Category: Russian Federation

  • MIL-OSI China: Trump says US to lift Syria sanctions, inks arms deal with Saudi Arabia

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

    U.S. President Donald Trump on Tuesday secured a 600-billion-U.S. dollar investment commitment from Saudi Arabia in Riyadh and vowed to lift sanctions on Syria.

    Saudi Crown Prince and Prime Minister Mohammed bin Salman Al Saud (R) meets with visiting U.S. President Donald Trump in Riyadh, Saudi Arabia, on May 13, 2025. (Saudi Press Agency/Handout via Xinhua)

    According to a White House statement, the investment commitment involves agreements spanning various sectors, including “energy security, defense industry, technology leadership, and access to global infrastructure and critical minerals.”

    Among the deals was “the largest defense sales agreement in history — nearly 142 billion dollars,” the statement said.

    As part of the defense agreement, the United States will provide Saudi Arabia with “state-of-the-art warfighting equipment and services from over a dozen U.S. defense firms.”

    “This deal represents a significant investment in Saudi Arabia’s defense and regional security, built on American systems and training,” the statement added.

    Speaking later at an investment forum, the U.S. president announced that he would lift sanctions on Syria.

    “I will be ordering the cessation of sanctions against Syria in order to give them a chance,” Trump said, noting that the United States had taken the first steps toward normalizing relations with Damascus.

    While praising ties with Saudi Arabia, Trump expressed hope that the kingdom would join the Abraham Accords.

    The Abraham Accords, brokered by the United States during Trump’s first term in office, aimed to normalize relations between Israel and Arab nations.

    U.S. efforts to promote normalization between Israel and Arab countries stalled amid Washington’s support for Israel’s military offensive in Gaza, which has killed more than 52,900 Palestinians since October 2023 and drawn widespread regional criticism.

    On potential peace talks between Russia and Ukraine, Trump said Secretary of State Marco Rubio would travel to Türkiye later this week to join the negotiations.

    Trump is on a four-day trip to the Middle East from Tuesday to Friday, his first major foreign visit since taking office in January. Saudi Arabia is the first stop of his tour, which will also include Qatar and the United Arab Emirates.

    MIL OSI China News

  • MIL-Evening Report: In Indonesia, Albanese has a chance to reset a relationship held back by anxiety and misperceptions

    Source: The Conversation (Au and NZ) – By Hangga Fathana, Assistant Professor of International Relations, Universitas Islam Indonesia (UII) Yogyakarta

    Prime Minister Anthony Albanese has wasted little time taking his first overseas trip since Labor won a historic victory in Australia’s federal election. He’ll head to Indonesia today to meet the country’s new president, Prabowo Subianto.

    With both nations entering new political chapters, the visit carries symbolic weight. But it will also have practical importance.

    Despite the two nations’ proximity and strengths, the relationship has often been held back by outdated perceptions and strategic hesitation. This is a timely opportunity to reset the relationship.

    Prabowo’s emerging foreign policy

    Prabowo succeeded outgoing President Joko “Jokowi” Widodo in October after a decade of his infrastructure-driven and globally engaged leadership.

    Prabowo, a former army general and defence minister, had projected a populist and nationalist image during his 2024 election campaign. He frequently emphasised Indonesia’s food self-sufficiency, military strength and national sovereignty.

    Since taking office, however, he has moderated his tone. While seen by some in the West as assertive, he has signalled a willingness to strengthen bilateral defence ties with Australia. He also has an interest in modernising Indonesia’s military and engaging more transparently with partners.

    Still, questions remain about how he will shape Indonesia’s foreign policy. This includes whether he will maintain Jokowi’s emphasis on multilateralism and economic diplomacy. Both are key to the tone and outcomes of Albanese’s visit.

    Prabowo’s leadership style is nuanced. Despite his polarising image, Indonesia’s foreign policy is still shaped by pragmatism and non-alignment. As such, Prabowo will likely focus on balancing relations with China, the United States and Russia, while protecting Indonesia’s sovereignty.

    Indonesia’s decision to join BRICS, the economic group that includes both China and Russia, for example, should be seen as a diplomatic hedge, not a new geopolitical alignment.

    Other recent decisions, such as providing aid to Fiji, suggest an increasingly outward-facing regional posture.

    Albanese should offer Prabowo credible alternatives to Russian and Chinese engagement through trade, technology and education exchanges, rather than reacting to Jakarta’s moves with suspicion.

    Opportunities for cooperation

    In his election campaign, Albanese reaffirmed his government’s commitment to working closely with Southeast Asia. He also promised a foreign policy grounded in diplomacy, climate cooperation and economic diversification.

    This provides a strong incentive for both leaders to deepen ties. For Australia, deepening ties with Indonesia supports its Indo-Pacific strategy. The goal: promoting a stable and inclusive regional order, particularly amid concerns over growing strategic competition between the US and China.

    For Indonesia, Australia offers investment, education partnerships, and critical expertise in clean energy and innovation.

    A free-trade agreement signed in 2019 provides a platform for deeper integration and less competition in certain industries.

    For example, there are huge opportunities to collaborate in clean energy, particularly after the neighbours signed a climate partnership last year. The agreement will secure supplies of lithium for Indonesia’s EV battery production, while Australia will gain more export markets for its critical minerals.

    People-to-people ties are also vital, while education remains a longstanding pillar of the bilateral relationship.

    Both countries face skills shortages in key sectors. Indonesia needs skilled workers in health care, clean technology and digital literacy. Australia has shortages in critical infrastructure, aged care and engineering.

    There are good opportunities here for student exchanges, joint employment training programs and other vocational collaborations.

    New Australian university campuses in Indonesia are a positive step, but they remain commercially focused and concentrated in elite, urban areas. With over 4,000 universities across the archipelago, these partnerships could go much further.

    Where tensions might arise

    The relationship is not without friction. Australia’s involvement in the AUKUS agreement, and its close alignment with the United States and United Kingdom, has raised concerns for Indonesia, which has long championed non-alignment.

    Jakarta has voiced unease over the perceived risks of nuclear submarine proliferation in the region.

    Albanese’s visit is a key opportunity to clarify that AUKUS involves nuclear-powered — not nuclear-armed — submarines. He should also reinforce Australia’s commitment to transparency over the deal. This is essential to avoiding misunderstandings and building trust.

    A more recent flashpoint is speculation around a possible Russian military presence in Indonesia — a claim the Indonesian government has firmly denied.

    Indonesia’s response exemplifies its longstanding commitment to strategic autonomy. However, the whole ordeal reveals the complexity of Jakarta’s foreign relations, which often involve balancing ties with competing powers.

    For Australia, acknowledging Indonesia’s independent foreign policy — rather than interpreting it through a great-power rivalry lens — is critical to sustaining mutual trust.

    A chance to re-anchor the relationship

    This moment offers both governments the chance to move beyond symbolic gestures toward a deeper, more inclusive and people-centred partnership.

    Amid global fragmentation, trust is not just desirable — it’s essential. And while differences remain, they are not insurmountable when guided by mutual respect, strategic patience and a commitment to genuine cooperation.

    For Australia, the challenge is to move past strategic anxiety and invest in a resilient, multidimensional relationship with Indonesia. This visit could be the first step in doing just that.

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

    ref. In Indonesia, Albanese has a chance to reset a relationship held back by anxiety and misperceptions – https://theconversation.com/in-indonesia-albanese-has-a-chance-to-reset-a-relationship-held-back-by-anxiety-and-misperceptions-256321

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Freehold Royalties Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, May 13, 2025 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces first quarter results for the period ended March 31, 2025.

    First Quarter 2025 Highlights

    • $91 million in revenue;
    • $68 million in funds from operations ($0.42/share) (1)(3);
    • $44 million in dividends paid ($0.27/share)(2);
    • 10,635 bbls/d of total liquids production, an 8% increase from previous quarter driven by continued execution of our U.S. expansion strategy and heavy oil growth in Canada;
    • 16,248 boe/d of total production, a 6% increase from previous quarter with a 65% weighting to oil and natural gas liquids (NGLs), an increase from 63% in Q1-2024;
    • Gross drilling of 322 wells, up 12% from Q4-2024;
    • Robust leasing with 25 new leases signed (14 in Canada; 11 in the U.S.) contributing $3.9 million in revenue with the U.S. contributing a record $3.3 million in lease bonus; and
    • $59.29/boe average realized price ($72.64/boe in the U.S. and $49.26/boe in Canada);
      • 47% pricing premium on Freehold’s U.S. production reflecting higher liquids weighting, higher quality crude oil and reduced transportation costs to get product to market.

    President’s Message

    Freehold’s Q1-2025 production of 16,248 boe/d is at the highest levels in our corporate history, in step with the high quality acquisition work completed in late 2024. The deliberate and strategic build out of our North American royalty portfolio has resulted in a balanced revenue base with Canada contributing 46% of revenue in Q1-2025 and the U.S. contributing 54%. On a volume basis the U.S. represented 43% of our production with premium pricing and higher liquids weighting driving an outsized revenue contribution. Our focus on acquiring mineral title interests in prospect rich basins has contributed to the record level of leasing this quarter in our core U.S. operating areas.

    Freehold’s oil weighted portfolio, underpinned by premium operators in select basins across North America, delivered significant value to the Company and our shareholders with $68 million of funds from operations(3) in the quarter, or $0.42/share. Included in our funds from operations was record leasing results with $3.9 million in revenue, including $3.3 million in U.S. leasing revenue. Notably, the majority of the U.S. leases signed in Q1-2025 are targeting the deeper Barnett formation of the Permian basin that is in the early stages of development.

    Liquids production increased 8% over Q4-2024 and 15% compared to Q1-2024. The increase is largely attributed to the December 2024 Midland basin acquisition and continued growth in our heavy oil portfolio which grew 7% over Q4-2024 and is up 19% compared to Q1-2024. Our U.S. portfolio continues to be led by consistent drilling activity by some of the highest quality payors in North America who are executing on their multi-year growth plans.

    We are maintaining our production guidance range of 15,800 boe/d to 17,000 boe/d for 2025E. The global macro environment has shifted since the end of the first quarter and how that may impact operator plans for the remainder of 2025 is unknown at this point. The industry is in excellent shape to manage commodity price volatility due to the capital discipline and prudent balance sheet management approach over the past number of years. Contributing to this is our positioning in the lowest break-even plays across North America under investment grade operators who take a long term, measured view to capital planning.

    David M. Spyker, President and Chief Executive Officer

    Dividend Announcement

    The board of directors of Freehold has declared a monthly dividend of $0.09 per share to be paid on June 16, 2025, to shareholders of record on May 30, 2025. The dividend is designated as an eligible dividend for Canadian income tax purposes.

    Operating and Financial Highlights

          Three Months Ended
    FINANCIAL ($ millions, except as noted) Q1-2025 Q4-2024 Q1-2024
    West Texas Intermediate (US$/bbl) 71.42   70.27   76.96  
    AECO 7A Monthly Index (Cdn$/Mcf) 2.02   1.46   2.07  
    Royalty and other revenue 91.1   76.9   74.3  
    Funds from operations (3) 68.1   61.3   54.4  
    Funds from operations per share, basic ($) (1)(3) 0.42   0.40   0.36  
    Dividends paid per share ($) (2) 0.27   0.27   0.27  
    Dividend payout ratio (%) (3) 65 % 66 % 75 %
    Long-term debt 294.3   300.9   223.6  
    Net debt (5)(6) 272.2   282.3   210.5  
    Net debt to trailing funds from operations (times) (5) 1.1x
      1.2x   0.9x  
    OPERATING        
    Total production (boe/d) (4) 16,248   15,306   14,714  
    Canadian production (boe/d)(4) 9,278   9,437   9,593  
    U.S. production (boe/d)(4) 6,970   5,869   5,121  
    Oil and NGL (%) 65 % 65 % 63 %
    Petroleum and natural gas realized price ($/boe) (4) 59.29   53.80   54.81  
    Cash costs ($/boe) (3)(4) 7.00   5.93   7.19  
    Netback ($/boe) (3) (4) 53.01   47.25   46.62  
    ROYALTY INTEREST DRILLING (gross / net)        
    Canada 92 / 3.9
      110 / 3.6   132 / 5.9  
    U.S. 230 / 0.8
      178 / 0.6   168 / 0.5  

    (1) Calculated based on the basic weighted average number of shares outstanding during the period
    (2) Based on the number of shares issued and outstanding at each record date
    (3) See Non-GAAP and Other Financial Measures
    (4) See Conversion of Natural Gas to Barrels of Oil Equivalent (boe)
    (5) Net debt and net debt to trailing funds from operations are capital management measures

    First Quarter Summary

    • Average production of 16,248 boe/d, an increase of 10% over the first quarter of 2024 with year-over-year liquids growth of 15% to 10,635 bbls/d:
      • Light and medium oil was up 13% over Q1-2024 to 6,880 bbls/d, largely due to the high quality, oil weighted U.S. acquisitions completed in 2024; and
      • Heavy oil was up 19% over Q1-2024 to 1,552 bbls/d as Mannville Stack and Clearwater production on Freehold’s lands hit record highs in the first quarter.
    • Royalty and other revenue totalled $91.1 million, up 18% over the prior quarter and 23% year-over-year. Other revenue included $3.9 million in lease bonus consideration and lease rental revenue, a quarterly record for Freehold.
    • Freehold’s corporate realized price was $59.29/boe, an increase of 9% compared to Q4-2024 and 8% from Q1-2024 due to higher commodity prices and higher weighting to liquids production.
    • Funds from operations totalled $68.1 million ($0.42 per share)(1).
    • Freehold closed $13.8 million of land purchases in the first quarter, including $11 million of high quality undeveloped mineral title lands in our core Midland and Delaware basin properties.
    • Dividends declared for Q1-2025 of $44.3 million ($0.27 per share). Freehold’s dividend payout ratio(1) was 65% for Q1-2025. Freehold’s dividend remains sustainable at oil and natural gas prices well below current commodity price levels.
    • Net debt(1)(2) of $272.2 million at the end of Q1-2025 was reduced by $10.1 million compared to year end 2024, representing 1.1 times trailing funds from operations(2) during the period. Freehold remains conservatively levered.

    (1) See Non-GAAP and Other Financial Measures
    (2) Net debt and net debt to trailing funds from operations are capital management measures

    Q1-2025 Drilling and Leasing Activity

    In total, 322 gross wells (4.7 net wells) were drilled on Freehold’s royalty lands in Q1-2025, a 12% increase (12% on a net basis) compared to the previous quarter. The increase in drilling reflects the expansion of the Company’s U.S. asset base and the positioning of our assets in areas across North America that continue to attract drilling capital.

    On a gross basis, essentially all drilling was oil focused. Approximately 29% of gross wells drilled in Q1-2025 were in Canada and 71% targeted Freehold’s U.S. royalty acreage.

      Three Months Ended
      Q1-2025 Q4-2024 Q1-2024
      Gross Net (1) Gross Net (1) Gross Net (1)
    Canada 92 3.9 110 3.6 132 5.9
    United States 230 0.8 178 0.6 168 0.5
    Total 322 4.7 288 4.2 300 6.4

    (1)  Equivalent net wells are aggregate of the numbers obtained by multiplying each gross well by our royalty interest percentage; U.S. wells on Freehold’s lands generally come on production at approximately 10 times the volume that of an average Canadian well in our portfolio.

    Canada

    Canadian net drilling was up over the previous quarter despite the decline on a gross basis as higher interest wells in the Viking and mineral title drilling in southeast Saskatchewan and the Mannville Stack made up a higher percentage. Q1-2025 drilling in Canada was led again by oil weighted plays including Viking (33 gross wells), southeast Saskatchewan (12 gross wells) and Mannville Stack (9 gross wells).

    During Q1-2025, Freehold entered into 14 new leases with seven counterparties totalling approximately $0.6 million in bonus and lease rental revenue. The majority of the new leasing was focused in southeast Saskatchewan and the Mannville Stack.

    U.S.

    During Q1-2025, 230 gross (0.8 net) wells were drilled on our U.S. lands, up 29% on a gross basis and 33% on a net basis from previous quarter due to a larger footprint in the Midland basin following the December 2024 acquisition and increased activity in the Eagle Ford basin. Approximately 90% of Q1-2025 drilling was focused in the Permian basin and 10% in the Eagle Ford basin.

    U.S. wells typically come on production at approximately ten times that of an average Canadian well in the Company’s portfolio, making equivalent net well additions much more valuable in the U.S. compared to Canada. However, a U.S. well can take upwards of six to twelve months on average from initial license to first production, compared to three to four months in Canada.

    In Q1-2025, Freehold entered into 11 new U.S. leases with four counterparties, totalling $3.3 million of bonus and lease rental revenue. Leasing activity was predominantly focused on Freehold’s mineral title interests in the Midland and Delaware basins with one lease in the Haynesville basin.

    Normal Course Issuer Bid (NCIB) Application

    The Company plans to implement an NCIB, pursuant to which Freehold would be permitted to acquire up to 10% of its issued and outstanding common shares that comprise the public float (less common shares held by directors, executive officers and principal securityholders (holders holding greater than 10% of the issued and outstanding Shares) of the Company), through the facilities, rules and regulations of the TSX.

    The NCIB will be subject to receipt of certain approvals, including acceptance of the notice of intention to commence an NCIB by the TSX. The NCIB will commence following receipt of all such approvals and will continue until the earlier of: (i) a period of up to one-year; or (ii) the date on which the Company has acquired all common shares sought pursuant to the NCIB. Further particulars of the NCIB will be described in a subsequent press release when approved by the TSX.

