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  • MIL-OSI USA: Sullivan Chairs Hearing on Combatting Chinese & Russian IUU Fishing Threat

    US Senate News:

    Source: United States Senator for Alaska Dan Sullivan

    06.12.25

    WASHINGTON—U.S. Senator Dan Sullivan (R-Alaska), chairman of the Senate Commerce, Science, and Transportation Subcommittee on Coast Guard, Maritime, and Fisheries, today chaired a hearing on the threat of foreign illegal, unreported, and unregulated (IUU) fishing to Alaska’s fishermen and coastal communities. The hearing focused on strategies to combat foreign IUU fishing, many of which are found in Sen. Sullivan’s Fighting Foreign Illegal Seafood Harvest (FISH) Act. These strategies include blacklisting offending vessels from U.S. ports and waters, bolstering the U.S. Coast Guard’s enforcement capabilities and partnerships, and advancing international and bilateral negotiations to achieve enforceable agreements and treaties. On April 30, 2025, the Senate Commerce Committee unanimously passed Sen. Sullivan’s FISH Act, co-led by Sen. Sheldon Whitehouse (D-R.I).

    The hearing featured testimony from a panel of expert witnesses, including Gabriel Prout, president of the Alaska Bering Sea Crabbers.

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    “There was a senior Russian official who publicly declared, ‘We know we’re at war with American fishermen.’…What more should we be doing with regard to the unfair competition with Chinese and Russian fleets?” Sen. Sullivan asked. “We’ve talked about their IUU practices, their slave labor practices. Another thing that happens is their governments heavily subsidize their fleet…What are the other things we can be doing and how has the ban on Russian seafood into the U.S. market, including the Chinese communist loophole that we also shut down, helped your industry and other fishermen throughout the country?”

    “The effect of IUU and the importation of it into our markets has been nothing short of devastating,” said Mr. Prout. “When Russia floods the market with illegal, under-priced crab, or any other seafood commodity for that matter, it puts downward pressure on our prices and destabilizes the processors. Processors within Alaska especially rely on numerous revenue sources of different seafood commodities…They use that method to stay afloat, diversifying their portfolio a little bit. If they take a major loss on crab or salmon, it really destabilizes their efforts and it threatens their whole operation. Additionally, fishermen then are potentially looking at a loss of a place to deliver, because the processors are unable to compete with the importation of IUU products, just because of the price difference that is associated with it.

    “As far as the impact of your efforts, it’s had a tremendous impact—banning the importation of Russian crab. One of the most notable products in Alaska, of course, is the Alaskan red king crab. This past season, myself and my family, and all the rest of the fishermen who participated in that, experienced record prices at the dock for their catch. I can confidently say that I believe that wouldn’t have taken effect had there still been a large importation of Russian product coming into the domestic market. So your efforts to stem the flow of that IUU [seafood] have been very obvious to my family and many of the fishermen within Alaska.”

    Other hearing witnesses included Gregory Poling, director and senior fellow of the Southeast Asia Program and the Asia Maritime Transparency Initiative at the Center for Strategic & International Studies (CSIS); Nathan Rickard, partner at Picard Kentz & Rowe; and Whitley Saumweber, director of the Stephenson Ocean Security Project at CSIS.

    Below is a full transcript of Senator Sullivan’s opening statement at the hearing.

    Today’s hearing will focus on international conflict, criminal activity, and, yes, even slave labor associated with the ocean. We’re particularly focused on the fight for fisheries resources, geopolitical flashpoints where conflict is likely to arise, and the role of both state and non-state actors involved in conflict with criminal activity in the fishing sector. And, of course, we want sustainable, lasting fisheries.

    Additionally, we’ll discuss measures being taken to address the growing challenges and criminal activity surrounding these resources and conflicts, and what more can be done. Illegal, unreported and unregulated fishing, also known as IUU fishing, poses a significant threat to global marine ecosystems, economies, sustainable fisheries, and food security.

    It is estimated that IUU fishing accounts for up to 20 percent of the global catch, which translates to global losses between $10 billion and $50 billion annually for fishing fleets that actually fish legally, like ours in America. The scale of IUU fishing varies by region, with some areas experiencing more severe impacts due to lax enforcement, corruption, and high demand for seafood. Of course, the Chinese Communist Party in China plays a significant role in this problem in the global fishing industry, and is the worst offender of IUU fishing, by far. No surprise.

    The Chinese government has provided billions of dollars in subsidies to its distant water fishing fleets, “gray fleets,” as we sometimes call them, enabling their fishing sector to grow exponentially. According to Global Fishing Watch, China operates approximately 57,000 fishing vessels—57,000—which accounts for 44 percent of the world’s total fishing activity.

    Operating in tandem with the Chinese military to protect its fishing fleet, the Chinese fishing boats benefit from the protection of the Chinese Coast Guard and Navy, ensuring their ability to pilfer resources around the globe. If you care about the environment and healthy ecosystems, this should be a top concern of yours. China is ravaging our oceans.

    The scale of China’s fishing activities raises concerns about the sustainability of global fish stocks around the world, and the geopolitical tensions that can arise from maritime disputes.

    China is a concern, but Russia is as well. Close to Alaska, Russian and other vessels conduct IUU fishing near our exclusive economic zone, our EEZ. Although Russia banned imports of U.S. seafood into Russia over ten years ago, Russia has been able to bring their seafood into the U.S., sometimes using loopholes through China as recently as late 2023.

    IUU fishing is not an issue just for the United States. U.S. fisheries are the most sustainable fisheries in the world, but sustainably sourced, legally caught, high quality seafood can’t compete with illegally sourced seafood that is being plundered from our oceans.

    I might add, due to some great reporting—and I’m going to reference it here in this hearing—from Politico magazine, [and] the New Yorker, China also uses slave labor on many of its fishing vessels. Pretty hard to compete against slave labor if you’re an American fisherman. IUU fishing not only distorts the true cost of seafood sold in markets, but it is often linked overseas with transnational crime, forced and slave labor, and even human and drug trafficking.

    The key to preventing IUU fishing is to lead international efforts to address the issue at its sources globally. Through the years, Congress and the executive branch, Democrats and Republicans, have worked together with global partners and have focused on IUU fishing. I’m proud to see my colleague and friend, Senator Whitehouse, here. He and I recently introduced our Fighting Foreign Illegal Seafood Harvest, also known as the FISH Act, a bipartisan bill that just recently in this committee passed unanimously. It puts IUU fishing vessels on a blacklist, raises costs for IUU vessel owners and importers, and supports increased Coast Guard enforcement and work with our partners. It builds on previous bipartisan legislation that this committee has championed, particularly Senator Wicker’s Maritime Safe Act.

    In April, President Trump signed an executive order entitled, “Restoring American Seafood Competitiveness.” My office, my team and I were proud to work closely with the Trump administration on this important executive order. This order aims at strengthening measures to combat IUU fishing, including preventing IUU seafood from entering the U.S. market, and supporting international efforts to address the issue at its source. We look forward to working with the administration on these efforts.

    But it’s not all bad news. This is, after all, the subcommittee in charge of the Coast Guard. I believe we are going to be embarking on a golden age for our Coast Guard. In the budget reconciliation bill right now, there is $24.6 billion focused on the Coast Guard of the United States. That will likely be the biggest investment in the Coast Guard in the history of the United States of America. There are a lot of good things happening with regard to our Coast Guard.

    The U.S. has a vital role to play, a leading role to play, in combating IUU fishing through regulatory measures, international cooperation, consumer awareness, and passing the FISH Act. By preventing IUU seafood from entering our market, the U.S. can help protect legitimate fishermen, some of whom we’ll hear from today, and promote sustainable fishing practices worldwide.

    Below is a full transcript of Mr. Prout’s opening statement at the hearing.

    Thank you for the opportunity to appear today to discuss the devastating impact of IUU—illegal, unreported and unregulated—crab fishing, and unfair Russian and Chinese trade practices on American crab fishermen and coastal communities. I’d like to first start by acknowledging and thanking Senator Sullivan, as well as Senator Cantwell, for their long-standing support of independent crab harvesters like myself. Thank you. My name is Gabriel Prout and I am the President of Alaska Bering Sea Crabbers. I represent the majority of quota and vessel owners harvesting king, snow, and bairdi crab in the Bering Sea. I’m also a third-generation commercial fisherman and a vessel owner from Kodiak, Alaska, a seafood powerhouse where hundreds of millions of pounds of product cross the docks each year.

    For nearly 20 years, I’ve worked in the Bering Sea and Gulf of Alaska with two of my brothers, continuing a livelihood passed down from our father and grandfather. In recent years, the collapse of snow crab and red king crab stocks hit us hard. Boats sat tied up, crews were out of work, and families like mine faced deep uncertainty. This fishery isn’t just our livelihood, it is our identity. Crab stocks now appear to be rebounding, but we still need action to protect small fishing families, like mine, especially from the harms of IUU fishing.

    For over 20 years, Russian IUU crab has undercut the economic foundation of our industry. A 2021 U.S. International Trade Commission report found that, in 2019, over 20 percent of U.S. imports of snow and king crab from the Russian far east came from IUU sources. Fortunately, U.S. imports of Russian crab have largely ceased thanks to the embargo that began under President Biden, continued under President Trump, and was strengthened by Senator Sullivan’s work to close the China trans-shipment loophole.

    Still, Russia’s IUU crab continues entering global markets through other channels, suppressing prices and creating unfair competition for U.S. harvesters who follow the law. Russia’s actions extend far beyond IUU. The following are just a few key points.

    It has heavily subsidized its seafood industry to deliberately undercut U.S. competitors; flooded international markets with underpriced seafood following its 2022 invasion of Ukraine to help fund its war; and contributed to an estimated $1.8 billion in losses for the Alaska seafood industry during 2022 and 2023.

    There are also national security concerns. Russian crab is being funneled into the global market through North Korean smuggling networks, where it’s reprocessed and relabeled in China. This collaboration between two sanctioned regimes undermines trade restrictions and raises serious concerns about enforcement and global seafood supply chain integrity.

    Based on years of experience witnessing the impact of Russian IUU on Alaskan crabbers, I respectfully urge the following actions.

    One, expand the seafood import monitoring program and ensure it focuses on species at highest risk for IUU fishing; [and] mandate country-of-origin labeling, also known as “cool labeling” that also applies to cooked crab products.

    Two, expand economic sanctions and trade restrictions, which would extend and strengthen sanctions on Russian-origin seafood and ensure enforcement on the ban of Russian seafood entering through third countries, especially China.

    Expand intelligence sharing agreements with allies. This is under point three. Increase international cooperation and enforcement, increase support for international bodies working to combat IUU fishing, and push for stronger enforcement of port state measure agreements, especially with countries still importing Russian crab around the world.

    Four, provide economic relief to affected communities, establish emergency relief similar to the Seafood Trade Relief Program, and create low-interest loans to help crabbers and fishing fleets modernize gear and remain competitive throughout the world; prioritize support for small, independent, family-owned fishing operations like those that I represent.

    And five, strengthen U.S. enforcement against IUU fishing. Congress should pass Senate Bill 688, the FISH Act, and provide full funding and direction for the U.S. Coast Guard and NOAA to expand patrols, inspections, and enforcements targeting IUU threats.

    For over two decades, Russian IUU crab has undermined American fishermen who follow the rules, invest in sustainability, and support our coastal communities. This isn’t just about statistics. It’s about lost livelihoods, struggling towns and an industry fighting for survival.

    Congress has the opportunity to protect American harvesters and ensure global seafood is harvested legally and sustainably. Thank you for your attention to this critical issue affecting thousands of American fishing families. I look forward to your questions and working with the Committee on effective solutions.

    MIL OSI USA News –

  • MIL-OSI Russia: Breaking: Israel Launches Preemptive Strike on Iran, Explosions Rock Tehran

    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

    TEHRAN/JERUSALEM, June 13 (Xinhua) — Israeli Defense Minister Israel Katz said on Friday that Israel launched a “preemptive strike” on Iran and declared a state of emergency throughout the country.

    Powerful explosions were heard in the capital Tehran on Friday morning, Iranian state television IRIB reported. Their source has not yet been determined. –0–

    MIL OSI Russia News –

  • MIL-OSI USA: Warnock Pushes New Effort to Strengthen Mental Health Resources in Schools

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Today, Senator Reverend Warnock reintroduced the Advancing Student Services in Schools Today (ASSIST) Act to establish a new grant program to hire and retain mental health providers in schools

    Senator Warnock has long been an advocate for strengthening mental health resources and for expanding Medicaid, which would provide mental health resources to millions who fall in the health care coverage gap

    Senator Reverend Warnock: “We know the importance of treating our mental health just as we treat our physical health: free from stigma, which is why the ASSIST Act is so important. We must do everything we can to provide our students with the tools to battle the mental health epidemic”

    Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA) reintroduced the Advancing Student Services in Schools Today (ASSIST) Act. The legislation would increase federal Medicaid funding for school-based mental health services and establish a grant program at the Department of Health and Human Services (HHS) to hire and retain mental health professionals in schools, helping increase mental health services, resources, and accessibility.

    “We know the importance of treating our mental health just as we treat our physical health: free from stigma, which is why the ASSIST Act is so important. We must do everything we can to provide our students with the tools to battle the mental health epidemic,” said Senator Warnock. “As the father of two young children, I understand why schools must have the resources to ensure students can learn and grow in their classrooms.”

    “Our students are the next generation of leaders, innovators, and community builders. Yet, our nation is in the midst of a mental health crisis, with alarming increases in youth suicide and overdose rates,” said Senator Luján. “As more high school students report feeling sadness and loneliness, we have a responsibility to act. That’s why I’m proud to introduce the Advancing Student Services in Schools Today Act to ensure students have access to the mental health care they need and deserve.”

    “Children across the United States are facing a historic mental health crisis — nearly half of all adolescents have experienced a mental health disorder in their lifetimes,” said Senator Padilla. “As a father of three school-aged boys, I understand the importance of investing in mental health resources at our schools so that our children do not have to suffer in silence. As Republicans threaten cuts to critical Medicaid services, the ASSIST Act would make sure the federal government does its part in funding school support systems that help keep our students healthy and successful.”

    “Instead of ripping health care away from children to pay for tax breaks for the wealthy and well-connected, Congress should ensure that children can access the mental and behavioral health care they need,” said Representative Kathy Castor, who is introducing companion legislation in the House of Representatives. “Medicaid plays a critical role in children’s mental health, bolstering school-based services that benefit all students. Making care convenient for kids is key to improving mental health outcomes and reducing substance use disorders among youth, an issue that has been growing for decades. I hear from students, parents, teachers and health care providers across Florida that the significant shortage of mental and behavioral health professionals is delaying or preventing our neighbors from receiving the care they need. I’m proud to co-lead the ASSIST Act with Senator Raphael Warnock which will help remove cost barriers for providers to care for children in our schools with a sustainable funding stream. This commonsense legislation is an example of a policy that Congress should be focusing on, and will make a real difference in keeping our students safe, healthy, engaged and on the right track to a successful future.”

    Under this new initiative, schools will be able to apply for federal grants that will provide new funding for mental health and substance use disorder care services. Schools will also be eligible for increased federal Medicaid funding for these services, through the Federal Medical Assistance Percentage (FMAP). This FMAP boost would cover 90% of the expenses toward hiring and training mental health and substance use disorder care providers in schools and school-based health centers—potentially increasing the pay for these mental health professionals. Additionally, because this competitive grant program would be funded through Medicaid, it would be less vulnerable to cuts in the annual government funding process. This consistent funding stream would help keep mental health professionals in schools, allowing them to build stronger relationships with students and the school’s broader community.

    According to the Centers for Disease Control and Prevention, in 2023, 40% students had persistent feelings of sadness or hopelessness. Tragically, 20% of students seriously considered attempting suicide, and nearly 1 in 10 attempted suicide. This alarming data highlights the need for better behavioral health services for students, particularly in the school setting, where those services are more accessible.

    Senator Warnock has long prioritized increasing mental health services for students, young people, and adults, highlighting the need to remove any and all stigma associated with mental health care. Senator Warnock has also long fought to expand Medicaid, in part for the increased accessibility to mental healthcare. Most recently, Senator Warnock published a newreport, “Healthy People, Healthy Economy” that found that placing bureaucratic red tape between working people and their health care will lead to hospital closures, job loss, and economic slowdown. In 2021, Senator Warnock introduced a package of legislation supporting mental health care. The slate of five bills aimed to improve and expand access to mental health care for all Georgians and Americans. The legislative package, which included the ASSIST Act, also included the Improving Access to Tele-Behavioral Health Services Act, the Crisis Counseling Act, the Behavioral Health Coordination and Communication Act, and the Behavioral Health Resolution.

    In addition to Senator Warnock, the ASSIST Act is cosponsored by Senators Ben Ray Luján (D-NM), Tina Smith (D-MN), Alex Padilla (D-CA), Angela Alsobrooks (D-MD), Peter Welch (D-VT), and Ron Wyden (D-OR).

    The bill text for the ASSIST Act is HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Warnock Demands Transparency from HHS Secretary Kennedy After Abruptly Firing Scientists from CDC’s Vaccine Safety Board

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Warnock Demands Transparency from HHS Secretary Kennedy After Abruptly Firing Scientists from CDC’s Vaccine Safety Board

    Senators Reverend Warnock, Luján, and 20 Senators pressed HHS Secretary Kennedy about the sudden firing of every member of the ACIP

    The unprecedented action threatens the health of all Americans and hurts the legitimacy of the historically non-partisan board

    Senator Warnock voted against Secretary Kennedy to lead HHS, the agency that oversees the CDC, due to concerns over disturbing comments and long-held beliefs of Kennedy that would threaten health care costs, quality, and access for millions of Georgians and Americans

    Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA) led 21 Senate colleagues in demanding answers from Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. on his sudden decision to fire every member of the Centers for Disease Control and Prevention (CDC) Advisory Committee on Immunization Practices (ACIP). In a letter sent to Secretary Kennedy, Senators Warnock, Ben Ray Luján (D-NM), and 20 other Senate colleagues stressed the importance of protecting ACIP’s longstanding reputation as a trusted national authority on the use of vaccines to prevent and control disease.

    “This unprecedented action will strip Americans of the ability to make informed decisions about the benefits and risks of vaccinations – the complete opposite of ‘radical transparency’ and ‘good science’. We are troubled by your recent announcement to appoint several members to the committee who have a documented history of anti-vaccine ideology and peddling misinformation. We urge you to restore legitimacy to this historically non-partisan, science-based, and data driven committee and immediately reinstate the members of ACIP you have baselessly fired,”     the Senators said.

    “This decision appears to be a deliberate effort to repopulate the committee with anti-vaccine demagogues and continue pushing vaccine misinformation to the American people. According to the Kaiser Family Foundation, over 80 percent of parents with children under age 18 report that their children receive routine immunizations; however, a divide based on political ideology is growing. The reality is that most Americans trust the science behind vaccines – but through inaccurate information and politicization, you are eroding the trust in vaccines,”     the Senators continued.

    At the conclusion of the letter, the Senators pressed for greater transparency and emphasized the immediate risk Kennedy’s decision has on Americans’ public health.

    “Patient safety and transparency is at the heart of ACIP – Americans deserve the ability to make informed decisions about their health. You are stripping Americans of the freedom to choose by your recent appointments to the committee by centering anti-vaccine ideology. Therefore, we demand that you recuse your personal views on vaccines and restore the ACIP. We urge you to immediately reappoint the members of the committee that you fired and remove those that you have recently appointed that have a documented history of peddling misinformation or undermining vaccine confidence,” the Senators closed.

    Earlier this year, Senator Warnock voted against Secretary Kennedy to lead HHS, the agency that oversees the CDC, due to concerns over disturbing comments and long-held beliefs of Kennedy that would threaten health care costs, quality, and access for millions of Georgians and Americans. Since the CDC and its employees became a target of this administration, Senator Warnock has led several efforts defending their employment and the crucial role they play in keeping the nation safe. This includes joining them at a rally, delivering a floor speech opposing Secretary Kennedy’s nomination, demanding answers from administration nominees at Congressional hearings, and more.

