clients and converted that money to her own personal use. Buchanan used campaign or PAC funds to make payments to her personal credit cards, used official campaign or PAC credit cards to make personal purchases, used campaign or PAC funds to pay third parties for her own personal enrichment, and transferred funds from campaign or PAC bank accounts into her personal bank accounts.

    Buchanan used the embezzled funds for such personal expenses as dining, landscaping, aesthetic services, a Peloton exercise bike, clothing, airline tickets to Italy, concert tickets and suites, landscaping, chartered yacht tours, and legal fees. Altogether, Buchanan misappropriated at least $840,006.98 in contributed funds from the various campaign committees and PACs for whom she served as treasurer.

    Buchanan also under-reported the income she received from 2017 through 2022 to the Internal Revenue Service to avoid paying taxes on it. This resulted in a total loss of unpaid federal taxes of $671,200.

    Buchanan is scheduled to be sentenced on Oct. 8 and faces up to five years in prison for each charge. Actual sentences for federal crimes are typically less than the maximum penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Erik S. Siebert, U.S. Attorney for the Eastern District of Virginia; Emily Odom, Acting Special Agent in Charge of the FBI Washington Field Office’s Criminal and Cyber Division; and Kareem A. Carter, IRS Criminal Investigation Special Agent in Charge of the Washington D.C. Field Office, made the announcement after U.S. District Judge Rossie D. Alston Jr. accepted the plea.

    Assistant U.S. Attorney Katherine E. Rumbaugh is prosecuting the case.

    A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:25-cr-150.

    MIL Security OSI

  • MIL-OSI NGOs: President Zelenskyy visits Chatham House to discuss defence and reconstruction of Ukraine

    Source: Chatham House –

    President Zelenskyy visits Chatham House to discuss defence and reconstruction of Ukraine
    News release
    jon.wallace

    The president discussed Ukraine’s military position, his hopes for the NATO summit, and more.

    President Volodymyr Zelenskyy visited Chatham House on Monday 23 June as part of a trip to the UK that included meetings with King Charles III and Prime Minister Keir Starmer. President Zelenskyy made the visit to discuss his country’s war effort and how to place additional pressure on Russia to end its war on Ukraine.

    The president’s main purpose in meeting UK government officials was to discuss defence cooperation with the UK. But during his closed-door session at Chatham House, held under the Chatham House Rule, the president took questions from journalists, investors, foreign policy experts and policymakers, on Ukraine’s military and economic outlook, his hopes for the forthcoming NATO summit in the Hague, US relations, and his ambitions for a just peace in Ukraine. 

    In his discussion with Chatham House experts, the president also discussed the think tank’s significant work on planning for Ukrainian rapid recovery and post-war reconstruction.

    Orysia Lutsevych, Head of Chatham House’s Ukraine Forum, said:

    ‘We were honoured to host the president today to better understand the evolution of the war and think together how Europe and Ukraine can join forces in defending against the Russian threat.

    ‘Chatham House’s Ukraine Forum closely follows current efforts to design an effective recovery framework and will take its new research on citizen-driven recovery to Rome’s Ukraine Recovery Conference in July.’

    In his opening remarks, President Zelenskyy said:

    ‘It’s important to be here at Chatham House and first of all in the United Kingdom…British people helped Ukraine at the very beginning of this war and are standing with us today and I am very thankful for this. Today I want to thank Keir Starmer.’
     

     

    MIL OSI NGO

  • MIL-OSI Economics: Panels established to review Canadian surtaxes, Chinese duties on farm and fish products

    Source: World Trade Organization

    DS627: Canada — Measures on Certain Products of Chinese Origin

    China submitted its second request for the establishment of a dispute panel with respect to the surtax measures imposed by Canada on certain products of Chinese origin, including electric vehicles and steel and aluminium products. Canada had said it was not ready to accept China’s first request for the panel at a DSB meeting on 23 May.

    China said it considers Canada’s measures inconsistent with provisions of the General Agreement on Tariffs and Trade (GATT). It added that it was open to constructive discussions and remains committed to resolving the dispute.

    It is unfortunate that China has included in its panel request claims related to certain solar products, critical minerals, semiconductors, permanent magnets and natural graphite imported from China, Canada said, noting that there are no Canadian surtax measures on these products. China has therefore failed to identify the specific measures at issue as required under the Dispute Settlement Understanding (DSU), Canada said.

    Canada said its surtax measures on electric vehicles and steel and aluminium products are justified under the GATT and that it was fully prepared to defend these measures. Canada remains committed to maintaining constructive dialogue with China even as the dispute moves to the panel stage, it added.

    The United States said that China responded to the surtaxes by imposing countermeasures in the form of additional duties on Canadian agricultural and fishery products.

    The DSB agreed to the establishment of the panel. 

    Australia, the European Union, India, Japan, the Republic of Korea, Malaysia, Norway, the Russian Federation, Singapore, Switzerland, Türkiye, the United Kingdom, Ukraine and the United States reserved their third-party rights to participate in the proceedings.

    DS636: China — Additional Import Duties on Certain Agricultural and Fishery Products from Canada

    Canada submitted its second request for the establishment of a dispute panel with respect to the additional import duties imposed by China on certain Canadian agricultural and fisheries products. China had said it was not ready to accept Canada’s first request for the panel at a special DSB meeting on 5 June.

    Canada said the import duties imposed by China represented a unilateral determination and trade countermeasures contrary to WTO rules. Canada moreover said that as the dispute concerns perishable goods, the case should be treated as urgent as provided by the DSU. Canada remains committed to maintaining constructive dialogue with China even as the dispute moves to the panel stage, it added.

    China replied that it regretted Canada’s decision to seek the establishment of a panel and opposed Canada’s claim that DSU provisions on urgency apply to this case. China said it will defend itself in the proceedings and is confident that its measures will be found consistent with WTO rules. It added that it remained open to engagement with Canada.

    The United States reiterated that the measures at issue are countermeasures imposed by China in response to Canadian measures China is challenging in DS627.

    The DSB agreed to the establishment of the panel. 

    Australia, the European Union, India, Japan, Norway, the Russian Federation, Singapore, Switzerland, Türkiye, the United Kingdom, the United States and Viet Nam reserved their third-party rights to participate in the proceedings.

    Appellate Body appointments

    Colombia, speaking on behalf of 130 members, introduced for the 88th time the group’s proposal to start the selection processes for filling vacancies on the Appellate Body. The extensive number of members submitting the proposal reflects a common interest in the functioning of the Appellate Body and, more generally, in the functioning of the WTO’s dispute settlement system, Colombia said.

    The United States said it does not support the proposed decision and noted its longstanding concerns with WTO dispute settlement that have persisted across US administrations. The United States emphasized that the dispute settlement process was meant to help members resolve specific disputes without creating new rules that alter rights and obligations under the covered WTO agreements. The US reiterated that fundamental reform of WTO dispute settlement is needed and that it will reflect on the extent to which it is possible to achieve such a reformed WTO dispute settlement system.

    More than 20 members took the floor to comment, one speaking on behalf of a group of members. Several members urged others to consider joining the Multi-party interim appeal arrangement (MPIA), a contingent measure to safeguard the right to appeal in the absence of a functioning Appellate Body. 

    Colombia, on behalf of the 130 members, said it regretted that for the 88th occasion members have not been able to launch the selection processes. Ongoing conversations about reform of the dispute settlement system should not prevent the Appellate Body from continuing to operate fully, and members shall comply with their obligation under the Dispute Settlement Understanding to fill the vacancies as they arise, Colombia said for the group.

    Dispute settlement reform

    The DSB Chair, Ambassador Clare Kelly (New Zealand), said that the General Council (GC) Chair Ambassador Saqer Abdullah Almoqbel (Kingdom of Saudi Arabia) had informed members in a 6 June communication that, regarding dispute settlement reform, his consultations have confirmed readiness to preserve and build on the progress already made, and to advance only when the time is ripe to make meaningful progress on key unresolved issues with the engagement of all delegations.

    The GC Chair also indicated that both the DSB Chair and the GC Chair will be closely monitoring the situation and will revert to members at the appropriate time. The DSB chair added that her door is open to delegations wishing to further discuss the matter.

    Surveillance of implementation

    The United States presented status reports with regard to DS184, “US — Anti-Dumping Measures on Certain Hot-Rolled Steel Products from Japan”,  DS160, “United States — Section 110(5) of US Copyright Act”, DS464, “United States — Anti-Dumping and Countervailing Measures on Large Residential Washers from Korea”, and DS471, “United States — Certain Methodologies and their Application to Anti-Dumping Proceedings Involving China.”

    The European Union presented a status report with regard to DS291, “EC — Measures Affecting the Approval and Marketing of Biotech Products.”

    Indonesia presented its status reports in DS477 and DS478, “Indonesia — Importation of Horticultural Products, Animals and Animal Products.” 

    Next meeting

    The next regular DSB meeting will take place on 25 July 2025.