    Freehold believes establishing a NCIB as part of its capital management strategy is in the best interests of the Company and provides an opportunity to deliver value to shareholders. Decisions regarding utilizing the NCIB will be based on market conditions, share price, best use of funds from operations and other factors including debt repayment and options to expand our portfolio of royalty assets.

    Annual Meeting of Shareholders

    Freehold’s annual meeting of shareholders (the AGM) will be conducted in person and via live audio webcast at 3:00 PM (MDT) on Wednesday May 14, 2025 at the Calgary Petroleum Club. Further details are available on our website at https://freeholdroyalties.com/investors/events-and-presentations.

    Conference Call Details

    A webcast to discuss financial and operational results for the period ended March 31, 2025, will be held for the investment community on Wednesday May 14, 2025, beginning at 7:00 AM MT (9:00 AM ET).

    A live audio webcast will be accessible through the link below and on Freehold’s website under “Events & Presentations” on Freehold’s website at www.freeholdroyalties.com. To participate in the conference call, you can register using the following link: Live Audio Webcast URL: https://edge.media-server.com/mmc/p/6y39yhx4.

    A dial-in option is also available and can be accessed by dialing 1-800-952-5114 (toll-free in North America) participant passcode is 5153824#.

    For further information contact

    Freehold Royalties Ltd.
    Todd McBride, CPA, CMA                     
    Investor Relations                                 
    t. 403.221.0833                                      
    e. tmcbride@freeholdroyalties.com    
     Nick Thomson, CFA
    Investor Relations & Capital Markets
    t. 403.221.0874                                          
    e. nthomson@freeholdroyalties.com
    Select Quarterly Information
      2025   2024 2023  
    Financial ($millions, except as noted) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2
    Royalty and other revenue 91.1   76.9   73.9   84.5   74.3   80.1   84.2   73.7  
    Net Income (loss) 37.3   51.1   25.0   39.3   34.0   34.3   42.3   24.3  
    Per share, basic ($) (1) 0.23   0.33   0.17   0.26   0.23   0.23   0.28   0.16  
    Cash flows from operations 62.9   59.1   64.1   47.6   52.5   70.7   53.7   49.9  
    Funds from operations 68.1   61.3   55.7   59.6   54.4   62.8   65.3   53.0  
    Per share, basic ($) (1)(3) 0.42   0.40   0.37   0.40   0.36   0.42   0.43   0.35  
    Acquisitions & related expenditures 13.9   277.0   1.8   11.5   121.5   2.1   1.2   3.2  
    Dividends paid 44.3   40.7   40.7   40.7   40.7   40.7   40.7   40.7  
    Per share ($) (2) 0.27   0.27   0.27   0.27   0.27   0.27   0.27   0.27  
    Dividends declared 44.3   41.9   40.7   40.7   40.7   40.7   40.7   40.7  
    Per share ($) (2) 0.27   0.27   0.27   0.27   0.27   0.27   0.27   0.27  
    Dividend payout ratio (%) (3) 65 % 66 % 73 % 68 % 75 % 65 % 62 % 77 %
    Long-term debt 294.3   300.9   205.8   228.0   223.6   123.0   141.2   152.0  
    Net debt (5) 272.2   282.3   187.1   199.1   210.5   100.9   113.4   136.9  
    Shares outstanding, period end (000s) 164.0   164.0   150.7   150.7   150.7   150.7   150.7   150.7  
    Average shares outstanding, basic (000s) (6) 164.0   153.4   150.7   150.7   150.7   150.7   150.7   150.7  
    Operating                
    Light and medium oil (bbl/d) 6,880   6,296   6,080   6,551   6,094   6,308   6,325   6,093  
    Heavy oil (bbl/d) 1,552   1,516   1,315   1,348   1,300   1,182   1,127   1,167  
    NGL (bbl/d) 2,203   2,066   1,972   1,902   1,884   1,878   1,678   1,845  
    Total liquids (bbl/d) 10,635   9,878   9,367   9,801   9,278   9,368   9,130   9,105  
    Natural gas (Mcf/d) 33,678   32,564   31,447   32,524   32,617   32,968   32,851   33,372  
    Total production (boe/d) (4) 16,248   15,306   14,608   15,221   14,714   14,863   14,605   14,667  
    Oil and NGL (%) 65 % 65 % 64 % 64 % 63 % 63 % 63 % 62 %
    Petroleum & natural gas realized price ($/boe) (4) 59.29   53.80   54.36   59.74   54.81   57.94   61.55   54.05  
    Cash costs ($/boe) (3)(4) 7.00   5.93   5.42   9.80   7.19   4.73   5.10   7.19  
    Netback ($/boe) (3)(4) 53.01   47.25   47.78   49.44   46.62   52.59   55.63   46.07  
    Benchmark Prices                
    West Texas Intermediate crude oil (US$/bbl) 71.42   70.27   75.09   80.57   76.96   78.32   82.26   73.78  
    Exchange rate (Cdn$/US$) 1.43   1.40   1.37   1.37   1.35   1.36   1.34   1.34  
    Edmonton Light Sweet crude oil (Cdn$/bbl) 95.32   94.90   97.85   105.29   92.14   99.69   107.89   94.97  
    Western Canadian Select crude oil (Cdn$/bbl) 84.30   80.75   83.95   91.63   77.77   76.96   93.05   78.76  
    Nymex natural gas (US$/Mcf) 3.79   2.86   2.24   1.96   2.33   2.98   2.64   2.17  
    AECO 7A Monthly Index (Cdn$/Mcf) 2.02   1.46   0.81   1.44   2.07   2.70   2.42   2.40  

    (1) Calculated based on the basic weighted average number of shares outstanding during the period
    (2) Based on the number of shares issued and outstanding at each record date
    (3) See Non-GAAP and Other Financial Measures
    (4) See Conversion of Natural Gas to Barrels of Oil Equivalent (boe)
    (5) The 2023 reported balances have been restated due to the retrospective adoption of IAS 1 (see note 3d of December 31, 2024 audited consolidated financial statements)
    (6) Weighted average number of shares outstanding during the period, basic

    Forward-Looking Statements

    This news release offers our assessment of Freehold’s future plans and operations as of March 12, 2025, and contains forward-looking statements that we believe allow readers to better understand our business and prospects. These forward-looking statements include our expectations for the following:

    • 2025 production guidance;
    • our expectation regarding continued growth of our total liquid production through continued execution of our U.S. expansion strategy and heavy oil growth in Canada;
    • our expectation that our U.S. portfolio will continue to be led by consistent drilling activity by the highest quality payors in North America who are executing on their multi-year growth plans;
    • our expectation that the industry is in excellent shape to manage commodity price volatility due to the capital discipline and prudent balance sheet management approach over the past number of years;
    • our expectation that while some growth directed capital may be pared down, there will not be a slow down in core activity on our lands;
    • our expectation Freehold’s dividend remains sustainable at oil and natural gas prices materially below current commodity price levels;
    • our expectation that the positioning of our assets in areas across North America will continue to attract drilling capital despite volatility in commodity prices;
    • our expectation that U.S. wells typically come on production at approximately ten times that of an average Canadian well in the Company’s portfolio, making net well additions much more valuable in the U.S. compared to Canada;
    • our expectations that a U.S. well can take upwards of six to twelve months on average from initial license to first production, compared to three to four months in Canada;
    • our expectations that we will apply for an commence a NCIB once approval is granted; and
    • other similar statements.

    By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond our control, including general economic conditions, volatility in market prices for crude oil, NGL and natural gas, risks and impacts of tariffs (or other retaliatory trade measures) imposed by Canada or the U.S. (or other countries) on exports and/or imports into and out of such countries, inflation and supply chain issues, the impacts of the ongoing Israeli-Hamas-Hezbollah and potentially the broader Middle-East region, and Russia-Ukraine wars and any associated sanctions as well as OPEC+ curtailments on the global economy and commodity prices, geopolitical instability, political instability, industry conditions, volatility of commodity prices, future production levels, future capital expenditure levels, currency fluctuations, imprecision of reserve estimates, royalties, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, inaccurate assumptions on supply and demand factors affecting the consumption of crude oil, NGLs and natural gas, inaccurate expectations for industry drilling levels on our royalty lands, the failure to complete acquisitions on the timing and terms expected, the failure to satisfy conditions of closing for any acquisitions, the lack of availability of qualified personnel or management, stock market volatility, our inability to come to agreement with third parties on prospective opportunities and the results of any such agreement and our ability to access sufficient capital from internal and external sources. Risks are described in more detail in our Annual Information Form for the year-ended December 31, 2024, available at www.sedarplus.ca.

    With respect to forward-looking statements contained in this news release, we have made assumptions regarding, among other things, future commodity prices, future capital expenditure levels, future production levels, future exchange rates, future tax rates, future legislation, the cost of developing and producing our assets, the quality of our counterparties and the plans thereof, our ability and the ability of our lessees to obtain equipment in a timely manner to carry out development activities, our ability to market our oil and gas successfully to current and new customers, the performance of current wells and future wells drilled by our royalty payors, our expectation for the consumption of crude oil and natural gas, our expectation for industry drilling levels, our expectation for completion of wells drilled, our ability to obtain financing on acceptable terms, shut-in production, production additions from our audit function, our ability to execute on prospective opportunities and our ability to add production and reserves through development and acquisition activities. Additional operating assumptions with respect to the forward-looking statements referred to above are detailed in the body of this news release.

    You are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Our actual results, performance, or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. We can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits we will derive from them. The forward-looking information contained in this document is expressly qualified by this cautionary statement. To the extent any guidance or forward-looking statements herein constitute a financial outlook, they are included herein to provide readers with an understanding of management’s plans and assumptions for budgeting purposes and readers are cautioned that the information may not be appropriate for other purposes. Our policy for updating forward-looking statements is to update our key operating assumptions quarterly and, except as required by law, we do not undertake to update any other forward-looking statements.

    You are further cautioned that the preparation of financial statements in accordance with International Financial Reporting Standards (IFRS), which are the Canadian generally accepted accounting principles (GAAP) for publicly accountable enterprises, requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues, and expenses. These estimates may change, having either a positive or negative effect on net income, as further information becomes available and as the economic environment changes.

    To the extent any guidance or forward-looking statements herein constitutes a financial outlook, they are included herein to provide readers with an understanding of management’s plans and assumptions for budgeting purposes and readers are cautioned that the information may not be appropriate for other purposes. You are further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues, and expenses. These estimates may change, having either a positive or negative effect on net income, as further information becomes available and as the economic environment changes.

    Conversion of Natural Gas to Barrels of Oil Equivalent (BOE)
    To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (boe). We use the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 boe ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices. While the boe ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation. As well, given that the value ratio, based on the current price of crude oil to natural gas, is significantly different from the 6:1 energy equivalency ratio, using a 6:1 conversion ratio may be misleading as an indication of value.

    Non-GAAP and Other Financial Measures
    Within this news release, references are made to terms commonly used as key performance indicators in the oil and gas industry, which do not have any standardized means prescribed by Canadian generally accepted accounting principles (GAAP). We believe that net revenue, netback, dividend payout ratio, funds from operations per share and cash costs are useful non-GAAP financial measures and ratios for management and investors to analyze operating performance, financial leverage, and liquidity, and we use these terms to facilitate the understanding and comparability of our results of operations. However, these as terms do not have any standardized meanings prescribed by GAAP, such terms may not be comparable with the calculations of similar measures for other entities. This news release also contains the capital management measures net debt and net debt to trailing funds from operations, as defined in note 14 to the unaudited consolidated financial statements as at and for the three months ended March 31, 2025.

    Net revenue, which is calculated as revenues less ad valorem and production taxes (as incurred in the U.S. at the state level, largely Texas, which do not charge corporate income taxes but do assess flat tax rates on commodity revenues in addition to property tax assessments) details the net amount Freehold receives from its royalty payors, largely after state withholdings.

    The netback, which is also calculated on a boe basis, as average realized price less production and ad valorem taxes, operating expenses, general and administrative expense, cash-based management fees, cash-based interest charges and share-based payouts, represents the per boe netback amount which allows us to benchmark how changes in commodity pricing, net of production and ad valorem taxes, and our cash-based cost structure compare against prior periods.

    Cash costs, which is calculated on a boe basis, is comprised by the recurring cash-based costs, excluding taxes, reported on the statements of operations. For Freehold, cash costs are identified as operating expense, general and administrative expense, cash-based interest charges, cash-based management fees and share-based compensation payouts. Cash costs allow Freehold to benchmark how changes in its manageable cash-based cost structure compare against prior periods.

    The following table presents the computation of Net Revenue, Cash costs and the Netback:

    $/boe Q1-2025 Q4-2024 Q1-2024
    Royalty and other revenue   62.29     54.59     55.47  
    Production and ad valorem taxes   (2.28)     (1.41)     (1.66)  
    Net revenue $60.01   $53.18   $53.81  
    Less:      
    General and administrative expense   (3.41)     (3.02)     (3.58)  
    Operating expense   (0.13)     (0.19)     (0.15)  
    Interest and financing cash expense   (3.31)     (2.67)     (2.79)  
    Management fee-cash settled   (0.05)     (0.05)     (0.06)  
    Cash payout on share-based compensation   (0.10)         (0.61)  
    Cash costs   (7.00)     (5.93)     (7.19)  
    Netback $53.01   $47.25   $46.62  

    Dividend payout ratios are often used for dividend paying companies in the oil and gas industry to identify dividend levels in relation to funds from operations that are also used to finance debt repayments and/or acquisition opportunities. Dividend payout ratio is a supplementary measure and is calculated as dividends paid as a percentage of funds from operations.

           
    ($000s, except as noted) Q1-2025 Q4-2024 Q1-2024
    Dividends paid $44,269   $40,687   $40,686  
    Funds from operations $68,050   $61,332   $54,362  
    Dividend payout ratio (%)   65%     66%     75%  

    Funds from operations per share, which is calculated as funds from operations divided by the weighted average shares outstanding during the period, provides direction if changes in commodity prices, cash costs, and/or acquisitions were accretive on a per share basis. Funds from operations per share is a supplementary measure.

    The MIL Network

  • MIL-OSI Russia: Armenian Prime Minister Meets with Head of European Commission Directorate-General for Neighbourhood Policy and Enlargement Negotiations

    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

    Yerevan, May 13 (Xinhua) — Prospects for expanding cooperation between Armenia and the European Union were discussed at a meeting in Yerevan on Tuesday between Armenian Prime Minister Nikol Pashinyan and Director-General of the European Commission’s Directorate-General for Neighborhood Policy and Enlargement Negotiations Gert Jan Koopman and members of his delegation, the press service of the head of the Armenian government reported.

    N. Pashinyan noted the importance of developing relations between Armenia and the EU, emphasizing Yerevan’s firm commitment to deepening and expanding comprehensive cooperation.

    In turn, G. Ya. Kupman highly appreciated the relations between the European Union and Armenia, emphasizing that the EU considers this country a reliable and trustworthy partner.

    The interlocutors discussed in detail the current stage of bilateral relations, as well as issues related to regional security and stability and the Armenian-Azerbaijani peace process. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Georgia’s foreign trade turnover in January-April 2025 increased by 15.3 percent.

    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

    Tbilisi, May 13 (Xinhua) — Georgia’s foreign trade turnover in January-April 2025 amounted to 7.7557 billion US dollars, which is 15.3 percent more than in 2024, the Statistics Department of Georgia reported on Tuesday.

    According to the agency, during the reporting period, exports amounted to $2.0144 billion (an increase of 14.2 percent), imports – $5.7413 billion (an increase of 15.7 percent).

    At the same time, the negative balance of trade in January-April 2025 amounted to 3.7269 billion dollars, or 48.1 percent of the total turnover. –0–

    MIL OSI Russia News

  • MIL-OSI Russia: Shortsighted ‘America First’ Policy Will Accelerate US Decline: Chinese Ambassador to Russia Zhang Hanhui

    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

    Moscow, May 13 /Xinhua/ — The U.S. administration’s short-sighted “America First” policy will not only fail to achieve its stated goal of “making America great again,” but will also lead the country into stagflation and accelerate its decline, Chinese Ambassador to Russia Zhang Hanhui said in an opinion piece published in the Russian newspaper Argumenty i Fakty on Tuesday.

    “The US economy has been exposed to stagflation risks for a long time, which has caused serious concern both domestically and in the international community,” the publication says.

    As Zhang Hanhui noted, stagflation in the United States is accompanied by high inflation, a deteriorating labor market, a decline in consumer activity, and a reduction in investment. The article emphasizes that the tariff war will further worsen the country’s economic downturn.

    A Chinese diplomat likens trade protectionism to a boomerang: the more aggressively it is used, the more negative consequences are felt. “Ultimately, the U.S. tariff policy will cause the greatest damage to the American economy itself,” he points out, adding that abrupt and ill-considered changes in government policy have seriously undermined economic expectations in the country.

    All this, according to the author of the article, causes concern and disorientation regarding the prospects of the American economy.

    Zhang Hanhui is confident that the “America First” policy will lead the United States to isolation. “Basically, tariffs are used as a tool to test the loyalty of other countries, acting through a system of threats and punishments. However, as practice shows, in the modern world, pressure and coercion do not bring the desired results. Instead, such actions only push other countries to unite in opposition to American hegemony,” the ambassador explains.

    At the same time, he assured that China is determined to withstand the tariff war with the United States to the bitter end. According to him, despite the eight-year-long Sino-American trade war, the scale of China’s foreign trade continues to grow, having increased from 30 trillion to 43 trillion yuan. In addition, the number of China’s foreign trade partners is also increasing. Zhang Hanhui cites data according to which in 2024, China’s trade volume with countries participating in the Belt and Road initiative increased by 6.4 percent, and the share of new markets, including ASEAN countries, in China’s foreign trade amounted to almost 60 percent. Meanwhile, the share of China’s exports to the United States decreased from about 19.2 percent in 2018 to 14.7 percent in 2024.