    In addition to Senators Warnock and Luján, the letter was signed by U.S. Senators Lisa Blunt Rochester (D-DE), Dick Durbin (D-IL), Adam Schiff (D-CA), Martin Heinrich (D-NM), Tammy Duckworth (D-IL), Jacky Rosen (D-NV), Richard Blumenthal (D-CT), Angus King (I-ME), Peter Welch (D-VT), John Fetterman (D-PA), Brian Schatz (D-HI), Ruben Gallego (D-AZ), Kristen Gillibrand (D-NY), Jon Ossoff (D-GA), Mazie Hirono (D-HI), Angela Alsobrooks (D-MD), Gary Peters (D-MI), Andy Kim (D-NJ), Tina Smith (D-MN), and Jack Reed (D-RI).

    Read the full letter     HERE, and the text is below

    Dear Secretary Kennedy,

    We are deeply concerned by your decision to fire every member of the Centers for Disease Control and Prevention (CDC) Advisory Committee on Immunization Practices (ACIP). This unprecedented action will strip Americans of the ability to make informed decisions about the benefits and risks of vaccinations — the complete opposite of “radical transparency” and “good science”. We are troubled by your recent announcement to appoint several members to the committee who have a documented history of anti-vaccine ideology and peddling misinformation. We urge you to restore legitimacy to this historically non-partisan, science- based, and data-driven committee and immediately reinstate the members of ACIP you have baselessly fired.

    ACIP is a longstanding, trusted national source of science- and data-backed advice and guidance on the use of vaccines to prevent and control disease. Members that serve on this committee must undergo extensive vetting and disclose any conflicts of interest. Firing every member of the committee just before their next meeting scheduled for June 25-27 eliminates the advisory board’s ability to debate and make well-informed recommendations, putting American lives at risk. This reckless move is also happening as our nation faces the largest measles outbreak in over 30 years. 

    This decision appears to be a deliberate effort to repopulate the committee with anti-vaccine demagogues and continue pushing vaccine misinformation to the American people. According to the Kaiser Family Foundation, over 80 percent of parents with children under age 18 report that their children receive routine immunizations; however, a divide based on political ideology is growing. The reality is that most Americans trust the science behind vaccines — but through inaccurate information and politicization, you are eroding the trust in vaccines.

    This is just one action of many that the Department of Health and Human Services (HHS) has recently taken to undermine vaccine confidence in the United States. Just over two weeks ago, HHS reversed the CDC recommendations on COVID-19 vaccination. This decision was made without the consultation of ACIP or CDC, narrowing recommendations to exclude healthy pregnant people despite pregnancy increasing the risk for severe infection. Just a day later, HHS announced the termination of a contract with Moderna to develop a bird flu vaccine despite warnings of a future pandemic from infectious disease doctors and public health professionals. These deliberate efforts to sow doubt in the safety and efficacy of vaccines have real consequences — people will die.

    In addition to advising everyday Americans on their health decisions, ACIP recommendations also influence whether insurance will cover certain vaccines, making them accessible to insured Americans. Furthermore, ACIP determines the vaccine recommendations for the Vaccines for Children program, which ensures underinsured and uninsured children across the nation can access vaccines at no cost. Without these recommendations, vaccines will become out of reach for far too many Americans. These actions contradict your written responses to questions for the record from the Senate Finance Committee, in which you said “yes” in response to a question about your commitment to ensure there are no financial barriers to accessing safe and effective vaccines.

    Vaccines are safe and effective and have significantly reduced, and in some cases entirely eliminated, disease. With recent scientific advances in mRNA technology, vaccines are becoming easier and faster to produce in addressing today’s public health crises. It is critical that ACIP maintains its ability to develop science- and data-driven recommendations on vaccination without interference from anti-vaccine ideology.

    Patient safety and transparency is at the heart of ACIP — Americans deserve the ability to make informed decisions about their health. You are stripping Americans of the freedom to choose by your recent appointments to the committee by centering anti-vaccine ideology. Therefore, we demand that you recuse your personal views on vaccines and restore the ACIP. We urge you to immediately reappoint the members of the committee that you fired and remove those that you have recently appointed that have a documented history of peddling misinformation or undermining vaccine confidence.

    MIL OSI USA News –

  • MIL-OSI Russia: Press Briefing Transcript: Julie Kozack, Director, Communications Department, June 12, 2025

    Source: IMF – News in Russian

    June 12, 2025

    SPEAKER:  Ms. Julie Kozack, Director of the Communications Department, IMF

    MS. KOZACK: Good morning, everyone, and welcome to this IMF Press Briefing. My name is Julie Kozak. I’m the Director of Communications at the IMF.  As usual, this press briefing will be embargoed until 11:00 a.m. Eastern Time in the United States.  And as usual, I will start with a few announcements, and then I’ll take your questions in person on WebEx and via the Press Center.  And I have quite a few announcements today, so please do bear with me. 

    On June 18th, the Managing Director will travel to Brussels, where she will hold bilateral meetings with officials.  On June 19th, she will travel to Luxembourg to present the Euro Area Annual Consultation at the Eurogroup meeting.  On June 20th, the Managing Director will be in Rome to speak at the Mattei Plan for Africa and the Global Gateway event, a joint effort with the African Continent.  This event is co-chaired by Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen.  And from there, the Managing Director will travel to Japan from June 22nd to 24th.  During her visit, she will hold meetings with Japanese officials, members of the private sector, and other stakeholders. 

    Turning to other management travel.  First Deputy Managing Director Gita Gopinath will travel to Sri Lanka, Singapore, and Indonesia.  On June 16th, she will participate in the Sri Lanka Road to Recovery Conference, where she will deliver opening remarks.  And in all three countries, our FDMD will meet with officials and various stakeholders during this trip. 

    From June 24th through 26th, our Deputy Managing Director Bo Li will attend the World Economic Forum Annual Meeting of the New Champions in Tianjin, China.  DMD Li will participate in sessions on safeguarding growth engines and the role of digital assets in Global payment systems. 

    On June 30th, Deputy Managing Director Nigel Clarke will participate in the Finance for Development Conference and in Sevilla, Spain. 

    And with that, I will now open the floor to your questions.  For those of you who are connecting virtually, please do turn on both your camera and microphone when speaking.  All right, let’s open the floor.   

    QUESTIONER: I have two questions on Ukraine.  After meetings in Kyiv last month, the IMF mission emphasized the importance of Ukraine’s upcoming budget declaration for 2026-2028, which will determine the course of the fiscal framework and policies.  What are the Fund’s expectations, and does the IMF have any specific requirements or policy guidelines for this document?  And secondly, if I may, do you have data of the IMF Board — IMF support meetings to approve the aides review for Ukraine?     

    MS. KOZACK: Any other questions on Ukraine?                                          

    QUESTIONER: So, Ukraine has recently defaulted on its GDP-linked securities and, before that, failed to reach an agreement with creditors to restructure its part of its sovereign debt.  How concerned is IMF with these developments, and do you see any risks for the EFF repayments from Ukraine?  Thank you. 

    QUESTIONER: Some follow-up to your question.  IMF sources indicate that Ukraine transferred $171 million repayment to the Fund on June 9th, the first repayment on loans received post-February 2022.  Can you confirm this payment was received?  And how does the IMF view Ukraine’s emerging shift towards repayment on wartime financing?  Thank you. 

    MS. KOZACK: Let me take these questions for a moment, and I’ll remind you where we are on Ukraine.

    On May 28th, IMF staff and the Ukrainian authorities reached Staff–Level Agreement.  And this was for the Eighth Review of the EFF program.  Subject to approval by our Executive Board, Ukraine will have access to about U.S. $500 million, and that would bring total disbursements under the program to U.S. $10.6 billion.  The Board is scheduled to take place in the coming weeks, and we’ll provide more details as they become available.  I can also add that Ukraine’s economy has remained resilient.  Performance under the EFF has continued to be strong despite very challenging circumstances.  The authorities met all of their quantitative performance criteria and indicative targets, and progress does continue on the structural agenda in Ukraine.

    Now, with respect to the specific questions on the budget declaration, what I can provide there is that our view is that the 2026-2028 budget declaration will provide a strategic framework for fiscal policy for the remainder of the program over that period of time.  It will help focus the debate on key expenditure priorities, including recovery, reconstruction, defense, and social spending.  And it will also form the basis for discussion of the 2026 budget, which, of course, will also be an important milestone for Ukraine. 

    On the question regarding the debt, what I can say there is that we encourage the Ukrainian authorities and their creditors to continue to make progress toward reaching an agreement in line with the debt sustainability targets under the IMF’s program and the authority’s announced strategy.  So that’s sort of our broad view on the debt.  On the implications for completion of the review, as in all cases where a member country may have arrears to private creditors, staff will assess whether the requirements under the Fund’s lending into arrears policy are met.  In light of this, again, we encourage the authorities to continue to make good-faith efforts toward reaching an agreement in light of the debt sustainability targets. 

    And on your question about Ukraine’s payment to the Fund, what I can say is that, in general, we don’t comment on specific transactions of individual members.  What I can guide you to is that we do provide on our website detailed information on members’ repayments.  And this is made available on a monthly basis.  So, at the end of each month, if you look at the Ukraine page, you can see the transactions that were made.  And on a daily basis, we provide detail on member countries outstanding obligations to the IMF.  So that can give you a sense of how the overall obligations of Ukraine have evolved on a daily basis. 

    QUESTIONER: Can you give us an update on the relationship between the IMF and Senegal?  Where do things currently stand with misreporting and a new program?  This is my first question.  And the second one I have is the Fifth Review under the Policy Coordination concerning Rwanda.  The IMF stated that “Rwanda continues to demonstrate leadership in integrating climate consideration into macroeconomic policy and leveraging institutional reforms to mobilize climate finance.”  Now my question is, can you please tell us concretely what kind of institutional reforms have been implemented by Rwanda? 

    MS. KOZACK: So, before I answer this, are there any other questions on Senegal or Rwanda? I see none in the room. Anyone online want to come in on Senegal?  Okay, I don’t see anyone coming in, so let’s start with Senegal, and then we’ll move to Rwanda. 

    What I can say on Senegal is that we, the IMF and our team in particular, remained actively engaged with the Senegalese authorities, including during a visit to Dakar over March and April and further discussions during the Spring Meetings, which were held here in Washington in April.  We do continue to work with the authorities to address the complex misreporting case that is ongoing.  And addressing this complex case does require a rigorous and time-intensive process.

    I also want to take the opportunity to add that the IMF supports our member countries in a variety of ways, and it goes beyond just providing financing.  So, for example, in the case of Senegal, we are continuing to provide the authorities with technical assistance, including, for example, on our debt sustainability analysis that is tailored to low-income countries.  We’re working closely with the authorities on compiling government financial statistics.  This is being led by our Statistics Department.  We’re providing technical assistance on energy sector reform, public investment management, and revenue mobilization, and that, of course, is with support from our fiscal experts. 

    With respect to a new program.  We don’t have currently a fixed timeline for a new program, and we are awaiting the final audit outcome. 

    Now, turning to your question on Rwanda here.  What I can say, and maybe just to step back and remind everyone of where we are in Rwanda.  On June 4th, so just a few days ago, our Executive Board concluded the Fifth Review of Rwanda’s policy Coordination Instrument.  Rwanda’s economic growth remains among the strongest in Sub-Saharan Africa, and that’s despite rising pressures both on the fiscal side and the external side.  Rwanda, of course, we’re encouraging Rwanda to continue with a credible fiscal consolidation, strong domestic revenue mobilization, and a strong monetary policy. 

    With respect to your specific question, Rwanda successfully completed its Resilience and Sustainability Fund program, the RSF program, in December of 2024, six months ahead of the initial timetable.  And under this RSF, Rwanda did carry out a number of institutional reforms that were focused on green public financial management, climate public investment management, climate-related risk management for financial institutions, and disaster risk reduction.  So, these are some of the institutional reforms that Rwanda completed, which led us to make that statement about their leadership in this area. 

    I can also add that these reforms, along with some of the other reforms they’re having, they’re undertaking, such as a green taxonomy and the adoption of best practices in climate risk reporting by financial institutions.  The idea is that this together will help to close information gaps, improve transparency, and that hopefully will allow for a boost to private sector engagement in advancing Rwanda’s ambitious climate goals and its broader goals toward economic development and strong and sustainable growth. 

    QUESTIONER: Two questions on Syria.  The Fund said this week that Syria needs substantial international assistance for its recovery efforts.  Firstly, can you give us an estimation of how much economic assistance Syria will need?  And secondly, could you just let us know if there were any discussions around if a potential Article IV was discussed? 

    MS. KOZACK: Thank you. Any other questions on Syria?                   

    QUESTIONER: Just to know if there was any demand from the Syrian government for any kind of technical assistance from the IMF to help them recover, economically speaking?

    MS. KOZACK: Does anyone online want to come in on Syria? I don’t see anyone coming in. So let me step back again and give a sense of where we are on Syria.

    I think, as many of you know, an IMF staff team visited Syria from June 1st through 5th.  This was the first IMF visit to Syria since 2009.  The goal of the visit was to assess the economic and financial conditions in Syria, as well as to discuss with the authorities their economic policy, and also to ascertain the authorities ‘ capacity-building priorities, ultimately to support the recovery of the Syrian economy.  I think, as we’ve discussed here before, Syria faces enormous challenges following years of conflict that have caused immense human suffering, and it’s reduced the Syrian economy to a fraction of its former size. 

    At the IMF, we’re committed to supporting Syria in its efforts.  Based on the findings of the mission, IMF staff, in coordination with other partners, are developing a detailed roadmap for policy and capacity development priorities for key economic institutions.  And within the IMF’s mandate, this covers the Finance Ministry, the Central Bank, and the Statistics Agency.  So those would be the areas where we will be focusing in terms of the detailed roadmap on priorities, economic and capacity building priorities. 

    Syria, as noted, will need substantial international assistance.  We don’t yet have a precise estimate of that assistance.  But what I can say is this will also — it will not only require concessional financial support, but also substantial capacity development support for the country.  And that’s basically where we have left it with the Syrian authorities.  And, of course, we will continue to engage closely with them, and we are committed to helping them, supporting them on their recovery journey. 

    QUESTIONER: Is the date of the IMF mission to Argentina already said?  And based on that definition, when would the First Review of the agreement could take place?  And another one, in the last few days, the Argentina government has launched different mechanisms to try to increase the level of foreign exchange reserves.  Is the IMF worried that Argentina will not reach the target set in the agreement?  And could the IMF give Argentina a waiver on this?  Thank you very much. 

    MS. KOZACK: Okay, any other questions in the room on Argentina? I know we have several online.

    QUESTIONER: Thanks for taking my questions.  I would like to know how does the IMF evaluate the listed economy measures, particularly the issue of the measure to use undeclared dollars.  Thank you.

    QUESTIONER: My first question is about the reserve target for the new program with Argentina.  Central Bank is about $4 billion below the target set for June.  Also, some operations are expected that could increase their reserve stock.  Officials said on Monday evening that local currency bonds can now be purchased with U.S. dollar and that the minimum time requirement for foreign investors to hold onto some Argentina bonds will be eliminated.  The IMF is concerned that the Central Bank is not accumulating reserves touch foreign trade and is only receiving income touch debt.  Is the consensus with the authorities to postpone the Frist Review and allow time for Argentina to activate credit operation in order to close — to get closer to the target set for June, or Argentina should resort to a waiver?  And what is your view on the recent measures? 

    And that second question is about the possibility of an IMF mission arriving in Argentina in the coming weeks.  Is that possible?  Would it be a technical staff mission, or could the Managing Director or Deputy Executive Director also come?  Thank you very much. 

    QUESTIONER: So, the question is the same as (connection issue) First Review of the agreement signed in April (connection issue)

    QUESTIONER: -Is the IMF considering granting a waiver and also if they build up. 

    MS. KOZACK: You’ve broken up quite a bit, and now we’re not able to hear you, so we’ll try to get you back, or I think what I understood from your question is it’s broadly along the same lines as some of the other questions. What we can do is if you want to connect via the Press Center, I can read the question out loud. But what I’m going to do is move on.                      

    QUESTIONER:  Basically, echoing my colleague’s questions on the timing of the mission and whether an extension was granted to meet the reserve’s target, well, for the First Review generally.  And separately, Argentina has July 9th dollar debt payments, which will obviously affect reserves.  How will that payment and timing affect your calculus of the reserves target within the First Review?  Thank you.

    QUESTIONER: Well, yes, also echoing my colleague’s question regarding whether the timeline for the First Review, the end date remains this Friday, which was what it said on the Staff Report.  And also, there was a ruling lately, these past few days, against former President Cristina Kirchner.  I was wondering if that raises any concerns in the IMF regarding any political conflict or any subsequent economic impact. 

    MS. KOZACK: I think we’ve covered all the questions on Argentina. Anyone else on Argentina? Okay, very good.  So, let me try to give a response that tries to cover as many of these questions as I can.  So again, I’m just going to step back and provide where we are with Argentina. 

    So, on April 11th, the IMF’s Executive Board approved a new four-year EFF arrangement worth $20 billion for Argentina.  The initial disbursement was $12 billion, and the goal of the program was to support is to support Argentina’s transition to the next phase of state stabilization and reform.  The Milei administration’s policies continue to evolve and to deliver impressive results, as we have previously noted. 

    In this regard, we welcome the recent measures announced this week by the Central Bank and the Ministry of Finance as they represent another important step in efforts to consolidate disinflation, support the government’s financing strategy and to rebuild reserves and, more specifically, steps to strengthen the monetary framework and to improve liquidity management.  These are important to further reduce inflation and inflation expectations.  The Treasury’s successful reentry into capital markets and other actions to mobilize financing for Argentina are also expected to boost reserves, and stability overall for the country continues to be supported by the implementation of strong fiscal anchor in the country. 

    Our team continues to engage frequently and constructively with the Argentine authorities as part of the program’s First Review.  I can add that a technical mission will visit Buenos Aires in late June to assess progress on program targets and objectives and to also discuss the authority’s forward-looking reform agenda.  More broadly and despite the more challenging environment, the authorities, as I said, have continued to make very notable and impressive progress.  So, I will leave it at that. 

    Let’s go online for a bit, and then we’ll come — no, let’s go right here in the back.  You haven’t had a question, and you’re in the room.                             

    QUESTIONER: Given the recent escalation in global trade tensions and the effect of the tariffs, what is the IMF’s assessment of how these developments are affecting emerging economies?  And what policy recommendation does the IMF have for countries facing increased external pressures? 

    MS. KOZACK: Okay, let me answer — let me turn to this question on emerging markets, a very important constituency and part of our membership here at the IMF. So, let me start with where we were and what our assessment was as of April.

    In April, when we launched our World Economic Outlook, we projected growth in emerging and developing countries to slow from 4.3 percent in 2024 to 3.7 percent in 2025 and then to come back a little bit to 3.9 percent in 2026.  We did have at that time also significant downgrades for countries most affected by the trade measures, and that includes China, for example.  We have seen since then that there have been some positive surprises to growth in the first quarter for this group of countries, including China.  We have also seen recent reductions in some tariffs, and that represents kind of an upside risk to our forecast.  And, of course, we will be updating our forecast, including for this group of emerging and developing countries, as part of our July WEO update, and that will be released toward the end of July. 

    In terms of our recommendations, we recommend what we would call a multi-pronged policy response.  So first, to carefully calibrate monetary policy and also macroprudential or prudential policies to maintain stability in countries.  We also recommend for this group of countries, but for all of our members, to rebuild fiscal buffers to restore policy space to respond to, of course, future shocks that may occur.  For countries that may face particular disruptive pressures in the foreign currency, foreign exchange market, we would say that they could pursue targeted interventions if those instances are disruptive.  We also are encouraging again all of our countries to undertake the necessary reforms to no longer delay reforms associated with boosting productivity and longer-term growth. 