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    MIL OSI Economics

  • MIL-OSI Economics: Verizon announces final results of its private exchange offers for 10 series of notes and related tender offers

    Source: Verizon

    Headline: Verizon announces final results of its private exchange offers for 10 series of notes and related tender offers

    NEW YORK, N.Y. –  Verizon Communications Inc. (“Verizon”) (NYSE, Nasdaq: VZ) today announced the final results of its Exchange Offers (as defined below) and its Cash Offers (as defined below).

    Exchange Offers

    The first transaction consists of 10 separate private offers to exchange (the “Exchange Offers”) any and all of the outstanding series of notes listed in the table below (as used in the context of the Exchange Offers and the Cash Offers (as defined below), collectively the “Old Notes”) in exchange for newly issued 5.401% Notes due 2037 of Verizon (the “New Notes”), on the terms and subject to the conditions set forth in the Offering Memorandum dated June 12, 2025 (the “Offering Memorandum”), the eligibility letter (the “Eligibility Letter”) and the accompanying exchange offer notice of guaranteed delivery (the “Exchange Offer Notice of Guaranteed Delivery” which, together with the Offering Memorandum and the Eligibility Letter, constitute the “Exchange Offer Documents”).

    The Exchange Offers expired at 5:00 p.m. (Eastern time) on June 18, 2025 (the “Exchange Offer Expiration Date”). The “Exchange Offer Settlement Date” with respect to the Exchange Offers will be promptly following the Exchange Offer Expiration Date and is expected to be June 25, 2025. In addition to the applicable Total Exchange Price (as defined in the Offering Memorandum), Exchange Offer Eligible Holders (as defined below) whose Old Notes are accepted for exchange will receive a cash payment equal to the accrued and unpaid interest on such Old Notes from and including the immediately preceding interest payment date for such Old Notes to, but excluding, the Exchange Offer Settlement Date. Interest will cease to accrue on the Exchange Offer Settlement Date for all Old Notes accepted, including those tendered through the Guaranteed Delivery Procedures (as defined in the Offering Memorandum).

    Unless otherwise defined herein, capitalized terms used under the heading Exchange Offers have the respective meanings assigned thereto in the Exchange Offer Documents.

    The table below indicates, among other things, the aggregate principal amount of each series of Old Notes that Verizon is accepting in connection with Verizon’s offer to exchange any and all of its outstanding notes listed below for New Notes:

    Acceptance Priority Level(1)

    Title of Security

    CUSIP
    Number(s)

    Principal Amount Outstanding

    Principal Amount Tendered for Exchange by the Expiration Date and Accepted(2)

    1

    1.450% Notes due 2026

    92343VGG3

    $838,579,000

    $1,689,000

    2

    Floating Rate Notes due 2026

    92343VGE8

    $212,932,000

    $4,987,000

    3

    4.125% Notes due 2027

    92343VDY7

    $2,903,541,000

    $316,360,000

    4

    3.000% Notes due 2027

    92343VFF6

    $569,992,000

    $66,073,000

    5

    4.329% Notes due 2028

    92343VER1/

    92343VEQ3/

    U9221ABK3

    $3,640,515,000

    $722,436,000

    6

    2.100% Notes due 2028

    92343VGH1

    $2,139,693,000

    7

    4.016% Notes due 2029

    92343VEU4/

    92343VET7/

    U9221ABL1

    $4,000,000,000

    $523,460,000

    8

    3.150% Notes due 2030

    92343VFE9

    $1,464,080,000

    $266,808,000

    9

    1.680% Notes due 2030

    92343VFX7/

    92343VFN9/

    U9221ABS6

    $1,098,195,000

    $270,138,000

    10

    7.750% Notes due 2030

    92344GAM8/

    92344GAC0

    $562,561,000

    $30,303,000

    (1) Subject to the satisfaction or waiver of the conditions of the Exchange Offers described in the Offering Memorandum, if the New Notes Capacity Condition (as defined if the Offering Memorandum) and/or the corresponding Cash Offer Completion Condition (as defined if the Offering Memorandum) is not satisfied with respect to every series of Old Notes, Verizon will accept Old Notes for exchange in the order of their respective Acceptance Priority Level specified in the table above (as used in the context of the Exchange Offers and the Cash Offers, each an “Acceptance Priority Level,” with 1 being the highest Acceptance Priority Level and 10 being the lowest Acceptance Priority Level). It is possible that a series of Old Notes with a particular Acceptance Priority Level will not be accepted for exchange even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase.

    (2) The principal amounts accepted as reflected in the table above are subject to change due to Old Notes that may be validly tendered pursuant to Guaranteed Delivery Procedures and not validly withdrawn prior to the guaranteed delivery date and accepted for exchange.

    Verizon is offering to accept for exchange validly tendered Old Notes using a “waterfall” methodology under which such Old Notes of different series will be accepted in the order of their respective Acceptance Priority Levels as listed in the table above, subject to a $2.5 billion cap on the maximum aggregate principal amount of New Notes that Verizon will issue in all of the Exchange Offers (the “New Notes Maximum Amount”). However, subject to applicable law, Verizon, in its sole discretion, has the option to waive or increase the New Notes Maximum Amount at any time.

    On the terms and subject to the conditions set forth in the Offering Memorandum, including the Cash Offer Completion Condition, Verizon is accepting for exchange all of the Old Notes validly tendered, including Old Notes for which Verizon received an Exchange Offer Notice of Guaranteed Delivery and that are delivered on or prior to the Guaranteed Delivery Date, of each series of Old Notes with Acceptance Priority Levels 1 through 5 and 7 through 10 (as used in the context of the Exchange Offers and the Cash Offers, the “Covered Notes”).  As described further below in relation to the Cash Offers, the purchase of all Old Notes of the series with Acceptance Priority Level 6 (as used in the context of the Exchange Offers and the Cash Offers, the “Non-Covered Notes”) tendered for purchase would cause Verizon to breach the Maximum Total Consideration Condition (as defined in the Offer to Purchase, and as increased as described below), and, accordingly, Verizon is rejecting the Non-Covered Notes from the applicable Cash Offer and the Cash Offer Completion Condition with respect to the Non-Covered Notes will not be satisfied. Because the Cash Offer Completion Condition will not be satisfied, Verizon is rejecting exchanges of Non-Covered Notes, including Non-Covered Notes for which Verizon received an Exchange Offers Notice of Guaranteed Delivery. Non-Covered Notes will be returned or credited without expense to the holders’ accounts promptly after the Expiration Date. The aggregate principal amount of Covered Notes that will be exchanged by Verizon on the Settlement Date is subject to change based on deliveries of Covered Notes pursuant to the Guaranteed Delivery Procedures described in the Offering Memorandum.

    On the terms and subject to the conditions set forth in the Offering Memorandum, Verizon expects to issue approximately $2.2 billion aggregate principal amount of New Notes due 2037 and, as such, Verizon considers the Minimum Issue Requirement (as defined in the Offering Memorandum) satisfied. Verizon will not receive any cash proceeds from the Exchange Offers. The actual aggregate principal amount of New Notes that will be issued on the Exchange Offer Settlement Date is subject to change, based on the amount of Old Notes delivered pursuant to the Guaranteed Delivery Procedures and satisfaction or waiver of the conditions set forth in the Offering Memorandum, including the Cash Offer Completion Condition.

    Verizon today announced that the New Notes Capacity Condition, as well as certain customary conditions to the Exchange Offers, including the absence of certain adverse legal and market developments, have been satisfied with respect to each series of Old Notes, and the Cash Offer Completion Condition (as defined in the Offering Memorandum) has been satisfied for each series of Covered Notes.

    If and when issued, the New Notes will not be registered under the Securities Act or any state securities laws. Therefore, the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. Verizon will enter into a registration rights agreement with respect to the New Notes.

    Only a holder who had duly completed and returned an Eligibility Letter certifying that it was either (1) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)); or (2) a person located outside the United States who is (i) not a “U.S. person” (as defined in Rule 902 under the Securities Act), (ii) not acting for the account or benefit of a U.S. person and (iii) a “Non-U.S. qualified offeree” (as defined below), was authorized to receive the Offering Memorandum and to participate in the Exchange Offers (such holders, “Exchange Offer Eligible Holders”).

    Global Bondholder Services Corporation is acting as the Information Agent and the Exchange Agent for the Exchange Offers. Questions or requests for assistance related to the Exchange Offers or for additional copies of the Exchange Offer Documents may be directed to Global Bondholder Services Corporation at (212) 430-3774.You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offers. The Exchange Offer Documents can be accessed at the following link: https://gbsc-usa.com/eligibility/verizon.

    Cash Offers

    The second transaction consists of 10 separate offers to purchase for cash (the “Cash Offers”) any and all of each series of Old Notes, on the terms and subject to the conditions set forth in the Offer to Purchase dated June 12, 2025 (the “Offer to Purchase”), the certification instructions letter (the “Certification Instructions Letter”) and the accompanying cash offer notice of guaranteed delivery (the “Cash Offer Notice of Guaranteed Delivery” which, together with the Offer to Purchase and the Certification Instructions Letter, constitute the “Tender Offer Documents”).