    As Zhang Hanhui emphasizes, no matter how unpredictable and reckless the US acts, China will continue to confidently follow its own path, consistently promoting the policy of opening up and supporting the construction of an open world economy.

    “History has repeatedly proven that trade protectionism does not contribute to the improvement of one’s own economy, but on the contrary, seriously undermines the world trading system, provokes global economic crises and ultimately harms both others and oneself. Ignoring the lessons of history inevitably leads to negative consequences,” the article says.

    The Ambassador confirmed China’s readiness to strengthen solidarity and mutually beneficial cooperation with Russia and with all countries that adhere to the principles of honesty and fairness.

    “We will jointly implement multilateralism, promote the improvement of the global governance system, and build a community with a shared future for mankind, so as to make greater contributions to improving the well-being of the peoples of China and Russia, as well as safeguarding world peace and development,” Zhang Hanhui concluded. –0–

    MIL OSI Russia News

  • MIL-OSI: Westport Fuel Systems Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport“) (TSX:WPRT / Nasdaq:WPRT) reported financial results for the first quarter ended March 31, 2025, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

    “We continue to make significant strides in transforming Westport and sharpening our strategic focus. Our priorities remain clear: driving success through Cespira, our HPDI joint venture with Volvo Group; pursuing operational excellence through initiatives to streamline processes and reduce costs; and positioning Westport at the forefront of the alternative fuel shift.

    These priorities are guiding us as we work towards a brighter future. We’re seeing the impact of our efforts in our recent results – we significantly improved our net loss to $2.5 million in Q1 of 2025 from a net loss of $13.6 million in Q1 of 2024. This was supported by a $3.5 million increase in gross profit and an $8.1 million decrease in operating expenses. We also reported a substantial improvement in adjusted EBITDA as compared to the same period of the prior year.

    Looking to the future, with the announcement of the proposed sale of our light-duty business, Westport is realigning to focus on the hard-to-decarbonize applications primarily in long-haul and heavy-duty trucking where our unique HPDI and high-pressure technologies offer significant growth potential. Critically, this transaction is designed to provide immediate cash proceeds that bolster our balance sheet and fund growth opportunities in Cespira and the High-Pressure Controls & Systems business.

    Now, the conversation has changed. Our attendance at the Advanced Clean Transportation Expo or ACT Expo, the largest showcase of clean transportation technologies in North America, validated our view that the market recognizes that the internal combustion engine utilizing alternative fuels is an affordable solution that also decarbonizes long-haul, heavy-duty transport. Westport is the clean-tech innovation company to help drive this change. Through Cespira, the HPDI fuel system does the on-engine work to our High Pressure Controls and Systems business where our components do the off-engine work we are providing OEMs with simplified solutions to decarbonize.

    Volvo recently highlighted that demand for their gas-powered trucks that utilize HPDI technology has been increasing, with sales up more than 25% in 2024, a trend that we saw continue into Q1 with Cespira delivering improved revenue driven by increased volumes as compared to Q1 of 2024. While we remain focused on scaling our alternative fuel solutions, including LNG, CNG, RNG, and hydrogen systems, we are matching the cleanest gaseous fuels with the most efficient engine technologies. We are committed to delivering practical, commercially viable low-carbon solutions today and providing sustainable, high-performance solutions that help our customers achieve their goals now and for years to come.”

    Dan Sceli, Chief Executive Officer

    Q1 2025 Highlights

    • Revenues decreased 9% to $71.0 million compared to the same period in 2024, primarily driven by decreased sales volumes in our Heavy-Duty OEM and High-Pressure Controls & Systems segments. This was partially offset by increased sales in our Light-Duty segment in the quarter. In Q1 2024, our Heavy-Duty OEM segment included the financial results of the HPDI business which are now accounted for as part of the Cespira joint venture.
    • Net loss of $2.5 million for the quarter compared to net loss of $13.6 million for the same quarter last year. The decrease in net loss was driven by a $3.5 million increase in gross profit, decrease in operating expenditures by $8.1 million; change in foreign exchange gain or loss by $2.3 million and an increase in loss from investments accounted for by the equity method of $3.8 million.
    • Adjusted EBITDA[1] of nil  compared to negative $6.6 million for the same period in 2024.
    • Cash and cash equivalents were $32.6 million at the end of the first quarter. Cash used in operating activities during the quarter was $4.9 million with net cash used by working capital of $8.1 million, partially offset by operating income of $1.7 million. Investing activities included the collection of $10.5 million in a holdback receivable related to our previous sale of CWI to Cummins in 2022, capital contribution into Cespira of $4.7 million and purchase of capital assets of $3.1 million. Cash used in financing activities was attributed to net debt repayments of $3.9 million in the quarter.

    [1] Adjusted earnings before interest, taxes and depreciation is a non-GAAP measure. Please refer to NON-GAAP FINANCIAL MEASURES in Westport’s Management Discussion and Analysis for the reconciliation.

    Consolidated Results      Over /   
    ($ in millions, except per share amounts)     (Under)   
      1Q25 1Q24 %  
    Revenue $ 71.0   $ 77.6   (9 )%
    Gross Profit(2)   15.2     11.7   30 %
    Gross Margin(2)   21 %   15 %  
    Income (loss) from Investments Accounted for by the Equity Method(1)   (3.8 )     (100 )%
    Net Loss   (2.5 )   (13.6 ) 82 %
    Net Loss per Share – Basic   (0.14 )   (0.79 ) 82 %
    Net Loss per Share – Diluted   (0.14 )   (0.79 ) 82 %
    EBITDA (2)   (0.1 )   (9.2 ) 99 %
    Adjusted EBITDA (2)       (6.6 ) 100 %

    (1) This includes income or loss primarily from our investments in Cespira and Minda Westport Technologies Limited
    (2) Gross margins, EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.

    Segment Information

    Light-Duty

    Revenue for the three months ended March 31, 2025 was $64.2 million compared with $63.3 million for the three months ended March 31, 2024. Light-Duty revenue increased by $0.9 million compared to the prior year and was primarily driven by increase in sales in our light-duty OEM and DOEM businesses. The light-duty OEM business had an increase in sales from its Euro 6 program compared to the prior year. In the first quarter of 2024, DOEM had a significant decrease in sales to a customer. This was partially offset by lower sales in our IAM, electronics and fuel storage businesses compared to the prior year.

    Gross profit for the three months ended March 31, 2025 increased by $1.6 million to $14.0 million, or 22% of revenue, compared to $12.4 million, or 20% of revenue, for the same prior year period. This was primarily driven by a change in sales mix with an increase in sales to European customers and a reduction in sales to developing regions.

    High Pressure Controls & Systems

    Revenue for the three months ended March 31, 2025 was $1.4 million compared with $2.4 million for the three months ended March 31, 2024. The decrease in revenue for the three months ended March 31, 2025 compared to the prior year was primarily driven by the hydrogen industry slowdown impacting demand for hydrogen components.

    Gross profit for the three months ended March 31, 2025 decreased by $0.2 million to $0.2 million, or 14% of revenue, compared to $0.4 million, or 17% of revenue, for the same prior year period. This was primarily driven by lower sales volumes increasing the per unit manufacturing costs in the quarter.

    Heavy-Duty Original Equipment Manufacturer (“OEM”)

    Revenue for the three months ended March 31, 2025 was $5.4 million, compared to $11.9 million for the prior year. The decrease in revenue for the three months ended March 31, 2025 is a result of the continuation of the business in Cespira. The revenue earned in the current quarter was from our services provided under the transitional service agreement with Cespira that is expected to end by Q2 2026.

    Gross profit for the three months ended March 31, 2025 increased by $2.1 million to $1.0 million, or 19% of revenue, compared to negative $1.1 million or negative 9% of revenue, for the same prior year period. The Heavy-Duty OEM segment received $0.9million in credits from component suppliers for inventory sold in the quarter.

    Selected Cespira Statements of Operations Data

    We account for Cespira using the equity method of accounting. However, due to its significance to our long-term strategy and operating results, we disclose certain Cespira’s financial information in notes 7 and 17 of our interim financial statements for the three months ended March 31, 2025.

    The following table sets forth a summary of the financial results of Cespira for the three months ended March 31, 2025 .

    (in millions of U.S. dollars)   Three months ended March 31,   Change
          2025       2024     $   %
    Total revenue   $ 16.7     $     $ 16.7     %
    Gross profit   $ 0.5     $     $ 0.5     %
    Gross margin1     3 %     %        
    Operating loss   $ (7.1 )   $     $ (7.1 )   %
    Net loss attributable to the Company   $ (3.9 )   $     $ (3.9 )   %

    1Gross margin is non-GAAP financial measure. See the section ‘Non-GAAP Financial Measures’ for explanations and discussions of these non-GAAP financial measures or ratios.

    Revenue

    Cespira revenues for the three months ended March 31, 2025 were $16.7 million. In the prior year, the Heavy-Duty OEM segment, which included our HPDI business, had revenues of $11.9 million. This was primarily driven by an increase in HPDI fuel systems sold in the period.

    Gross Profit

    Gross profit was $0.5 million for the three months ended March 31, 2025. In the prior year, the Heavy-Duty OEM segment had negative $1.1 million in gross profit primarily driven by the increase in sales volumes compared to the prior year and reductions in manufacturing cost.

    Operating loss

    Cespira incurred operating losses of $7.1 million for the three months ended March 31, 2025. Cespira continues to incur operating losses as it scales its operations and expand into other markets.

    Q1 2025 Conference Call
    Westport has scheduled a conference call for May 14, 2025, at 7:00 am Pacific Time (10:00 pm Eastern Time) to discuss these results. To access the conference call please register at
    https://register-conf.media-server.com/register/BI73bcac200e5f4652873668cf803d72ed

    The live webcast of the conference call can be accessed through the Westport website at
    https://investors.wfsinc.com/.

    Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

    The webcast will be archived on Westport’s website at https://investors.wfsinc.com.

    Financial Statements and Management’s Discussion and Analysis

    To view Westport financials for the first quarter ended March 31st, 2025, please visit https://investors.wfsinc.com/financials/

    About Westport Fuel Systems

    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

    Cautionary Note Regarding Forward Looking Statements
    This press release contains forward-looking statements, including statements regarding future strategic initiatives and future growth, future of our development programs (including those relating to HPDI and Hydrogen), our expectations for 2024 and beyond, including the demand for our products, and the future success of our business and technology strategies. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward looking statements. These risks, uncertainties and assumptions include those related to our revenue growth, operating results, industry and products, the general economy, conditions of and access to the capital and debt markets, solvency, governmental policies and regulation, technology innovations, fluctuations in foreign exchange rates, operating expenses, continued reduction in expenses, ability to successfully commercialize new products, the performance of our joint ventures, the availability and price of natural gas and hydrogen, new environmental regulations, the acceptance of and shift to natural gas and hydrogen vehicles,fuel emission standards, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, the effects and duration of the Russia-Ukraine conflict, supply chain disruptions as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102.

    Contact Information
    Investor Relations
    Westport Fuel Systems
    T: +1 604-718-2046

    GAAP and Non-GAAP Financial Measures

    Our financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These U.S. GAAP financial statements include non-cash charges and other charges and benefits that may be unusual or infrequent in nature or that we believe may make comparisons to our prior or future performance difficult. In addition to conventional measures prepared in accordance with U.S. GAAP, Westport and certain investors use EBITDA and Adjusted EBITDA as an indicator of our ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. Management also uses these non-GAAP measures in its review and evaluation of the financial performance of Westport. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or “EBITDA multiple” that is based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a company. We believe that these non-GAAP financial measures also provide additional insight to investors and securities analysts as supplemental information to our U.S. GAAP results and as a basis to compare our financial performance period-over-period and to compare our financial performance with that of other companies. We believe that these non-GAAP financial measures facilitate comparisons of our core operating results from period to period and to other companies by, in the case of EBITDA, removing the effects of our capital structure (net interest income on cash deposits, interest expense on outstanding debt and debt facilities), asset base (depreciation and amortization) and tax consequences. Adjusted EBITDA provides this same indicator of Westports’ EBITDA from continuing operations and removing such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs which are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events.

    Segment Information

    EBITDA and Adjusted EBITDA are intended to provide additional information to investors and analysts and do not have any standardized definition under U.S. GAAP, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore are not necessarily indicative of operating profit or cash flow from operations as determined under U.S. GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently.

    Segment earnings or losses before income taxes, interest, depreciation, and amortization (“Segment EBITDA”) is the measure of segment profitability used by the Company. The accounting policies of our reportable segments are the same as those applied in our consolidated financial statements. Management prepared the financial results of the Company’s reportable segments on basis that is consistent with the manner in which Management internally disaggregates financial information to assist in making internal operating decisions. Certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as IT, human resources, legal, finance and supply chain management. Segment EBITDA is not defined under US GAAP and may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. Reconciliations of reportable segment information to consolidated statement of operations can be found in section “NON-GAAP FINANCIAL MEASURES & RECONCILIATIONS” within this press release.

      Three months ended March 31, 2025
      Light-Duty   High-Pressure Controls & Systems   Heavy-Duty OEM   Cespira   Total Segment
    Revenue $ 64.2   $ 1.4     $ 5.4   $ 16.7     $ 87.7
    Cost of revenue   50.2     1.2       4.4     16.2       72.0
    Gross profit   14.0     0.2       1.0     0.5       15.7
    Operating expenses:
    Research & development   3.0     1.0       0.1     3.1       7.2
    General & administrative   4.1     0.3       0.1     2.7       7.2
    Sales & marketing   2.3     0.1           0.3       2.7
    Depreciation & amortization   0.7     0.1           0.7       1.5
        10.1     1.5       0.2     6.8       18.6
    Equity income (note 8)   0.1                     0.1
    Add back: Depreciation & amortization   1.9     0.1           1.6       3.6
    Segment EBITDA $ 5.9   $ (1.2 )   $ 0.8   $ (4.7 )   $ 0.8
      Three months ended March 31, 2024
      Light-Duty   High-Pressure Controls & Systems   Heavy-Duty OEM   Total Segment
    Revenue $ 63.3   $ 2.4     $ 11.9     $ 77.6  
    Cost of revenue   50.9     2.0       13.0       65.9  
    Gross profit   12.4     0.4       (1.1 )     11.7  
    Operating expenses:              
    Research & development   3.6     1.3       2.8       7.7  
    General & administrative   3.7     0.2       1.8       5.7  
    Sales & marketing   2.1     0.2       0.5       2.8  
    Depreciation & amortization   0.6     0.1       0.1       0.8  
        10.0     1.8       5.2       17.0  
    Equity income                    
    Add back: Depreciation & amortization   1.5     0.1       1.4       3.0  
    Segment EBITDA $ 3.9   $ (1.3 )   $ (4.9 )   $ (2.3 )
    Gross Profit    
    (expressed in millions of U.S. dollars) 1Q25   1Q24
    Three months ended  
    Revenue $ 71.0     $ 77.6  
    Less: Cost of revenue   55.8       65.9  
    Gross profit   15.2       11.7  
    Gross margin %   21.4 %     15.1 %
      Three months ended March 31, 2025
      Total Segment   Less: Cespira   Add: Corporate & unallocated   Total Consolidated
    Revenue $ 87.7   $ 16.7   $     $ 71.0  
    Cost of revenue   72.0     16.2           55.8  
    Gross profit   15.7     0.5           15.2  
    Operating expenses:
    Research & development   7.2     3.1           4.1  
    General & administrative   7.2     2.7     1.9       6.4  
    Sales & marketing   2.7     0.3     0.3       2.7  
    Depreciation & amortization   1.5     0.7           0.8  
        18.6     6.8     2.2       14.0  
    Equity income (loss)   0.1         (3.9 )     (3.8 )
      Three months ended March 31, 2024
      Total Segment   Add: Corporate & unallocated   Total Consolidated
    Revenue $ 77.6   $   $ 77.6
    Cost of revenue   65.9         65.9
    Gross profit   11.7         11.7
    Operating expenses:
    Research & development   7.7         7.7
    General & administrative   5.7     4.7     10.4
    Sales & marketing   2.8     0.4     3.2
    Depreciation & amortization   0.8     0.2     1.0
        17.0     5.3     22.3
    Equity income          
    Reconciliation of Segment EBITDA to Loss before income taxes   Three months ended March 31,
        2025       2024  
    Total Segment EBITDA   $ 0.8     $ (2.3 )
    Adjustments:
    Depreciation & amortization     2.0       3.0  
    Cespira’s Segment EBITDA     (4.7 )      
    Cespira’s equity loss     3.9        
    Corporate and unallocated operating expenses     2.2       5.3  
    Foreign exchange loss     (0.5 )     1.8  
    Interest on long-term debt and accretion of royalty payable     0.7       0.8  
    Interest and other income, net of bank charges     (0.9 )     (0.3 )
    Loss before income taxes   $ (1.9 )   $ (12.9 )
    EBITDA and Adjusted EBITDA        
    (expressed in millions of U.S. dollars)   1Q25   1Q24
    Three months ended    
    Loss before income taxes   $ (1.9 )   $ (12.9 )
    Interest expense (income), net     (0.2 )     0.5  
    Depreciation and amortization     2.0       3.2  
    EBITDA     (0.1 )     (9.2 )
    Stock based compensation (recovery)     0.3       0.3  
    Unrealized foreign exchange (gain) loss     (0.5 )     1.8  
    Severance costs           0.5  
    Restructuring costs     0.3        
    Adjusted EBITDA   $     $ (6.6 )
    WESTPORT FUEL SYSTEMS INC.
    Condensed Consolidated Balance Sheets (unaudited)
    (Expressed in thousands of United States dollars, except share amounts)
    March 31, 2025 and December 31, 2024
     