    I think maybe stepping back, we’ve been talking for quite some time in the IMF about a low growth, high debt environment.  And this, of course, applies to this group of countries as well.  So, dealing with the debt side, of course, is important through fiscal consolidation, but also, very importantly, boosting growth and productivity growth.  So, countries can also have a more prosperous society and also deal with some of their debt issues through stronger growth is also very important. 

    All right, let me go online, and then I’ll come back to the room.  Let’s see.  Online, I see a few hands up.                             

    QUESTIONER: My question is on Japanese tour conducted by Managing Director.  Could you give more details on how Japanese tour played this month?  For example, is there any chance for giving speeches or press conference and so on? 

    MS. KOZACK: So, as I said, the Managing Director will visit Japan later this month. Her visit will mostly entail meetings with government officials and also the business community as well as other stakeholders. She will have an opportunity to also do some outreach, and we can provide further details to you as her agenda becomes more concrete.  But she is very much looking forward to the visit.  Japan, as I think we’ve said before, is an important partner for the IMF.  And the Managing Director is very much looking forward to meeting with Japanese officials and talking more broadly to other stakeholders in Japan about the important partnership that the IMF has with Japan. 

    I see some other hands up online.  Unfortunately, I can’t see.  So, I think if you’re online and you have your hand up, just jump in. 

    QUESTIONER: You already referred to your own economic outlooks when you talked about emerging markets.  But I was — I wanted to ask you, does the IMF anticipate a similar growth downgrade as we’ve just seen for the World Bank this week and its economic assessment?  Because, of course, back in April, the cutoff point for your last report was just as Donald Trump was announcing the Liberation Day tariffs. 

    MS. KOZACK: Okay, so thank you for that. Any other questions on the global outlook? Okay, so let me take this one, and then we’ll come back to some other questions. 

    So, what I can say in terms of the forward-looking, I mean, first, I want to start by reiterating that we will release a revised set of projections in July as part of our regular WEO update.  What I can add is that since we released our World Economic Outlook, what we call the WEO, in April, we have seen some, you know, some data come in and some other developments.  So first, we have seen some trade deals that have lowered tariffs, notably between the U.S. and China, but also the U.S. and the UK, and at the same time, the U.S. has raised further tariffs on steel and aluminum imports.  So taken together, such announcements, combined with the April 9th pause on the high level of tariffs, these could support activity relative to the forecast that we had in April.  But nonetheless, we do have an outlook for the global economy that remains subject to heightened uncertainty, especially as trade negotiations continue. 

    I can also add that recent activity indicators reflect a complex economic landscape.  So, this is recent high-frequency data.  We have some outturns in the first quarter, which indicated a front-loading of activity ahead of the tariff announcements that took place in April.  And some high-frequency indicators also show some trade diversion and unwinding of that earlier front loading.  So, this is kind of the more recent indicators.  So, all of this creates kind of a complicated picture for us with some upside risk, some other developments, and we’ll take all of these developments together into account as we update our forecast toward the end of July in our WEO. 

    QUESTIONER: When you say support activity, do you mean there’s a chance it could be an improved outlook? 

    MS. KOZACK: So yes, by support activity, what we mean is that it’s kind of positive, it’s a little bit of a positive sign for economic activity. So that’s related, though, I would say, to the specific announcements. So, so just going back to say, the announcements of the trade deals that have lowered tariffs, particularly the ones between the U.S. and China and the U.S. and the UK, those could be supportive or a bit more positive for economic activity going forward.  But the overall picture is both complicated for the reasons that I mentioned. 

    We have some front loading in the first quarter.  Some of that seems perhaps to be unwinding in more recent indicators.  And we also, of course, have to remember that we are in an environment of very high uncertainty, and uncertainty, in general, tends to dampen economic activity. 

    So, the overall picture is quite complex.  And so, we will take all of these factors into account as we move forward with our forecast in July.  And, of course, between now and when we release our forecast later in July, we would expect that there will be further data releases.  And also, there is the possibility that there can be further announcements that we would have to take into account or further developments that we would have to take into account as well. 

    Let me just stay online for another minute.  I think I have one more hand up online or two hands online. 

    QUESTIONER: My question is about Egypt.  I was hoping to ask you if the Egyptian authorities have requested a waiver from the Fund for any of the requirements related to the Fifth Review of the country’s ongoing loan program and specifically if a waiver has been requested related to targets for divestment from state-owned assets.  And if you have any update on the timing of the Fifth Review, that would also be very helpful.  I know there were some suggestions that the Fifth Review could be combined with the Sixth Review, in which case we wouldn’t see it until September rather than the June date that had previously been talked about.  Thank you.

    MS. KOZACK: Anyone else on Egypt?

    QUESTIONER: My question is related to the previous one by my colleague.  She asked about the state-owned companies to be listed for IPOs or for private sectors to be having a bigger stake in the economy.  How the IMF evaluate the progress achieved by the Egyptian authorities during that?  And also, when the Fifth Review to be finished after the physical meetings happened in past May?  And what are the most recent progress achieved until now during this?  And also, I’d like to ask about how IMF evaluated the latest step by Egyptian government to give the Minister of Finance the right to issue sukuk in the guarantee of place in Red Sea as published in the last two days. 

    MS. KOZACK: Okay, thank you. Anyone else have questions on Egypt? So, on Egypt, as I think many of you know, an IMF team visited Cairo.  From May 6th to May 18th, the team held productive discussions with the Egyptian authorities on their economic and financial policies.  Discussions are continuing virtually to finalize agreement on remaining policies and reforms that could support the completion of the Fifth Review under the EFF. So again, discussions around the Fifth Review are continuing virtually. 

    As we have said here before, Egypt has made clear progress on its macroeconomic reform program with notable improvements in inflation and in the level of international reserves.  As Egypt’s macroeconomic stabilization is taking hold, it’s now the time for efforts to focus on accelerating and deepening reforms, including reducing the footprint of the state, leveling the playing field, and improving the business environment in Egypt. 

    What I can add is that in order to deliver on these objectives, particularly with respect to reducing the footprint of the state, leveling the playing field, et cetera, it’s important to decisively reduce the role of the public sector in the economy.  The implementation of the state ownership policy, as well as the asset divestment program in sectors where the state has committed to reduce its footprint, will be playing a critical role in strengthening the ability of Egypt’s private sector to contribute to growth and activity in the Egyptian economy, which will ultimately support improvements in livelihoods of the Egyptian people.  We remain committed to supporting Egypt in building economic resilience and fostering stronger private sector-led growth. 

    On some of the more specific questions related to Sukuk, I don’t have a response here, but we’ll come back to you bilaterally. 

    QUESTIONER: It’s a quick overall question.  Could you remind us the condition for a country to come under IMF supervision?  Does it require specifically a program, or can it come from the IMF itself?  Thank you very much. 

    MS. KOZACK: Can you clarify what you mean by IMF supervision? Just so I understand.

    QUESTIONER: To be perfectly honest, in the past few days, we had comments from the French government about the fact that it could become under IMF supervision.  I’m not very interested in specifically about France, but just in general overall how IMF comes to work with governments.  What are the conditions for the IMF to step in and come to help the government?  Thank you very much. 

    MS. KOZACK: Very good. So, let me maybe take this opportunity to step back and explain kind of the three big pillars of the work of the IMF.

    So, the first is policy advice, and this is done mainly through the Article IV consultation process.  The reason it’s called Article IV is because it’s in Article IV of our Articles of Agreement, and every member country of the IMF — so, we have 191 member countries — every member country commits when they join the IMF to participate in the Article IV consultation process.  So that applies to every member.  And that is a process that I know you here are very familiar with, where the IMF sends a team, and we conduct an assessment of the economy, and we provide policy advice to the country.  That’s done for all members. 

    Another leg or another pillar of what we do at the IMF is capacity development.  And for capacity development, this is at the request of the member.  So, this could be, you know, very specific advice on a specific area where our technical expert would go and do sort of a deep dive analysis and provide detailed policy recommendations.  But it’s really meant at building state capacity.  So often, this is done in areas such as revenue mobilization or public financial management, statistics, monetary policy frameworks, and debt management.  These are some of the areas where we would provide technical assistance to countries.  That’s at the request of the member. 

    And the same is true for our financial support.  So, for financial support, this is done again at the request of the member country.  The member would request financial support from the Fund, and then the Fund would then send a team and ultimately develop a program that reflects the commitments of the authorities.  But that program would need to be aimed at getting the country back on its feet.  In our technical language, it’s restoring medium-term viability for the country.  And that financing program has a balance between financial resources that the Fund provides and also policy measures taken by the part of the authorities.  But that, again, is at the request of the member country. 

    QUESTIONER: So, my question is about cryptocurrency and digital assets.  What is the IMF’s view right now on the daily use transactions by people, by governments, in paying and accumulating Bitcoin and other digital currencies?  What risks and opportunities do you see on behalf of the IMF and what shall be done on the governmental level to implement any additional safeguards requirements to make this like a daily routine operations?  Thank you. 

    MS. KOZACK: Okay, so I think on the broad topic of kind of crypto assets, what we can say is that they have gained popularity as an asset class. And also, what we see is that the underlying technology, which is a digital ledger that is shared, trusted, and programmable, is broadly viewed as highly valuable. And that technology may have broader societal benefits.  So, we do see crypto assets as a speculative asset as an asset class.  At the IMF, we generally don’t recommend crypto assets as legal or cryptocurrencies as legal tender.  We also do see that there are some potential risks that could arise from crypto assets.  These include risks to financial stability, to consumer and investor protection, and also to market integrity. 

    So, in order to balance, in a sense, the opportunities based on the technology and a new asset class with some of these risks, what we advise countries to do is to establish a robust policy framework to effectively mitigate some of the risks while allowing society to take advantage of the benefits or the opportunities that arise from this new technology. 

    QUESTIONER:  The Bank of Russia recently cut its key interest rate from 21 percent to 20 percent, marking its first easing move since September 2022.  From the IMF perspective, what are the implications of this monetary policy shift?  Thank you. 

    MS. KOZACK: So, on Russia, let me just step back a minute, and I’ll provide our overall assessment of the economy, and then I’ll get to your specific question.

    So, what we see in Russia is that last year, we saw the economy overheating, and now what we observe in Russia is a, is sharp slowdown of the economy, with growth slowing but inflation still relatively elevated.  Growth in 2025 is expected to slow to 1.5 percent based on our forecast from April, and this was compared to 4.3 percent in 2024.  And this reflects policy tightening, cyclical factors, and also lower oil prices. 

    Now, with respect to the action by the Central Bank, as you noted, the Central Bank indeed reduced the key policy rate from 21 percent to 20 percent for the first time.  This was the first reduction since September of 2022.  And the action taken by the Central Bank was in response to slowing growth, which I just mentioned, and also some easing of inflation pressures. 

    So, as I noted, inflation still remains high.  It was just under 10 percent in May.  But our forecast has inflation declining going forward.  So, we expect inflation to ease to 8.2 percent by the end of this year.  And we anticipate that inflation will turn to the target of 4 percent in the first half of 2027.  So that’s the IMF forecast.  So, the inflation challenge for Russia remains, and it’s appropriate.  Therefore, that monetary policy remains tight, and even with this cut, monetary policy is still tight. 

    I am going to now take the opportunity to read one question or some questions on Ghana and some questions on Sri Lanka, and then we’ll bring the Press Briefing to a close.  So, on Ghana, I have three questions.  The first one is about an update on when Ghana’s program will be presented to the Board following Staff–Level Agreement. 

    The second question is about the amended Energy Sector Levy Act to add GH₵1 per liter on petroleum products to defray the cost of fuel purchases for thermal plants.  Has the IMF taken note of this, and what’s its position on using taxes versus passing these costs through tariffs? 

    The third question on Ghana is whether the IMF is looking at the possibility of revising Ghana’s IMF program targets as the cedi’s sharp appreciation against the dollar has affected many variables that influence these targets set by the Fund? 

    So let me take a moment to just respond on Ghana.  So again, stepping back to where we are on Ghana.  On April 15th, the IMF staff and the Ghanaian authorities reached Staff–Level Agreement on the Fourth Review of Ghana’s Extended Credit Facility.  Upon approval by our Executive Board, Ghana would be scheduled to receive about U.S. $370 million, bringing total support under the ECF to $2.4 billion since May of 2023.  We anticipate bringing the review to our Board in early July, so in just a few weeks. 

    What I can add about the question about the cedi’s sharp appreciation is that you know, of course, as we look at a program, we look at all of these developments, including, of course, developments in the exchange rate.  And so, future program reviews will provide an opportunity for the team to carefully assess all of the evolving macroeconomic and financial conditions, including exchange rate movements, and to ensure that the program’s targets and objectives remain appropriate and achievable. 

    And on the fuel levy, what I can say is that this is a new measure that will help generate additional resources to tackle the challenges in Ghana’s energy sector, and it’s also going to bolster Ghana’s ability to deliver on the fiscal objectives under the program. 

    And I’m going to read one last set of questions on Sri Lanka, and then we will bring the Press briefing to a close.  So, we have a number of journalists asking about Sri Lanka.  So there’s — we’re consolidating the questions here.  So, these journalists are asking for updates on the IMF’s view on Sri Lanka’s progress in implementing cost recovery, electricity prices, and the automatic price adjustment system.  They’re asking about the date for the Executive Board’s consideration of the Fourth Review under the program. 

    And another question, has the government raised the issue of recent global shocks and possible further pressure on the economy and its ability to meet its reform program targets?  How do we rate the new government’s approach to corruption? 

    QUESTIONER: My question is, recently Sri Lankan president announced that the existing IMF program is likely (inaudible) that it will be the final program for the country as it tries to achieve financial independence.  What is the IMF’s view on this?  Is it achievable given the current situation in Sri Lanka?  And what is the progress on the IMF Board approval for the next review?  Thank you. 

    MS. KOZACK: All right, so again, just stepping back and reminding where we are on Sri Lanka.

    So, on April 25th, IMF staff and the Sri Lankan authorities reached Staff–Level Agreement on their fourth review of Sri Lanka’s economic reform program.  The program and Sri Lanka’s ambitious reform agenda continue to deliver commendable outcomes.  Performance under the program remains strong overall, and the government remains committed to program objectives.  Completion of the review is pending approval of the IMF’s Executive Board, and it is contingent on the completion of prior actions. 

    What I can add is that our IMF team, of course, is closely engaged with the authorities to assess the measures that were recently announced by the regulator on June 11th.  And these include a 15 percent increase in in electricity tariffs and the publication of a revised bulk supply transaction account guidelines for this.  So, these were two prior actions.  Once the review is completed by our Executive Board, Sri Lanka would have access to about $344 million in financing, and we will announce the Board date for Sri Lanka in due course. 

    With respect to some of the more specific questions on governance, what I can add is that in end-February, the government published an updated government action plan on governance reforms.  And this action plan included important commitments such as enacting a public procurement law, an asset recovery law, and other actions that are aligned with the recommendations that were included in the IMF’s Governance Diagnostic Report. 

    On the question about kind of the global situation and the impact on Sri Lanka, what I can say there is that, like for all countries in an environment of high uncertainty around policy and in general, high global uncertainty, this poses, of course, risks to an economy like Sri Lanka’s, as it does to many others.  If some of the risks associated with high global uncertainty were to materialize, the way we will approach this will be to work very closely with the authorities first to assess the impact of any downside risk that materializes, and then we will also work with the authorities to consider what are the appropriate policy responses within the contours of the program. And more broadly, for all countries, including Sri Lanka, it’s really critical for each country to sustain its own reform momentum.  Sustaining reform momentum, both with macroeconomic policy reforms and, importantly, some of the growth-enhancing reforms that we were talking about earlier, is critical for all countries in our membership, including Sri Lanka. 

    And on the question regarding the president’s remarks, I think there, what I can simply say is to repeat that, you know, Sri Lanka has made commendable progress, you know, in implementing some very difficult but much-needed reforms.  The effects — these efforts are really starting to bear fruit.  We see a remarkable rebound in growth following Sri Lanka’s crisis.  Inflation is low, international reserves are continuing to grow, revenue collection on the fiscal side is improving, and the debt restructuring process is nearly complete.  So, I think it’s really important to recognize, you know, the significant efforts that Sri Lanka has taken and also the tremendous progress that has been made.  Right now, of course, we are very much focused on the current EFF, and therefore, as I mentioned, it’s going to be critical for Sri Lanka to sustain the reform momentum through the remainder of this EFF program. 

    And with that, I am going to bring this Press Briefing to a close.  Let me thank you all for your participation today.  As a reminder, as usual, this briefing is embargoed until 11:00 A.M. Eastern Time in the United States.  A transcript will be made available later on IMF.org, and should you have any clarifications or additional queries, please reach out to my colleagues media@imf.org. This concludes our Press Briefing for today.  I wish everyone a wonderful day, and I do look forward to seeing you all next time.  Thank you very much. 

    *  *  *  *  *

    IMF Communications Department
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    https://www.imf.org/en/News/Articles/2025/06/12/tr-061225-com-regular-press-briefing-june-12-2025

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI USA: Case Opposes Proposed Annual Defense Funding Measure That Does Not Support Ukraine And Lacks A Coordinated Strategy For The Indo-Pacific

    Source: United States House of Representatives – Congressman Ed Case (Hawai‘i – District 1)

    (Washington, DC) – U.S. Congressman Ed Case (HI-01), a member of the House Appropriations Committee and of its Subcommittee on Defense, voted in Committee against the proposed Fiscal Year (FY) 2026 Defense Appropriations bill today.  

    The FY 2026 Defense bill proposes to spend $831.5 billion, an amount equal to the FY 2025 enacted level, for federal agencies and programs in the Department of Defense (DoD) and intelligence community,

    including the military branches of services, the Central Intelligence Agency and the National Security Agency. Case’s Subcommittee on Defense is responsible for developing the bill. 

    “While the measure funds many critical Hawai‘i and Indo-Pacific priorities I requested, I regrettably had to vote against this version because it eliminates support for the Ukraine Security Assistance Initiative and fails to fund a cohesive and coordinated all-government defense strategy, all of which is critical as we face the generational challenge of the People’s Republic of China,” said Case. “The Committee also was forced to draft the bill in the dark because the administration failed to provide a detailed budget request, and that is a dangerous precedent to support.” 

    Case spoke in Committee in favor of continued support for Ukraine. He stressed that despite the tragic consequences of President Putin’s unprovoked and unjustified war, “you cannot fail to do something that is hard, when you know that if you don’t do it, it will be harder in the future. That was the lesson of Neville Chamberlain in World War II.” (See Case’s speech here.)

    Case also spoke in Committee on the proposal’s lack of a coordinated whole-of-government national defense strategy, which would include soft power tools like international assistance and trade. He called for a broader understanding of national security that looks beyond the narrow confines of military spending, including in the Indo-Pacific. He explained that “only a strong national defense, coordinated and delivered over time, will achieve the foundational necessity of all else.” (See Case’s speech here.)

    Case also offered an amendment, which was accepted by the Committee, to prevent the transmission of classified information or war plans over unsecured networks. His amendment is a direct response to high-level Trump administration officials who used Signal to discuss U.S. military plans to attack Houthi groups in Yemen. Case said: “There are clear federal rules … that prohibit handling classified material outside of approved, encrypted and monitored systems … The rules around are not just suggestions, they are mandates.” (See Case’s speech here.)  

    Despite his significant problems with the bill, Case highlighted programs and provisions he requested and secured that are especially critical to Hawai‘i, including: 

    ·         $30 million to continue efforts to replace O‘ahu’s outdated air surveillance radar, which is needed to defend Hawai‘i from missile attacks. 

    ·         Directing the Navy to support a program to control and eradicate invasive coral at naval installations, which is in response to the invasive coral found at the mouth of Pearl Harbor. 

    ·         Protecting the special contracting preference for Native Hawaiian businesses. 