    The Cash Offers expired at 5:00 p.m. (Eastern time) on June 18, 2025 (the “Cash Offer Expiration Date”). The “Cash Offer Settlement Date” with respect to the Cash Offers will be promptly following the Cash Offer Expiration Date and is expected to be June 25, 2025.

    Unless otherwise defined herein, capitalized terms used under the heading Cash Offers have the respective meanings assigned thereto in the Tender Offer Documents.

    The table below indicates, among other things, the aggregate principal amount of each series of Old Notes that Verizon is accepting in connection with Verizon’s offer to purchase any and all of its outstanding notes listed below:

    Acceptance Priority Level(1)

    Title of Security

    CUSIP
    Number(s)

    Principal Amount Outstanding

    Principal Amount Tendered for Purchase by the Expiration Date and Accepted(2)

    1

    1.450% Notes due 2026

    92343VGG3

    $838,579,000

    $11,059,000

    2

    Floating Rate Notes due 2026

    92343VGE8

    $212,932,000

    $2,287,000

    3

    4.125% Notes due 2027

    92343VDY7

    $2,903,541,000

    $160,011,000

    4

    3.000% Notes due 2027

    92343VFF6

    $569,992,000

    $25,913,000

    5

    4.329% Notes due 2028

    92343VER1/

    92343VEQ3/

    U9221ABK3

    $3,640,515,000

    $126,677,000

    6

    2.100% Notes due 2028

    92343VGH1

    $2,139,693,000

    7

    4.016% Notes due 2029

    92343VEU4/

    92343VET7/

    U9221ABL1

    $4,000,000,000

    $106,476,000

    8

    3.150% Notes due 2030

    92343VFE9

    $1,464,080,000

    $42,536,000

    9

    1.680% Notes due 2030

    92343VFX7/

    92343VFN9/

    U9221ABS6

    $1,098,195,000

    $24,930,000

    10

    7.750% Notes due 2030

    92344GAM8/

    92344GAC0

    $562,561,000

    $2,818,000

    (1) Subject to the satisfaction or waiver of the conditions of the Cash Offers described in the Offer to Purchase, including if the Maximum Total Consideration Condition (as defined in the Offer to Purchase) is not satisfied with respect to every series of Old Notes, Verizon will accept Notes for purchase in the order of their respective Acceptance Priority Level specified in the table above. It is possible that a series of Old Notes with a particular Acceptance Priority Level will not be accepted for purchase even if one or more series with a higher or lower Acceptance Priority Level are accepted for purchase.

    (2) The principal amounts accepted as reflected in the table above are subject to change due to Old Notes that may be validly tendered pursuant to Guaranteed Delivery Procedures and not validly withdrawn prior to the guaranteed delivery date and accepted for purchase.

    Verizon is offering to purchase validly tendered Old Notes using a “waterfall” methodology under which such Old Notes of different series will be accepted in the order of their respective Acceptance Priority Levels as listed in the table above, subject to the Maximum Total Consideration Condition and the Exchange Offer Completion Condition (each as defined in the Offer to Purchase). However, subject to applicable law, Verizon, in its sole discretion, has the option to waive or increase the Maximum Total Consideration Condition at any time.

    Verizon has increased the Maximum Total Consideration Condition to the Cash Offers and, accordingly, the maximum aggregate amount of cash that Verizon will use to purchase all validly tendered, and not validly withdrawn, Old Notes in the Cash Offers (the “Maximum Total Consideration Amount,” as described in the Offer to Purchase) will be increased from $300 million to $500 million, which is an amount sufficient to allow Verizon to purchase all Covered Notes validly tendered, and not validly withdrawn, at or prior to the Cash Offer Expiration Date.

    On the terms and subject to the conditions set forth in the Offer to Purchase, Verizon is accepting for purchase all of the Old Notes validly tendered, including Old Notes for which Verizon received a Cash Offer Notice of Guaranteed Delivery and that are delivered on or prior to the Guaranteed Delivery Date, for each series of Covered Notes. Because the purchase of all Non-Covered Notes validly tendered in the Cash Offer would cause Verizon to breach the Maximum Total Consideration Condition (as increased as described above), Verizon is rejecting tenders of Non-Covered Notes, including Old Notes for which Verizon received a Cash Offer Notice of Guaranteed Delivery. Non-Covered Notes will be returned or credited without expense to the holders’ accounts promptly after the Expiration Date. The aggregate principal amount of Covered Notes that will be purchased by Verizon on the Settlement Date is subject to change based on deliveries of Covered Notes pursuant to the Guaranteed Delivery Procedures described in the Offer to Purchase.

    In addition to the applicable Total Consideration (as defined in the Offer to Purchase), Cash Offer Eligible Holders (as defined below) whose Old Notes are accepted for purchase will be paid accrued and unpaid interest on such Old Notes from and including the immediately preceding interest payment date for such Old Notes to, but excluding, the Cash Offer Settlement Date. Interest will cease to accrue on the Cash Offer Settlement Date for all Old Notes accepted in the Cash Offers, including those Old Notes tendered through the Guaranteed Delivery Procedures.

    Verizon today announced that the Exchange Offer Completion Condition has been satisfied for each series of Covered Notes and, except as noted in this release, all other conditions to the Cash Offers described in the Offer to Purchase, including the absence of certain adverse legal and market developments, have been satisfied with respect to each series of Old Notes.

    Only holders who were not Exchange Offer Eligible Holders (“Cash Offer Eligible Holders”) were eligible to participate in the Cash Offers. Holders of Old Notes participating in the Cash Offers were required to complete the Certification Instructions Letter and certify that they are Cash Offer Eligible Holders.

    Global Bondholder Services Corporation is acting as the Information Agent and the Tender Agent for the Cash Offers. Questions or requests for assistance related to the Cash Offers or for additional copies of the Tender Offer Documents may be directed to Global Bondholder Services Corporation at (212) 430-3774. You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Cash Offers. The Tender Offer Documents can be accessed at the following link: https://www.gbsc-usa.com/verizon.

    Verizon refers to the Exchange Offers and the Cash Offers, collectively, as the “Offers.”

    Verizon retained Barclays Capital Inc, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC to act as lead dealer managers for the Offers and Scotia Capital (USA) Inc., Truist Securities, Inc. and U.S. Bancorp Investments, Inc. to act as co-dealer managers for the Offers.

    This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to purchase any Old Notes. The Exchange Offers are being made solely pursuant to the Offering Memorandum and related documents and the Cash Offers are being made solely pursuant to the Offer to Purchase and related documents. The Offers are not being made to holders of Old Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to be made on behalf of Verizon by the dealer managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

    This communication and any other documents or materials relating to the Exchange Offers have not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000, as amended (the “FSMA”). Accordingly, this announcement is not being distributed to, and must not be passed on to, persons within the United Kingdom save in circumstances where section 21(1) of the FSMA does not apply. Accordingly, this communication is only addressed to and directed at persons who are outside the United Kingdom and (i) persons falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”)), or (ii) within Article 43 of the Financial Promotion Order, or (iii) high net worth companies and other persons to whom it may lawfully be communicated falling within Article 49(2)(a) to (d) of the Financial Promotion Order, or (iv) to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (such persons together being “relevant persons”). The New Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such New Notes will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on any document relating to the Exchange Offers or any of their contents.

    This communication and any other documents or materials relating to the Exchange Offer are only addressed to and directed at persons in member states of the European Economic Area (the “EEA”), who are “Qualified Investors” within the meaning of Article 2(e) of Regulation (EU) 2017/1129. The New Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such New Notes, will be engaged in only with, Qualified Investors. The Exchange Offer is only available to Qualified Investors. None of the information in the Offering Memorandum and any other documents and materials relating to the Exchange Offer should be acted upon or relied upon in any member state of the EEA by persons who are not Qualified Investors.

    “Non-U.S. qualified offeree” means:

    (i)       in relation to any investor in the European Economic Area (the “EEA”), a qualified investor as defined in Regulation (EU) 2017/1129 (as amended or superseded) that is not a retail investor. For these purposes, a retail investor means a person who is one (or more) of: (a) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or (b) a customer within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II;

    (ii)      in relation to any investor in the United Kingdom, a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 that is not a retail investor and that (a) has professional experience in matters relating to investments and qualifies as an investment professional within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Financial Promotion Order”), (b) is a person falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Financial Promotion Order, or (c) is a person to whom an invitation or inducement to engage in investment activity (within the meaning of the Financial Services and Markets Act 2000, as amended (the “FSMA”)) in connection with the issue or sale of any notes may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). For these purposes, a retail investor means a person who is one (or more) of: (x) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”); or (y) a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or

    (iii)      any entity outside the U.S., the EEA and the United Kingdom to whom the Exchange Offer may be made in compliance with all applicable laws and regulations of any applicable jurisdiction without registration of the Exchange Offer or any related filing or approval.