        March 31, 2025   December 31, 2024
    Assets        
    Current assets:        
    Cash and cash equivalents (including restricted cash)   $ 32,637     $ 37,646  
    Accounts receivable     66,634       73,054  
    Inventories     63,214       53,526  
    Prepaid expenses     6,551       5,660  
    Total current assets     169,036       169,886  
    Long-term investments     40,052       39,732  
    Property, plant and equipment     45,314       41,956  
    Operating lease right-of-use assets     19,249       19,019  
    Intangible assets     5,174       5,277  
    Deferred income tax assets     10,261       9,695  
    Goodwill     2,996       2,876  
    Other long-term assets     3,163       3,180  
    Total assets   $ 295,245     $ 291,621  
    Liabilities and shareholders’ equity        
    Current liabilities:        
    Accounts payable and accrued liabilities   $ 93,127     $ 88,123  
    Current portion of operating lease liabilities     2,750       2,624  
    Current portion of long-term debt     13,225       14,660  
    Current portion of warranty liability     4,013       3,861  
    Total current liabilities     113,115       109,268  
    Long-term operating lease liabilities     16,560       16,433  
    Long-term debt     17,915       19,067  
    Warranty liability     1,603       1,456  
    Deferred income tax liabilities     4,063       4,029  
    Other long-term liabilities     4,391       4,343  
    Total liabilities     157,647       154,596  
    Shareholders’ equity:        
    Share capital:        
    Unlimited common and preferred shares, no par value        
    17,326,732 (2024 – 17,282,934) common shares issued and outstanding     1,246,408       1,245,805  
    Other equity instruments     9,081       9,472  
    Additional paid in capital     11,516       11,516  
    Accumulated deficit     (1,098,726 )     (1,096,275 )
    Accumulated other comprehensive loss     (30,681 )     (33,493 )
    Total shareholders’ equity     137,598       137,025  
    Total liabilities and shareholders’ equity   $ 295,245     $ 291,621  
    WESTPORT FUEL SYSTEMS INC.
    Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited)
    (Expressed in thousands of United States dollars, except share and per share amounts)
    Three months ended March 31, 2025 and 2024
     
        Three months ended March 31,
          2025       2024  
    Revenue   $ 70,955     $ 77,574  
    Cost of revenue     55,730       65,851  
    Gross profit     15,225       11,723  
    Operating expenses:        
    Research and development     4,052       7,693  
    General and administrative     6,397       10,353  
    Sales and marketing     2,758       3,287  
    Foreign exchange (gain) loss     (456 )     1,820  
    Depreciation and amortization     740       1,043  
          13,491       24,196  
    Income (loss) from operations     1,734       (12,473 )
             
    Income (loss) from investments accounted for by the equity method     (3,799 )     31  
    Interest on long-term debt     (676 )     (812 )
    Interest and other income, net of bank charges     869       341  
    Loss before income taxes     (1,872 )     (12,913 )
    Income tax expense     579       735  
    Net loss for the period     (2,451 )     (13,648 )
    Other comprehensive income (loss):        
    Cumulative translation adjustment     3,641       (430 )
    Ownership share of equity method investments’ other comprehensive loss     (829 )      
          2,812       (430 )
    Comprehensive income (loss)   $ 361     $ (14,078 )
             
    Loss per share:        
    Net loss per share – basic and diluted   $ (0.14 )     (0.79 )
    Weighted average common shares outstanding:        
    Basic and diluted     17,322,681       17,220,540  
    WESTPORT FUEL SYSTEMS INC.
    Condensed Consolidated Statements of Cash Flows (unaudited)
    (Expressed in thousands of United States dollars)
    Three months ended March 31, 2025 and 2024
     
        Three months ended March 31,
          2025       2024  
    Operating activities:        
    Net loss for the period   $ (2,451 )   $ (13,648 )
    Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
    Depreciation and amortization     1,930       3,247  
    Stock-based compensation expense     212       331  
    Unrealized foreign exchange (gain) loss     (456 )     1,820  
    Deferred income tax (recovery)     (33 )     (40 )
    Loss (income) from investments accounted for by the equity method     3,799       (31 )
    Interest on long-term debt     22       22  
    Change in inventory write-downs     223       413  
    Change in bad debt expense     (33 )     (121 )
    Other           (248 )
    Changes in operating assets and liabilities:        
    Accounts receivable     (2,072 )     12,526  
    Inventories     (7,502 )     (7,434 )
    Prepaid expenses     (415 )     (400 )
    Accounts payable and accrued liabilities     2,840       4,725  
    Warranty liability     (963 )     (1,020 )
    Net cash provided by (used in) operating activities     (4,899 )     142  
    Investing activities:        
    Purchase of property, plant and equipment     (3,142 )     (4,893 )
    Proceeds on sale of assets     82       135  
    Proceeds from holdback receivable     10,450        
    Capital contributions to investments accounted for by the equity method (note 7)     (4,686 )      
    Net cash used in investing activities     2,704       (4,758 )
    Financing activities:        
    Repayments of operating lines of credit and long-term facilities     (3,918 )     (17,689 )
    Drawings on operating lines of credit and long-term facilities           11,848  
    Net cash used in financing activities     (3,918 )     (5,841 )
    Effect of foreign exchange on cash and cash equivalents     1,104       (494 )
    Net decrease in cash and cash equivalents     (5,009 )     (10,951 )
    Cash and cash equivalents, beginning of period (including restricted cash)     37,646       54,853  
    Cash and cash equivalents, end of period (including restricted cash)   $ 32,637     $ 43,902  

    The MIL Network

  • MIL-OSI Europe: Minister welcomes Zelenskyy-Putin meeting to end fighting in Ukraine

    Source: France-Diplomatie – Ministry of Foreign Affairs and International Development

    Published on May 13, 2025

    Statements to the press by M. Jean-Noël Barrot, Minister for Europe and Foreign Affairs, on the sidelines of his visit to Calvados department (Caen, May 12, 2025)

    Can you confirm that you had a call today with Marco Rubio and other foreign-minister counterparts? And what was the nature of these discussions?

    THE MINISTER – Yes, at President Macron’s request, I spoke to my counterpart the US Secretary of State [and] the foreign ministers of the European countries present in Kyiv at the weekend, then the Ukrainian minister. We reiterated our desire to see an immediate, unconditional 30-day ceasefire. And then we signalled our support for the idea of a meeting on Thursday between President Zelenskyy of Ukraine and President Putin of Russia.

    Vladimir Putin declared today that any ultimatum was unacceptable. What do you say to him?

    THE MINISTER – I say that Vladimir Putin proposed a direct meeting with Volodymyr Zelenskyy. Volodymyr Zelenskyy agreed to it. Vladimir Putin must now keep to his part of the bargain. He must turn up in Istanbul on Thursday for a meeting with Volodymyr Zelenskyy. Then, in order for discussions to take place calmly and lead to peace, there absolutely must be a ceasefire, because you can’t negotiate while under attack from bombs or drones.

    If this doesn’t happen, what sanctions could there be?

    THE MINISTER – We’re preparing to put in place particularly powerful, massive sanctions that would force Vladimir Putin to observe a ceasefire if he didn’t move towards one. These sanctions would be coordinated with the American sanctions that the American senators have prepared, with 500% tariffs on oil imports and on countries importing Russian oil today.

    And France, specifically?

    THE MINISTER – We adopt sanctions at European level. We’ve adopted 17 sanctions packages targeting Russian entities and individuals helping to circumvent the sanctions, helping to destabilize European public opinion, and also the financial institutions, the energy institutions. What we’re preparing are additional sanctions that will be massive and target the energy and financial sectors.

    Can you give details of these sanctions on the oil sectors, for example?

    THE MINISTER – A number of sanctions have already been adopted, and at the weekend, following the discussions that took place in Kyiv, we asked the European Commission to prepare further, even more substantial sanctions to force Vladimir Putin to begin a peace process.

    On gas and oil?

    THE MINISTER – On oil, in particular, which now accounts for 25% of Russia’s budget.

    Donald Trump said he’s ready to join the negotiations. Is that a good thing?

    THE MINISTER – He’s obviously welcome. He was the one from the outset who proposed an unconditional 30-day ceasefire in the air, at sea and on land – a proposal accepted by the Ukrainians two months ago now, and which Vladimir Putin must now in turn accept./.

    MIL OSI Europe News

  • MIL-OSI Russia: IMF Reaches Staff-Level Agreement with Cabo Verde on the Sixth Review under the Extended Credit Facility (ECF) and the Third Review under the Resilience and Sustainability Facility (RSF) Arrangement

    Source: IMF – News in Russian

    May 13, 2025

    • IMF staff and Cabo Verdean authorities reached a staff-level agreement on the sixth ECF review and third RSF review, and a fifteen-month extension of both arrangements with an augmentation equivalent to thirty percent of quota under the extended ECF.
    • The ECF-supported program aims to strengthen public finances, ensure debt sustainability, minimize fiscal risks from public enterprises, modernize monetary policy, and raise potential growth. The RSF supports government climate reforms and catalyzes private climate finance. Extension to December 2026 supports the continued success of the authorities’ economic policy and reform agenda.
    • All end-December 2024 ECF structural benchmarks (SB) and quantitative performance criteria (PCs) were met. The implementation of reform measures (RMs) under the RSF has been progressing, but some reforms will take more time than expected.

    Praia, Cabo Verde: An International Monetary Fund (IMF) team led by Mr. Martin Schindler held meetings with the Cabo Verdean authorities during May 5 – 13, 2025, to discuss the sixth review under the Extended Credit Facility (ECF) arrangement, the third review under the Resilience and Sustainability Facility (RSF) arrangement, and economic policies and reforms to be supported under an extension of both arrangements. Access under the existing ECF is 190 percent of quota (SDR 45.03 million, approximately US$ 63.3 million) and access under the RSF is 100 percent of quota (SDR 23.69 million, approximately US$ 31.69 million). The augmentation of 30 percent of quota (SDR 7.11 million) will bring the total ECF arrangement to SDR 52.14 million.

    At the conclusion of the mission, Mr. Schindler issued the following statement:

    “I am pleased to announce that the IMF team and the Cabo Verdean authorities reached staff-level agreements on the policies needed to complete the sixth review under the ECF-supported program and the third review of the RSF arrangement as well as on economic policies and reforms that could be supported by an extension. Upon approval by the IMF’s Executive Board, completion of the sixth ECF review will allow disbursement of SDR 4.51 million (approximately US$ 6.09 million), while the completion of the third RSF review will allow disbursement of up to SDR 7.896 million (approximately US$ 10.66 million), depending on reform progress under the RSF.

    “Cabo Verde’s economy continues to perform well, underpinned by tourism, robust export performance and private consumption growth. Increasing the execution of the government’s capital budget would enhance potential growth. Economic growth in 2024 was strong at 7.3 percent, with 1.0 percent inflation and a current account surplus. The 2024 fiscal balance exceeded program targets, driven by lower primary expenditures and strong tax revenue growth. The public debt-to-GDP ratio continues to decline.

    “All end-December 2024 structural benchmarks (SB) and quantitative performance criteria (PCs) were met. The implementation of reform measures (RMs) under the RSF has been progressing, but some reforms will take more time than expected.

    “Cabo Verde’s economic outlook remains solid. GDP growth in 2025 is projected at 5.2 percent, while inflation is expected to converge to about 2 percent in 2025 and over the medium-term, broadly in line with euro area inflation. The current account balance is projected to gradually return to a deficit of 1.3 percent of GDP in 2025, and then stabilize at around -3.5 percent over the medium term.

    “Fiscal performance is forecast to be strong in 2025. Cabo Verde aims to maintain a fiscal path aligned with debt reduction goals, targeting a higher primary balance than foreseen under the previous review. Tax revenue is expected to increase reflecting ongoing tax reforms.

    “The mission welcomed the BCV’s Monetary Policy Committee (MPC) decision to raise the deposit rate by 30 basis points to 2.25 percent to fully close the gap with the ECB. Continued data-driven adjustments in monetary policy may be needed to protect the exchange rate peg and appropriate reserves buffers. Data for end-March 2025 suggests that the financial system is liquid, profitable, and well capitalized.

    “The macroeconomic outlook remains favorable but is subject to substantial downside risks. Cabo Verde is vulnerable to external shocks, including in energy, food prices, and tourism, especially in the context of heightened uncertainties in global trade frameworks. A global growth slowdown and supply chain disruptions would have a negative impact on tourism, inflation, and growth. Climate-related risks, such as rising sea levels and extreme weather events, pose long-term threats to infrastructure and economic stability. Delays in SOE reforms and increasing public debt could undermine fiscal sustainability. On the upside, continued strength in tourist arrivals could lift growth. Legislative and Presidential elections will take place in 2026.

    “The IMF team is grateful to the Cabo Verdean authorities and other stakeholders for the productive discussions, hospitality, and candid discussions.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Kwabena Akuamoah-Boateng

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

    https://www.imf.org/en/News/Articles/2025/05/13/pr25144-cabo-verde-imf-reaches-sla-on-the-6th-rev-under-the-ecf-and-3rd-rev-under-the-rsf-arr

    MIL OSI

    MIL OSI Russia News

  • MIL-OSI Europe: Written question – Participation in the Olympic Games as a framework for peace and mutual understanding – E-001810/2025

    Source: European Parliament

    Question for written answer  E-001810/2025
    to the Commission
    Rule 144
    Emmanouil Fragkos (ECR)

    The Olympic Games are a timeless symbol of peace and international concord, promoting respect, cooperation and solidarity between nations across the world. The Olympic Truce, which has its roots in ancient Greece, recalls the power of sport in bridging differences or at least in providing an arena of coexistence, even in times of war. The Games provide a framework for accord and the hope of a more peaceful world. As Greeks, we know that the periodically expressed European positions on excluding Russian and Belarusian athletes go against the Olympic spirit.

    On 14 June 2024, the Vice-President of the Commission/High Representative of the Union for Foreign Affairs and Security Policy issued a statement on the alignment of certain countries on restrictive measures against Russia. The statement was part of the restrictive measures imposed by the EU on Russia.

    In October 2024, the relevant Vice-President of the European Commission stated that athletes from Russia and Belarus who have supported or participated in the aggression against Ukraine should not participate in international sporting events. At the same time, there is an exclusion of Russian and Belarusian athletes from most European events.

    Does the Commission consider that participation in the Olympic Games and all major sporting events contributes to peace and understanding between nations or not?

    Submitted: 6.5.2025

    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Text adopted – 2023 and 2024 reports on Türkiye – P10_TA(2025)0092 – Wednesday, 7 May 2025 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to the European Council conclusions of 17 and 18 April 2024, 30 June 2023, 23 June 2022, 24 June 2021 and 12 December 2019, and to all relevant previous Council and European Council conclusions,

    –  having regard to Türkiye’s membership of the Council of Europe and NATO,

    –  having regard to the Agreement between the European Union and the Republic of Turkey on the readmission of persons residing without authorisation(1) (EU-Turkey Readmission Agreement),

    –  having regard to the statement of the members of the European Council of 25 March 2021 on Türkiye,

    –  having regard to the ‘EU-Turkey statements’ of 18 March 2016 and 29 November 2015,

    –  having regard to the ‘Turkey Negotiating Framework’ of 3 October 2005,

    –  having regard to the declaration issued by the European Community and its Member States on 21 September 2005 following the declaration made by Turkey upon its signature of the Additional Protocol to the Ankara Agreement on 29 July 2005,

    –  having regard to the Council conclusions of December 2006 and March 2020, and to the Presidency Conclusions of the European Council in Copenhagen of 21-22 June 1993, also known as the Copenhagen Criteria,

    –  having regard to the Council conclusions on Enlargement of 17 December 2024 and of 12 December 2023,

    –  having regard to the International Law of the Sea and the United Nations Convention on the Law of the Sea (UNCLOS),

    –  having regard to the Commission communication of 30 October 2024 on EU enlargement policy (COM(2024)0690) and to the accompanying Türkiye 2024 Report (SWD(2024)0696),

    –  having regard to the Commission communication of 8 November 2023 on EU enlargement policy (COM(2023)0690) and to the accompanying Türkiye 2023 Report (SWD(2023)0696),

    –  having regard to Special report 06/2024 of the European Court of Auditors of 24 April 2024 entitled ‘The Facility for Refugees in Turkey – Beneficial for refugees and host communities, but impact and sustainability not yet ensured’,

    –  having regard to the joint communications from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy to the European Council of 29 November 2023 (JOIN(2023)0050) and of 22 March 2021 (JOIN(2021)0008) on the state of play of EU-Türkiye political, economic and trade relations,

    –  having regard to the Commission communication of 19 December 2024 entitled ‘Eighth Annual Report of the Facility for Refugees in Türkiye’ (COM(2024)0593),

    –  having regard to the fundamental principles of international law and to the Charter of the United Nations, the 1977 and the 1979 High-Level Agreements between the leaders of the two communities, and the relevant resolutions of the UN Security Council on Cyprus, including Resolution 186 (1964) of 4 March 1964, which reaffirms the sovereignty of the Republic of Cyprus, Resolution 550 (1984) of 11 May 1984 on secessionist actions in Cyprus, Resolution 789 (1992) of 25 November 1992, and Resolution 2537 (2020) on the UN Peacekeeping Force in Cyprus (UNFICYP),