    ·         $357 million for the Navy’s Environmental Restoration program plus an additional $235 million for the cleanup of Formerly Used Defense Sites. These funds will help accelerate efforts to remediate per- and polyfluoroalkyl (PFAS) contamination and remove unexploded ordnance and discarded military munitions in Hawai‘i and throughout the nation. 

    ·         Funding for two Virginia-class fast attack submarines, which are critical to protecting the Indo-Pacific and will be maintained at the Pearl Harbor Naval Shipyard.  

    ·         $186 million for the Defense POW/MIA Accounting Agency, which maintains critical scientific laboratories at Joint Base Pearl Harbor-Hickam. 

    ·         $177 million for the Sea-Based X-Band Radar, which will help defend Hawai‘i from ballistic missile threats. 

    ·         Over $421 million for “Civil-Military Programs,” which will support Hawaii’s Youth Challenge Academy. 

    ·         Over $70 million for Impact Aid programs, which help Hawaii’s public schools by partially reimbursing the cost of educating military children. 

    ·         Blocked efforts to change the command and control structure of the U.S. Pacific Fleet. There have been efforts within the department to streamline control of forces under one command structure, which would limit the ability of Navy forces in Hawai‘i to respond quickly to changing threats in the Indo-Pacific region. 

    Other programs and provisions in the measure also requested and supported by Case and especially critical to the broader Indo-Pacific include: 

    ·         $8 million for the Asia Regional Pacific Initiative (ARPI) managed by U.S. Indo-Pacific Command. ARPI supports a wide range of exercises, humanitarian assistance, programs and training symposiums that help expand U.S. influence in the Indo-Pacific. The initiative is an important tool for the U.S. military to strengthen relationships throughout the Indo-Pacific region. 

    ·         Continued support for providing humanitarian and other assistance by U.S. military Civic Action Teams in the Freely Associated States. 

    ·         $6 million to expand the National Disaster Medical System Pilot Program to provide critical support to military and civilian health objectives. It will help advance national medical innovation, preparedness, disaster response and integration efforts to underserved regions, such as the Indo-Pacific. 

    ·         $75 million for decoupling rare earth magnet manufacturing from China. 

    General military-related programs and provisions supported by Case related to the DoD overall include:

    ·         3.8% basic pay increase for all military personnel. 

    ·         $700 million for the Congressionally Directed Medical Research Program (CDMRP). The CDMRP fills research gaps by funding high impact, high risk and high gain projects that other agencies may not venture to fund. 

    This measure is one of the twelve bills developed by the House Appropriations Committee that will collectively fund the federal government for FY 2026 (commencing October 1, 2025). The bill now moves on to the full House of Representatives for its consideration.  

    A summary of the defense funding bill is available here.

    ###

    MIL OSI USA News –

  • MIL-OSI China: Zheng survives Kessler, will meet Raducanu in Queen’s quarters

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

    China’s Olympic champion Zheng Qinwen fought hard to reach the quarterfinals of the women’s singles at the Queen’s Club Championships on Thursday.

    The 22-year-old Zheng, ranked world No. 5, needed two hours and 11 minutes to overcome McCartney Kessler of the United States 6-3, 4-6, 7-5 in the second round.

    Zheng entered the WTA 500 tournament as the top seed and received a bye in the first round. She said she didn’t expect her first match on grass this season to be easy – and she was indeed tested Thursday evening.

    Zheng admitted she lost focus briefly after taking the opening set and struggled to adjust in time.

    World No. 42 Kessler broke in the 10th game of the second set to even the match and then broke first in the decider, but a composed Zheng fought back to seal the win.

    “I believe I should play even more aggressive on the grass court, but I need to be patient at the same time. I need to find the balance,” said Zheng after the match.

    The Paris Olympic champion will next face British wild card Emma Raducanu on Friday. Raducanu, a former US Open champion, advanced by defeating Rebecca Sramkova of Slovakia 6-4, 6-1.

    “As a British player, she definitely has more experience on the grass court,” Zheng said. “But I will pull out all the stops tomorrow. I will try my best to focus on every point.”

    Former Wimbledon champion Elena Rybakina also secured a quarterfinal berth by defeating Britain’s Heather Watson 6-4, 6-2.

    The fourth-seeded Kazakh will face German veteran Tatjana Maria on Friday. 

    MIL OSI China News –

  • MIL-OSI Europe: Discurso del presidente António Costa durante la ceremonia del 40 aniversario de la firma del Tratado de Adhesión de España a la Comunidad Económica Europea

    Source: Council of the European Union

    El 12 de junio de 2025, el presidente del Consejo Europeo, António Costa, participó en la celebración del 40.º aniversario de la firma del Tratado de Adhesión de España a la CEE en Madrid. En su discurso, destacó la transformación democrática de España, su contribución vital a la UE y la perdurable fuerza de la solidaridad europea. También insistió en la necesidad de mantener la unidad para afrontar los desafíos globales actuales y forjar juntos el futuro de Europa.

    MIL OSI Europe News –

  • MIL-OSI Economics: Press Briefing Transcript: Julie Kozack, Director, Communications Department, June 12, 2025

    Source: International Monetary Fund

    June 12, 2025

    SPEAKER:  Ms. Julie Kozack, Director of the Communications Department, IMF

    MS. KOZACK: Good morning, everyone, and welcome to this IMF Press Briefing. My name is Julie Kozak. I’m the Director of Communications at the IMF.  As usual, this press briefing will be embargoed until 11:00 a.m. Eastern Time in the United States.  And as usual, I will start with a few announcements, and then I’ll take your questions in person on WebEx and via the Press Center.  And I have quite a few announcements today, so please do bear with me. 

    On June 18th, the Managing Director will travel to Brussels, where she will hold bilateral meetings with officials.  On June 19th, she will travel to Luxembourg to present the Euro Area Annual Consultation at the Eurogroup meeting.  On June 20th, the Managing Director will be in Rome to speak at the Mattei Plan for Africa and the Global Gateway event, a joint effort with the African Continent.  This event is co-chaired by Italian Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen.  And from there, the Managing Director will travel to Japan from June 22nd to 24th.  During her visit, she will hold meetings with Japanese officials, members of the private sector, and other stakeholders. 

    Turning to other management travel.  First Deputy Managing Director Gita Gopinath will travel to Sri Lanka, Singapore, and Indonesia.  On June 16th, she will participate in the Sri Lanka Road to Recovery Conference, where she will deliver opening remarks.  And in all three countries, our FDMD will meet with officials and various stakeholders during this trip. 

    From June 24th through 26th, our Deputy Managing Director Bo Li will attend the World Economic Forum Annual Meeting of the New Champions in Tianjin, China.  DMD Li will participate in sessions on safeguarding growth engines and the role of digital assets in Global payment systems. 

    On June 30th, Deputy Managing Director Nigel Clarke will participate in the Finance for Development Conference and in Sevilla, Spain. 

    And with that, I will now open the floor to your questions.  For those of you who are connecting virtually, please do turn on both your camera and microphone when speaking.  All right, let’s open the floor.   

    QUESTIONER: I have two questions on Ukraine.  After meetings in Kyiv last month, the IMF mission emphasized the importance of Ukraine’s upcoming budget declaration for 2026-2028, which will determine the course of the fiscal framework and policies.  What are the Fund’s expectations, and does the IMF have any specific requirements or policy guidelines for this document?  And secondly, if I may, do you have data of the IMF Board — IMF support meetings to approve the aides review for Ukraine?     

    MS. KOZACK: Any other questions on Ukraine?                                          

    QUESTIONER: So, Ukraine has recently defaulted on its GDP-linked securities and, before that, failed to reach an agreement with creditors to restructure its part of its sovereign debt.  How concerned is IMF with these developments, and do you see any risks for the EFF repayments from Ukraine?  Thank you. 

    QUESTIONER: Some follow-up to your question.  IMF sources indicate that Ukraine transferred $171 million repayment to the Fund on June 9th, the first repayment on loans received post-February 2022.  Can you confirm this payment was received?  And how does the IMF view Ukraine’s emerging shift towards repayment on wartime financing?  Thank you. 

    MS. KOZACK: Let me take these questions for a moment, and I’ll remind you where we are on Ukraine.

    On May 28th, IMF staff and the Ukrainian authorities reached Staff–Level Agreement.  And this was for the Eighth Review of the EFF program.  Subject to approval by our Executive Board, Ukraine will have access to about U.S. $500 million, and that would bring total disbursements under the program to U.S. $10.6 billion.  The Board is scheduled to take place in the coming weeks, and we’ll provide more details as they become available.  I can also add that Ukraine’s economy has remained resilient.  Performance under the EFF has continued to be strong despite very challenging circumstances.  The authorities met all of their quantitative performance criteria and indicative targets, and progress does continue on the structural agenda in Ukraine.

    Now, with respect to the specific questions on the budget declaration, what I can provide there is that our view is that the 2026-2028 budget declaration will provide a strategic framework for fiscal policy for the remainder of the program over that period of time.  It will help focus the debate on key expenditure priorities, including recovery, reconstruction, defense, and social spending.  And it will also form the basis for discussion of the 2026 budget, which, of course, will also be an important milestone for Ukraine. 

    On the question regarding the debt, what I can say there is that we encourage the Ukrainian authorities and their creditors to continue to make progress toward reaching an agreement in line with the debt sustainability targets under the IMF’s program and the authority’s announced strategy.  So that’s sort of our broad view on the debt.  On the implications for completion of the review, as in all cases where a member country may have arrears to private creditors, staff will assess whether the requirements under the Fund’s lending into arrears policy are met.  In light of this, again, we encourage the authorities to continue to make good-faith efforts toward reaching an agreement in light of the debt sustainability targets. 

    And on your question about Ukraine’s payment to the Fund, what I can say is that, in general, we don’t comment on specific transactions of individual members.  What I can guide you to is that we do provide on our website detailed information on members’ repayments.  And this is made available on a monthly basis.  So, at the end of each month, if you look at the Ukraine page, you can see the transactions that were made.  And on a daily basis, we provide detail on member countries outstanding obligations to the IMF.  So that can give you a sense of how the overall obligations of Ukraine have evolved on a daily basis. 

    QUESTIONER: Can you give us an update on the relationship between the IMF and Senegal?  Where do things currently stand with misreporting and a new program?  This is my first question.  And the second one I have is the Fifth Review under the Policy Coordination concerning Rwanda.  The IMF stated that “Rwanda continues to demonstrate leadership in integrating climate consideration into macroeconomic policy and leveraging institutional reforms to mobilize climate finance.”  Now my question is, can you please tell us concretely what kind of institutional reforms have been implemented by Rwanda? 

    MS. KOZACK: So, before I answer this, are there any other questions on Senegal or Rwanda? I see none in the room. Anyone online want to come in on Senegal?  Okay, I don’t see anyone coming in, so let’s start with Senegal, and then we’ll move to Rwanda. 

    What I can say on Senegal is that we, the IMF and our team in particular, remained actively engaged with the Senegalese authorities, including during a visit to Dakar over March and April and further discussions during the Spring Meetings, which were held here in Washington in April.  We do continue to work with the authorities to address the complex misreporting case that is ongoing.  And addressing this complex case does require a rigorous and time-intensive process.

    I also want to take the opportunity to add that the IMF supports our member countries in a variety of ways, and it goes beyond just providing financing.  So, for example, in the case of Senegal, we are continuing to provide the authorities with technical assistance, including, for example, on our debt sustainability analysis that is tailored to low-income countries.  We’re working closely with the authorities on compiling government financial statistics.  This is being led by our Statistics Department.  We’re providing technical assistance on energy sector reform, public investment management, and revenue mobilization, and that, of course, is with support from our fiscal experts. 

    With respect to a new program.  We don’t have currently a fixed timeline for a new program, and we are awaiting the final audit outcome. 

    Now, turning to your question on Rwanda here.  What I can say, and maybe just to step back and remind everyone of where we are in Rwanda.  On June 4th, so just a few days ago, our Executive Board concluded the Fifth Review of Rwanda’s policy Coordination Instrument.  Rwanda’s economic growth remains among the strongest in Sub-Saharan Africa, and that’s despite rising pressures both on the fiscal side and the external side.  Rwanda, of course, we’re encouraging Rwanda to continue with a credible fiscal consolidation, strong domestic revenue mobilization, and a strong monetary policy. 

    With respect to your specific question, Rwanda successfully completed its Resilience and Sustainability Fund program, the RSF program, in December of 2024, six months ahead of the initial timetable.  And under this RSF, Rwanda did carry out a number of institutional reforms that were focused on green public financial management, climate public investment management, climate-related risk management for financial institutions, and disaster risk reduction.  So, these are some of the institutional reforms that Rwanda completed, which led us to make that statement about their leadership in this area. 

    I can also add that these reforms, along with some of the other reforms they’re having, they’re undertaking, such as a green taxonomy and the adoption of best practices in climate risk reporting by financial institutions.  The idea is that this together will help to close information gaps, improve transparency, and that hopefully will allow for a boost to private sector engagement in advancing Rwanda’s ambitious climate goals and its broader goals toward economic development and strong and sustainable growth. 

    QUESTIONER: Two questions on Syria.  The Fund said this week that Syria needs substantial international assistance for its recovery efforts.  Firstly, can you give us an estimation of how much economic assistance Syria will need?  And secondly, could you just let us know if there were any discussions around if a potential Article IV was discussed? 

    MS. KOZACK: Thank you. Any other questions on Syria?                   

    QUESTIONER: Just to know if there was any demand from the Syrian government for any kind of technical assistance from the IMF to help them recover, economically speaking?

    MS. KOZACK: Does anyone online want to come in on Syria? I don’t see anyone coming in. So let me step back again and give a sense of where we are on Syria.

    I think, as many of you know, an IMF staff team visited Syria from June 1st through 5th.  This was the first IMF visit to Syria since 2009.  The goal of the visit was to assess the economic and financial conditions in Syria, as well as to discuss with the authorities their economic policy, and also to ascertain the authorities ‘ capacity-building priorities, ultimately to support the recovery of the Syrian economy.  I think, as we’ve discussed here before, Syria faces enormous challenges following years of conflict that have caused immense human suffering, and it’s reduced the Syrian economy to a fraction of its former size. 

    At the IMF, we’re committed to supporting Syria in its efforts.  Based on the findings of the mission, IMF staff, in coordination with other partners, are developing a detailed roadmap for policy and capacity development priorities for key economic institutions.  And within the IMF’s mandate, this covers the Finance Ministry, the Central Bank, and the Statistics Agency.  So those would be the areas where we will be focusing in terms of the detailed roadmap on priorities, economic and capacity building priorities. 

    Syria, as noted, will need substantial international assistance.  We don’t yet have a precise estimate of that assistance.  But what I can say is this will also — it will not only require concessional financial support, but also substantial capacity development support for the country.  And that’s basically where we have left it with the Syrian authorities.  And, of course, we will continue to engage closely with them, and we are committed to helping them, supporting them on their recovery journey. 

    QUESTIONER: Is the date of the IMF mission to Argentina already said?  And based on that definition, when would the First Review of the agreement could take place?  And another one, in the last few days, the Argentina government has launched different mechanisms to try to increase the level of foreign exchange reserves.  Is the IMF worried that Argentina will not reach the target set in the agreement?  And could the IMF give Argentina a waiver on this?  Thank you very much. 

    MS. KOZACK: Okay, any other questions in the room on Argentina? I know we have several online.

    QUESTIONER: Thanks for taking my questions.  I would like to know how does the IMF evaluate the listed economy measures, particularly the issue of the measure to use undeclared dollars.  Thank you.

    QUESTIONER: My first question is about the reserve target for the new program with Argentina.  Central Bank is about $4 billion below the target set for June.  Also, some operations are expected that could increase their reserve stock.  Officials said on Monday evening that local currency bonds can now be purchased with U.S. dollar and that the minimum time requirement for foreign investors to hold onto some Argentina bonds will be eliminated.  The IMF is concerned that the Central Bank is not accumulating reserves touch foreign trade and is only receiving income touch debt.  Is the consensus with the authorities to postpone the Frist Review and allow time for Argentina to activate credit operation in order to close — to get closer to the target set for June, or Argentina should resort to a waiver?  And what is your view on the recent measures? 

    And that second question is about the possibility of an IMF mission arriving in Argentina in the coming weeks.  Is that possible?  Would it be a technical staff mission, or could the Managing Director or Deputy Executive Director also come?  Thank you very much. 

    QUESTIONER: So, the question is the same as (connection issue) First Review of the agreement signed in April (connection issue)

    QUESTIONER: -Is the IMF considering granting a waiver and also if they build up. 

    MS. KOZACK: You’ve broken up quite a bit, and now we’re not able to hear you, so we’ll try to get you back, or I think what I understood from your question is it’s broadly along the same lines as some of the other questions. What we can do is if you want to connect via the Press Center, I can read the question out loud. But what I’m going to do is move on.                      

    QUESTIONER:  Basically, echoing my colleague’s questions on the timing of the mission and whether an extension was granted to meet the reserve’s target, well, for the First Review generally.  And separately, Argentina has July 9th dollar debt payments, which will obviously affect reserves.  How will that payment and timing affect your calculus of the reserves target within the First Review?  Thank you.

    QUESTIONER: Well, yes, also echoing my colleague’s question regarding whether the timeline for the First Review, the end date remains this Friday, which was what it said on the Staff Report.  And also, there was a ruling lately, these past few days, against former President Cristina Kirchner.  I was wondering if that raises any concerns in the IMF regarding any political conflict or any subsequent economic impact. 

    MS. KOZACK: I think we’ve covered all the questions on Argentina. Anyone else on Argentina? Okay, very good.  So, let me try to give a response that tries to cover as many of these questions as I can.  So again, I’m just going to step back and provide where we are with Argentina. 

    So, on April 11th, the IMF’s Executive Board approved a new four-year EFF arrangement worth $20 billion for Argentina.  The initial disbursement was $12 billion, and the goal of the program was to support is to support Argentina’s transition to the next phase of state stabilization and reform.  The Milei administration’s policies continue to evolve and to deliver impressive results, as we have previously noted. 

    In this regard, we welcome the recent measures announced this week by the Central Bank and the Ministry of Finance as they represent another important step in efforts to consolidate disinflation, support the government’s financing strategy and to rebuild reserves and, more specifically, steps to strengthen the monetary framework and to improve liquidity management.  These are important to further reduce inflation and inflation expectations.  The Treasury’s successful reentry into capital markets and other actions to mobilize financing for Argentina are also expected to boost reserves, and stability overall for the country continues to be supported by the implementation of strong fiscal anchor in the country. 

    Our team continues to engage frequently and constructively with the Argentine authorities as part of the program’s First Review.  I can add that a technical mission will visit Buenos Aires in late June to assess progress on program targets and objectives and to also discuss the authority’s forward-looking reform agenda.  More broadly and despite the more challenging environment, the authorities, as I said, have continued to make very notable and impressive progress.  So, I will leave it at that. 

    Let’s go online for a bit, and then we’ll come — no, let’s go right here in the back.  You haven’t had a question, and you’re in the room.                             

    QUESTIONER: Given the recent escalation in global trade tensions and the effect of the tariffs, what is the IMF’s assessment of how these developments are affecting emerging economies?  And what policy recommendation does the IMF have for countries facing increased external pressures? 

    MS. KOZACK: Okay, let me answer — let me turn to this question on emerging markets, a very important constituency and part of our membership here at the IMF. So, let me start with where we were and what our assessment was as of April.

    In April, when we launched our World Economic Outlook, we projected growth in emerging and developing countries to slow from 4.3 percent in 2024 to 3.7 percent in 2025 and then to come back a little bit to 3.9 percent in 2026.  We did have at that time also significant downgrades for countries most affected by the trade measures, and that includes China, for example.  We have seen since then that there have been some positive surprises to growth in the first quarter for this group of countries, including China.  We have also seen recent reductions in some tariffs, and that represents kind of an upside risk to our forecast.  And, of course, we will be updating our forecast, including for this group of emerging and developing countries, as part of our July WEO update, and that will be released toward the end of July. 