    Cautionary Statement Regarding Forward-Looking Statements

    In this communication Verizon has made forward-looking statements, including regarding the conduct and completion of the Offers. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as “will,” “may,” “should,” “continue,” “anticipate,” “assume,” “believe,” “expect,” “plan,” “appear,” “project,” “estimate,” “hope,” “intend,” “target,” “forecast,” or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated, including those discussed in the Offering Memorandum and Offer to Purchase under the heading “Risk Factors” and under similar headings in other documents that are incorporated by reference in the Offering Memorandum and Offer to Purchase. Holders are urged to consider these risks and uncertainties carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release, and Verizon undertakes no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. Verizon cannot assure you that projected results or events will be achieved.

    MIL OSI Economics

  • MIL-OSI NGOs: EU/Israel: ‘Timid’ review of EU-Israel Association Agreement a ‘greenlight to Israel’s genocide’

    Source: Amnesty International –

    Responding to the European Commission’s review of the EU-Israel Association Agreement which found ‘indications’ that Israel is breaching its human rights obligations, Eve Geddie the Director of Amnesty International’s European Institutions Office said:

    “Despite its timid wording, the European Commission finally states the obvious: Israel is breaching its human rights obligations under the Agreement. This is an indisputable fact that Amnesty International, international courts, UN bodies, independent experts, prominent Palestinian, Israeli and international NGOs, scholars, commentators and former diplomats have been saying for years.

    “It is unforgivable that it took the EU so long to launch this review and disturbing to see the EU fail to set out any measures it plans to take against Israel. Every day the EU delays meaningful action, is a greenlight for Israel to continue its genocide in the Gaza Strip and unlawful occupation of the whole Occupied Palestinian Territory (OPT).

    “The EU and its member states have an obligation to ban trade and investment that could contribute to Israel’s genocide against Palestinians in the Gaza Strip and other grave violations of international law, including the crime against humanity of apartheid against all Palestinians whose rights it controls.

    “Now that they have determined there are ‘indications’ that Israel is breaching human rights, there is no excuse for inaction or delays. Every deal that EU member states do with Israel in the meantime, leaves them at risk of being complicit in Israel’s grave violations of international law, including genocide.

    “Member states in favour of suspending the agreement must use all their diplomatic weight to ensure that opponents of the suspension, including Germany, fully understand the risk of complicity and the cruel toll on Palestinian lives of continued EU inaction. If the EU fails to live up to these obligations as a bloc, and seeks to shield itself from its clear legal obligations, its member states must unilaterally suspend all forms of cooperation that may contribute to violations of international law.”

    Background

    On 23 June 2025, the European Commission presented its review of the EU-Israel Association Agreement to EU foreign ministers. The review found ‘indications’ that Israel is breaching its human rights obligations but did not present any measures for the EU to take in response.

    Amnesty International has long called for a thorough, comprehensive, and credible review the Association Agreement in line with EU member states’ obligations to prevent trade and investment that contributes to maintaining Israel’s unlawful occupation of the OPT, as set out by the International Court of Justice’s Advisory Opinion of 19 July 2024 and obligations not to render aid or assistance to the commission of crimes under international law.

    MIL OSI NGO

  • MIL-OSI NGOs: New NATO defence commitments must not come at cost of human rights

    Source: Amnesty International –

    By Agnès Callamard, Secretary General of Amnesty International

    As NATO states meet in the Hague this week, they face tough decisions that will impact the lives of millions, or even billions, around the world. If, as widely expected, they commit to increased defence spending in response to Russia’s ongoing war of aggression in Ukraine, they must ensure this is allied with strong commitments and actual measures to enhance protection of human rights and international humanitarian law.

    Given the gravity of the crises engulfing the world and the need to seize every opportunity to demand that human rights protection be central to all responses, I will be representing Amnesty International at the NATO Public Forum that runs parallel to the summit, in which leaders and officials will engage with security experts, academics, journalists and NGOs.

    Upon launching Amnesty’s annual report a few weeks ago, I declared it the strongest warning the organization has ever issued. There are more conflicts raging today than at any time since World War Two, inequality is rampant – both within and between states – and states are hurtling into an unchecked arms race, in the first place artificial intelligence-powered. Without concerted and comprehensive action from governments, this historic juncture will mutate into historic devastation.

    The summit should result in a set of concrete measures to ensure that international humanitarian law is respected.

    Agnès Callamard, Secretary General of Amnesty International

    When NATO leaders sit down to discuss such challenges, they must carefully consider their responsibility to humanity.

    MIL OSI NGO

  • MIL-OSI Video: UN Charter, Secretary-General/Syria, Iran & other topics – Daily Press Briefing (23June 2025)

    Source: United Nations (video statements)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    ———————————

    Highlights:
    UN Charter
    Secretary-General/Syria
    Iran
    Central African Republic
    Occupied Palestinian Territory
    Lebanon
    Democratic Republic of the Congo
    Sudan
    Ukraine
    Haiti
    Security Council
    Climate in Asia
    Internet Governance Forum
    Senior Personnel Appointment
    Resident Coordinators
    International Days
    Office for Disarmament Affairs
    Briefings

    __________________________________________

    UN CHARTER
    Today, at 5:00 p.m., the Secretary-General will deliver remarks at a ceremony to welcome home the original UN Charter, 80 years after it was adopted.
    He will make remarks and point out that the Charter is more than parchment and ink; it is a promise of peace, a promise of dignity and cooperation among nations.
    He will say that today, as our world faces age-old challenges, and newer threats like the climate crisis and runaway technology, we have the tools and the norms of international law to guide us, starting with that Charter.

    SECRETARY-GENERAL/SYRIA
    In a statement issued today, the Secretary-General strongly condemned the terrorist attacks that took place on Sunday at the St. Elias Church in Damascus. He expressed his deepest condolences to the families of the victims and wishes a swift recovery to those injured.
    The Secretary-General reiterated that all perpetrators of terrorism must be held accountable. He took note that the Syrian interim authorities have condemned this attack and, after a preliminary investigation, attributed it to Islamic State of Iraq and Levant, ISIL. The Secretary-General called for a full investigation.
    The Secretary-General reaffirmed the commitment of the United Nations to supporting the Syrian people in their pursuit of peace, of dignity, and justice.
    Geir Pederson, the Special Envoy in Syria, also issued a statement on the same attack.

    Full Highlights:
    https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=23%20June%202025

    https://www.youtube.com/watch?v=NPeVJl4i2rA

    MIL OSI Video

  • MIL-OSI Video: UN Charter, Secretary-General/Syria, Iran & other topics – Daily Press Briefing (23June 2025)

    Source: United Nations (video statements)

    Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

    ———————————

    Highlights:
    UN Charter
    Secretary-General/Syria
    Iran
    Central African Republic
    Occupied Palestinian Territory
    Lebanon
    Democratic Republic of the Congo
    Sudan
    Ukraine
    Haiti
    Security Council
    Climate in Asia
    Internet Governance Forum
    Senior Personnel Appointment
    Resident Coordinators
    International Days
    Office for Disarmament Affairs
    Briefings

    __________________________________________

    UN CHARTER
    Today, at 5:00 p.m., the Secretary-General will deliver remarks at a ceremony to welcome home the original UN Charter, 80 years after it was adopted.
    He will make remarks and point out that the Charter is more than parchment and ink; it is a promise of peace, a promise of dignity and cooperation among nations.
    He will say that today, as our world faces age-old challenges, and newer threats like the climate crisis and runaway technology, we have the tools and the norms of international law to guide us, starting with that Charter.

    SECRETARY-GENERAL/SYRIA
    In a statement issued today, the Secretary-General strongly condemned the terrorist attacks that took place on Sunday at the St. Elias Church in Damascus. He expressed his deepest condolences to the families of the victims and wishes a swift recovery to those injured.
    The Secretary-General reiterated that all perpetrators of terrorism must be held accountable. He took note that the Syrian interim authorities have condemned this attack and, after a preliminary investigation, attributed it to Islamic State of Iraq and Levant, ISIL. The Secretary-General called for a full investigation.
    The Secretary-General reaffirmed the commitment of the United Nations to supporting the Syrian people in their pursuit of peace, of dignity, and justice.
    Geir Pederson, the Special Envoy in Syria, also issued a statement on the same attack.

    Full Highlights:
    https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=23%20June%202025

    https://www.youtube.com/watch?v=NPeVJl4i2rA

    MIL OSI Video

  • MIL-OSI USA: Crapo, Scott and GOP Colleagues Lead Effort to Strengthen Review of Foreign Land Purchases Near Sensitive U.S. Military Sites

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo

    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho) joined Senate Banking Committee Chairman Tim Scott (R-South Carolina) in an effort to strengthen national security by ensuring the Committee on Foreign Investment in the United States (CFIUS) can effectively review foreign land purchases near sensitive military, intelligence and national laboratory sites.

    “We must protect sensitive military and government sites from foreign adversaries pursuing intelligence activities on our own land,” said Senator Crapo.  “Idaho has multiple military installations and the acclaimed Idaho National Laboratory conducting vital research, development and training of critical national security efforts right here in our backyard, and increasing accountability about land sales around these sites is of utmost importance.”