    –  having regard to Article 46 of the European Convention on Human Rights (ECHR), which states that the contracting parties undertake to abide by the final judgment of the European Court of Human Rights (ECtHR) in any case to which they are parties, and to the ensuing obligation of Türkiye to implement all judgments of the ECtHR,

    –  having regard to the relevant resolutions of the Committee of Ministers of the Council of Europe,

    –  having regard to the 2025 Freedom in the World report published by Freedom House,

    –  having regard to the 2024 World Press Freedom Index published by Reporters Without Borders,

    –  having regard to the January 2025 prison statistics report published by the Civil Society in the Penal System Association (CISST) and to the 2024 country profile for Türkiye published by Prison Insider,

    –  having regard to the Global Gender Gap Report 2024 published by the World Economic Forum,

    –  having regard to recent reports of the We Will Stop Femicide Platform (Kadın Cinayetlerini Durduracağız Platformu),

    –  having regard to the UNESCO statement on Hagia Sophia of 10 July 2020, and to the relevant UNESCO World Heritage Committee decisions 44 COM 7B.58 (2021) and 45 COM 7B.58 (2023), adopted in its 44th and 45th sessions respectively,

    –  having regard to its previous resolutions on Türkiye, in particular those of 13 September 2023 on the 2022 Commission Report on Türkiye(2), of 7 June 2022 on the 2021 Commission Report on Turkey(3), and of 26 November 2020 on escalating tensions in Varosha following the illegal actions by Türkiye and the urgent need for the resumption of talks(4),

    –  having regard to its resolution of 29 February 2024 on deepening EU integration in view of future enlargement(5),

    –  having regard to its resolution of 15 April 2015 on the centenary of the Armenian Genocide(6),

    –  having regard to its resolutions of 5 May 2022 on the case of Osman Kavala in Turkey(7), of 10 October 2024 on the case of Bülent Mumay in Türkiye(8) and of 13 February 2025 on recent dismissals and arrests of mayors in Türkiye(9),

    –  having regard to European Commission President Ursula von der Leyen’s visit to Ankara in December 2024,

    –  having regard to Rule 55 of its Rules of Procedure,

    –  having regard to the report of the Committee on Foreign Affairs (A10-0067/2025),

    A.  whereas Türkiye remains a candidate for EU accession, and EU membership remains the repeatedly declared political goal of the Turkish Government, although the gap with the values and interests of the EU is growing; whereas EU accession negotiations have effectively been at a standstill since 2018, owing to the deterioration of the rule of law and democracy in Türkiye;

    B.  whereas any accession country is expected to respect democratic values, the rule of law and human rights, and to abide by EU law; whereas Türkiye needs to credibly demonstrate its commitment to closer relations and alignment with the European Union in order to reinvigorate its European perspective; whereas being a candidate country presumes a willingness to progressively approach and align with the EU in all aspects, including values, interests, standards and policies, inter alia with its common foreign and security policy, to respect and uphold the Copenhagen criteria, and to pursue and maintain good neighbourly relations with the EU and all of its Member States without discrimination; whereas the tensions between the EU and Türkiye in relation to the situation in the Eastern Mediterranean have de-escalated but not ceased; whereas Türkiye has repeatedly been asked to refrain from all actions which violate the sovereignty and sovereign rights of all EU Member States and are in breach of international and EU law;

    C.  whereas the 2023 Commission progress report on Türkiye painted a picture of continued backsliding, while its latest progress report of 2024 appears to present a slightly more positive overall picture of progress on enlargement-related reforms in Türkiye, such as in the area of economic and monetary policies; whereas this cannot, however, be applied to the core matters related to democracy and fundamental rights, which have deteriorated even further since the release of the Commission’s latest report; whereas the gap between Türkiye and the EU’s values and normative framework has therefore remained unaddressed during the recent period with the persistent use of laws and measures aimed at curtailing the rule of law and human rights, fundamental freedoms and civil liberties;

    D.  whereas the joint communication on the state of play of EU-Türkiye relations of 29 November 2023 struck a more positive note, putting forward a set of recommendations on cooperating in areas of joint interest in a phased, proportionate and reversible manner and based on the established conditionalities; whereas only a few concrete steps in line with the commitments therein have been taken so far; whereas the April 2024 European Council mandated Coreper to advance in the implementation of this joint communication; whereas nevertheless this joint communication has not yet received a clear political endorsement by the Council;

    E.  whereas Türkiye is a member of the Council of Europe and is therefore bound by the judgments of the ECtHR; whereas owing to its failure to apply landmark ECtHR rulings, Türkiye is currently facing historical infringement proceedings; whereas Türkiye consistently ranks among the countries most frequently found in violation of the human rights and fundamental freedoms protected by the European Convention on Human Rights; whereas as of late November 2024, Türkiye had the highest number of pending cases before the ECtHR, with 22 450 applications, representing 36,7 % of the Court’s total caseload of 61 250 applications;

    F.  whereas Türkiye is classified as ‘not free’ by Freedom House and has experienced one of the worst declines in the level of freedom in the world in the past 10 years; whereas Türkiye ranks 158th out of 180 countries in the 2024 World Press Freedom Index; whereas the Turkish Government has closed dozens of media outlets, routinely blocks online articles, is reported to control 85 % of national media and uses its state agency Anadolu as an organ of propaganda;

    G.  whereas the Turkish constitution provides for sufficient protection of fundamental rights, but the practice of the institutions and the critical state of the judiciary, including the lack of respect for Constitutional Court rulings, are the main reasons for the dire situation of the rule of law and human rights in the country, issues repeatedly described in the reports of the EU, the Council of Europe and international organisations;

    H.  whereas Türkiye has the highest incarceration rate and the largest prison population of all Council of Europe Member States, with an overcrowded prison population that has grown by 439 % between 2005 and 2023 and currently represents more than a third of all inmates of Council of Europe countries;

    I.  whereas Türkiye is ranked 127th out of 146 countries in the 2024 Global Gender Gap Index, underscoring severe gender inequality and systemic failures in protecting women’s rights; whereas according to the 2024 report of the We Will Stop Femicide Platform (Kadın Cinayetlerini Durduracağız Platformu), 394 women were murdered by men and 259 women were found dead in suspicious circumstances in Türkiye in 2024, the highest number recorded since the civil society group started collecting data in 2010; whereas in its 2023 report, the platform noted that 315 women were killed by men, and 248 women were found dead in suspicious circumstances;

    J.  whereas in recent months, Türkiye has taken steps towards the resumption of a process for a peaceful resolution of the Kurdish question; whereas on 27 February 2025 jailed militant leader Abdullah Öcalan called on his Kurdistan Workers’ Party (PKK) to disarm and disband, providing a historic opportunity to end the Turkish-Kurdish conflict; whereas these efforts have been accompanied by increasing repression and the curtailment of the powers of democratic local governments, including the dismissal of elected Kurdish and other opposition mayors;

    K.  whereas, alongside being a candidate for EU accession, Türkiye is a NATO ally and a key partner in the areas of trade, economic relations, security, the fight against terrorism, and migration; whereas Türkiye continues to play a key role in the region, acts as a bridge between Europe and Asia, and remains a key partner for the stability of the wider East Mediterranean region; whereas Türkiye continues to play a significant role in the Syrian conflict and maintains a military presence in northern Syria;

    L.  whereas Türkiye has not aligned with EU sanctions against Russia; whereas trade between Türkiye and Russia has nearly doubled since the EU’s imposition of sanctions against Russia; whereas despite some steps taken, Türkiye has not prevented its territory from being used to circumvent EU sanctions against Russia;

    M.  whereas the 2024 Commission progress report on Türkiye states that, as at 30 September 2024, the country maintained a very low alignment rate of 5 % with relevant statements of the High Representative on behalf of the EU and with relevant Council decisions, compared to 9 % in 2023;

    N.  whereas Türkiye is the EU’s fifth largest trade partner, and the EU is Türkiye’s largest trading partner by far, as well as its primary source of foreign direct investment;

    O.  whereas in the past year, the level of engagement between the EU and Türkiye has increased in terms of both technical and high-level meetings in sectoral areas;

    P.  whereas Türkiye has applied for membership of BRICS+ and shown interest in joining the Shanghai Cooperation Organisation (SCO);

    Q.  whereas following a period of unorthodox economic policy, Türkiye has implemented a tighter monetary policy over the past year leading to a reduction in external imbalances and a moderation of inflationary pressures;

    R.  whereas in March 2025 the Turkish Government spent at least USD 10 billion of its currency reserves to counteract the collapse of its financial markets and the devaluation of the lira caused by its decision to arrest and detain Mayor of Istanbul and prominent opposition politician Ekrem İmamoğlu; whereas the Turkish Government’s undermining of Turkish democracy and the rule of law creates an unfavourable environment for foreign direct investment and hence weakens the Turkish economy, with grave consequences for the socio-economic situation of Turkish citizens;

    S.  whereas Türkiye hosts the largest refugee population in the world, with around 3,1 million registered refugees, mainly from Syria, Iraq and Afghanistan; whereas since 2011 the EU has directed more than EUR 10 billion to assisting refugees and host communities in Türkiye; whereas according to a credible investigative report by Lighthouse Reports and eight media partners, the EU is funding removal centres in Türkiye implicated in the detention, abuse and forced deportations of refugees under the guise of voluntary return;

    T.  whereas in addition to the emergency assistance coordinated via the EU Civil Protection Mechanism, with an estimated financial value of EUR 38 million, the EU provided EUR 78,2 million in humanitarian aid for the earthquake response in 2023, and EUR 26 million in humanitarian aid in 2024; whereas the EU signed an additional EUR 400 million in assistance under the EU Solidarity Fund to finance recovery operations following the devastating earthquake;

    U.  whereas Türkiye has systematically misused counterterrorism laws to target elected officials, opposition politicians, journalists and human rights defenders, among others;

    Commitment to EU accession

    1.  Recognises the long-standing aspirations of Turkish civil society regarding accession to the European Union; welcomes the Turkish Government’s recent statements reiterating its commitment to EU membership as a strategic goal amid an effort to revitalise EU-Türkiye relations in line with relevant European Council conclusions in a phased, proportionate and reversible manner; recognises the EU’s commitment to fostering this engagement through enhanced dialogue and cooperation but encourages it to review its expectations for engagement in the foreseeable future, in light of the deterioration of democratic standards that has been pushing the country towards an authoritarian model over the past decade, accelerating recently with the politically motivated arrest of President Recep Tayyip Erdoğan’s main political opponent, Mayor of Istanbul Metropolitan Municipality Ekrem İmamoğlu;

    2.  Stresses that EU membership is contingent on fulfilling the accession (Copenhagen) criteria, which require stable institutions that guarantee democracy, the rule of law, human rights, respect for and the protection of minorities, good neighbourly relations, respect for international law and alignment with the EU CFSP; further notes that these are absolute criteria, not issues subject to transactional strategic considerations and negotiations; stresses that recognition of all Member States is a necessary component of the accession process;

    3.  Regrets, in this regard, that the aforementioned positive statements have not been accompanied by any concrete actions by the Turkish authorities to close the persistent and vast gap between Türkiye and the EU on values and standards, particularly with regard to the fundamentals of the accession process; reiterates its previously adopted conclusion that the Turkish Government continues to show, as it has done for the past few years, a clear lack of political will to carry out the necessary reforms to reactivate the accession process and continues to pursue a deeply entrenched authoritarian understanding of the presidential system;

    4.  Acknowledges the strategic and geopolitical importance of Türkiye, and its increasing presence and influence in areas critical to international security, such as the Black Sea region, including Ukraine, and the Middle East; reiterates that Türkiye is a strategic partner and NATO ally, and a country with which the EU has close relations in the areas of security, trade, economy and migration; welcomes closer cooperation between Türkiye and the EU, to which the Turkish Government has made frequent reference, but stresses that this cannot in any way be a substitute for the necessary real progress which Türkiye, as a candidate country, needs to make with regard to meeting the fundamental requirements for accession; highlights, in this regard, that there are no shortcuts in the accession process and that no argument can be put forward to avoid discussing the democratic principles which are at the core of the accession process;

    5.  Notes that the Commission’s Türkiye report 2024 paints a more positive picture of reform implementation in the context of Türkiye’s accession process than the Türkiye report 2023, shifting from further deterioration to ‘no progress’ with regard to the rule of law and human rights issues; is of the opinion, however, that at least in key areas such as democracy, rule of law and fundamental rights, this is due to the fact that a very low point had already been reached and this situation has remained unchanged;

    6.  Further takes note of a nuanced shift in focus of the Türkiye report 2024, by contrast with the 2023 report, away from the accession process towards a strategic partnership between the European Union und Türkiye; is of the opinion that the critical state of the accession process is driving the Commission and the Council to focus merely on the partnership dimension of the EU’s relations with Türkiye, as is also reflected in the joint communication on the state of play of EU-Türkiye relations of 29 November 2023, and of 22 March 2021; highlights the increasing shift towards a different framework for the relationship, which might come at the expense of the accession process;

    The core of the accession process: democracy, the rule of law and fundamental rights

    7.  Considers that, in terms of human rights and the rule of law, Parliament’s recent resolutions on the matter remain valid in light of the continued dire human rights situation and democratic backsliding in Türkiye over the last year; fully endorses the latest resolutions of the Parliamentary Assembly of the Council of Europe and the related report by its Monitoring Committee, as well as the resolutions adopted by the Committee of Ministers of the Council of Europe, which depict in detail the wide range of serious shortfalls in human rights constantly reported by locally and internationally renowned human rights organisations;

    8.  Notes the Turkish Government’s stated commitment to judicial reform and the introduction of measures of an organisational nature; highlights, however, the need to introduce structural measures ensuring judicial independence; deeply regrets that, despite a reform strategy with nine judicial reform packages, the state of independence of the judiciary in Türkiye remains desolate following systematic government interference in and political instrumentalisation of the judicial system; deplores, in this regard, the weakening of remaining constitutional review mechanisms, particularly individual applications, and the frequent violations of due process;

    9.  Is dismayed by the persecution of legal professionals, including most recently the lawsuit filed by the Istanbul Chief Public Prosecutor’s Office that resulted in the removal of the leadership of the Istanbul Bar Association on charges of ‘making propaganda for a terrorist organization’ and ‘publicly disseminating misleading information’ for having asked for an investigation into the murders of two Kurdish journalists in Syria, and in the imprisonment of one of the members of the Istanbul Bar Association’s executive board following his trip to Strasbourg to hold meetings with Council of Europe institutions;

    10.  Is alarmed by the blatant lack of implementation of decisions by the Constitutional Court, including in the case of MP Can Atalay, which has turned into a serious judicial crisis, with the Court of Cassation filing a criminal complaint against nine judges of the Constitutional Court; is worried by the recent decision of the Court of Cassation to overturn the sentences of and release the terrorists involved in the ISIS attack at Istanbul’s Atatürk Airport, which claimed 45 lives in 2016;

    11.  Calls on Türkiye to strengthen its commitment to democratic governance, especially through reforms that ensure an independent judiciary; takes notes of the recent announcement of the Fourth Judicial Reform Strategy, spanning 2025-2029; calls on the Turkish Government to move from the superficial changes made so far through the recurrent reform packages and action plans to a profound and long overdue reform that will address, through real political will, the serious and structural shortcomings of Türkiye’s judiciary; stresses that putting an end to political interference in the judiciary requires no strategy or reform package but merely the political will to do so;

    12.  Remains deeply concerned by the continued deterioration of democratic standards and relentless crackdown by the Turkish authorities on any critical voices by means of a growing battery of repressive laws, the regular misuse of counterterrorism laws, including their application in relation to minors (as in the ‘Kız Çocukları Davası’ trial), the disproportionate use of the crime of insulting a public official, the extensive use of secret witnesses and dormant cases in flawed judicial proceedings, and the recurrent practice of exaggerated night arrests and home raids to portray targeted persons as extremely dangerous;

    13.  Welcomes the withdrawal in November 2024 of the draft amendment to Türkiye’s espionage laws, known as the ‘agent of influence’ law; urges the Turkish authorities to refrain from reintroducing a similar overly broad and vague law in the future, given the serious risk that it would be used as a tool to further criminalise the legitimate activities of civil society organisations within the country; calls on the Turkish authorities to ensure that the recently approved cybersecurity bill will serve its legitimate purpose of protecting data privacy and national security without giving way to potential infringements of fundamental rights or becoming another tool for further repression; stresses that the judicial apparatus remains heavily restrictive, with a complex web of legislation serving as a tool to systematically control and silence any critical voice, such as the 2020 social media law, the 2021 anti-money laundering law and the 2022 disinformation law;

    14.  Is concerned by the recent approval of legal provisions granting extraordinary powers to the State Supervisory Council (DDK) and the Savings Deposit Insurance Fund (TMSF), including the possibility for the former to dismiss public officials of all types and levels and appoint trustees, which could be used in an arbitrary manner;

    15.  Urges the Turkish authorities to put an end to the current serious restrictions on fundamental freedoms, in particular of expression, of assembly and of association, and to the constant attacks on the fundamental rights of members of the opposition, human rights defenders, lawyers, trade unionists, members of minorities, journalists, academics, artists and civil society activists, among others; strongly condemns the recent waves of mass arrest and imprisonment on politically motivated charges, and on the grounds of suspected terror links, affecting political figures, academics and journalists, including the arrests of Elif Akgül, independent journalist, Yıldız Tar, editor in chief of LGBT+ news site Kaos GL, Ender İmrek, columnist of Evrensel daily, and Joakim Medin, Swedish journalist for ETC, all well known for their work on human rights issues;