    In terms of our recommendations, we recommend what we would call a multi-pronged policy response.  So first, to carefully calibrate monetary policy and also macroprudential or prudential policies to maintain stability in countries.  We also recommend for this group of countries, but for all of our members, to rebuild fiscal buffers to restore policy space to respond to, of course, future shocks that may occur.  For countries that may face particular disruptive pressures in the foreign currency, foreign exchange market, we would say that they could pursue targeted interventions if those instances are disruptive.  We also are encouraging again all of our countries to undertake the necessary reforms to no longer delay reforms associated with boosting productivity and longer-term growth. 

    I think maybe stepping back, we’ve been talking for quite some time in the IMF about a low growth, high debt environment.  And this, of course, applies to this group of countries as well.  So, dealing with the debt side, of course, is important through fiscal consolidation, but also, very importantly, boosting growth and productivity growth.  So, countries can also have a more prosperous society and also deal with some of their debt issues through stronger growth is also very important. 

    All right, let me go online, and then I’ll come back to the room.  Let’s see.  Online, I see a few hands up.                             

    QUESTIONER: My question is on Japanese tour conducted by Managing Director.  Could you give more details on how Japanese tour played this month?  For example, is there any chance for giving speeches or press conference and so on? 

    MS. KOZACK: So, as I said, the Managing Director will visit Japan later this month. Her visit will mostly entail meetings with government officials and also the business community as well as other stakeholders. She will have an opportunity to also do some outreach, and we can provide further details to you as her agenda becomes more concrete.  But she is very much looking forward to the visit.  Japan, as I think we’ve said before, is an important partner for the IMF.  And the Managing Director is very much looking forward to meeting with Japanese officials and talking more broadly to other stakeholders in Japan about the important partnership that the IMF has with Japan. 

    I see some other hands up online.  Unfortunately, I can’t see.  So, I think if you’re online and you have your hand up, just jump in. 

    QUESTIONER: You already referred to your own economic outlooks when you talked about emerging markets.  But I was — I wanted to ask you, does the IMF anticipate a similar growth downgrade as we’ve just seen for the World Bank this week and its economic assessment?  Because, of course, back in April, the cutoff point for your last report was just as Donald Trump was announcing the Liberation Day tariffs. 

    MS. KOZACK: Okay, so thank you for that. Any other questions on the global outlook? Okay, so let me take this one, and then we’ll come back to some other questions. 

    So, what I can say in terms of the forward-looking, I mean, first, I want to start by reiterating that we will release a revised set of projections in July as part of our regular WEO update.  What I can add is that since we released our World Economic Outlook, what we call the WEO, in April, we have seen some, you know, some data come in and some other developments.  So first, we have seen some trade deals that have lowered tariffs, notably between the U.S. and China, but also the U.S. and the UK, and at the same time, the U.S. has raised further tariffs on steel and aluminum imports.  So taken together, such announcements, combined with the April 9th pause on the high level of tariffs, these could support activity relative to the forecast that we had in April.  But nonetheless, we do have an outlook for the global economy that remains subject to heightened uncertainty, especially as trade negotiations continue. 

    I can also add that recent activity indicators reflect a complex economic landscape.  So, this is recent high-frequency data.  We have some outturns in the first quarter, which indicated a front-loading of activity ahead of the tariff announcements that took place in April.  And some high-frequency indicators also show some trade diversion and unwinding of that earlier front loading.  So, this is kind of the more recent indicators.  So, all of this creates kind of a complicated picture for us with some upside risk, some other developments, and we’ll take all of these developments together into account as we update our forecast toward the end of July in our WEO. 

    QUESTIONER: When you say support activity, do you mean there’s a chance it could be an improved outlook? 

    MS. KOZACK: So yes, by support activity, what we mean is that it’s kind of positive, it’s a little bit of a positive sign for economic activity. So that’s related, though, I would say, to the specific announcements. So, so just going back to say, the announcements of the trade deals that have lowered tariffs, particularly the ones between the U.S. and China and the U.S. and the UK, those could be supportive or a bit more positive for economic activity going forward.  But the overall picture is both complicated for the reasons that I mentioned. 

    We have some front loading in the first quarter.  Some of that seems perhaps to be unwinding in more recent indicators.  And we also, of course, have to remember that we are in an environment of very high uncertainty, and uncertainty, in general, tends to dampen economic activity. 

    So, the overall picture is quite complex.  And so, we will take all of these factors into account as we move forward with our forecast in July.  And, of course, between now and when we release our forecast later in July, we would expect that there will be further data releases.  And also, there is the possibility that there can be further announcements that we would have to take into account or further developments that we would have to take into account as well. 

    Let me just stay online for another minute.  I think I have one more hand up online or two hands online. 

    QUESTIONER: My question is about Egypt.  I was hoping to ask you if the Egyptian authorities have requested a waiver from the Fund for any of the requirements related to the Fifth Review of the country’s ongoing loan program and specifically if a waiver has been requested related to targets for divestment from state-owned assets.  And if you have any update on the timing of the Fifth Review, that would also be very helpful.  I know there were some suggestions that the Fifth Review could be combined with the Sixth Review, in which case we wouldn’t see it until September rather than the June date that had previously been talked about.  Thank you.

    MS. KOZACK: Anyone else on Egypt?

    QUESTIONER: My question is related to the previous one by my colleague.  She asked about the state-owned companies to be listed for IPOs or for private sectors to be having a bigger stake in the economy.  How the IMF evaluate the progress achieved by the Egyptian authorities during that?  And also, when the Fifth Review to be finished after the physical meetings happened in past May?  And what are the most recent progress achieved until now during this?  And also, I’d like to ask about how IMF evaluated the latest step by Egyptian government to give the Minister of Finance the right to issue sukuk in the guarantee of place in Red Sea as published in the last two days. 

    MS. KOZACK: Okay, thank you. Anyone else have questions on Egypt? So, on Egypt, as I think many of you know, an IMF team visited Cairo.  From May 6th to May 18th, the team held productive discussions with the Egyptian authorities on their economic and financial policies.  Discussions are continuing virtually to finalize agreement on remaining policies and reforms that could support the completion of the Fifth Review under the EFF. So again, discussions around the Fifth Review are continuing virtually. 

    As we have said here before, Egypt has made clear progress on its macroeconomic reform program with notable improvements in inflation and in the level of international reserves.  As Egypt’s macroeconomic stabilization is taking hold, it’s now the time for efforts to focus on accelerating and deepening reforms, including reducing the footprint of the state, leveling the playing field, and improving the business environment in Egypt. 

    What I can add is that in order to deliver on these objectives, particularly with respect to reducing the footprint of the state, leveling the playing field, et cetera, it’s important to decisively reduce the role of the public sector in the economy.  The implementation of the state ownership policy, as well as the asset divestment program in sectors where the state has committed to reduce its footprint, will be playing a critical role in strengthening the ability of Egypt’s private sector to contribute to growth and activity in the Egyptian economy, which will ultimately support improvements in livelihoods of the Egyptian people.  We remain committed to supporting Egypt in building economic resilience and fostering stronger private sector-led growth. 

    On some of the more specific questions related to Sukuk, I don’t have a response here, but we’ll come back to you bilaterally. 

    QUESTIONER: It’s a quick overall question.  Could you remind us the condition for a country to come under IMF supervision?  Does it require specifically a program, or can it come from the IMF itself?  Thank you very much. 

    MS. KOZACK: Can you clarify what you mean by IMF supervision? Just so I understand.

    QUESTIONER: To be perfectly honest, in the past few days, we had comments from the French government about the fact that it could become under IMF supervision.  I’m not very interested in specifically about France, but just in general overall how IMF comes to work with governments.  What are the conditions for the IMF to step in and come to help the government?  Thank you very much. 

    MS. KOZACK: Very good. So, let me maybe take this opportunity to step back and explain kind of the three big pillars of the work of the IMF.

    So, the first is policy advice, and this is done mainly through the Article IV consultation process.  The reason it’s called Article IV is because it’s in Article IV of our Articles of Agreement, and every member country of the IMF — so, we have 191 member countries — every member country commits when they join the IMF to participate in the Article IV consultation process.  So that applies to every member.  And that is a process that I know you here are very familiar with, where the IMF sends a team, and we conduct an assessment of the economy, and we provide policy advice to the country.  That’s done for all members. 

    Another leg or another pillar of what we do at the IMF is capacity development.  And for capacity development, this is at the request of the member.  So, this could be, you know, very specific advice on a specific area where our technical expert would go and do sort of a deep dive analysis and provide detailed policy recommendations.  But it’s really meant at building state capacity.  So often, this is done in areas such as revenue mobilization or public financial management, statistics, monetary policy frameworks, and debt management.  These are some of the areas where we would provide technical assistance to countries.  That’s at the request of the member. 

    And the same is true for our financial support.  So, for financial support, this is done again at the request of the member country.  The member would request financial support from the Fund, and then the Fund would then send a team and ultimately develop a program that reflects the commitments of the authorities.  But that program would need to be aimed at getting the country back on its feet.  In our technical language, it’s restoring medium-term viability for the country.  And that financing program has a balance between financial resources that the Fund provides and also policy measures taken by the part of the authorities.  But that, again, is at the request of the member country. 

    QUESTIONER: So, my question is about cryptocurrency and digital assets.  What is the IMF’s view right now on the daily use transactions by people, by governments, in paying and accumulating Bitcoin and other digital currencies?  What risks and opportunities do you see on behalf of the IMF and what shall be done on the governmental level to implement any additional safeguards requirements to make this like a daily routine operations?  Thank you. 

    MS. KOZACK: Okay, so I think on the broad topic of kind of crypto assets, what we can say is that they have gained popularity as an asset class. And also, what we see is that the underlying technology, which is a digital ledger that is shared, trusted, and programmable, is broadly viewed as highly valuable. And that technology may have broader societal benefits.  So, we do see crypto assets as a speculative asset as an asset class.  At the IMF, we generally don’t recommend crypto assets as legal or cryptocurrencies as legal tender.  We also do see that there are some potential risks that could arise from crypto assets.  These include risks to financial stability, to consumer and investor protection, and also to market integrity. 

    So, in order to balance, in a sense, the opportunities based on the technology and a new asset class with some of these risks, what we advise countries to do is to establish a robust policy framework to effectively mitigate some of the risks while allowing society to take advantage of the benefits or the opportunities that arise from this new technology. 

    QUESTIONER:  The Bank of Russia recently cut its key interest rate from 21 percent to 20 percent, marking its first easing move since September 2022.  From the IMF perspective, what are the implications of this monetary policy shift?  Thank you. 

    MS. KOZACK: So, on Russia, let me just step back a minute, and I’ll provide our overall assessment of the economy, and then I’ll get to your specific question.

    So, what we see in Russia is that last year, we saw the economy overheating, and now what we observe in Russia is a, is sharp slowdown of the economy, with growth slowing but inflation still relatively elevated.  Growth in 2025 is expected to slow to 1.5 percent based on our forecast from April, and this was compared to 4.3 percent in 2024.  And this reflects policy tightening, cyclical factors, and also lower oil prices. 

    Now, with respect to the action by the Central Bank, as you noted, the Central Bank indeed reduced the key policy rate from 21 percent to 20 percent for the first time.  This was the first reduction since September of 2022.  And the action taken by the Central Bank was in response to slowing growth, which I just mentioned, and also some easing of inflation pressures. 

    So, as I noted, inflation still remains high.  It was just under 10 percent in May.  But our forecast has inflation declining going forward.  So, we expect inflation to ease to 8.2 percent by the end of this year.  And we anticipate that inflation will turn to the target of 4 percent in the first half of 2027.  So that’s the IMF forecast.  So, the inflation challenge for Russia remains, and it’s appropriate.  Therefore, that monetary policy remains tight, and even with this cut, monetary policy is still tight. 

    I am going to now take the opportunity to read one question or some questions on Ghana and some questions on Sri Lanka, and then we’ll bring the Press Briefing to a close.  So, on Ghana, I have three questions.  The first one is about an update on when Ghana’s program will be presented to the Board following Staff–Level Agreement. 

    The second question is about the amended Energy Sector Levy Act to add GH₵1 per liter on petroleum products to defray the cost of fuel purchases for thermal plants.  Has the IMF taken note of this, and what’s its position on using taxes versus passing these costs through tariffs? 

    The third question on Ghana is whether the IMF is looking at the possibility of revising Ghana’s IMF program targets as the cedi’s sharp appreciation against the dollar has affected many variables that influence these targets set by the Fund? 

    So let me take a moment to just respond on Ghana.  So again, stepping back to where we are on Ghana.  On April 15th, the IMF staff and the Ghanaian authorities reached Staff–Level Agreement on the Fourth Review of Ghana’s Extended Credit Facility.  Upon approval by our Executive Board, Ghana would be scheduled to receive about U.S. $370 million, bringing total support under the ECF to $2.4 billion since May of 2023.  We anticipate bringing the review to our Board in early July, so in just a few weeks. 

    What I can add about the question about the cedi’s sharp appreciation is that you know, of course, as we look at a program, we look at all of these developments, including, of course, developments in the exchange rate.  And so, future program reviews will provide an opportunity for the team to carefully assess all of the evolving macroeconomic and financial conditions, including exchange rate movements, and to ensure that the program’s targets and objectives remain appropriate and achievable. 

    And on the fuel levy, what I can say is that this is a new measure that will help generate additional resources to tackle the challenges in Ghana’s energy sector, and it’s also going to bolster Ghana’s ability to deliver on the fiscal objectives under the program. 

    And I’m going to read one last set of questions on Sri Lanka, and then we will bring the Press briefing to a close.  So, we have a number of journalists asking about Sri Lanka.  So there’s — we’re consolidating the questions here.  So, these journalists are asking for updates on the IMF’s view on Sri Lanka’s progress in implementing cost recovery, electricity prices, and the automatic price adjustment system.  They’re asking about the date for the Executive Board’s consideration of the Fourth Review under the program. 

    And another question, has the government raised the issue of recent global shocks and possible further pressure on the economy and its ability to meet its reform program targets?  How do we rate the new government’s approach to corruption? 

    QUESTIONER: My question is, recently Sri Lankan president announced that the existing IMF program is likely (inaudible) that it will be the final program for the country as it tries to achieve financial independence.  What is the IMF’s view on this?  Is it achievable given the current situation in Sri Lanka?  And what is the progress on the IMF Board approval for the next review?  Thank you. 

    MS. KOZACK: All right, so again, just stepping back and reminding where we are on Sri Lanka.

    So, on April 25th, IMF staff and the Sri Lankan authorities reached Staff–Level Agreement on their fourth review of Sri Lanka’s economic reform program.  The program and Sri Lanka’s ambitious reform agenda continue to deliver commendable outcomes.  Performance under the program remains strong overall, and the government remains committed to program objectives.  Completion of the review is pending approval of the IMF’s Executive Board, and it is contingent on the completion of prior actions. 

    What I can add is that our IMF team, of course, is closely engaged with the authorities to assess the measures that were recently announced by the regulator on June 11th.  And these include a 15 percent increase in in electricity tariffs and the publication of a revised bulk supply transaction account guidelines for this.  So, these were two prior actions.  Once the review is completed by our Executive Board, Sri Lanka would have access to about $344 million in financing, and we will announce the Board date for Sri Lanka in due course. 

    With respect to some of the more specific questions on governance, what I can add is that in end-February, the government published an updated government action plan on governance reforms.  And this action plan included important commitments such as enacting a public procurement law, an asset recovery law, and other actions that are aligned with the recommendations that were included in the IMF’s Governance Diagnostic Report. 

    On the question about kind of the global situation and the impact on Sri Lanka, what I can say there is that, like for all countries in an environment of high uncertainty around policy and in general, high global uncertainty, this poses, of course, risks to an economy like Sri Lanka’s, as it does to many others.  If some of the risks associated with high global uncertainty were to materialize, the way we will approach this will be to work very closely with the authorities first to assess the impact of any downside risk that materializes, and then we will also work with the authorities to consider what are the appropriate policy responses within the contours of the program. And more broadly, for all countries, including Sri Lanka, it’s really critical for each country to sustain its own reform momentum.  Sustaining reform momentum, both with macroeconomic policy reforms and, importantly, some of the growth-enhancing reforms that we were talking about earlier, is critical for all countries in our membership, including Sri Lanka. 

    And on the question regarding the president’s remarks, I think there, what I can simply say is to repeat that, you know, Sri Lanka has made commendable progress, you know, in implementing some very difficult but much-needed reforms.  The effects — these efforts are really starting to bear fruit.  We see a remarkable rebound in growth following Sri Lanka’s crisis.  Inflation is low, international reserves are continuing to grow, revenue collection on the fiscal side is improving, and the debt restructuring process is nearly complete.  So, I think it’s really important to recognize, you know, the significant efforts that Sri Lanka has taken and also the tremendous progress that has been made.  Right now, of course, we are very much focused on the current EFF, and therefore, as I mentioned, it’s going to be critical for Sri Lanka to sustain the reform momentum through the remainder of this EFF program. 

    And with that, I am going to bring this Press Briefing to a close.  Let me thank you all for your participation today.  As a reminder, as usual, this briefing is embargoed until 11:00 A.M. Eastern Time in the United States.  A transcript will be made available later on IMF.org, and should you have any clarifications or additional queries, please reach out to my colleagues media@imf.org. This concludes our Press Briefing for today.  I wish everyone a wonderful day, and I do look forward to seeing you all next time.  Thank you very much. 

    *  *  *  *  *

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Brian Walker

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

    MIL OSI Economics –

  • MIL-OSI China: Poland manager Probierz resigns after Lewandowski row

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

    Head coach Michal Probierz informed in a statement that he has decided to leave the Poland team after defeat against Finland in the FIFA World Cup qualifier.

    On Tuesday Poland lost to Finland 2-1 in the 2026 FIFA World Cup qualifier. Currently, which made it sit in the third place of Group G with 6 points behind Finland and the Netherlands.

    On Sunday the Polish Football Association (PZPN) informed that Piotr Zielinski replaced Robert Lewandowski to captain the national team, a decision made by the coach. Then the Barcelona forward said he would no longer represent the national team as long as Probierz remained in charge.

    “I have come to the conclusion that in the current situation, the best decision for the good of the national team is for me to resign from the position of coach. Performing this function was the fulfillment of my professional dreams and the greatest honor of my life,” coach Probierz wrote in a statement on the official site of the PZPN on Thursday.

    “I would like to thank the president and board of the Polish Football Association for their trust. I would like to thank all the players I had the pleasure of meeting on this path. I will keep my fingers crossed for all of you, because the national team is our common national asset,” he added.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: President Lee’s visit to Canada for G7 Summit

    Source: Government of the Republic of Korea

    Foreign Affairs

    President Lee Jae-myung will attend the Group of Seven (G7) Summit in Alberta, Canada.
    Presidential spokesperson Kang Yu-jung on June 7 told a news briefing, “President Lee has accepted his invitation to attend the G7 Summit from June 15-17 in Alberta, Canada.”