    The Protect Our Bases Act, introduced by Senators Crapo, Scott, Mike Rounds (R-South Dakota), Thom Tillis (R-North Carolina), John Kennedy (R-Louisiana), Bill Hagerty (R-Tennessee), Katie Britt (R-Alabama), Pete Ricketts (R-Nebraska), Jim Banks (R-Indiana), Kevin Cramer (R-North Dakota), Bernie Moreno (R-Ohio) and Dave McCormick (R-Pennsylvania), would require CFIUS member agencies to annually update records of the military, intelligence and national laboratory facilities that should be designated as sensitive sites for national security purposes.  

    “The Chinese Communist Party’s efforts to infiltrate and surveil all parts of the U.S national security apparatus requires vigilance from our national security agencies.  This legislation will enhance the review of foreign real estate transactions near critical national security installations, helping ensure CFIUS has the information it needs to protect our homeland and keep our nation safe,” said Chairman Scott.

    “We must address the growing threat from the Chinese Communist Party and other hostile regimes trying to get close to our most sensitive military and intelligence sites,” said Senator Tillis.  “The Protect Our Bases Act ensures the Committee on Foreign Investment in the United States has the most up-to-date information on key U.S. national security locations so dangerous land purchases can be blocked well before they become security risks.”

    “Ensuring the safety and security of our military and government installations is a national priority,” said Senator Hagerty.  “For too long, foreign adversaries have tried to exploit America’s open real estate market and rule of law in an attempt to gain strategic footholds.  The Protect Our Bases Act gives our nation the tools to identify who is buying land near sensitive sites and stop transactions that could put the security of Americans at risk.”

    “As threats from our foreign adversaries, including the Chinese Communist Party, Iran and Russia, continue to escalate, it’s paramount that we secure our intelligence,” said Senator Britt.  “Allowing CFIUS to review foreign land purchases near sensitive military and government sites is just common sense.  Proud to join this legislation that takes a crucial step toward strengthening our national security and safeguarding our strategic advantages.”

    “There’s no reason why America’s adversaries should be able to buy land next to our military bases,” said Senator Ricketts.  “Farmland adjacent to sensitive sites should remain in the hands of American farmers and ranchers, not Communist China.  This commonsense bill will help to protect our troops, prevent espionage and counter our adversaries.”

    BACKGROUND:

    In 2022, Fufeng Group, a Chinese company with ties to the Chinese Communist Party, announced it would purchase land near Grand Forks Air Force Base in North Dakota.  CFIUS determined that it could not evaluate the transaction for national security risks because the U.S. Department of Defense had not listed the base as a sensitive site for national security purposes.  Although the City of Grand Forks ultimately blocked the transaction, the incident demonstrated a significant flaw in the review process of foreign land purchases.  CFIUS relies on its member agencies to provide updated information on sensitive military, intelligence and national laboratory sites in order to properly assess the security risk of foreign investment in our country.  If CFIUS member agencies do not appropriately update their site lists, CFIUS cannot ensure an accurate review.

    In addition to requiring agencies represented on CFIUS to provide updated records of the military, intelligence and national laboratory facilities that should be sensitive sites on an annual basis, the Protect Our Bases Act makes these records easier for CFIUS to use for national security reviews and requires CFIUS to submit an annual report to Congress certifying the completion of such reviews and the accuracy of its real estate listings.

    For bill text, click here.

    MIL OSI USA News

  • MIL-OSI Russia: Guatemala: Staff Concluding Statement of the 2025 Article IV Mission

    Source: IMF – News in Russian

    June 23, 2025

    A Concluding Statement describes the preliminary findings of IMF staff at the end of an official staff visit (or ‘mission’), in most cases to a member country. Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF’s Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, or as part of other staff monitoring of economic developments.

    The authorities have consented to the publication of this statement. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF Executive Board for discussion and decision.

    An International Monetary Fund (IMF) mission led by Mr. Alexander Culiuc visited Guatemala City during June 10-20, 2025 for the 2025 Article IV consultation. At the end of the visit, the mission issued the following statement:

    • Prudent macroeconomic management has supported Guatemala’s resilience, delivering low inflation, robust policy buffers and a sustained current account surplus. With rising external uncertainty and mounting risks, stronger, more inclusive growth and poverty reduction can be achieved by accelerating reform implementation and enhancing policy coordination.
    • Raising private investment from current low levels requires complementary public inputs—infrastructure, educated and healthy labor force, security—which can only be adequately delivered by simultaneously raising public spending and improving its quality.
    • Improving quality and efficiency of spending entails better budget formulation, targeting, execution and control, and swift implementation of the anti-corruption agenda. We welcome the authorities’ efforts in this regard.
    • In the short term, existing fiscal space enables financing higher levels of spending with debt, with greater reliance on domestic borrowing.
    • In the medium term, raising revenues—primarily via comprehensive tax policy reform—would revert deficits to around 2 percent of GDP to preserve debt sustainability while maintaining priority spending at adequate levels.
    • Other structural and governance reforms pursued by the authorities, including in the financial and labor sectors—particularly urgent in the case of the AML/CFT law—will help support private sector growth. Continued commitment to dialogue and consensus-building can sustain progress on key legislative initiatives.

    Recent Economic Developments, Outlook, and Risks

    Guatemala’s economy remains resilient despite rising external risks and domestic challenges. Real GDP grew by 3.7 percent in 2024, supported by strong private consumption. Inflation has eased significantly, with headline inflation falling to 1.7 percent in May 2025, while core inflation remains near 4 percent, and inflation expectations are well anchored. The current account surplus narrowed to 2.9 percent of GDP in 2024 as imports picked up, while remittances stabilized at 19 percent of GDP and international reserves reached US$27.1 billion. Public debt remains low—under 27 percent of GDP—and Guatemala is now only one notch below investment grade. Banguat kept its policy rate unchanged at 4.5 percent since the 25bps cut in November 2024.

    Guatemala endeavors an investment-biased fiscal expansion. The August 2024 supplementary budget prioritized infrastructure and social spending and targeted a deficit of 2.7 percent of GDP; the realized deficit was significantly lower at 1 percent of GDP. The 2025 budget continues this expansionary approach, with a further increase in infrastructure and social allocations. While the original budget targeted a deficit of 3.2 percent of GDP, a supplementary budget, specifying carryovers from 2024 and one-off pension payments, raised the budget deficit to a notably high 3.8 percent of GDP.

    The outlook for 2025 is encouraging; sustaining the growth momentum over the medium term will require steadfast policy implementation. Real GDP growth is projected at 3¾ percent in 2025, with the fiscal impulse expected to help cushion the effects of softening global demand and high uncertainty. Beyond 2025, growth is projected to slightly exceed 3½ percent, although an acceleration in public infrastructure execution and structural reforms could push both actual and potential growth higher in the outer projection years. Headline inflation is expected to gradually converge toward the monetary policy target, while the fiscal deficit is projected to remain elevated by historical standards at just below 3 percent of GDP through the medium term. The current account surplus is expected to narrow and eventually close, while public debt is projected to climb above 30 percent of GDP in the medium term.

    The balance of risks is tilted to the downside. On the domestic front, there is a risk that ongoing political tensions could impede progress on legislative initiatives. Nonetheless, important progress has been made over the past year—including the approval of the 2025 budget and the competition law—demonstrating the capacity for reform even in a complex environment. Externally, intensified and/or protracted global trade disputes would weigh further on investment sentiment, although Guatemala is somewhat better positioned to weather additional trade shocks than some regional peers. Further changes in U.S. migration policy—including the proposed 3.5 percent excise tax on remittances—could disrupt remittance-supported consumption. On the upside, lower net emigration also offers a window to boost domestic employment if accompanied by targeted efforts to expand job opportunities in the formal private sector.

    Fiscal Policy

    The 2025 expansionary fiscal stance is appropriate, as private demand is projected to soften in the remainder of the year. Structural bottlenecks and recently strengthened anti-corruption controls are likely to limit the execution of capital spending, with the deficit projected at around 2½ percent of GDP, well below the revised budget of 3.8 percent. The historically high (1.3 percent of GDP) transfers to Departmental Development Councils (CODEDEs) require close oversight and monitoring amidst concerns of elevated risks of misallocation and inefficient use. The authorities’ ongoing multi-institutional efforts to strengthen the transparency, accountability, monitoring of CODEDEs transfers and capacity of municipalities are welcome and should be sustained.

    A combination of revenue and expenditure reforms is needed in the medium term. Authorities should seek ways of reverting fiscal deficits closer to historical levels (around 2 percent of GDP) without jeopardizing the much-needed surge in public infrastructure and social spending. The tax authority (SAT) has made commendable steps in strengthening compliance through the rollout of mandatory electronic invoicing, enhanced border enforcement to combat smuggling, and more robust audits of high-income individuals and large corporations. Efforts to improve mobilization—in line with the now-public 2024 TADAT report—should continue and be complemented in the medium term by comprehensive tax policy reforms. On the expenditure side, strengthening institutional capacity for systematic expenditure reviews and embedding the National Development Plan into annual and multi-year budgets would align public spending with strategic priorities. A new Public Procurement law—currently under consideration—could alleviate bottlenecks in the execution of capital spending. Improved targeting in social programs would further increase their effectiveness. Strengthening the Medium-Term Fiscal Framework and multiannual budget planning underpinned by realistic, sector-informed projections will bolster confidence—including of market participants—in fiscal sustainability.