    16.  Strongly condemns the recent arrest and detention of the Swedish journalist Joakim Medin; reiterates that freedom of the press is a fundamental right and core EU value; strongly condemns the accusations made against Joakim Medin, which are solely based on his journalistic work and therefore demands his immediate and unconditional release and that of other journalists imprisoned for exercising their freedom of speech;

    17.  Deplores the continued prosecution, censorship and harassment of journalists and independent media, denying them the freedom to carry out their professional duties and inform the public, which is essential to a functioning democratic society; calls on the Turkish authorities to refrain from further attacks on independent media and to uphold fundamental rights and civil liberties such as freedom of speech and of the press; remains deeply concerned by the existing legislation that prevents an open and free internet, with lengthy prison sentences imposed for social media posts, scores of access blocks and content removal orders, and by the continued use of the Radio and Television Supreme Council (RTÜK) to crack down on media criticism and even on outlets deemed to spread ‘pessimism’ instead of positive news;

    18.  Acknowledges the positive developments in relation to the partial lifting by the minister of the interior of restrictions on the weekly vigils of the Saturday Mothers, Cumartesi Anneleri, in Istanbul’s Galatasaray Square, and the recent acquittal of all 46 people prosecuted for more than 6 years in the case surrounding the organisation’s 700th gathering in August 2018; calls for the complete removal of all restrictions on their peaceful protest, in full compliance with the relevant Constitutional Court ruling, and for an end to the ongoing judicial case against several of its members and sympathisers; is concerned by the ongoing trial against prominent human rights defender Nimet Tanrıkulu, who was released on 4 March 2025 after spending 94 days in pre-trial detention; urges the Turkish authorities to ensure the immediate release of all individuals detained for exercising their fundamental freedoms;

    19.  Continues to be appalled by the Turkish authorities’, in particular the Turkish judiciary’s, continuous disregard for and failure to apply landmark ECtHR rulings; reiterates its condemnation of Türkiye’s blatant misuse of the judicial system and the refusal to release from detention human rights defender Osman Kavala and opposition politicians Selahattin Demirtaş and Figen Yüksekdağ,for which Türkiye is facing historical infringement proceedings in the Council of Europe, with long-awaited consequences yet to be determined; is appalled by the recent filing and acceptance of a new indictment against Selahattin Demirtaş in which the Diyarbakır Chief Public Prosecutor’s Office asks for up to 15 years of imprisonment and a ban on his political activities on the basis of several speeches he made in 2016; calls on Türkiye to fully comply with the ECtHR judgements related to missing persons and properties (inter alia in the Fokas case) in Cyprus; deplores the politically motivated nature of these prosecutions, which form part of a broader pattern of judicial harassment; calls on Türkiye to fully implement all judgments of the ECtHR in line with Article 46 of the ECHR and in line with the unconditional obligations derived from Article 90 of the Turkish constitution; calls on the European Commission and Member States to use all diplomatic channels to urge Türkiye to implement relevant ECtHR rulings and consider implementing relevant funding conditionality in relation to compliance with ECtHR rulings;

    20.  Calls on Türkiye to respect the European Court of Human Rights decision of 24 January 2008, which found Türkiye guilty of breaching Article 2 of the European Convention on Human Rights, due to its failure to locate and prosecute those responsible in the case of the murders of Tassos Isaak and Solomos Solomou, which were committed in Cyprus in 1996; calls on the Turkish authorities to enforce the international arrest warrants against the murder suspects, and hand them over to the Republic of Cyprus;

    21.  Expresses its deep concern about the dire situation in Turkish prisons owing to severe overcrowding and poor living conditions, with reports, including by the Council of Europe, of torture and ill-treatment being widespread, and access to basic needs such as hygiene and information being severely limited; is particularly worried by the conditions of imprisonment of elderly and seriously ill prisoners, such as the case of Soydan Akay, who is being unjustly kept imprisoned; calls for his immediate release on humanitarian and health grounds; is concerned by the continued use of humiliating strip searches in prisons and other places of detention and by the persisting harassment of MP Ömer Faruk Gergerlioğlu, who is currently facing six proceedings for the removal of his parliamentary seat and immunity, among other reasons for his having denounced this very practice;

    22.  Strongly condemns the Turkish Government’s decision to dismiss, following the March 2024 local elections, the democratically elected mayors of at least 13 municipalities and districts (Hakkari, Mardin, Batman, Halfeti, Tunceli, Bahçesaray, Akdeniz, Siirt, Van and Kağızman, won by the DEM Party; and Esenyurt Ovacık and Şişli, won by CHP Party) and to replace them with government trustees appointed by the interior ministry; regards this long-standing practice of appointing trustees as a blatant attack on the most basic principles of local democracy; urges the Turkish authorities to immediately cease and reverse repression of political opposition and to respect the rights of voters to elect their chosen representatives in line with the recommendations of the Congress of Local and Regional Authorities of the Council of Europe and the Venice Commission; reiterates its call on the VP/HR to consider restrictive measures under the EU Global Human Rights Sanctions Regime against Turkish officials assuming the role of trustee and those appointing them; denounces the severe repression of protests against the removal of elected mayors, including the arbitrary arrest of hundreds of protesters, some of whom were minors; regards the decision of the Turkish Government to return to this practice after the last local elections of March 2024 as a clear sign of its lack of commitment to addressing the democratic shortcomings within the country and in clear contradiction to the declared willingness to revitalise the accession process, as such actions undermine the prospects for a stronger, more comprehensive partnership with the EU and are detrimental to long-term progress towards closer cooperation;

    23.  Deplores the permanent targeting of political parties and members of the opposition, who continue to suffer increasing pressure; condemns in the strongest terms the recent arrest and removal from office of the Istanbul Metropolitan Municipality CHP Mayor Ekrem İmamoğlu, along with the mayors of Şişli and Beylikdüzü, in the framework of two separate investigations on alleged corruption and terrorist-related charges involving a total of 106 suspects; highlights that these last cases, which are part of a long list of 42 administrative and 51 judicial investigations since İmamoğlu’s election in 2019, were launched just a few days before the internal party election to nominate him presidential candidate and the day after the controverted decision by Istanbul University to revoke his diploma, a requisite for his eligibility to be President; is appalled by the decision to temporarily ban all demonstrations in Istanbul and other provinces across the country, and the slowdown on social media; condemns the Turkish authorities’ harsh crackdown on the peaceful mass protests, including the detention of nearly 2000 people, many of them students, and the prosecution of hundreds of them through hasty mass trials with a lack of any evidence of criminal wrongdoing; expresses its deep concern over the unlawful arrest of Esila Ayık, a Ghent-based photography student detained on 8 April 2025 during protests in Istanbul, particularly owing to her untreated heart and kidney conditions; calls for the immediate release of all those still in detention and the acquittal of all those prosecuted for exercising their fundamental rights; deplores the arrests, detentions and deportations of local and international journalists covering the protests, in violation of the freedom of the press; urges the Turkish authorities to promptly and effectively investigate all allegations of harassment and excessive use of force against protesters and to uphold the freedom of assembly and protest; considers that the attacks against İmamoğlu constitute a politically motivated move aimed at preventing a legitimate challenger from standing in the upcoming elections and that with these actions the current Turkish authorities are further pushing the country towards a fully authoritarian model; regrets the EU’s lack of a strong, unified response to these alarming developments;

    24.  Further expresses its concern about the recent separate cases against Istanbul’s Beşiktaş district CHP Mayor Rıza Akpolat, Istanbul’s Beykoz district CHP Mayor Alaattin Köseler, CHP Youth Branch Chair Cem Aydın, and Zafer Party Chair Ümit Özdag; is appalled by the brutal and relentless crackdown on any kind of criticism to which all sectors of Turkish society have recently been subjected by the Turkish authorities, as illustrated, among others, by the case of Ayşe Barım, a well-known talent manager imprisoned since 27 January 2025 for alleged involvement in the Gezi Park protest 12 years ago, the investigation launched against Orhan Turan and Ömer Aras, the president and an executive of TÜSIAD, the country’s main business group, and the indictment, with the aim of imposing hefty prison sentences, of Halk TV Editor-in-Chief Suat Toktaş and journalists Seda Selek, Barış Pehlivan, Serhan Asker and Kürşad Oğuz, who have been provisionally acquitted; is concerned by the involvement in these and other cases of recently appointed Istanbul Chief Public Prosecutor Akın Gürlek, who has a long record of involvement, in different positions, in high-profile cases against political figures, and which may give grounds for considering the application of restrictive measures under the EU Human Rights sanction regime; is also concerned by the growing financial pressure on opposition municipalities and controversial announcements, such as that made in relation to day-care centres run by opposition municipalities;

    25.  Expresses its deep concern at the deterioration in women’s rights, at gender-based violence and at the increase in the incidence of femicide in Türkiye in 2024, which has been the highest since 2010, the year before the signing of the Istanbul Convention; reiterates its strong condemnation of Türkiye’s withdrawal, by presidential decree, from this international agreement and reiterates its call to reverse this decision; urges the Turkish authorities to improve the legislative framework and its implementation, including by fully applying Protection Law no. 6284, in order to effectively tackle all forms of violence against women and the practice of so-called ‘honour killings’, end the persistent policy of impunity by holding abusers to account, and advance towards gender equality, particularly with regard to the participation of women in decision-making and policymaking processes; warns against further encroachments on women’s rights, as exemplified by Türkiye’s recent ban on elective caesarean sections at private medical centres without medical justification, which constitutes an unacceptable infringement on women’s bodily autonomy;

    26.  Strongly condemns the ongoing violations and lack of protection of the fundamental rights of LGBTI+ persons in Türkiye, including the increased incidence of hate speech, hate crimes and discriminatory rhetoric, as well as continued media stereotyping based on sexual orientation and gender identity; deplores the fact that this continued discrimination is often sanctioned by the authorities, as evidenced by the mass arrests made during the Pride March in 2023 and the banning of the march in 2024, while anti-LGBTI+ marches were permitted; urges the Turkish authorities to stop banning activities against homophobia, including Pride marches, with immediate effect;

    27.  Welcomes the increased dialogue with Christian minorities, but stresses that no significant progress has been registered with regard to the protection of the rights of ethnic and religious minorities, in particular as regards their legal personality, including those of the Greek Orthodox population of the islands of Gökçeada (Imvros) and Bozcaada (Tenedos); calls for Türkiye to implement the Venice Commission recommendations and all relevant ECtHR rulings in this regard; notes with concern that representatives of different confessions, including non-Muslim and Alevi communities, continue to face bureaucratic obstacles when attempting to register places of worship; highlights that this is a violation of the right to freedom of religion and belief; calls on Türkiye to adopt the long-awaited regulation on the election of board members in non-Muslim minority foundations controlling community hospitals; reiterates its call on Türkiye to respect the role of the Ecumenical Patriarchate for Orthodox Christians all over the world and to recognise its legal personality and the public use of the ecclesiastical title of Ecumenical Patriarch; calls on Türkiye to fully respect and protect the outstanding universal value of Hagia Sophia and the Chora museum, which are inscribed on UNESCO’s World Heritage List; notes with concern that Türkiye has still not implemented two decisions of the UNESCO World Heritage Committee of 2021 and 2023 regarding its obligations to undertake special measures to protect these monuments; deplores the lack of protection of Panagia Soumela Monastery, which has been put forward for inclusion in the UNESCO World Heritage Monuments list; stresses the need to eliminate restrictions on the training, appointment and succession of clergy; welcomes the envisaged reopening of the Halki Seminary and calls for the lifting of all obstacles to its proper functioning; calls on the Turkish authorities to effectively investigate and prosecute people responsible for any hate crimes, including hate speech, committed against minorities; condemns the antisemitic statements made in the media and by high-level officials following the Hamas terrorist attacks against Israel on 7 October 2023; notes that all of these practices against any religious minority are incompatible with EU values;

    28.  Welcomes Abdullah Öcalan’s recent call on the PKK to lay down arms and dissolve, and to engage in a peace process, as a historic and long-awaited step that could help end a period of 40 years of violence that has caused more than 40 000 deaths; praises the efforts made by all stakeholders involved to facilitate these developments, including the constructive approach of different political leaders that was started by MHP leader Devlet Bahçeli, the visits to Imrali prison granted to a delegation of the DEM Party, and the broad consultations that this party has led with other political parties; underlines that this represents a significant opportunity and must be followed by an inclusive political process, with a prominent role for the Turkish Parliament, aimed at the peaceful and sustainable resolution of the Kurdish issue in its political, social, democratic and security-related aspects; stresses the need to uphold human rights, political pluralism, and civil rights for all citizens, including Kurds; regrets the continued political repression, judicial harassment and restrictions on cultural and linguistic rights faced by Kurdish citizens, which undermine democratic principles and social cohesion;

    Regional cooperation and good neighbourly relations

    29.  Continues to commend Türkiye for hosting around 3,1 million refugees, including 2,9 million Syrians under temporary protection in 2024, down from 3,2 million in 2023; reiterates the importance of Türkiye’s collaboration for the effective and orderly management of migration flows; further welcomes the fact that since 2011 the EU has contributed close to EUR 10 billion to assist Türkiye in hosting refugees; notes that some EU funding has been allocated to strengthening Turkish border control and containment capabilities; welcomes the EU’s decision to allocate an additional EUR 1 billion in December 2024 to further support the healthcare, education, and integration of refugees in Türkiye since the fall of the Assad regime; at the same time, notes that these funds had already been pledged in May 2024, and therefore do not constitute new funds; calls on the Commission to ensure utmost transparency and accuracy in the allocation of funds and that EU-funded projects, particularly those related to removal centres and border control, comply with all relevant human rights standards; is alarmed by credible reports uncovering grave human rights violations at EU-funded removal centres in Türkiye and calls on the Commission to launch a transparent and independent review into the matter; notes with concern that a continuing increase in asylum applications has been registered in the Republic of Cyprus over recent years; recalls Türkiye’s obligation to take all necessary measures to halt the existing illegal migration routes and prevent the creation of new sea or land routes for illegal migration from Türkiye to the EU, particularly to Greece and the Republic of Cyprus; points out the risks related to any possible instrumentalisation of migrants by the Turkish Government; underlines the need to ensure the protection of all refugees’ and migrants’ rights and freedoms; calls on Türkiye to ensure the full and non-discriminatory implementation of the EU-Turkey Statement of 2016 and the EU-Türkiye Readmission Agreement vis-à-vis all Member States, including the Republic of Cyprus; expresses cautious hope that developments in Syria will gradually allow an increasing number of refugees to return home; reiterates that returns should only be carried out on a voluntary basis and under conditions of safety and dignity; condemns repeated violent attacks against refugees and migrants fuelled by xenophobic rhetoric among politicians and host communities; calls on the European Commission and the EU Member States to increase their efforts to preserve humanitarian and protection space for Syrian refugees in Türkiye and to uphold the principle of non-refoulement as a cornerstone of EU policies;

    30.  Reiterates its strong interest in stability and security in the Eastern Mediterranean; welcomes the continued de-escalation and positive momentum in the region and the recent climate of re-engagement between Türkiye and Greece, albeit that unresolved issues continue to affect bilateral relations; deplores the fact that Türkiye continues to violate the sovereignty and sovereign rights of EU Member States, such as Greece and the Republic of Cyprus, including through the promotion of the Blue Homeland doctrine; underlines that, although Turkish violations of Greek airspace have drastically decreased, violations of Greek territorial waters have risen compared to 2023, and systematic illegal fishing activities have been conducted by Turkish vessels within Greek territorial waters; expresses its deep concern that Türkiye continues to uphold a formal threat of war against Greece (casus belli), should the latter exercise its lawful right to extend its territorial waters up to 12 nautical miles into the Aegean Sea, in accordance with Article 3 of the United Nations Convention on the Law of the Sea; calls on Türkiye to fully respect the sovereignty of all EU Member States over their territorial sea and airspace, and their other sovereign rights, including the right to explore and exploit natural resources in accordance with EU and international law, including the United Nations Convention on the Law of the Sea (UNCLOS), which is part of the EU acquis; reiterates its view that the memorandum of understanding between Türkiye and Libya on delimitation of the maritime jurisdiction areas in the Mediterranean infringes upon the sovereign rights of third States, does not comply with the Law of the Sea and cannot produce any legal consequences for third States;

    31.  Regrets the fact that the Cyprus problem remains unresolved, and calls for serious reengagement and the political will of all parties involved to bring about peaceful UN-led negotiations, with a view to achieving real progress in the Cyprus settlement talks; welcomes the resumption of informal talks under the auspices of the UN Secretary-General on 18 and 19 March 2025, which were held in a constructive atmosphere in which both sides showed a clear commitment to making progress and continuing dialogue; welcomes the agreement between both sides on opening four crossing points, demining, establishing a youth affairs committee and launching environmental and solar energy projects, as part of a new set of confidence-building measures; encourages all sides to use this momentum to move towards the resumption of negotiations;

    32.  Strongly reaffirms its view that the only solution to the Cyprus problem is a fair, comprehensive, viable and democratic settlement, including of its external aspects, within the agreed UN framework, on the basis of a bi-communal, bi-zonal federation with a single international legal personality, single sovereignty, single citizenship and political equality, as set out in the relevant UN Security Council resolutions, the agreed areas of convergence and the Framework of the UN Secretary General, as well as in accordance with international law and the principles and values on which the Union is founded; strongly condemns Türkiye’s attempts to upgrade the secessionist entity’s status in occupied Cyprus, including via the Organisation of Turkic States, and calls on all states to respect Cyprus’ sovereignty according to UNSC resolutions; calls, as a matter of urgency, for the resumption of negotiations on the reunification of Cyprus under the auspices of the UN Secretary-General as soon as possible, from the point at which they were interrupted in Crans-Montana in 2017; calls on Türkiye to abandon the unacceptable proposal for a two-state solution in Cyprus and to return to the agreed basis for a solution and the UN framework; further calls on Türkiye to withdraw its troops from Cyprus and refrain from any unilateral action which would entrench the permanent division of the island and from action altering the demographic balance;