    The meeting will mark President Lee’s debut in summit diplomacy since he took office, with U.S. President Donald Trump, Japanese Prime Minister Shigeru and the leaders of the U.K., Germany, France, Italy and Canada to attend.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Baldwin Statement on Reports Secretary Kennedy Allegedly Rehired CDC Staff, Including Lead Prevention Staff

    US Senate News:

    Source: United States Senator for Wisconsin Tammy Baldwin
    WASHINGTON, D.C. – Today, U.S. Senator Tammy Baldwin (D-WI), Ranking Member of the Senate Appropriations Subcommittee on Labor, Health and Human Services, and Education (LHHS), released the following statement after reports that the Trump Administration reinstated some of the Centers for Disease Control and Prevention (CDC) staff that were previously fired as part of the administration’s mass layoffs across HHS:
    “If Secretary Kennedy thinks he deserves kudos for putting out part of the fire he started, he’s looking at the wrong person. This administration recklessly fired the very experts who should have been on the ground helping communities address serious public health threats – like in Milwaukee, which is grappling with a lead poisoning crisis. I have heard the harrowing stories from Milwaukee families who have children suffering from lead contamination – and it’s simply unconscionable that this administration fired the experts who could have helped them. I have been demanding that Secretary Kennedy rehire these experts for weeks, not only because Wisconsinites need and deserve it, but also because it’s the law and this administration is not above it. This administration has shown they play fast and loose with the truth, and I will not rest until I see boots on the ground in Milwaukee – and other communities just like it – to deal with this crisis.”
    In Milwaukee, lead exposure has shuttered six Milwaukee Public Schools (MPS) and displaced 1,800 children. However, after applying for support from the CDC to help mitigate the lead found in school classrooms, MPS was notified that their request for support was denied because the Trump administration fired the agency’s entire Childhood Lead Poisoning Prevention Surveillance Branch.
    Senator Baldwin and Congresswoman Gwen Moore (D-WI-04) demanded that the Trump Administration reinstate the fired CDC lead poisoning experts and approve Milwaukee’s plea for federal assistance to help keep children safe. Senator Baldwin also pressed Kennedy on the firings at a Senate Health, Education, Labor, and Pensions Committee hearing. Senator Baldwin visited Milwaukee Public Schools’ Frances Starms Discovery Learning Center to meet with parents whose children’s health was at risk and whose schools were closed this year because of lead hazards. Yesterday, Senators Baldwin and Jack Reed (D-RI) demanded written answers from Secretary Kennedy in response to detailed questions on the Trump Administration’s firing of childhood lead experts at CDC.
    Local officials continue to confirm that the requested aid is not being provided, and Secretary Kennedy has provided no documentation that the fired employees have been rehired, as Senator Baldwin demanded.

    MIL OSI USA News –

  • MIL-OSI United Kingdom: The Foreign Secretary’s Mansion House Speech 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    The Foreign Secretary’s Mansion House Speech 2025

    The Foreign Secretary delivers his 2025 Mansion House Speech.

    My Lord Mayor, Your Excellencies, ladies and gentlemen…

    thank you for hosting me.

    My thoughts are with all those affected by the tragic plane crash in Ahmedabad this morning.

    I have been in touch with Minister Jaishankar to offer my condolences…

    and the Foreign Office has stood up a crisis team to support British nationals and their families.

    Tonight, I want to speak about power.

    This is an audience which will understand that…

    because the City’s financial power scales up every innovation…

    and powers up the world economy.

    Thank you for what you do.

    I became MP for Tottenham 25 years ago.

    I’ll be honest with you…

    I didn’t feel that powerful for many of those years.

    It was a long wait to become Foreign Secretary…

    though not nearly as long as the wait for Tottenham to win a European trophy.

    Politics and supporting Spurs…

    if you stick at them…

    pay off in the end.

    I also want to thank the tens of thousands of diplomats, intelligence officers and development specialists…

    that stand up for Britain in the world.

    Together…

    we’ve tackled wars, evacuations, hurricanes, …

    and thanks to your work…

    much of it classified…

    we are all safer…

    even if your Foreign Secretary is now a little greyer…

    a little thinner…

    and, I hope, a little wiser.

    We do our work in the shadow of history.

    Coming here tonight, I think of Anthony Eden, one of the first Foreign Secretaries to speak in this tradition.

    But I do not think this is the new 1930s.

    The more compelling reference point is 1925.

    A century ago, our world was experiencing what the great historian Adam Tooze called a deluge of modernity.

    New technologies…

    new industries…

    …shifted the balance of power. 

    There is a cheap reading of the 1920s… 

    that a Second World War was inevitable.

    However, I’m not sure it was. 

    With the Locarno Treaties in 1925…

    we almost got there.

    Ultimately though, democracy failed to keep the peace.

    I look back at 1925 today…

    because 2025 is also a molten moment…

    when the earth moves.

    What we are living through is in fact a Great Remaking…

    as modernity leaps forward and reshapes geopolitics.

    In 2025, technology is power.

    Nowhere do we see this more clearly than with China…

    a great civilisation with a long history…

    but today defined as much by their technological cutting edge as anything else.

    Take DeepSeek…

    revealing Chinese AI power.

    BYD’s export boom…

    revealing Chinese battery power.

    And the Chang’e-6 moon landing…

    revealing Chinese space power.

    We cannot ignore how the West and Russia are no longer alone on the technological frontier.

    Nor can we ignore the fact that China has installed more renewables capacity than the US, EU and India combined.

    Britain will be dealing with the threats and opportunities Chinese technology poses for generations to come.

    But it is the United States…

    Britain’s closest ally….

    that is the world’s leading technological power…

    number one when it comes to biotech, AI and quantum.

    But facing such a vast challenge, it is natural the Americans will focus more on the Indo-Pacific.

    And they’ve repeatedly told us, facing Russia, we in Europe need to rely more on ourselves.

    But to quote my friend Vice-President Vance:

    “It’s completely ridiculous to think you’re ever going to be able to drive a wedge between the US and Europe.”

    I agree with J.D. Vance…

    though maybe not when it comes to his love for Diet Mountain Dew…

    I prefer a full fat Coke.

    The United States and China are doing remarkable things with new technology.

    But this is the truth about power today…

    technology is making it more diffuse.

    Power is not just in the hands of the superstates…

    nor the super-spoiler, Putin’s Russia. 

    Many powers are shaping this multipolar age.

    Since 2000, Britain has more Nobel laureates for science than China, India and Russia combined.

    South Korea makes more advanced semiconductors than China.

    The UAE has reached Mars…

    whilst Russia hasn’t been since the collapse of the USSR.

    In 1997, when my party last came to power…

    the US held the majority of the world’s top supercomputers.

    Today, barely a third.

    The cast-list of players is growing.

    When the US talks to Russia, they both head to Riyadh…

    when they talk to China, they both come to London.

    This large group of states, together, are the new great powers.

    This is also our age.

    Your Excellencies, that’s why I want to work even more closely with even more of you…

    some as allies, some as partners…

    some of you on everything, some of you on single issues.

    We are not all the same.

    We do not agree on everything.

    But together, we can build new constellations and coalitions which give us all a seat at the table.

    This is at the heart of our offer to the Global South and our new Approach to the continent Africa.

    It is the core of what I mean by progressive realism.

    Cooperation, not condescension.

    Listening, not lectures.

    A realpolitik of progress.

    For Britain, progressive realism means listening…

    deepening…

    and toughening up.

    For years…

    friends from Africa to Eastern Europe have been saying Britain needs to do more to tackle dirty money.

    Kleptocrats and money launderers rob all our citizens of wealth and security.

    We don’t need to wait for superpowers…

    we can clamp down on blatant theft ourselves.

    And so I can announce today that London will host a Countering Illicit Finance Summit…

    …bringing together a broad coalition for action.

    I will never allow London mansions to be the bitcoin of kleptocrats.

    We will expose them.

    We will punish them.

    And drive them out of our city.

    In the Middle East, I personally find the horrific suffering of civilians in Gaza intolerable.

    We all want to see an immediate ceasefire…

    the release of all the hostages…

    the end of Hamas’ reign of terror.

    That’s why Britain is leading efforts to break the deadlock through new coalitions.

    I can hear others’ desire for peace.

    With France and Canada…

    we sent a clear warning in May that Israel must stop its assault on Gaza.

    With Australia, Canada, Norway and New Zealand…

    we’ve sanctioned those inciting violence against Palestinians in the West Bank…

    the territory that must form the heart of a future Palestinian state.

    We support the Gulf’s indispensable work on mediation and a plan for the day after.

    Because the two-state solution is the only path to a lasting peace.

    But progressive realism is not only about this…

    but deepening Britain’s alliances and partnerships.

    We actually delivered three deals in two weeks with three of the world’s greatest economies.

    And that’s not all we’ve achieved – we are injecting real momentum into so many of Britain’s partnerships.

    We’re delivering deals for climate…

    launching the Global Clean Power Alliance in Brazil…

    partnering with my friend Mia Mottley’s Bridgetown Initiative…

    securing a climate tech partnership with Qatar.

    Jobs in Cambridge, jobs in Southampton.

    We’re delivering deals for defence…

    the ITAR breakthrough with our AUKUS partners…

    progress in our new fighter jet programme with Italy and Japan.

    Jobs in Glasgow, jobs in Reading.

    We’re delivering deals for growth…

    massive investments from America’s Universal…

    Japan’s car giants…

    German manufacturers…

    and Saudi investors.

    Jobs in Bedford, jobs in north Wales, jobs in Northern Ireland.

    Crucially, we’re also delivering deals on irregular migration.

    Better cooperation with the Balkans…

    new returns agreements with Iraq and Moldova…

    the world’s first sanctions regime targeting smuggling gangs and their enablers.

    This is now a priority for the Foreign Office in a way it never was before.

    This is us playing our bit ensuring those with no right to be here piling pressure on our public services.

    When partners step up on irregular migration…

    this is transforming our wider relationship.

    But if they are unwilling to do so…

    then that has to have consequences for what we can offer them in return.

    And finally, progressive realism is about toughening up.

    I came into politics inspired by the generation who were tested by war in Bosnia and Kosovo.

    My generation here in Europe is the Kyiv generation…

    one that has toughened up.

    The view from that night train to visit President Zelenskyy is not simply out into darkness…

    …but into history in the making.

    You feel what a journey Europe has been on since 2022.

    Britain has toughened up.

    As Secretary of State for GCHQ and SIS…

    I am proud that we are investing £600 million in the UK intelligence community…

    so our spies can defend our way of life.

    As a result, I can confirm today that Britain will spend two point six per cent of GDP on defence from 2027.

    This is a generational uplift…

    keeping working people safe.

    Our soldiers and our intelligence staff are ready to compete with our adversaries.

    And with the new counter-hybrid taskforce I am announcing today…

    our diplomats too will be ready for this murky new age of sabotage and subterfuge…

    where technology is power.

    And I know…

    Europe has toughened up too…

    switching to Putin-free energy…

    as the EU goes further than ever before with common borrowing for military spending.

    Putin believes that we, as Europeans, are unable to stick it out for years to come.

    But just as Ukraine’s heroes have surprised the Kremlin with their endurance…

    so too has Europe been astounding the Kremlin with our dogged persistence in standing with Zelenskyy.

    Today, we had confirmation that Russian casualties in this senseless war have reached one million.

    Every one a reminder that this war is not only a crime against the Ukrainian people…

    but a waste of young Russian lives…

    yet more blood on the Kremlin’s hands.

    With grit, we will prove Putin wrong.

    Europe is not afraid to stand up and fight.

    Our Plan for Change…

    our international strategy…

    is delivering for working people.

    I can see Britain in the years to come…

    safer…

    greener…

    richer…

    happier…

    if we stick to the Plan.

    For me, patriotism has always been about realism…

    And, of course, football!

    Taking the world as it is, not as we wish it to be.

    Taking ourselves as we are, and being proud of it.

    Taking actions that are both astute and bold.

    This is our realpolitik.

    A realpolitik of progress.

    A realpolitik for Britain.

    Thank you.

    Updates to this page

    Published 13 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Cloud Mining Demand Soars as VNBTC’s Cardano Contract Sells Out, Drawing Attention from Global Cardano Investors

    Source: GlobeNewswire (MIL-OSI)

    London, United Kingdom, June 12, 2025 (GLOBE NEWSWIRE) — On June 9, Cardano (ADA) founder announced the launch of Cardinal, a DeFi protocol built to enable Bitcoin holders to access services like staking and lending. Following the announcement, the ADA price, which has dropped by over 10% in the past month, started looking bullish. Now the weekly charts show a 5% increase and about a 2% increase in the past 24 hours. Could the Cardinal news push ADA price higher?

    In the same period, VNBTC, a popular cloud mining platform saw a surge in ADA investors leading to the ADA cloud mining contract selling out. With analysts predicting a 585% ADA price surge, it’s no surprise that investors are looking for alternative ways to accumulate Cardano (ADA).

    Despite VNBTC’s Cardano cloud mining contract selling out, ADA investors can still make substantial profits with the platform as they hold and wait for the anticipated ADA price surge. VNBTC offers a range of mining contracts, with its Bitcoin and Dogecoin cloud mining contracts offering the highest return on investment.

    Why Should Cardano Investors Invest In Cloud Mining?

    Cardano stands out for its continuous development, placing it among the top altcoins. Also, the coin has a strong community, establishing a set up for long-term growth. The launch of its new DeFi protocol will certainly increase Cardano network activity and, with it, Cardano (ADA) price. 

    However, Cardano investors looking for significant profits every day cannot solely rely on trading ADA price movements. 

    This is where VNBTC flips the script with its daily profits on Bitcoin and Dogecoin cloud mining.

    VNBTC: A Smarter Way to Earn Crypto with Your ADA Holdings

    VNBTC introduces a different era of making money through crypto investment.  Imagine earning profits daily without having to constantly analyze charts. Even better, VNBTC cloud mining is completely hands-off, meaning no expertise or mining hardware is required to start earning substantial profits. 

    Widely known as the top Bitcoin and Dogecoin cloud mining site, VNBTC has been operating since 2019. The company has a track record of delivering daily profits and protecting investor funds, with the principal investment withdrawable at the end of a contract.

    VNBTC isn’t asking you to wait for years; the cloud mining durations range from 5 days to 35 days. After which, you can decide to withdraw or reinvest. Now, ADA investors can use their holdings to purchase any of these contracts and start earning mining rewards instantly.

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    The MIL Network –

  • MIL-OSI China: Beijing International Book Fair to showcase 220,000 books

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

    BEIJING, June 12 — The upcoming 31st Beijing International Book Fair (BIBF) will gather over 1,700 exhibitors from 80 countries and regions to display approximately 220,000 Chinese and international books, the fair’s organizers said at a press conference on Thursday.

    The book fair will open on June 18 and run through June 22, with Malaysia as this year’s guest country of honor.

    It will have an exhibition space of 60,000 square meters. Nine countries are participating for the first time, including Chile, Cyprus and Belarus, and they will join leading publishers such as Elsevier, Penguin Random House and Springer Nature.

    The event will introduce specialized sections such as world cultural heritage and books marking the 80th anniversary of victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War.

    It will also include activities such as an awards ceremony, forums on international publishing and children’s books, and a copyright trade fair.

    First held in 1986, the BIBF has evolved into a premier global platform for book exhibition and copyright trade.

    MIL OSI China News –

  • MIL-OSI New Zealand: Health and Business – Ora Pharm targets growing Europe market for medicinal cannabis in trade mission

    Source: Ora Pharm

    Launches collective solution to meet needs of European customers
    Leading medicinal cannabis company Ora Pharm heads to Europe this week as part of a unique trade mission to promote New Zealand pharmaceutical products based on cannabis in the fast-growing European market.
    “European Cannabis Week is a huge opportunity to showcase New Zealand’s medicinal cannabis industry and promote what we do well,” said Ora Pharm Chief Executive and founder Zoe Reece.
    The NZTE trade mission to European Cannabis Week takes Ora Pharm and other companies to the world’s largest cannabis expo in Berlin and to the Cannabis Europa Conference in London.
    “We want to show the European market that Ora Pharm is uniquely placed to solve the issues it faces from fragmented supply, inconsistent quality and problems reliably meeting demand. What Ora Pharm does is unite our growers under a single export-focused platform, which allows us to coordinate supply and produce high quality pharmaceutical products consistently.”
    Ora Pharm currently contracts about two thirds of the licensed New Zealand cannabis cultivators.
    “Ora Pharm can be a one-stop shop for European customers – we aim to give them confidence that we can provide the quality products they need, tailored to the preferences of their patients, and at scale given our partnership with growers.
    “Complying with regulations is critically important and New Zealand’s regulatory framework is modelled on EU-GMP – the regulatory framework that ensures medicines are safe, effective, and of high quality so that should also help build confidence in our products.”
    Germany is the leading market for medicinal cannabis with forecast growth of over 26% (compound annual growth). In the first nine months of 2024 Germany imported nearly 40 tonnes of medicinal cannabis, and New Zealand made up just 0.6% of that. Demand is also growing strongly in the UK, Switzerland and Poland.
    “Right now, European producers can’t keep up with demand. New Zealand with its enviable reputation for high quality agricultural and horticultural products is well placed to take advantage of that and build a long-term trading relationship.”
    Zoe Reece will be delivering a keynote address at the BvCW Expert Conference in Berlin.
    “This trade mission will position the industry well for future growth. I can’t wait to tell our great medicinal cannabis story.”

    MIL OSI New Zealand News –

  • MIL-Evening Report: NZ has a vast sea territory but lags behind other nations in protecting the ocean

    Source: The Conversation (Au and NZ) – By Conrad Pilditch, Professor of Marine Sciences, University of Auckland, Waipapa Taumata Rau

    Getty Images

    For the past fortnight, the city of Nice in France has been the global epicentre of ocean science and politics.

    Last week’s One Ocean Science Congress ended with a unanimous call for action to turn around the degradation of the ocean. And this week, the United Nation’s Ocean Conference agenda focused on better protection of marine biodiversity, sustainable fisheries and emissions cuts.

    The message is clear. With only five years to the UN’s 2030 target for its sustainable development goal – to conserve the oceans, seas and marine resources – and the Global Biodiversity Framework requirement to protect 30% of the ocean, we need to make significant progress.

    We all attended last week’s meeting, together with more than 2,000 marine scientists from 120 countries. Here, we reflect on New Zealand’s role and obligations to contribute to these global goals.

    Legal imperatives

    Globally, the ocean is warming and acidifying at accelerating rates. New Zealand’s waters are not immune to this, with more marine heatwaves which further stress our threatened marine biodiversity.

    We depend directly on these ocean ecosystems to provide the air we breathe, moderate the impacts of climate change and feed millions of people.

    New Zealand has significant influence on ocean policy – from Antarctica to the sub-tropical Pacific, and within its sea territory, which is 15 times the size of its landmass and spans 30 degrees of latitude.

    The government is required by law to take action to secure a healthy ocean.

    A recent advisory opinion from the International Tribunal on the Law of the Sea unanimously found that states, including New Zealand, have obligations under international law to reduce the impacts of climate change on marine areas, to apply an ecosystem approach to marine law and policy, reduce pollution and support the restoration of the ocean.

    New Zealand courts have recognised the need to take a precautionary and ecosystem-based approach to marine management, based on science, tikanga and mātauranga Māori. These legal cases are part of a global upswell of strategic environmental and climate litigation.

    If New Zealand does not comply with these marine legal obligations, it may well find itself before the courts, incurring significant legal and reputational costs.

    New Zealand committed to protecting at least 30% of the world’s coastal and marine areas by the end of this decade.
    Getty Images

    International agreements

    In 2022, New Zealand was one of 196 countries that committed to protecting at least 30% of the world’s coastal and marine areas by 2030 under the Global Biodiversity Framework. New Zealand was an enthusiastic supporter, but only 0.4% of its marine territory is fully protected in no-take marine reserves.

    Former prime minister Helen Clark has criticised the current government for lagging behind on marine protection, especially in failing to ban bottom trawling.

    At this week’s UN ocean summit, a further 18 countries have ratified an agreement known as the High Seas Treaty, bringing the total to 50, still short of the 60 nations needed for it to enter into force.

    New Zealand signed this treaty just before the last general election, but is yet to ratify it. Foreign Minister Winston Peters represented New Zealand at the UN ocean conference, but focused mainly on issues in the Pacific.

    Meanwhile, the government announced sweeping changes to the national direction on environmental policy, including reworking the New Zealand Coastal Policy Statement to better enable the use and development of the coastal environment for “priority activities” such as aquaculture, resource extraction, infrastructure and energy.

    Oceanic environmental change is real and accelerating

    Some countries showed that effective leadership can help navigate to a safe future for the oceans. For example, China’s commitment to clean energy has seen carbon dioxide emissions begin to fall for the first time despite higher power consumption.