    A well-calibrated financing strategy would help the macro-policy mix. While solid creditworthiness enables the government to borrow externally on favorable terms, greater reliance on domestic financing under a sound medium term debt management strategy (MTDS) would (i) reduce real appreciation pressures (which already weigh on Guatemala’s external competitiveness), (ii) help develop the domestic financial market, (iii) reduce currency risks, and (iv) lower costs of monetary policy operation incurred by Banguat to maintain price stability. The mission also encourages the Ministry of Finance to consolidate domestic issuances, introduce shorter-maturity instruments to help develop the yield curve, and regularly publish the MTDS and annual borrowing plans.

    Monetary and Exchange Policies

    The current monetary policy stance is broadly appropriate, but there is scope to further strengthen monetary policy transmission. The ex-ante real policy rate is at 1 percent, within the estimated range for the neutral real rate (1–2 percent). Given prevailing uncertainty regarding the inflationary impact of recent U.S. tariff measures and potential disruptions to global supply chains, there’s scope in maintaining the current policy stance and waiting for greater clarity before making further adjustments. Estimated passthrough of the policy rate to deposit rates has recently increased. More can be done, including by advancing financial market development and competition and reducing reliance on reserve requirements for liquidity management. These efforts should be underpinned by improvements in the legal framework and market infrastructure supporting monetary policy operations.

    Banguat’s response to large remittances inflows is appropriate and requires closer coordination with MinFin to address ensuing sterilization costs. Banguat’s FX participation rule delivers a reasonable balance between enabling higher consumption and maintaining external competitiveness. The resulting external position is stronger than fundamentals and desirable policies, but this positive current account gap should be closed by raising investment. On the flip side, Banguat’s policy necessarily relies on costly liquidity sterilization operations to keep inflation in check. While recent international financial conditions have been supportive of Banguat’s profitability, these costs could be further reduced through higher reliance on domestic debt to finance the budget, and closer coordination with MinFin on liquidity management. In the long term, ensuring Banguat’s financial strength will require consistent enforcement of legal provisions mandating budget to cover central bank losses.

    Financial Sector

    Maintaining financial stability requires continued close monitoring of the system. Guatemala’s banking system remains sound, with solid capital and liquidity buffers and strong profitability. The authorities have made important progress in bolstering the regulatory and supervisory framework through enhanced credit risk regulations, more robust stress testing, broader regulatory coverage, and the inclusion—on a voluntary basis—of savings and credit cooperatives in the Credit Risk Information System. These efforts should be reinforced by expanding risk-based supervision and strengthening oversight of fintech and digital financial services. Adopting revisions to the 2002 Law on Banks and Financial Groups, transitioning to International Financial Reporting Standards, advancing the draft Secondary Market Law, approving the e-money law and continued implementation of other elements of the financial inclusion strategy are needed.

    Governance and Structural Agenda

    Strengthening governance and advancing structural reforms are critical to fostering inclusive growth and restoring public trust. Key legislative priorities include the adoption of a revised AML/CFT Law aligned with international standards, the Beneficial Ownership Law, the Public Procurement Law and the Law for the Protection of Whistleblowers to ensure secure reporting channels and legal safeguards. With GAFILAT mutual evaluation expected in 2027, further delays with the AML/CFT law could complicate Guatemala’s path to investment grade. Institutional progress—such as the creation of the National Commission Against Corruption and the rollout of probity offices across executive institutions—should be consolidated through a medium-term anti-corruption strategy. Accelerating infrastructure investment through amendments to the law on Partnerships for Development of Economic Infrastructure, and a new law on ports is essential to close persistent gaps and crowd in private investment. Continued efforts to formalize the economy and improve the business environment will help prepare the economy for the impact of lower net emigration on the labor market.

    The mission wishes to thank the Guatemalan authorities for their cooperation and openness in the exchanges throughout our visit and wishes them every success in their efforts to move the country towards a new equilibrium characterized by high, inclusive and sustainable growth.

    Guatemala: Selected Economic Indicators

     

     

    Projections

    2023

    2024

    2025

    2026

    2027

    2028

    2029

       (Annual percent change, unless otherwise indicated)

    Income and prices

    Real GDP

    3.5

    3.7

    3.8

    3.6

    3.6

    3.7

    3.8

    Inflation (average)

    6.2

    2.9

    2.4

    4.0

    4.0

    4.0

    4.0

    (In percent of GDP, unless otherwise indicated)

    External Sector

     

    Current Account Balance

    3.1

    2.9

    2.5

    1.7

    1.3

    0.7

    0.2

    Trade Balance (goods and services)

    -15.1

    -15.5

    -15.9

    -15.8

    -15.4

    -15.0

    -14.7

    Remittances

    19.0

    19.0

    18.8

    18.0

    17.1

    16.3

    15.5

    Financial Account (“+” = net lending)

    2.7

    2.5

    2.5

    1.7

    1.3

    0.7

    0.2

    Central Government Finances

    Total Revenues

    12.5

    12.4

    12.4

    12.4

    12.4

    12.4

    12.4

    Tax Revenues

    11.7

    11.8

    11.7

    11.7

    11.7

    11.7

    11.7

    Total Expenditure

    13.7

    13.4

    15.0

    15.1

    15.3

    15.2

    15.2

    Current

    11.2

    11.0

    11.8

    11.7

    11.9

    11.9

    12.0

    Capital

    2.5

    2.4

    3.2

    3.4

    3.4

    3.3

    3.2

    Primary Balance

    0.4

    0.7

    -1.0

    -1.1

    -1.2

    -1.0

    -1.0

    Overall Balance

    -1.3

    -1.0

    -2.6

    -2.8

    -2.9

    -2.8

    -2.8

    Central Government Debt

    Gross Central Government Debt

    27.2

    26.3

    27.1

    28.0

    28.9

    29.6

    30.2

    Source: Bank of Guatemala; Ministry of Finance; and Fund staff estimates and projections. 

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

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

    https://www.imf.org/en/News/Articles/2025/06/23/guatemala-staff-concluding-statement-of-the-2025-article-iv-mission

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI Russia: IMF Executive Board Concludes Bangladesh Combined Third and Fourth Reviews under the Extended Credit Facility, Extended Fund Facility, and Resilience and Sustainability Facility

    Source: IMF – News in Russian

    June 23, 2025

    • The IMF Executive Board concluded the combined third and fourth reviews of Bangladesh’s arrangements under the Extended Credit Facility (ECF) and Extended Fund Facility (EFF) and approved an extension, augmentation and rephasing of access. This decision provides Bangladesh with immediate access to about US$884 million.
    • The IMF Executive Board also concluded the combined Third and Fourth Reviews of Bangladesh’s arrangement under the Resilience and Sustainability Facility (RSF), making available about US$453 million to support the Bangladesh economy’s resilience to climate change.
    • Bangladesh’s program performance has been broadly satisfactory despite the difficult political and economic context and increased downside risks. Advancing the reform agenda is critical to restoring economic stability, protecting the vulnerable, and supporting inclusive and environmentally sustainable growth.

    Washington, DC: The Executive Board of the International Monetary Fund completed the combined Third and Fourth Reviews of Bangladesh’s arrangements under the Extended Credit Facility (ECF), the Extended Fund Facility (EFF), and the Resilience and Sustainability Facility (RSF). The Executive Board also approved an augmentation of SDR 567.19 million (53.2 percent of quota) for the ECF/EFF arrangements and a six-month extension. Completion of these reviews allows the authorities to immediately withdraw SDR 650.5 million (about US$884 million) under the ECF/EFF, and SDR 333.3 million (about US$453 million) under the RSF.[1]

    Further, the IMF Executive Board approved a modification of performance criteria and granted a waiver for the non-observance of the performance criterion related to the non-imposition and non-intensification of exchange restrictions, based on the temporary nature of the non-observance and the implementation of corrective measures.

    Bangladesh’s arrangements under the ECF/EFF/RSF  were approved on January 30, 2023, in an amount equivalent to SDR 2.5 billion (154.3 percent of quota or about US$3.3 billion) under the ECF/EFF and SDR 1 billion (93.8 percent of quota or about US$1.4 billion) under the RSF (PR no. 23/25)

    The augmentation approved by the Executive Board today brings the total financial assistance under the ECF and EFF arrangements to SDR 3,035.65 million (about US$ 4.1billion), alongside concurrent RSF arrangements of SDR 1 billion (about US$1.4 billion). The enlarged enhanced ECF/EFF is aimed at restoring macroeconomic stability, promoting inclusive growth, and protecting the vulnerable. The RSF arrangement has secured fiscal space needed to build resilience against climate risks.