    33.  Calls on Türkiye to respect the status of the buffer zone and the mandate of the UN Peacekeeping Force in Cyprus (UNFICYP); reiterates its call for cooperation among the Republic of Cyprus, Türkiye, the United Kingdom and the UN to implement concrete measures for a demilitarisation of the buffer zone, and to improve security on the island; urges Türkiye and the Turkish Cypriot leadership to reverse all unilateral actions and violations within and in the vicinity of the buffer zone and refrain from any further such actions and provocations; condemns the ongoing ‘opening’ of Varosha by Türkiye, as this negatively alters the situation on the ground, undermines mutual trust and negatively impacts the prospects for the resumption of direct talks on the comprehensive solution of the Cyprus problem; calls on Türkiye to reverse its illegal actions in violation of UN Security Council resolutions 550(1984) and 789(1992) on Varosha, which call on Türkiye to transfer the area of Varosha to its lawful inhabitants under the temporary administration of the UN, and to withdraw from Strovilia and facilitate the full implementation of the Pyla Understanding;

    34.  Reiterates its deep concern regarding all unilateral actions which aim at entrenching on the ground the permanent division of Cyprus as opposed to its reunification; condemns, in this context, the recent illegal visit of President Erdoğan to the occupied areas of the Republic of Cyprus, as well as his provocative statements, which jeopardise the efforts of the UN, the EU, the international community at large and other parties involved for the resumption of substantial negotiations in the agreed framework; regrets that such unilateral actions are tantamount to a direct illegitimate intervention against the interests of the Greek and Turkish Cypriot communities;

    35.  Reiterates its call on Türkiye to give the Turkish Cypriot community the necessary space to act in accordance with its role as a legitimate community of the island, which is a right guaranteed by the constitution of the Republic of Cyprus; reiterates its call on the Commission to step up its efforts to engage with the Turkish Cypriot community, with a view to facilitating the resolution of the Cyprus problem and recalling that its place is in the European Union; calls for all parties involved to demonstrate a more courageous approach to bringing the communities together; stresses the need for the EU body of law to be implemented across the entire island following a comprehensive resolution of the Cyprus problem;

    36.  Takes note of the significant work of the Committee on Missing Persons in Cyprus (CMP) and calls for improved access to occupied military zones by the Turkish army, access to its military archives and information as to the relocation of remains from former to subsequent burial sites; remains deeply concerned about the education and religious restrictions and impediments faced by the enclaved Greek Cypriots; calls on Türkiye to step up its cooperation with the Council of Europe and its relevant bodies and institutions, to address their key recommendations, to fully implement the European Convention of Human Rights with regard to respecting the freedom of religion and the freedom of opinion and expression, and the right to access and enjoy cultural heritage, and to stop the deliberate destruction of cultural and religious heritage; condemns the repeated attempts by Türkiye to intimidate and silence Turkish Cypriot journalists, trade unionists, human rights defenders and progressive citizens in the Turkish Cypriot community, thus violating their right to freedom of opinion and expression; calls on Türkiye to halt its proclaimed aggressive policy of the sale and exploitation of Greek Cypriot properties, a policy designed to create irreversible effects on the ground and which completely disregards the European Code of Human Rights ruling on this issue;

    37.  Regrets Türkiye’s continuing refusal to comply with aviation law and establish a channel of communication between air traffic control centres in Türkiye and the Republic of Cyprus, the absence of which entails real safety risks and dangers as identified by the European Union Aviation Safety Agency and the International Federation of Air Line Pilots’ Associations; regrets, too, its denial of access to vessels under the flag of one Member State to the Straits of Bosporus and the Dardanelles; takes the view that these could be areas where Türkiye can prove its commitment to confidence building measures and calls on Türkiye to collaborate by fully implementing EU aviation law; regrets that Türkiye has continued its attempts to impede the implementation of the Great Sea Interconnector, an EU project of common interest, and has persisted in its plans for an illegal electricity interconnector with the occupied area of Cyprus;

    38.  Regrets that for 20 years Türkiye has refused to implement the obligations assumed towards the EU, including those in relation to Cyprus, as per the Negotiating Framework of October 2005; stresses that recognition of all Member States is a necessary component of the accession process; reiterates its call on Türkiye to fulfil its obligation of full, non-discriminatory implementation of the Additional Protocol to the Ankara Agreement in relation to all Member States, including the Republic of Cyprus; further calls on Türkiye to ensure that the human and political rights of all Cypriots are fully respected and that compliance with the fundamental principles of the European Union and the European acquis is guaranteed;

    39.  Affirms its support for a free, secure and stable future for Syria and its citizens and highlights the need for an inclusive and peaceful political transition process that is Syrian-led and Syrian- owned, including the protection and inclusion of religious and ethnic communities; expresses its commitment to constructive cooperation between the EU and Türkiye to that end, on humanitarian aid, promoting a sustainable political solution in Syria, and the fight against DAESH, given that Türkiye has a key role in promoting stability in the region; recalls that Syria’s sovereignty must be restored; acknowledges the importance of rebuilding Syria’s economy as a pillar of long-term stability and prosperity for the region; calls on Türkiye to respect Syria’s territorial integrity and sovereignty and immediately cease all attacks and incursions on and occupation of Syrian territory in full compliance with international law; condemns the attacks carried out in recent weeks, taking advantage of the collapse of the Assad regime, by Turkish-backed militias against Syrian Kurdish forces in the north of Syria; expresses deep concern, as these attacks increase the number of internally displaced persons but also threaten the efficiency and continuity of the fight against Daesh; notes that its ongoing presence risks further destabilising and undermining efforts towards a sustainable political resolution in Syria; further notes that, citing security concerns, Türkiye also illegally occupies areas in Iraq; reiterates that civilian populations should never be the victim of military self-defence; calls for the necessary investigation into the cases in which there have been civilian casualties and to stop the crackdown on journalists working in the area; calls on Türkiye to support the process of implementing the agreement between the Syrian transitional government and the Kurdish-led SDF and refrain from any interference in Syria’s internal processes;

    40.  Supports the normalisation of relations between Armenia and Türkiye in the interests of reconciliation, good neighbourly relations, regional stability and security and socio-economic development, and welcomes the progress achieved so far; welcomes the continued efforts to restore links between the two countries; urges Türkiye to ensure the speedy implementation of agreements reached by the Turkish and Armenian Governments’ special representatives, such as the opening of the airspace and the border between the two countries for the third country nationals, and, subsequently, for holders of diplomatic passports; welcomes the temporary opening of the Margara-Alican border crossing between Armenia and Türkiye to facilitate the delivery of humanitarian aid to Syria; expresses the hope that these developments may give impetus to the normalisation of relations in the South Caucasus region, also in terms of security and socio-economic development, and stresses the EU’s interest in supporting this process; encourages Türkiye to play a constructive role in promoting regional stability by facilitating the swift conclusion of the peace process between Armenia and Azerbaijan, inter alia by exerting its influence on Azerbaijan and by deterring Azerbaijan from any further military action against Armenian sovereignty; encourages Türkiye once again to acknowledge the Armenian genocide in order to pave the way for genuine reconciliation between the Turkish and Armenian peoples and to fully respect its obligations to protect Armenian cultural heritage;

    41.  Notes that Türkiye’s stance in relation to Russia’s war of aggression against Ukraine continues to affect EU-Türkiye relations, as Türkiye attempts to maintain ties with both the West and Russia simultaneously; notes Türkiye’s diplomatic attempts to mediate between Russia and Ukraine, particularly regarding the Black Sea Grain Initiative, as well as its continued support for the territorial integrity and sovereignty of Ukraine, including its vote in favour of UN General Assembly resolutions condemning the Russian aggression against Ukraine; regrets that, on the other hand, trade between Türkiye and Russia has risen sharply since the start of the war in Ukraine, making Türkiye Russia’s second largest trading partner despite EU sanctions against Russia, and that Türkiye is the only NATO member state not having imposed any sanctions on Russia; further notes that the European Union’s anti-fraud office, OLAF, has initiated an investigation into a loophole that enables countries like Türkiye to rebrand sanctioned Russian oil and export it to the EU; welcomes, however, positive steps such as Türkiye’s blocking of exports to Russia for certain dual use goods, as well as products originating in the United States and the United Kingdom that are of benefit to Russian military action; reiterates its call on the Turkish Government to halt its plans for the Akkuyu Nuclear Power Plant, which will be built, operated and owned by Russia’s state atomic energy corporation, Rosatom; expresses concern at Türkiye’s ongoing discussions with Russia to establish a gas-trading hub in Istanbul, scheduled to begin operations in 2025;

    42.  Welcomes Türkiye’s participation in various crisis management missions and operations (within the framework of the common security and defence policy); regrets, however, the further deterioration in the level of alignment on common foreign and security policy positions, including on sanctions and countering the circumvention of sanctions, which has fallen to a historically low rate of 5 %, the lowest rate for any accession country; recalls that EU candidate countries are required to progressively align with the common foreign and security policy of the European Union and comply with international law; regrets that Türkiye has not undertaken any steps in this regard, notably by failing to align with EU sanctions against Russia, and that in many areas of mutual interest the foreign policies of the EU and Türkiye are worryingly divergent; urges Türkiye to align with and fully implement the EU sanctions against Russia, including on anti-circumvention measures and to cooperate closely with the EU’s Sanctions Envoy;

    43.  Stresses the importance of reinforcing EU-Türkiye cooperation in global security matters, particularly in light of the changing geopolitical landscape and potential shifts in US foreign policy; expresses cautious hope that recent informal engagement, such as the participation of the Turkish Foreign Minister in the informal meeting of EU foreign affairs ministers in 2024, may provide an impetus towards better relations; acknowledges Türkiye’s key role as an ally in NATO and welcomes the Turkish Parliament’s decision to ratify Sweden’s NATO accession in January 2024; recalls, in this regard, that Türkiye has a key responsibility to foster stability at both regional and global levels and is expected to act in line with its NATO obligations, especially given the current geopolitical upheavals; encourages constructive engagement in a more structured and frequent political dialogue on foreign, security and defence policy to seek collaboration on convergent interests while working to reduce divergences, particularly with regard to removing persistent obstacles to the enhancement of a genuine relationship between the EU and NATO, including the acquisition from Russia of the S-400 air defence system; remains duly concerned that Türkiye continues to exclude a Member State from cooperation with NATO;

    44.  Welcomes Türkiye’s long-standing position in favour of a two-state solution for the Israeli-Palestinian conflict, its calls for a ceasefire in the Israel-Hamas war, and its ongoing efforts to supply humanitarian aid to Gaza throughout the conflict; deeply regrets, at the same time, the Turkish authorities’, including the President’s, active support for the EU-listed terror group Hamas and their stance on the attack against Israel on 7 October 2023, which the Turkish Government failed to condemn; points out that Türkiye’s open support for Hamas and its refusal to designate it a terrorist organisation is not compatible with the EU’s foreign and security policy; calls, therefore, for a revision of this position;

    45.  Notes with concern that Türkiye has asked to be a member of BRICS+ and been offered ‘partner country’ status, and is considering the same for the Shanghai Cooperation Organisation (SCO), where it holds the status of a dialogue partner; expresses serious concern over Türkiye’s increasing interest in an alternative partnership framework, which is fundamentally incompatible with the EU accession process; insists that Türkiye’s new status as a BRICS partner country must not affect Türkiye’s responsibilities within NATO; notes that Türkiye has been cultivating cooperation formats, partnerships and regional alliances beyond the EU; is concerned by Türkiye’s tendency to use this multi-vector approach to advance its interests without committing to a full-fledged cooperation with any of these alliances;

    46.  Remains concerned by the Turkish Government’s use of the Turkish diaspora as an instrument for occasional meddling in EU Member States’ domestic policies;

    Socio-economic and sustainability reforms

    47.  Welcomes Türkiye’s return to a more conventional economic and monetary policy, while maintaining robust growth and a moderate budget deficit; regrets, however, that the cost of this is yet again being borne by citizens in the form of higher interest rates; highlights that social vulnerabilities have increased, particularly among children and older people, primarily due to the absence of a comprehensive poverty reduction strategy and income inequalities; underlines the necessity for the Turkish authorities to implement comprehensive social protection measures, strengthen collective bargaining rights and ensure that economic reforms prioritise reducing inequality and creating decent work opportunities;

    48.  Regrets the fact that despite the progress observed in economic and monetary policies, other actions by the Turkish Government affecting the rule of law continue to undermine basic principles such as legal certainty, which impacts negatively on Türkiye’s potential capacity to receive investments; welcomes the removal of Türkiye from the grey list of the Financial Action Task Force (FATF) in June 2024, following significant progress in improving its anti-money laundering regime and combating the financing of terrorism;

    49.  Welcomes Türkiye’s increased investment activity in the green energy sector and calls on Türkiye to continue improving the compatibility of its energy policy with the EU acquis, exploiting Türkiye’s enormous potential in renewable energy; expresses concern about the lack of any significant progress on climate action, in particular owing to the absence of a comprehensive climate law, a domestic emissions trading system, and a long-term low-emission development strategy, which undermines its 2053 climate neutrality target; highlights the need for a robust legal framework and stricter enforcement mechanisms to safeguard environmental and natural resources; urges Türkiye to align its environmental policies with the EU acquis, including respecting natural habitats when conducting mining projects, and underlines the importance of Türkiye’s adherence to the Aarhus Convention; commends the work of environmental rights defenders in Türkiye and warns against the dire environmental impact of extensive government projects, such as the expansion of its copper mining activities in Mount Ida (Kaz Daglari);

    50.  Highlights the fact that Türkiye has taken steps to diversify energy supplies and increase its renewable energy share; notes that the country is the seventh largest LNG market and highlights its potential as a regional energy hub; takes note that Türkiye has subscribed to the global goals on energy efficiency and renewable energy capacity by 2030; calls on the Commission to take into account Türkiye’s potential as a regional energy hub in initiatives to increase the installed renewable capacity in the Mediterranean region and in the development of the New Pact for the Mediterranean, and calls for energy cooperation to be part of the common agenda;

    51.  Observes some improvements in labour market conditions and points out a number of pending critical challenges, such as informal employment, the gender gap, and income inequality; is worried about the low coverage of collective bargaining and the lack of recognition of trade union rights for certain public sector employees; believes that more efforts are needed to enhance social dialogue mechanisms and address emerging occupational safety challenges; recalls that trade union freedom and social dialogue are crucial to the development and prosperity of a pluralistic society; deplores, in this regard, the recent detentions of trade unionists including Remzi Çalişkan, vice-president of the DISK confederation, and president of Genel-Iş, who was released after a month in prison, Kemal Göksoy, President of the Mersin Branch of Genel-İş, who remains in prison, and Mehmet Türkmen, chair of the textile sector union BİRTEK SEN, who was detained on 14 February 2025;

    Wider EU-Türkiye relations

    52.  Reiterates its firm conviction that, beyond the currently frozen accession process, Türkiye is a country of strategic relevance, a key partner for the stability of the wider region and plays an important role in addressing security challenges, migration management, counterterrorism, and energy security; stresses the importance of maintaining constructive dialogue and deepening cooperation in areas of mutual strategic interest; points towards a number of policy areas for future engagement, whether it be the green transition, trade, energy, a modernised customs union and visa liberalisation, among others; recalls, however, that democratic backsliding and non-alignment with the CFSP are not conducive to significant progress being made in that regard; reaffirms that the EU is committed to pursuing the best possible relations with Türkiye, based on dialogue, respect and mutual trust, in line with international law and good neighbourly relations;

    53.  Stresses the importance of encouraging deeper partnership in all economic sectors, to the benefit of the EU and all of its Member States and Türkiye; notes in particular the importance of cooperation in the fields of energy, innovation, artificial intelligence, health, security and migration management, among others; in this regard, notes that various high-level dialogues (HLDs) were held recently, including the HLD on trade and the HLD on economy, as steps towards pragmatic forms of cooperation in areas of mutual importance; calls again for the resumption of all relevant HLDs and for the establishment of structured HLDs on sectoral cooperation, to address common challenges and explore opportunities, on the condition that such cooperation must go hand-in-hand with clear and consistent conditionality grounded in respect for democratic principles, the rule of law and fundamental rights, as previously underlined in this resolution;

    54.  Stands ready to support an upgraded customs union with a broader, mutually beneficial scope, which could encompass a wide range of areas of common interest, including digitalisation, Green Deal alignment for green energy policies, public procurement, sustainable development commitments, and due diligence, contributing to the economic security of both sides; supports accompanying this upgraded customs union with an efficient and effective dispute settlement mechanism; underlines the fact that for Parliament to give its consent at the end of the process, such a modernisation would need to be based on strong conditionality related to human rights and fundamental freedoms, respect for international law and good neighbourly relations, including Türkiye’s full implementation of the Additional Protocol on extending the Ankara Agreement to all Member States without exception and in a non-discriminatory fashion;