    At the UN ocean summit, French Polynesia’s president announced his administration would establish one of the world’s largest networks of marine protected areas.

    The cost of inaction far outweighs the economics of the status quo. Ongoing ocean warming is already affecting weather patterns, with more extreme storms.

    It is possible for marine ecosystems to recover quite rapidly if they are protected, at least temporarily. Yet this year, New Zealand’s government found itself in hot water (once again) with both conservationists and Māori for its management of fisheries.

    We argue New Zealand has an opportunity and responsibility to demonstrate it can shift the downward spiral of oceanic degradation.

    The overwhelming message at the half-way point of the UN Ocean Decade is that for marine science to transform the state of our oceans it needs to include Indigenous peoples who have routinely been sidelined from ocean policy discussions despite their longstanding rights and relationships with the ocean.

    New Zealand already has a foundation of transdisciplinary and Indigenous ocean research to develop ocean policies that are fit for local purposes and to answer global calls to action. We have a unique window of opportunity to lead the changes needed.

    Conrad Pilditch currently receives funding from the Department of Conservation and the Ministry for Business, Innovation and Employment.

    Elizabeth Macpherson receives funding from Te Apārangi The Royal Society.

    Karin Bryan receives funding from the Marsden Fund, the Ministry for Business, Innovation and Employment, the George Mason Centre for the Natural Environment and Waikato Regional Council.

    Simon Francis Thrush receives funding from ERC, Ministry for Business, Innovation and Employment and the Auckland Foundation

    Joanne Ellis, Karen Fisher, and Rachael Mortiaux do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. NZ has a vast sea territory but lags behind other nations in protecting the ocean – https://theconversation.com/nz-has-a-vast-sea-territory-but-lags-behind-other-nations-in-protecting-the-ocean-258470

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Two-state solution in the Middle East has been a core US policy for 25 years – is the Trump administration eyeing a change?

    Source: The Conversation – Global Perspectives – By Dan Arbell, Scholar-in-residence at the Center for Israeli Studies, American University

    Mike Huckabee, the U.S. ambassador to Israel, holds a note given to him from President Donald Trump to be placed in the cracks of the Western Wall in the old city of Jerusalem on April 18, 2025. Gil Cohen-Magen/AFP via Getty Images

    For a generation, the promotion of a “two-state solution” to the Israeli-Palestinian conflict has been a core pillar of U.S. policy in the Middle East.

    But ahead of a major United Nations conference on how to advance that solution, some are asking if Washington is eyeing a change.

    On June 10, 2025, the U.S. ambassador to Israel, Mike Huckabee, stated in an interview to Bloomberg that he opposes the establishment of a Palestinian state at this time, noting that “unless there are some significant things that happen that change the [Palestinian] culture, there is no room for it.” He added that those changes “are not likely to occur in our lifetime.”

    Asked if the establishment of a Palestinian state is still the goal of U.S. policy, Huckabee replied, “I don’t think so.” He went on to mull the carving out of land from a Muslim-majority country for Palestinians, rather than a future homeland for them coming from the area currently controlled by Israel and the Palestinian Authority in the West Bank.

    The comments by Huckabee, a Donald Trump political appointee and ardent pro-Israel Evangelical Christian, have been interpreted as a signal that the Trump administration is potentially breaking away from long-standing U.S. policy. Adding credence to that view has been the administration’s antipathy toward the U.N. conference on the two-state solution, due to convene in New York from June 17-20.

    As a 25-year veteran of the Israeli Foreign Service who served in the embassy in Washington twice, I know that such a turn in U.S. policy is possible. But it is not without difficulties, as the Trump administration will need to present an alternative plan for resolving the conflict.

    President Trump has recently shown he is prepared to break with long-standing U.S policies, as was the case in his decision to lift sanctions on Syria and meet with the country’s interim president, Ahmed al-Sharaa – to the great surprise of many. But calling it quits on the two-state solution is different – it could lead to the further destabilization of an already unstable region.

    What is the two-state solution?

    For the past quarter-century, U.S. policy – endorsed by Republican and Democratic administrations alike – has advocated for the resolution of the Israeli-Palestinian conflict through the advancement of a two-state solution. In practical terms, this means the establishment of a Palestinian state encompassing the Palestinian people currently living in the occupied West Bank and possibly the Hamas-controlled Gaza Strip, alongside the state of Israel.

    The idea that these two coexisting states could provide a permanent end to the conflict formally came to prominence in June 2002 as part of the Road Map to Peace for the Middle East Conflict announced by U.S. President George W. Bush and adopted by the International Quartet on the Middle East, comprising the U.S., Russia, European Union and the U.N.

    U.S. President George W. Bush, Israeli Prime Minister Ariel Sharon, left, and Palestinian President Mahmoud Abbas in Aqaba, Jordan, in June 2003.
    Hussein Malla/AFP via Getty Images

    U.S. Presidents George W. Bush and Barack Obama took active steps to advance the two-state solution, including direct involvement in negotiations between Israelis and Palestinians.

    And in his first term, Trump presented his own plan, which he called the “Deal of the Century.” With the subheading “a realistic two-state solution,” it laid out a path to Palestinian statehood if the Palestinians’ political leadership met a set of benchmarks.

    President Joe Biden continuously raised the two-state solution as the most viable way to resolve the conflict – even after the Oct. 7, 2023, attacks by Hamas and the war subsequently launched by Israel in Gaza.

    But for years, international observers have worried about the viability of the two-state solution in the face of opposition from right-wing Israeli governments, continued Israeli settlement activity in the West Bank, and weak and divided Palestinian leadership and polity. Yet the alternatives – including continued Israeli occupation, a one-state solution or a confederation with Jordan – are viewed as less viable options.

    Galvanizing support behind statehood

    For these reasons, the two-state solution remains the most acceptable formula to much of the international community.

    Member states of the European Union, Arab countries, as well as most countries in Asia, Latin America and Africa, have been advocating for decades for the implementation of the two-state solution and have incorporated it into their foreign policies.

    The upcoming U.N. conference in New York, to be chaired by France and Saudi Arabia, intends to underscore the importance of getting to a two-state outcome.

    While there is no real expectation the conference will lead to the establishment of a Palestinian state anytime soon, it aims to galvanize international support for the concept of Palestinian statehood.

    Huckabee’s comments were made in the context of the U.N. conference. And they are of no real surprise: Huckabee’s personal views on the subject are very well known.

    But the former Arkansas governor is now the United States’ representative in Israel, and that gives his words weight.

    Warning or notice of intent?

    While there was wide speculation that the comments reflect a change in U.S. policy, the Trump administration did not rush to endorse them – but nor did it distance itself from Huckabee’s words.

    As the war in Gaza continues, there is a growing realization among leading Republicans as well as mainstream Democrats in the U.S. that talk of advancing the two-state solution is premature if not unrealistic at present, especially taking into account the stern opposition of Israeli Prime Minister Benjamin Netanyahu’s nationalist-religious government.

    But that does not suggest the Trump administration has necessarily steered away from this option for the future.

    Rather, it could be that the U.S. administration has calculated that as it devotes efforts to ending the war in Gaza, at least temporarily, and securing the release of the remaining Israeli hostages being held, talk of a two-state solution now is counterproductive to its efforts.

    And Huckabee’s comments may be aimed more at those delegates shortly arriving in New York for the U.N. summit, serving as a warning rather than a notice of intent.

    In a cable sent from the State Department to U.S. embassies around the world, American diplomats were reportedly asked to discourage countries from participating in the conference – not because the U.S. is “disowning” the two-state solution, but rather because the administration believes the conference may undermine its current efforts.

    The cable stated that the U.S. opposes any steps that unilaterally recognize a Palestinian state, which it feels “adds significant legal and political obstacles to the eventual resolution of the conflict.”

    The wording was not coincidental. U.S. policy has been consistent over the years in stating that any resolution of the conflict should be reached through negotiations between the main parties – the Israeli government and Palestinian representatives – which need to refrain from taking any unilateral steps.

    A man walks in front of a sign with portraits of U.S. President Donald Trump and Ambassador to Israel Mike Huckabee in central Jerusalem on May 7, 2025.
    Ahmad Gharabli/AFP via Getty Images

    Getting ahead of policy

    Notwithstanding all this, Huckabee’s comments were not made in a vacuum.

    While the U.S. administration has not formally moved away from the two-state formula, there is a growing number of conservatives in Congress, as well as in the Washington think-tank community, that see an opportunity to bring a change in U.S. policy in the aftermath of the Oct. 7 attacks.

    In his first term, Trump was relatively tepid in his approach. So far in his second term, he has given little sign of where he stands on the issue. Huckabee’s comments, in this regard, may have been a subtle nudge – with the ambassador getting ahead of where he hopes policy is heading.

    Dan Arbell 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. Two-state solution in the Middle East has been a core US policy for 25 years – is the Trump administration eyeing a change? – https://theconversation.com/two-state-solution-in-the-middle-east-has-been-a-core-us-policy-for-25-years-is-the-trump-administration-eyeing-a-change-258753

    MIL OSI – Global Reports –

  • MIL-OSI USA: Ranking Members Frankel, Shaheen, Schatz, Meeks Statement on Recissions Package Cuts to Foreign Assistance

    Source: United States House of Representatives – Congresswoman Lois Frankel (FL-21)

    Washington, DC – Today, Representative Lois Frankel (D-FL), Ranking Member of the U.S. House Appropriations Subcommittee on National Security, Department of State and Related Programs joined U.S. Senators Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Foreign Relations Committee and Brian Schatz (D-HI), Ranking Member of the U.S. Senate Appropriations Subcommittee on State, Foreign Operations and Related Programs, and Representative Gregory W. Meeks (D-NY), Ranking Member of the U.S. House Foreign Affairs Committee, in issuing the following statement concerning the recissions package sent to Congress by the Trump administration, which would cut $8.3 billion in foreign assistance, including $900 million in cuts to global health programs, as well as cuts to democracy assistance, economic and development assistance, and economic and energy support for Ukraine and other states affected by Russia’s illegal invasion:

    “The cuts to U.S. foreign assistance in the White House’s recissions package undercut key American national security interests and risk our country’s safety and prosperity. Our soft power toolkit helps prevent conflict and promote democracy and stability. The draconian DOGE cuts that President Trump and Elon Musk have put in place have been justified through misleading claims that ignore the harm to America and global death toll that have resulted from their actions. Their claims about fiscal responsibility are laughable in the context of President Trump’s push at all costs to pass a budget that adds $2.4 trillion in deficits while stripping millions of Americans of their health care,” said the Members.

    “When America retreats from the world, China and Russia advance. And when our adversaries take our place, America is weaker and more vulnerable. Our manufacturers and workers get boxed out of export markets by unfair economic competition from China. And vulnerable populations around the world, suffer from severely restricting access to HIV treatment and prevention services to forcing food ration cuts in refugee camps.

    “That is the legacy of DOGE’s impact on America’s foreign policy infrastructure and soft power. Our country in retreat in the face of great power adversaries. Our global influence diminished. And the poorest of the poor globally being left to die because of slipshod cuts by tech dilettantes.”

    ###

    MIL OSI USA News –

  • MIL-OSI United Kingdom: The UK voted in favour in line with our unwavering determination to end the suffering in Gaza, bring the hostages home and move towards lasting peace: UK Statement at the UN General Assembly

    Source: United Kingdom – Government Statements

    Speech

    The UK voted in favour in line with our unwavering determination to end the suffering in Gaza, bring the hostages home and move towards lasting peace: UK Statement at the UN General Assembly

    Explanation of vote by Ambassador Barbara Woodward, UK Permanent Representative to the UN, after the adoption of UN General Assembly resolution A/RES/ES-10/27 on the Occupied Palestinian Territories.

    The UK voted in favour of this resolution in line with our unwavering determination to end the suffering in Gaza, bring the hostages home and move towards lasting peace in the region.

    Let me start by repeating our unequivocal condemnation of Hamas and their despicable actions on and since 7 October. They must be held accountable and can play no role in the future governance of Gaza. The UK’s commitment to Israel’s security is resolute.

    President, the text of the resolution is clear that both Israel and Hamas need to agree to an immediate and unconditional ceasefire; that Hamas must immediately and unconditionally release the hostages; and that Israel, as the occupying power, must end its blocks on aid and ensure unhindered humanitarian access.

    And crucially, there must be an end to any actions that stand in the way of a two-state solution and the best chance for peace for the Israeli and Palestinian people.

    That is why this week, the UK, along with Australia, Canada, New Zealand, and Norway, sanctioned Bezalel Smotrich and Itamar Ben-Gvir. These two men are responsible for inciting settler violence against Palestinians in the West Bank with their extremist rhetoric. Attacks by violent settlers have led to the deaths of Palestinian civilians and the displacement of whole communities.

    We will not stand by while Israeli actions attempt to entrench a one-state reality.

    The UK is deeply concerned by ongoing Israeli operations in the West Bank, including incidents where children have been killed. This is appalling and unacceptable.

    President, there can be no military solution to this conflict.

    Over 55,000 Palestinians have been killed and the IPC have been clear that half a million people are facing starvation. 

    Israeli Government policies which have completely blocked or severely restricted humanitarian aid are unacceptable. That civilians have been killed whilst desperately trying to feed their families is inhumane. And the UK rejects any attempts at demographic or territorial change in the Gaza strip.

    While the UK voted in favour of this resolution, we wish to clarify that our long-standing position remains that Common Article 1 of the Geneva Conventions does not impose a legal obligation on states to ensure respect for international law by third parties.

    President, a two-state solution remains the only viable framework for a just and lasting peace. This is the fundamental principle that we must continue to strive for, to end the cycle of violence and give Palestinians and Israelis alike a better future.

    We welcome the leadership of France and Saudi Arabia in convening next week’s Conference in pursuit of this.

    Updates to this page

    Published 12 June 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: AG Labrador Backs Federal Response to the Violence in California

    Source: US State of Idaho

    Home Newsroom AG Labrador Backs Federal Response to the Violence in California

    BOISE — Attorney General Raúl Labrador and 24 other Republican Attorneys General issued a joint statement supporting President Trump’s decision to deploy the National Guard in response to violent rioting in California.
    “We will always defend the right to peacefully protest, but there’s nothing peaceful about arson, assault, and anarchy. If you set police cars on fire, throw Molotov cocktails at law enforcement, and loo businesses, you must be held accountable.
    “In California, we’re seeing the results of leadership that excuses lawlessness and undermines law enforcement. When local and state officials won’t act, the federal government must.
    “We stand with law enforcement, we support President Trump’s action, and we will not let chaos take hold in our states.”
    Republican Attorneys General across the country stand united in condemning:

    Violent attacks on law enforcement
    The normalization of mob violence as ‘activism’
    Any attempt to delegitimize efforts to restore order
    Leaders who put politics above public safety

    Attorney General Labrador joined the coalition which includes the Attorneys General of Georgia, Alabama, Arkansas, Florida, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, and West Virginia.
    Read the letter here.

    MIL OSI USA News –

  • MIL-OSI New Zealand: Prime Minister to visit China and Europe

    Source: New Zealand Government

    Prime Minister Christopher Luxon will travel to China and Europe next week. He will be joined in Shanghai and Beijing with a delegation of senior New Zealand business leaders.

    “China is New Zealand’s largest trading partner and a vital part of our economic story,” Mr Luxon says.

    The visit will focus on growing trade, which was worth over $38 billion last year, as well as also look to strengthen education and tourism links and to maximise opportunities for New Zealand businesses.

    “New Zealand is a trusted supplier of safe, high-quality food and beverage products to Chinese consumers. It is an important market, and I look forward to doing what I can to support Kiwi businesses to thrive,” Mr Luxon says.

    China is New Zealand’s largest source of international students and is our third-largest tourism market. 

    “This visit is about backing the recovery of international education and tourism and putting New Zealand front and centre as a world-class destination for travel, study, and long-term connection,” Mr Luxon says.

    The Prime Minister will meet China’s top leadership, including President Xi Jinping and Premier Li Qiang, to discuss the comprehensive bilateral relationship and key regional and global issues.

    “The challenging global outlook makes it vital that we are sharing perspectives and engaging China on issues that matter to New Zealand.”

    The Prime Minister will be accompanied by the 2025 Te Matatini champions, Te Kapa Haka o Ngatī Whakaue.

    The Prime Minister and his delegation will be in China from 17 to 20 June.

    Europe

    Mr Luxon will then travel on to Europe to undertake bilateral visits in Brussels and the Hague. He will meet with leaders, including from the European Union, to discuss trade, security, and the shifting geopolitical landscape.  

    “We have a high-quality trade relationship with the European Union, and the Netherlands and Belgium are gateways for New Zealand’s growing exports to Europe,” Mr Luxon says. 

    “Since the early entry into force of the New Zealand-European Union Free Trade Agreement, Kiwi goods exports have grown by over 25 per cent, which is a more than NZ$1 billion increase.” 

    In the Netherlands, the Prime Minister will participate in the NATO Summit and hold one-on-one talks with a number of NATO leaders. 

    “Prosperity is only possible with security, and our discussions will focus on connections between the Euro-Atlantic and Indo-Pacific security environments,” Mr Luxon says. 

    New Zealand has been invited to the NATO Summit alongside other members of the Indo-Pacific Four – Australia, Japan and Korea. 

    “I look forward to building our positive relationship with our European friends, and to forging stronger links with businesses and investors as part of our wider plan to rebuild New Zealand’s economy.” 

    The Prime Minister is in Europe from 21 to 25 June

    MIL OSI New Zealand News –

  • MIL-OSI Russia: Dmitry Chernyshenko congratulated citizens on Russia Day at the opening of the Museum of Crimea and Novorossiya in Sevastopol after the exhibition was updated

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    On Russia Day, the Museum of Crimea and Novorossiya opened its updated permanent exhibition at the New Chersonesus museum and temple complex in Sevastopol. Before the opening, a flag parade took place, presenting the history of Russia through the evolution of its flags – from the banner of Dmitry Donskoy to the modern tricolor. Each flag reflected its era and its values.

    “I congratulate everyone on Russia Day! All the flags that passed in the parade were in one way or another related to historical events that took place many centuries ago. But, of course, the most important event is the baptism of Rus, which predetermined the future of the statehood of our country and the unification of the Slavic peoples,” said Deputy Prime Minister Dmitry Chernyshenko.

    The Deputy Prime Minister, together with Metropolitan Tikhon of Simferopol and Crimea, the Governor of Sevastopol Mikhail Razvozhaev and the head of the Foundation for the Support of Humanities “My History” Ivan Yesin assessed the new exhibition.

    Dmitry Chernyshenko added that the opening of the updated exhibition is a very important event for the further development of the spiritual and educational center “New Chersonesos”.

    “We see a continuing interest in all the exhibits: over half a million people have visited the exhibition in six months. I am sure that after the opening of the updated exhibit, the number will increase even more. Memory is probably the most important thing we should preserve. And as our President says, while respecting our memory, we should be focused on the future, learning from the lessons of our history,” he said.

    The updated exhibition has received a fundamentally new format. Each hall is an interactive “paragraph of a living history textbook” combining modern technologies and proven scientific material. Instead of traditional showcases, there are documentaries, historical reconstructions, archival photos and maps visualized with the help of artificial intelligence. The technological platform of the exhibition is based on new-generation multimedia solutions: artificial intelligence is used not only to visualize historical stories, but also to create reconstructions of urban landscapes, household items, architecture and images of people from different eras. All digital materials have been collected and verified by professional historians and employees of specialized museums.

    The museum has become a space for historical immersion, where the past comes to life in meaningful halls: from the map of Prince Vladimir’s campaign to Korsun, which marked the beginning of Christian Rus’, to the manifesto of Catherine II on the annexation of Crimea. The exhibition takes the viewer through the drama of the collapse of the USSR and the difficult fate of Crimea and Novorossiya, the era of the all-Union health resort and the turning points of the Yalta Conference to the military valor of the peninsula during the Great Patriotic War and the history of the Black Sea Fleet. The route ends with halls dedicated to outstanding people who played a key role in the history of Crimea, and historical events that shaped its modern appearance.