    Bangladesh’s macroeconomic challenges have increased since the popular uprising in the summer of 2024, which led to the ouster of the previous government. The timely formation of an interim government has helped stabilize political and security conditions, fostering a gradual return to economic stability. However, the economic outlook has worsened due to persistent political uncertainty, continuation of tighter policy mix, rising trade barriers, and increasing stress in the banking sector.

    Program performance for the third and fourth reviews remains broadly satisfactory despite the difficult political and economic context. The authorities are fully committed to implementing necessary policies under the program and have recently pressed forward with critical reforms to increase exchange rate flexibility and boost tax revenues.

    The authorities have consented to the publication of the Staff Report prepared for this consultation.[2]

    Executive Board Assessment[3]

    Following the Executive Board’s discussion, Mr. Nigel Clarke, Deputy Managing Director, and Acting Chair, made the following statement:

    “Bangladesh’s economy continues to navigate multiple macroeconomic challenges. Despite a difficult environment, program performance has remained broadly on track, and the authorities are committed to implementing necessary policy actions and reforms. The IMF-supported programs are helping safeguard macroeconomic stability and protect the most vulnerable, while accelerating reforms to support resilient and inclusive growth.

    “Near-term policies should prioritize rebuilding external resilience and reducing inflation. The authorities’ recent steps to implement a new exchange rate regime and include revenue-enhancing measures in the FY2026 budget are welcome. A balanced policy mix—anchored in maintaining a tight monetary policy stance, greater exchange rate flexibility, and revenue-based fiscal consolidation—will support efforts to restore both external and internal balances.

    “Efforts to raise tax revenues and rationalize expenditures—including through subsidy reduction—are critical for creating the fiscal space needed to strengthen social, development, and climate initiatives. Sustained progress in reducing government subsidies to a fiscally sustainable level, along with enhanced public financial management, is essential to improving spending efficiency and mitigating fiscal risks.

    “Financial sector policy should prioritize safeguarding stability and addressing rising vulnerabilities. Developing a comprehensive, sequenced strategy to guide reforms is an immediate priority, followed by the swift implementation of the new legal frameworks to enable orderly bank restructuring while protecting small depositors.

    “Sustained structural reforms are essential for Bangladesh to achieve its goal of attaining upper middle-income status. Key priorities include diversifying exports, attracting greater foreign direct investment, strengthening governance, and enhancing data quality.

    “Building resilience to natural disasters is essential for achieving high and inclusive growth. The RSF’s focus on strengthening institutions and policy coordination as well as on enhancing the efficiency of climate-related spending remains critical, including in helping mobilize climate finance.”

    Bangladesh: Selected Economic Indicators, FY2022-27 1/

     

    FY22

    FY23

    FY24

    FY25

    FY26

    FY27

                 
           

    Projections

                 
                 

    Real GDP

    7.1

    5.8

    4.2

    3.8

    5.4

    6.2

        Consumption

               

         Private

    7.5

    2.0

    6.0

    6.0

    5.4

    5.4

         Public

    6.2

    8.5

    9.8

    4.1

    -4.3

    16.1

    Gross Capital Formation

    11.7

    2.2

    3.3

    -0.1

    5.8

    6.8

         Private

    11.8

    2.9

    4.3

    0.3

    3.3

    5.2

         Public

    11.1

    0.0

    -0.2

    -1.3

    14.9

    11.9

    Trade

               

         Exports of goods and services

    29.4

    8.0

    -17.1

    5.2

    19.8

    12.7

         Imports of goods and services

    31.2

    -9.8

    -4.6

    5.8

    11.6

    11.9

                 

     

    Prices

               

       GDP deflator

    5.0

    6.9

    6.9

    10.3

    6.2

    6.5

       CPI inflation (annual average)

    6.1

    9.0

    9.7

    9.9

    6.2

    6.3

       CPI inflation (end of period)

    7.6

    9.7

    9.7

    8.3

    6.5

    5.9

                 
                 
                 

     

    Central government operations (in percent of GDP)

    Total revenue and grants

    8.9

    8.2

    8.3

    8.7

    9.5

    10.0

    Of which: Tax revenue

    8.0

    7.3

    7.4

    7.7

    8.6

    9.2

    Total expenditure

    13.0

    12.7

    12.1

    12.8

    13.5

    14.5

    Of which: Annual Development Program (ADP)

    4.7

    4.3

    3.8

                 

    Overall balance (including grants)

    -4.1

    -4.5

    -3.8

    -4.2

    -4.1

    -4.5

    (excluding grants)

    -4.2

    -4.6

    -3.9

    -4.3

    -4.1

    -4.6

    Primary balance (including grants)

    -2.1

    -2.5

    -1.5

    -2.0

    -2.0

    -2.2

                 

        Public sector total debt 2/

    37.9

    39.7

    41.0

    40.7

    41.8

    42.1

    Of which: External debt

    15.4

    17.5

    18.6

    18.6

    19.2

    18.6

                 
                 

     

    Balance of Payments (in percent of GDP)

               

         Current account balance

    -4.0

    -2.6

    -1.4

    -1.0

    -0.7

    -0.9

              Trade balance

    -8.0

    -4.7

    -5.9

    -5.9

    -5.1

    -5.3

        Capital account balance

    0.1

    0.1

    0.1

    0.1

    0.1

    0.1

        Financial account balance

    3.6

    1.5

    1.0

    1.1

    1.4

    1.7

                   Foreign direct investment, net

    0.4

    0.4

    0.4

    0.2

    0.5

    0.6

    Gross international reserves (billions of U.S. dollars)

    33.4

    24.8

    21.7

    23.6

    29.0

            in months of next year’s imports

    5.0

    4.1

    3.3

    3.2

    3.5

    3.7

                 

     

    Monetary and Credit (in percent of GDP)

               

    Reserve money

    8.7

    8.5

    8.2

    8.2

    8.9

    9.1

    Broad money (M2)

    52.9

    50.7

    48.4

    45.0

    45.5

    46.4

    Credit to private sector

    36.6

    35.3

    34.5

    32.0

    31.7

    32.2

    Credit to private sector (percent change)

    13.7

    9.1

    8.8

    6.2

    10.7

    14.8

                 

     

    Savings and Investment (in percent of GDP)

               

        Gross national savings

    29.3

    29.9

    28.3

    28.7

    28.8

    28.8

        Public

    1.2

    0.3

    0.5

    0.3

    1.4

    1.5

        Private

    28.2

    29.7

    27.9

    28.4

    27.4

    27.2

                 

         Gross investment

    32.0

    31.0

    30.7

    29.6

    29.5

    29.7

         Public

    7.5

    6.8

    6.7

    6.4

    7.0

    7.3

         Private

    24.5

    24.2

    24.0

    23.2

    22.5

    22.4

                 

     

    Memorandum item:

               

    Nominal GDP (in billions of taka)

    39,717

    44,908

    50,027

    57,246

    64,116

    72,509

                 

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

    1/ Fiscal year begins on July 1 and ends on June 30.

    2/ Includes central government’s gross debt, including debt owed to the IMF, plus domestic bank borrowing by nonfinancial public sector and public enterprises’ external borrowing supported by government guarantees, including short-term oil-related suppliers’ credits.

    [1] SDR figures for the disbursed are converted at the market rate of U.S. dollar per SDR on the day of the Board approval.

    [2] Under the IMF’s Articles of Agreement, publication of documents that pertain to member countries is voluntary and requires the member consent. The staff report will be shortly published on the www.imf.org/bangladesh page.

    [3] At the conclusion of the discussion, the Managing Director, as Chair of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country’s authorities. An explanation of any qualifiers used in summings up can be found here: http://www.IMF.org/external/np/sec/misc/qualifiers.htm.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Randa Elnagar

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

    https://www.imf.org/en/News/Articles/2025/06/23/pr-25213-bangladesh-imf-concludes-combined-3rd-and-4th-reviews-under-the-ecf-eff-and-rsf

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI United Kingdom: Newly established Badenoch and Strathspey Transport Forum meets for the first time

    Source: Scotland – Highland Council

    The inaugural meeting of Badenoch and Strathspey’s Local Transport Forum took place today in Grantown on Spey.

    Representatives from community councils and partner organisations came together to discuss the scope and membership of the forum as agreed by the Badenoch and Strathspey Area Committee.

    Chair of the Badenoch and Strathspey Committee, Councillor Russell Jones, said: “I’m pleased to see community groups coming together to take forward the newly established Local Transport Forum which was agreed in April. The forum provides an opportunity for local people to share concerns and ideas, engage directly with transport operators and build strong relationships with partner organisations.

    “With many rural communities throughout Badenoch and Strathspey, transport is particularly important for this area and the forum will act as a central point of contact for transport issues and ensure that local people can be involved in the development of improved transport solutions, covering everything from active travel to buses and trains and linking all of these together. The aim is to support local people to move around our area more easily and when best suits them.