    “The museum and temple complex presented two grand projects today. The flag parade – a brilliant idea of Bishop Tikhon – demonstrated the course of history, the formation of Russian statehood. The new exhibition of the Museum of Crimea and Novorossiya is a truly exciting spectacle that will allow all Sevastopol residents and guests of our city to visually immerse themselves in the history of our country. And now we are all creating the future with our own hands. I am sure that it will be even greater. The progressive movement of our country will continue if we all put maximum effort into it,” said Sevastopol Governor Mikhail Razvozhaev.

    The updated exhibition is oriented towards both independent visits and excursion formats.

    The initiative to create a spiritual and educational center in Sevastopol was first expressed by the President of the Russian Federation during a visit to the Chersonesos Taurica Museum-Reserve in 2015.

    Also in Sevastopol, Deputy Prime Minister Dmitry Chernyshenko and Governor Mikhail Razvozhaev laid flowers at the Eternal Flame at the Soldier and Sailor monument. Teenagers from the governor’s school labor teams also took part in the laying ceremony.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Russia: In Sevastopol, Dmitry Chernyshenko and Metropolitan Tikhon discussed traditional values and the national project “Youth and Children” with young people

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

    Deputy Prime Minister Dmitry Chernyshenko and Metropolitan Tikhon of Simferopol and Crimea held a meeting with young people on Russia Day at the Tochka Opory center. Sevastopol Governor Mikhail Razvozhaev also took part in it.

    Dmitry Chernyshenko congratulated everyone on Russia Day and noted that this time it is especially significant: “2025 is the year of the 80th anniversary of our Great Victory and the year declared by our President Vladimir Putin as the Year of the Defender of the Fatherland.”

    He stressed the importance of preserving and transmitting traditional spiritual and moral values.

    “An entire national project was launched – this is also a precedent, there is nothing like it anywhere in the world – “Youth and Children”. It has a large number of events, more than 160. And since you guys are active, leaders of the youth movement, you must navigate these events and understand how these events will work to strengthen the values that are enshrined in the presidential decree,” said the Deputy Prime Minister.

    Dmitry Chernyshenko spoke about the measures of the national project “Youth and Children”.

    Thus, within the framework of the national project, the competition “Region for the Young” is being held. A year ago, President Vladimir Putin opened 12 year-round youth educational centers. For example, in Crimea and Sevastopol, this is the Academy of Creative Industries “Meganom” and the youth historical and cultural center “Istoki”.

    The key events in these centers will be the Rosmolodezh forums, of which there will be 27 this year with the participation of about 20 thousand people. Among them are the Territory of Meanings forum, the Tavrida.ART educational trips at the Meganom Academy, the Mashuk forum at the Mashuk knowledge center, the Shum media forum in the Kaliningrad region, etc.

    “The national project includes many different subprojects: development of volunteerism, for example, the “Region of Good Deeds” competition, implementation of international programs and events based on 90 open friendship clubs or at the annual youth rally. By the way, this year it will be held in Nizhny Novgorod and will unite 2 thousand people from different countries. One cannot help but recall patriotic projects, including the “Orlyata Rossii” and “Zarnitsa 2.0″ programs,” the Deputy Prime Minister said.

    During the meeting, Dmitry Chernyshenko answered questions from young people. For example, the coach of the International Volunteer Corps of the 80th Anniversary of Victory, Kristina Menshakova, asked how to understand that you are a patriot of your homeland. And the curator of the governor’s school labor teams, Sergei Sychev, asked about mentors: how the vice-premier understands the word “mentor” and whether he had any.

    Answering questions, Dmitry Chernyshenko mentioned that he himself is a mentor to Hero of Russia Stepan Belov within the framework of the “Time of Heroes” program.

    “It is here, in Sevastopol, that there is a special place of power for our country, and in all centuries our enemies have tried to lay claim to this place, to hatch various plans. We understand the significance of the baptism of Rus, which ensured our future statehood. In difficult moments of our Fatherland, the words of Admiral Kornilov “Defend Sevastopol!” came to mind. In the life of our and your generation, there is now a time when we must again defend both Sevastopol and our values. But I am sure: we will cope with everything,” said Governor Mikhail Razvozhaev.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Canada: National Coordinators advance work on Icebreaker Collaboration Effort 

    Source: Government of Canada News

    Representatives from Canada, Finland and the United States met to discuss the next steps in the collaboration to build Arctic and polar icebreakers

    June 12, 2025  – Ottawa, Ontario                     

    The National Coordinators of the Icebreaker Collaboration Effort (ICE Pact) and other officials from the governments of Canada, Finland and the United States (U.S.) have successfully concluded a 2-day meeting to discuss their shared commitment to strengthening Arctic presence and icebreaking capabilities through the ICE Pact.

    During the discussions, delegates from Canada, Finland and the U.S. successfully advanced deliverables under the ICE Pact workplan by focusing on the 4 areas of work: technical expertise and information exchange, workforce development, relations with allies and industry, and research and development.

    The 3 countries each presented their initial review and analysis of their Request for Information, which collected industry views and recommendations within their respective markets. This will help in engaging with interested shipyards and supply chains, and in laying the groundwork for future involvement with the private sector. 

    The delegates also participated in a panel discussion and roundtable with Canadian industry, academia and think tank representatives, hosted by the Canadian Global Affairs Institute. The event was an important forum to discuss the purpose and potential of the ICE Pact and identify opportunities for industrial collaboration. Participants shared valuable insights into the national perspectives on the ICE Pact and Arctic collaboration, promoting trilateral cooperation and strengthening stakeholder support for ICE Pact activities.

    The 3 partner countries concluded a successful meeting with a strong commitment to continue the ICE Pact work. They agreed to meet again in-person in fall 2025. The U.S. will host the next meeting.

    MIL OSI Canada News –

  • MIL-OSI: Issue of 32.274 MEUR Green Bonds of UAB “Atsinaujinančios energetikos investicijos” and implementation of the cash tender offer

    Source: GlobeNewswire (MIL-OSI)

    UAB “Atsinaujinančios energetikos investicijos” (hereinafter, the “Company”) on 11 June 2025 has finished a public offering led by FMĮ “Orion securities” during which the Company has successfully distributed 32.274 MEUR Green Bonds first series and first tranche issue at 8.0% yield, under its EUR 100 million unsecured fixed-interest note programme. The base prospectus of the programme was approved by the Bank of Lithuania on 27 May 2025. This transaction marks a continuation of the implementation of a distinctive Green Bond Programme in the Baltic market. The proceeds from the note issuance will be used to refinance existing bonds (ISIN LT0000405938).

    32.274 MEUR Green Bonds issue (issue date 13 June 2025) is expected to be listed on the Baltic Bond list of Nasdaq Vilnius not later than within 30 days as from the issue date.

    Additional information:

    Issuer’s full name UAB “Atsinaujinančios energetikos investicijos”
    Issuer’s short name AEIB050025A
    Securities ISIN code LT0000134439
    Nominal value of one bond EUR 100,000, which may be increased in increments of EUR 1,000
    Total aggregated nominal value EUR 32,274,000
    Issue commencement date: 2025-06-13
    Maturity date 2027-12-13

    On 12 June 2025 the Company has also closed a cash tender offer, during which holders of EUR 2021/2025 notes (ISIN LT0000405938) were offered to tender their notes for 99 per cent of denomination per each note. As a result of the tender, the Company will redeem 10 102 units of EUR 2021/2025 notes (ISIN LT0000405938) for a total price of EUR 10 000 980. Investors will receive tender cash payment on 16 June 2025.

    Investors who subscribed for bonds via exchange offer will receive newly issued notes to their investment accounts on 16 June 2025.

    After issue of new notes and implementation of the cash tender offer outstanding nominal value of EUR 2021/2025 notes (ISIN LT0000405938) will be EUR 54 134 000.

    FMĮ “Orion securities” acted as Arranger and Dealer on the transaction, law firm TGS Baltic acted as legal advisor of the transaction.

    Contact person for further information:

    Mantas Auruškevičius

    Manager of the Investment Company

    mantas.auruskevicius@lordslb.lt

    The MIL Network –

  • MIL-OSI Africa: Egypt: President El-Sisi Speaks with German Chancellor

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

    Download logo

    Today, President Abdel Fattah El-Sisi spoke by phone with German Chancellor Friedrich Merz.

    The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said President El-Sisi congratulated the German Chancellor on his well-deserved victory in the German elections, which reflected the confidence of the German people. The President wished the new government success in its ambitious plans to consolidate Germany’s pivotal role on the European and international arenas. The President noted that the current situation is of paramount importance in light of the accelerating regional and international changes and the urgent need to respect established international rules and principles and international law, in alignment with Germany’s efforts and expertise over recent decades.

    The German Chancellor expressed his appreciation for the kind gesture and emphasized his country’s commitment to maintaining close relations with Egypt. Both sides affirmed their commitment to strengthening and deepening bilateral relations in all fields, particularly economic, trade, and investment, as well as enhancing development cooperation, thus strengthening ties between the two friendly peoples.

    The call focused on the current regional and international developments. President El-Sisi reviewed ceasefire efforts in Gaza and stressed that it was important for the international community to exert pressure for an immediate cessation of military operations in the Strip and the provision of humanitarian aid, in addition to the complete rejection of plans to displace Palestinians from their land. The President noted the importance of expanding recognition of the Palestinian state in line with the two-state solution.

    The call also touched on the developments in Syria, Lebanon, Libya, Sudan, and Somalia, as well as ways to restore stability in the Middle East. The German Chancellor affirmed his country’s commitment to continuing coordination and consultation with Egypt to restore regional calm and peace.

    – on behalf of Presidency of the Arab Republic of Egypt.

    MIL OSI Africa –

  • MIL-OSI Russia: Chinese Foreign Minister Calls for Strengthening Ties with African Countries

    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

    CHANGSHA, June 12 (Xinhua) — Chinese Foreign Minister Wang Yi on Thursday held separate meetings with a number of high-ranking African officials who arrived in China to attend the opening ceremony of the 4th China-Africa Economic and Trade Expo and the ministerial meeting of the coordinators of the implementation of the Forum on China-Africa Cooperation (FCAC) in Changsha, capital of central China’s Hunan Province.

    Among the African dignitaries Wang met were Ugandan Prime Minister Robin Nabbanja, Liberian Vice President Jeremiah Kun, Rwandan Foreign Minister Olivier Nduhungirehe, Somali Foreign Minister Abdisalam Abdi Ali, Mozambican Foreign Minister Maria Manuela dos Santos Lucas and Togolese Foreign Minister Robert Dusset.

    At the meeting with Robina Nabbanja, Wang Yi, also a member of the Politburo of the CPC Central Committee, said that the leaders of China and Uganda have established mutual trust and friendship, providing impetus and guarantees for the development of bilateral relations. According to him, in the first quarter of this year, Ugandan exports to China increased by nearly 90 percent year-on-year, and the Chinese side hopes to deepen practical cooperation with Uganda in various fields.

    The Ugandan leader thanked China for its valuable support in Uganda’s infrastructure construction and socio-economic development over a long period of time. She expressed hope to deepen cooperation with China in key areas such as airport expansion, digital transformation and agricultural modernization.

    Speaking with Jeremiah Kuhn, Wang Yi recalled that the leaders of China and Liberia held a meeting on the sidelines of the FCAC Beijing Summit, during which they announced a new positioning of the strategic partnership between the two countries. The Chinese diplomat said that China is willing to continue to implement the agreements reached by the heads of state and the important results of the FCAC Beijing Summit with Liberia, so as to continuously bring benefits to the peoples of the two countries.

    The Vice President of Liberia expressed gratitude to China for his country’s long-term and selfless support and assistance. He stressed his willingness to continue to work with China to implement the consensus of the leaders of the two countries and advance cooperation in such sectors as maritime affairs, green energy, health care and agriculture.

    Meeting with Olivier Nduhungirehe, Wang Yi stressed that the leaders of China and Rwanda have jointly elevated China-Rwanda relations to a comprehensive strategic partnership and provided strong strategic guidance for the development of bilateral ties. Wang Yi noted that China is willing to deepen exchanges and mutual learning with Rwanda in public administration, and strengthen practical cooperation in various fields.

    The Rwandan Foreign Minister, for his part, stated that Rwanda expects to implement the results of the Beijing summit of the FCAS, especially the ten partnership action programs for the joint promotion of modernization, in order to jointly move towards independent and self-sufficient modernization.

    During the meeting with Abdisalam Abdi Ali, Wang Yi said that during the FCAS summit in Beijing, the leaders of China and Somalia elevated bilateral relations to a strategic partnership. He noted that China is willing to work with Somalia to implement the outcomes of the summit, bring more tangible benefits to the Somali people, and help the country restore peace and stability, as well as accelerate the process of reconstruction and development.

    The Somali Foreign Minister, for his part, thanked China for its strong support during the most difficult times for his country. He stressed that China holds a particularly important place in the hearts of Somalis and that Somalia highly values and expects to actively participate in a number of global initiatives put forward by China.

    At the meeting with Maria Manuela dos Santos, Lucas Wang Yi said that China is willing to deepen the China-Mozambique comprehensive strategic partnership of cooperation and is willing to help Mozambique accelerate its industrialization and modernization. The Chinese diplomat highly appreciates Mozambique’s firm commitment to the one-China principle.

    The Mozambican Foreign Minister, for her part, said that her country is sincerely grateful to China for its new measures to support Africa’s development, as well as its countermeasures to counter the introduction of additional unilateral customs duties.

    During the conversation with Robert Dusset, Wang Yi congratulated Togo on its smooth transition to a new political system and expressed support for Togo in actively seeking a governance path that suits its national conditions. The Chinese Foreign Minister added that China will continue to support Togo in safeguarding its independence, sovereignty and national dignity.

    R. Dusset, for his part, said that a number of global initiatives put forward by China are imbued with the spirit of unity and cooperation and have made a decisive contribution to promoting stability and prosperity in the world. –0–

    MIL OSI Russia News –

  • MIL-OSI: UPDATE – Nika Pharmaceuticals, Inc. to Present at the Life Sciences Virtual Investor Forum June 11th-12th

    Source: GlobeNewswire (MIL-OSI)

    HENDERSON, Nev., June 12, 2025 (GLOBE NEWSWIRE) — Nika Pharmaceuticals, Inc. (OTCQB:NIKA), based in Colorado, focused on cures for life-threatening diseases, today announced that Dimitar Savov, CEO, will present live at the Life Sciences Virtual Investor Frum hosted by VirtualInvestorConferences.com, on June 11th, 2025

    DATE: June 11th
    TIME: 1:00 PM ET
    LINK: REGISTER HERE
    Available for 1×1 meetings: June 12th-17th between 09:00am ET and 11:30am ET

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.  

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent Company Highlights

    • On May 19, 2025, NIKA published a market analysis for the countries of Ukraine, Syria, Jordan, Iraq, UAE, where NIKA has exclusive distribution agreements and has estimated a total of around €656 million in potential revenue.
    • NIKA’s partner company, Nika Europe, has made the second $195,554 payment for the vial production line and is currently finalizing the details of the clean rooms design in order to start construction. The production facility is expected to be completed in H2, 2025.
    • On April 11, 2025, Nika Pharmaceuticals, Inc. published a report on the therapeutic effect and potential economic impact of ITV-1, which can be found  here.
    • On July 11, 2024 Nika Pharmaceuticals, Inc. signed an exclusive distribution agreement for the Republic of Nigeria. Under the terms, NIKA will receive €1,980 per each set of ITV-1 with two sets necessary for each treatment, which could result in €7.9 billion revenue.

    About Nika Pharmaceuticals, Inc.

    Nika Pharmaceuticals, Inc. (NIKA) is a pharmaceutical company, specializing in the treatment of HIV/AIDS, Hepatitis B and C, Rheumatoid Arthritis, Cancer, Diabetes, and all diseases, for which strengthened cell immunity is of vital importance. NIKA’s intellectual property includes six drugs in injection form – two of which have successfully undergone clinical trials with good treatment results – four drugs in tablet form, and eleven dietary supplements. NIKA’s goal is to not only achieve corporate profits, but to provide better and easier access to life-saving medicinal drugs and useful dietary supplements. Find more on www.nikapharmaceuticals.com.

    Forward-looking Statement:

    This press release contains forward-looking statements. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward- looking statements.” These forward-looking statements generally are identified by the words “believes,” “expects,” “anticipates,”” estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain.

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access.  Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    CONTACTS:
    Nika Pharmaceuticals, Inc.
    Name Clifford P. Redekop
    Title Corporate Secretary
    Phone (702) 326-3615        
    Email cliffredekop@gmail.com 

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com 

    The MIL Network –

  • MIL-OSI Economics: Thales invests €55 million euros to anchor next-generation resilient navigation in France

    Source: Thales Group

    Headline: Thales invests €55 million euros to anchor next-generation resilient navigation in France

    • Thales strengthens its European leadership in resilient navigation, for air, land and sea, by enhancing its Châtellerault and Valence industrial sites in France.
    • The Group will invest €55 million in order to meet growing demand for secure navigation solutions for both the civil and military sectors.
    • This industrial ramp-up will quadruple the production capacity of the Châtellerault site, while in Valence, the serial production of TopStar-M GNSS receivers and the TopShield anti-jamming solution will be launched, and a new sovereign production line for inertial micro-electromechanical systems (MEMS) will be established.

    Thales, the European leader in resilient navigation, today announces a major €55 million investment to strengthen its industrial sites in Châtellerault and Valence, France. This investment, which will be made between 2025 and 2028, will meet the growing demand for high-performance navigation solutions, both civilian and military, and will strengthen its sovereign and cutting-edge industrial base.

    A comprehensive range of solutions for resilient navigation

    In a context of increasing jamming and spoofing of GNSS (Global Navigation Satellite System) signals, Thales is deploying a complete range of resilient navigation solutions that combine precision, autonomy, and security. These technologies are essential to ensure operational continuity, whether for critical military missions or civil aviation safety.

    By integrating two technological pillars combining inertial systems and GNSS signal reception, Thales enables reliable navigation even in contested environments. Autonomous navigation capability is maintained at all times due to the high performance of the TopAxyz inertial navigation systems. Signal reception integrity is ensured by combining the encrypted, multi-constellation TopStar-M receiver with the TopShield anti-jamming solution. These innovations are supported by France’s Directorate General of Armaments (DGA) under the OMEGA (Operation for the Modernization of GNSS Equipment of the Armed Forces) programme. The performance and unique combination of these solutions make Thales the European leader in resilient navigation.

    A strengthened, sustainable, and sovereign industrial base

    At Châtellerault, the production capacity of inertial navigation systems will be increased fourfold, with a gradual ramp-up through 2028. This site, with sixty years of expertise in laser gyroscopes, and as the only European supplier equipping civil aircraft, will thus be able to meet growing demand and to provide solutions for aircraft, land vehicles, ships, and munitions.

    In Valence, mass production of TopStar-M receivers and TopShield systems will begin in 2026. A new production line dedicated to inertial MEMS sensors—a breakthrough technology combining compactness and high performance—will be created, establishing the site as the spearhead of France’s sovereign MEMS technology sector for defense. The launch of this new production line will be accelerated with the support of Tronics Microsystems for certain industrial expertise.

    A strong human and regional commitment

    More than 800 employees are currently working at the two sites, and 150 new hires are planned by 2028. These investments strengthen Thales’ regional footprint and actively contribute to positioning France at the forefront of the navigation industry.

    “Thales, a leader in resilient navigation, is reinforcing its industrial base in France, and thanks to this investment, it will have a sovereign and sustainable industrial capability, delivering the most advanced and competitive solutions to meet growing needs across both civil and military customers” said Yannick Assouad, Executive Vice-President, Avionics, Thales.

    MIL OSI Economics –