    “‘My ward colleagues and I will be actively involved in this forum at all times, and we look forward to working with Community Council representatives, partner organisations and transport providers. We are determined to see results for local residents, and I look forward to working with the community on this as Chair of the new Transport Forum.”

    Members of the Badenoch and Strathspey Committee agreed to establish the Local Transport Forum at the last committee meeting on 28 April. Regular meetings of the forum will take place after the summer recess, with venues alternating between Badenoch and Strathspey.

    23 Jun 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Whin Park Reopens After £500k Transformation

    Source: Scotland – Highland Council

    Whin Park, one of Inverness’s most cherished outdoor spaces, has officially reopened following a £500,000 transformation that has delivered a vibrant, inclusive, and modern play experience for children and families across the Highlands.

    Marking the occasion at the end of May, pupils from St Joseph’s and Muirtown Primary Schools, students from Millburn Academy, and pipers from Inverness Royal Academy joined Highland Council representatives for a celebratory ribbon-cutting event led by City Leader Cllr Ian Brown.

    “I’m delighted this project has been delivered,” said Cllr Ian Brown, Leader of Inverness and Area. “Thank you to everyone who contributed to the consultation, especially the young people. Their input has helped us create a sustainable, inclusive play space for all ages and abilities. We now have a park we can enjoy and be proud of.”

    Shaped by extensive community engagement, the winning design received overwhelming support during public consultation, with over 77% of respondents favouring it. The new features include a Nessie-themed interactive sculpture, Legend Seeker play ship, swing area, climbing birds’ nest, adventure mound with scramble net and tube slide, and the Highlands’ first Sona Interactive Dance Arch, which uses audio and gaming technology to encourage active play outdoors.

    Cllr Graham MacKenzie, Chair of the Communities and Place Committee, added: “Play and interaction are vital to the development of young people, and these much-needed upgrades ensure children of all abilities can enjoy the benefits of play in a safe and engaging environment.”

    The winning design was delivered by Jupiter Play & Leisure Ltd, with installation by Play Works Ltd.

    Michael Hoenigmann, Managing Director of Jupiter Play & Leisure Ltd, said: “We are delighted to have designed and built the new play area at Whin Park. This was an ambitious project, completed on time and within budget. We’ve worked closely with The Highland Council team to create a unique play environment that is inclusive, resilient to the Scottish climate, and packed with high-quality equipment that will be enjoyed for many years to come.”

    The project was funded by £234,988 from the Scottish Government Play Area Fund, £150,000 from the Inverness Common Good Fund, and £102,000 from the Community Regeneration Fund.

    Whin Park continues to offer the popular boating pond, miniature Ness Islands Railway, and on-site refreshments—now complemented by a modern, accessible, and exciting play area designed with children’s input at its heart.

    In addition to the play area transformation, the park’s public conveniences have also recently undergone refurbishment, providing accessible toilet facilities to support visitors and complement the wider improvements across the park.

    Highland Council would also like to thank local florist Flowers by Lee for kindly providing the ribbon used during the opening ceremony—adding a special finishing touch to the opening celebration.

    See the new park and watch the opening ceremony on our YouTube channel.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Planning for World Heritage in Highland wins Scottish Award

    Source: Scotland – Highland Council

    David Cowie and Nicole Wallace pictured with the “Best Plan” category award

    Planning for The Flow Country World Heritage Site has been recognised by an award from the Royal Town Planning Institute. The submission to RTPI’s Awards for Planning Excellence 2025 – Scottish round, submitted by The Highland Council, won against stiff competition in the ‘Best Plan’ category from National Planning Framework 4, the Hawick Place Plan and the Hagshaw Energy Cluster.

    In July 2024, UNESCO inscribed The Flow Country as a World Heritage Site, marking the site as globally significant, as important as the Great Barrier Reef or the Serengeti and worthy of protection and restoration. Globally it is the first peatland World Heritage Site. It is also Scotland’s first World Heritage Site inscribed purely for natural criteria, and only the sixth natural site in the UK.

    The award was presented to Highland Council representatives Nicole Wallace (Service Lead – Environment and Active and Sustainable Travel) and David Cowie (Principal Planner) at a ceremony held on Monday evening, 16 June at the Grassmarket Community Project in Edinburgh.

    Speaking after the event, Nicole Wallace said: “We are delighted to receive this recognition of planning for The Flow Country World Heritage Site. It is welcome acknowledgement of the planning position statement and heritage impact assessment toolkit published by the Council to guide development and protection. But it is also recognition of the efforts of the whole Flow Country Partnership that led the bid for UNESCO inscription of the site and the importance of addressing the challenges that lie ahead and maximising the opportunities to be gained from it.”

    Councillor Ken Gowans, Chair of The Highland Council’s Economy and Infrastructure Committee said: “Protecting The Flow Country is hugely important as part of the response to both climate and ecological emergencies. Planning has a key role in this protection, guiding decisions that protect the outstanding universal value of the site, whilst enabling appropriate development in light of community priorities.  It’s great for the team to receive this award and the boost it provides.”

    RTPI’s annual Awards for Planning Excellence showcase and celebrate the best plans, projects and people, recognising and highlighting the positive contribution planning professionals make in the communities they serve around the world. As one of the local winners, The Flow Country World Heritage Site will now be put forward for the RTPI Awards for Planning Excellence national awards that are judged later in the year.

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Highland Council to deliver housing energy efficiency upgrades with ECO funding

    Source: Scotland – Highland Council

    The Highland Council will deliver a transformative programme of energy efficiency upgrades across Council housing supported by a £9.2 million Energy Company Obligation (ECO) funding proposal secured by Union Technical.

    The funding proposal will deliver approximately 1,000 individual energy efficiency measures to Council owned properties across the Highlands, and the upgrades will focus on reducing carbon emissions, improving thermal comfort, and lowering energy bills for tenants.

    Councillor Glynis Campbell Sinclair, Chair of Highland Council’s Housing and Property Committee, said: “This is a fantastic programme which will allow us to improve the quality and condition of our properties for tenants throughout the Highlands. The programme is a crucial step towards decarbonising Highland Council housing and will ensure our tenants benefit from warmer and more efficient homes.”

    The programme includes:

    • Insulation to reduce heat loss and improve building envelope performance and enhance thermal retention
    • Installation of air source heat pumps (ASHPs) to replace old inefficient storage heaters and panel heaters.  These low carbon systems extract ambient heat from the air and are up to 300% efficient.
    • Solar photovoltaic (PV) systems to generate renewable electricity on-site, allowing tenants to benefit from generation at source and lowering tenant energy costs.

    The energy efficiency measures are also expected to significantly improve the Energy Performance Certificate ratings of properties, which will support the Council in meeting statutory targets such as the Scottish Housing Quality Standard and Energy Efficiency Standard for Social Housing.

    Additionally, the Council continues to deliver the Energy Efficient Scotland: Area Based Scheme (EES:ABS), funded by the Scottish Government, which provides support for owner occupiers and private rented tenants.  This programme offers funding for similar energy efficiency measures, subject to Scottish Government eligibility, and can help to lower fuel costs and improving living conditions for tenants.

    The Council continues to explore various external funding streams to support the ongoing delivery of energy efficiency measures across Council housing.

    More information is available on The Highland Council website.

    23 Jun 2025

    MIL OSI United Kingdom

  • MIL-OSI Canada: Prime Minister Carney meets with Prime Minister of Belgium Bart De Wever

    Source: Government of Canada – Prime Minister

    Today, the Prime Minister, Mark Carney, met with the Prime Minister of Belgium, Bart De Wever.

    Prime Minister Carney congratulated Prime Minister De Wever on taking office in February and emphasized the longstanding ties between Canada and Belgium.

    The leaders discussed expanding bilateral trade and investment, with a focus on advancing clean energy solutions such as nuclear and hydrogen, strengthening critical minerals supply chains, and deepening co-operation on defence procurement.

    They affirmed their support for Ukraine’s sovereignty and agreed on the imperative of achieving a just and lasting peace. The leaders also underscored their commitment to defence co-operation in support of security in Europe, particularly on NATO’s eastern flank.

    Prime Minister Carney and Prime Minister De Wever agreed to remain in close contact and looked forward to continuing discussions at the NATO Summit in The Hague, the Netherlands, later this week.

    Associated Link

    MIL OSI Canada News

  • MIL-OSI Europe: EU–Canada summit 2025: outcome documents

    Source: Council of the European Union

    At the 20th EU–Canada Summit held in Brussels on 23 June 2025, leaders of the EU and Canada reaffirmed their strong political, economic and strategic partnership through the adoption of a joint statement and the signature of a Security and Defence Partnership.

    MIL OSI Europe News

  • MIL-OSI Europe: EU–Canada summit 2025: outcome documents

    Source: Council of the European Union

    At the 20th EU–Canada Summit held in Brussels on 23 June 2025, leaders of the EU and Canada reaffirmed their strong political, economic and strategic partnership through the adoption of a joint statement and the signature of a Security and Defence Partnership.

    MIL OSI Europe News