    55.  Notes with deep regret that no progress has been made by Türkiye towards meeting the required benchmarks for visa liberalisation; reiterates its willingness to start the visa liberalisation process as soon as the Turkish authorities fully fulfil the six clearly outstanding benchmarks in a non-discriminatory manner vis-à-vis all EU Member states while aligning with EU visa policy; regrets that Turkish citizens are facing problems with visa requests/applications to EU Member States owing to a marked increase in demand and fears of abuse of the system; recognises, however, the political commitment to improving access to visas and calls for intensified efforts on both sides to address the remaining technical and administrative barriers; calls on the EU Member States to increase the resources allocated to this matter; supports measures on visa facilitation, particularly with regard to business activities and Erasmus students; deeply regrets the constant attempts by the Turkish authorities to blame the EU for not making progress on this dossier, while not taking any necessary steps to comply with the remaining benchmarks; reminds Türkiye that the lack of tangible and cumulative progress on the pending conditions has a direct impact on business activities and Erasmus students; appreciates the invaluable contribution of Erasmus+ exchanges in providing rich cross-cultural educational opportunities; regrets, however, the poor oversight on the part of the Commission, exemplified by the Erasmus partnership with Gaziantep Islam Science and Technology University, whose leadership publicly expressed support for terrorist acts; calls on the Commission to ensure that partner universities respect the EU Charter of Fundamental Rights by conducting ex ante verifications and regular controls;

    The way forward for EU-Türkiye relations

    56.  Considers, in view of the above, that the Turkish Government has failed to take the necessary steps to address the existing fundamental democratic shortcomings within the country and therefore reiterates its view that Türkiye’s EU accession process cannot be resumed in the current circumstances, despite the democratic and pro-European aspirations of a large part of Turkish society; recalls that, as in the case of any other candidate, the accession process is contingent on full compliance with the Copenhagen criteria and on the normalisation of relations with all EU Member States;

    57.  Urges the Turkish Government and the EU institutions and Member States to continue working, beyond the currently frozen accession process, on the basis of the relevant Council and European Council conclusions and the established conditionality, towards a closer, more dynamic and strategic partnership with particular emphasis on climate action, energy security, counter-terrorism cooperation and regional stability; insists on the need to begin a process of reflection on how this new constructive and progressive framework for EU-Türkiye relations can encompass the interests of all parties involved, for example by modernising and enhancing the current Association Agreement; underlines that such a positive process must be based on and matched by tangible progress in Türkiye as regards CFSP alignment, democracy, the rule of law and respect for fundamental values;

    58.  Considers the joint communication of 29 November 2023 on the state of play of EU-Türkiye relations a good basis on which to move forward in the overall relations between the EU and Türkiye; regrets the lack of a clear political endorsement of this joint communication so far by the Council; reiterates that recognition of all EU Member States is a necessary component of any agreement between the EU and Türkiye; stresses that Türkiye’s constructive engagement, including in relation to the Cyprus problem, remains key to advancing closer cooperation between the EU and Türkiye;

    59.  Warns, nevertheless, that a further drift towards authoritarianism by the Turkish authorities, such as we have been witnessing recently, will ultimately have a severe impact on all dimensions of EU-Türkiye relations, including trade and security cooperation, as it prevents the trust and reliability needed between partners and antagonises both sides in the current geopolitical scene;

    60.  Continues to acknowledge and commend the democratic and pro-European aspirations of the majority of Turkish society (particularly among Turkish youth), whom the EU will not forsake; regards these aspirations as a major reason for keeping Türkiye’s accession process alive; calls therefore on the Commission to uphold and increase its political and financial support to the vibrant and pro-democratic civil society in Türkiye, whose efforts can contribute to generating the political will necessary for deepening EU-Türkiye relations; highlights, nevertheless, that the resumption of the accession process depends on the unwavering political will of Türkiye’s authorities and society to become a full-fledged democracy, which cannot be forced upon it by the EU;

    61.  Reiterates its call to strengthen and deepen mutual knowledge and understanding between our societies, promoting cultural growth, socio-cultural exchanges and combating all manifestations of social, religious, ethnic or cultural prejudice; encourages Türkiye and the EU to promote shared values, particularly by supporting young people; reiterates its utmost commitment to sustaining and increasing support for Türkiye’s independent civil society;

    o
    o   o

    62.  Instructs its President to forward this resolution to the President of the European Council, the Council and the Commission; asks that this resolution be translated into Turkish and forwarded to the President, Government and Parliament of the Republic of Türkiye.

    (1) OJ L 134, 7.5.2014, p. 3, ELI: http://data.europa.eu/eli/agree_internation/2014/252/oj.
    (2) OJ C, C/2024/1760, 22.3.2024, ELI: http://data.europa.eu/eli/C/2024/1760/oj.
    (3) OJ C 493, 27.12.2022, p. 2.
    (4) OJ C 425, 20.10.2021, p. 143.
    (5) OJ C, C/2024/6746, 26.11.2024, ELI: http://data.europa.eu/eli/C/2024/6746/oj.
    (6) OJ C 328, 6.9.2016, p. 2.
    (7) OJ C 465, 6.12.2022, p. 112.
    (8) OJ C, C/2025/206, 14.1.2025, ELI: http://data.europa.eu/eli/C/2025/206/oj.
    (9) Texts adopted, P10_TA(2025)0016.

    MIL OSI Europe News

  • MIL-OSI Europe: Text adopted – Discharge 2023: Joint Undertakings – P10_TA(2025)0089 – Wednesday, 7 May 2025 – Strasbourg

    Source: European Parliament

    Texts adopted
     296k  91k
    Wednesday, 7 May 2025 – Strasbourg
    Discharge 2023: Joint Undertakings

    1. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Clean Aviation Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Clean Aviation Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Clean Aviation Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Clean Aviation Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    2. European Parliament decision of 7 May 2025 on the closure of the accounts of the Clean Aviation Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Clean Aviation Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Clean Aviation Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Clean Aviation Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    3. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Circular Bio-based Europe Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Circular Bio-based Europe Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Circular Bio-based Europe Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Circular Bio-based Europe Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    4. European Parliament decision of 7 May 2025 on the closure of the accounts of the Circular Bio-based Europe Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Circular Bio-based Europe Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Circular Bio-based Europe Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Circular Bio-based Europe Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    5. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Clean Hydrogen Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Clean Hydrogen Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Clean Hydrogen Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Clean Hydrogen Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    6. European Parliament decision of 7 May 2025 on the closure of the accounts of the Clean Hydrogen Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Clean Hydrogen Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Clean Hydrogen Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Clean Hydrogen Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    7. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Europe’s Rail Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Europe’s Rail Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Europe’s Rail Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Europe’s Rail Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    8. European Parliament decision of 7 May 2025 on the closure of the accounts of the Europe’s Rail Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Europe’s Rail Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast)(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Europe’s Rail Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Europe’s Rail Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    9. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the European High Performance Computing Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the European High Performance Computing Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast)(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/1173 of 13 July 2021 on establishing the European High Performance Computing Joint Undertaking and repealing Regulation (EU) 2018/1488(5), and in particular Article 19 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the European High Performance Computing Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the European High Performance Computing Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 256, 19.7.2021, p. 3, ELI: https://eur-lex.europa.eu/eli/reg/2021/1173/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    10. European Parliament decision of 7 May 2025 on the closure of the accounts of the European High Performance Computing Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the European High Performance Computing Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union (recast)(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/1173 of 13 July 2021 on establishing the European High Performance Computing Joint Undertaking and repealing Regulation (EU) 2018/1488(5), and in particular Article 19 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the European High Performance Computing Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the European High Performance Computing Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 256, 19.7.2021, p. 3, ELI: https://eur-lex.europa.eu/eli/reg/2021/1173/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    11. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the European Joint Undertaking for ITER and the Development of Fusion Energy for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the European Joint Undertaking for ITER and the Development of Fusion Energy for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Article 106a of the Treaty establishing the European Atomic Energy Community,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 70 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 70 thereof,

    –  having regard to Council Decision No 2007/198/Euratom of 27 March 2007 establishing the European Joint Undertaking for ITER and the Development of Fusion Energy and conferring advantages upon it(5), and in particular Article 5 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/715 of 18 December 2018 on the framework financial regulation for the bodies set up under the TFEU and Euratom Treaty and referred to in Article 70 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Director of the European Joint Undertaking for ITER and the Development of Fusion Energy discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Director of the European Joint Undertaking for ITER and the Development of Fusion Energy, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 90, 30.3.2007, p. 58, ELI: http://data.europa.eu/eli/dec/2007/198/oj.
    (6) OJ L 122, 10.5.2019, p. 1, ELI: http://data.europa.eu/eli/reg_del/2019/715/oj.

    12. European Parliament decision of 7 May 2025 on the closure of the accounts of the European Joint Undertaking for ITER and the Development of Fusion Energy for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the European Joint Undertaking for ITER and the Development of Fusion Energy for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Article 106a of the Treaty establishing the European Atomic Energy Community,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 70 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 70 thereof,

    –  having regard to Council Decision No 2007/198/Euratom of 27 March 2007 establishing the European Joint Undertaking for ITER and the Development of Fusion Energy and conferring advantages upon it(5), and in particular Article 5 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/715 of 18 December 2018 on the framework financial regulation for the bodies set up under the TFEU and Euratom Treaty and referred to in Article 70 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council,(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the European Joint Undertaking for ITER and the Development of Fusion Energy for the financial year 2023;

    2.  Instructs its President to forward this decision to the Director of the European Joint Undertaking for ITER and the Development of Fusion Energy, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 90, 30.3.2007, p. 58, ELI: http://data.europa.eu/eli/dec/2007/198/oj.
    (6) OJ L 122, 10.5.2019, p. 1, ELI: http://data.europa.eu/eli/reg_del/2019/715/oj.

    13. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Global Health EDCTP3 Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Global Health EDCTP3 Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Global Health EDCTP3 Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Global Health EDCTP3 Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    14. European Parliament decision of 7 May 2025 on the closure of the accounts of the Global Health EDCTP3 Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Global Health EDCTP3 Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Global Health EDCTP3 Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Global Health EDCTP3 Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    15. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Innovative Health Initiative Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Innovative Health Initiative Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Innovative Health Initiative Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Innovative Health Initiative Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    16. European Parliament decision of 7 May 2025 on the closure of the accounts of the Innovative Health Initiative Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Innovative Health Initiative Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Innovative Health Initiative Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Innovative Health Initiative Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    17. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Chips Joint Undertaking (before 21.9.2023 Key Digital Technologies Joint Undertaking) for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Chips Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regarding to Council Regulation (EU) 2023/1782 of 25 July 2023 amending Regulation (EU) 2021/2085 establishing the Joint Undertakings under Horizon Europe, as regards the Chips Joint Undertaking,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Chips Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Chips Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    18. European Parliament decision of 7 May 2025 on the closure of the accounts of the Chips Joint Undertaking (before 21.9.2023 Key Digital Technologies Joint Undertaking) for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Chips Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regarding to Council Regulation (EU) 2023/1782 of 25 July 2023 amending Regulation (EU) 2021/2085 establishing the Joint Undertakings under Horizon Europe, as regards the Chips Joint Undertaking,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Chips Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Chips Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    19. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Single European Sky ATM Research 3 Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Single European Sky ATM Research 3 Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Single European Sky ATM Research 3 Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Single European Sky ATM Research 3 Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    20. European Parliament decision of 7 May 2025 on the closure of the accounts of the Single European Sky ATM Research 3 Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Single European Sky ATM Research 3 Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Single European Sky ATM Research 3 Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Single European Sky ATM Research 3 Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    21. European Parliament decision of 7 May 2025 on discharge in respect of the implementation of the budget of the Smart Networks and Services Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Smart Networks and Services Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Grants the Executive Director of the Smart Networks and Services Joint Undertaking discharge in respect of the implementation of the Joint Undertaking’s budget for the financial year 2023;

    2.  Sets out its observations in the resolution below;

    3.  Instructs its President to forward this decision and the resolution forming an integral part of it to the Executive Director of the Smart Networks and Services Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for their publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    22. European Parliament decision of 7 May 2025 on the closure of the accounts of the Smart Networks and Services Joint Undertaking for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to the final annual accounts of the Smart Networks and Services Joint Undertaking for the financial year 2023,

    –  having regard to the Court of Auditors’ annual report on the EU Joint Undertakings for the financial year 2023, together with the Joint Undertakings’ replies(1),

    –  having regard to the statement of assurance(2) as to the reliability of the accounts and the legality and regularity of the underlying transactions provided by the Court of Auditors for the financial year 2023, pursuant to Article 287 of the Treaty on the Functioning of the European Union,

    –  having regard to the Council’s recommendation of 17 February 2025 on discharge to be given to the Joint Undertaking in respect of the implementation of the budget for the financial year 2023 (05757/2025 – C10‑0025/2025),

    –  having regard to Article 319 of the Treaty on the Functioning of the European Union,

    –  having regard to Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012(3), and in particular Article 71 thereof,

    –  having regard to Regulation (EU, Euratom) 2024/2509 of the European Parliament and of the Council of 23 September 2024 on the financial rules applicable to the general budget of the Union(4), and in particular Article 71 thereof,

    –  having regard to Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(5), and in particular Article 26 thereof,

    –  having regard to Commission Delegated Regulation (EU) 2019/887 of 13 March 2019 on the model financial regulation for public-private partnership bodies referred to in Article 71 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(6),

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    1.  Approves the closure of the accounts of the Smart Networks and Services Joint Undertaking for the financial year 2023;

    2.  Instructs its President to forward this decision to the Executive Director of the Smart Networks and Services Joint Undertaking, the Council, the Commission and the Court of Auditors, and to arrange for its publication in the Official Journal of the European Union (L series).

    (1) OJ C, C/2024/6841, 13.11.2024, ELI: http://data.europa.eu/eli/C/2024/6841/oj.
    (2) OJ C, C/2024/6041, 10.10.2024, ELI: http://data.europa.eu/eli/C/2024/6041/oj.
    (3) OJ L 193, 30.7.2018, p. 1, ELI: http://data.europa.eu/eli/reg/2018/1046/oj.
    (4) OJ L, 2024/2509, 26.9.2024, ELI: http://data.europa.eu/eli/reg/2024/2509/oj.
    (5) OJ L 427, 30.11.2021, p. 17, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (6) OJ L 142, 29.5.2019, p. 16, ELI: http://data.europa.eu/eli/reg_del/2019/887/oj.

    23. European Parliament resolution of 7 May 2025 with observations forming an integral part of the decisions on discharge in respect of the implementation of the budget of the EU joint undertakings for the financial year 2023 (2024/2031(DEC))

    The European Parliament,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Clean Aviation Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Circular Bio-based Europe Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Clean Hydrogen Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Europe’s Rail Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the European High Performance Computing Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the European Joint Undertaking for ITER and the Development of Fusion Energy for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Global Health EDCTP3 Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Innovative Health Initiative Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Chips Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Single European Sky ATM Research 3 Joint Undertaking for the financial year 2023,

    –  having regard to its decision on discharge in respect of the implementation of the budget of the Smart Networks and Services Joint Undertaking for the financial year 2023,

    –  having regard to Rule 102 of and Annex V to its Rules of Procedure,

    –  having regard to the opinion of the Committee on Transport and Tourism,

    –  having regard to the report of the Committee on Budgetary Control (A10-0056/2025),

    A.  whereas the Single European Sky ATM Research 3 Joint Undertaking, the Clean Aviation Joint Undertaking, the Innovative Health Initiative Joint Undertaking, the Clean Hydrogen Joint Undertaking, the Circular Bio-based Europe Joint Undertaking, the Europe’s Rail Joint Undertaking, the Smart Networks and Services Joint Undertaking and the Global Health EDCTP3 Joint Undertaking were set up by Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014(1), the latter being referred to as the Single Basic Act (SBA);

    B.  whereas the Key Digital Technologies Joint Undertaking was set up by Council Regulation (EU) 2021/2085 of 19 November 2021 establishing the Joint Undertakings under Horizon Europe and repealing Regulations (EC) No 219/2007, (EU) No 557/2014, (EU) No 558/2014, (EU) No 559/2014, (EU) No 560/2014, (EU) No 561/2014 and (EU) No 642/2014; whereas the Key Digital Technologies Joint Undertaking was transformed into the Chips Joint Undertaking in July 2023 pursuant to Council Regulation (EU) 2023/1782 of 25 July 2023 amending Regulation (EU) 2021/2085 establishing the Joint Undertakings under Horizon Europe, as regards the Chips Joint Undertaking(2);

    C.  whereas the European Joint Undertaking for ITER and the Development of Fusion Energy was established in April 2007 by the Council Decision of 27 March 2007 establishing the European Joint Undertaking for ITER and the Development of Fusion Energy and conferring advantages upon it (2007/198/Euratom)(3);

    D.  whereas the European High-Performance Computing Joint Undertaking was set up by Council Regulation (EU) 2021/1173 of 13 July 2021 on establishing the European High Performance Computing Joint Undertaking and repealing Regulation (EU) 2018/1488(4);

    E.  whereas the Single European Sky ATM Research 3 Joint Undertaking is a public-private partnership for the development of modernised air traffic management (ATM) in Europe and for the acceleration through research and innovation of the delivery of the Digital European Sky;

    F.  whereas the Clean Aviation Joint Undertaking is a public-private partnership focusing on research and innovation in order to transform aviation towards a sustainable and climate neutral future;

    G.  whereas the Innovative Health Initiative Joint Undertaking is a public-private partnership focusing on interdisciplinary, sustainable, and patient-centric health research and innovation;

    H.  whereas the Clean Hydrogen Joint Undertaking is a public-private partnership in the field of hydrogen and fuel cells technology research and innovation;

    I.  whereas the Chips Joint Undertaking is a public-private partnership focusing on research and innovation in key digital technologies essential for Europe’s competitive leadership in digital economy, in particular in the electronic components and systems sector;

    J.  whereas the Circular Bio-based Europe Joint Undertaking is a public-private partnership focusing on research and innovation for a sustainable and competitive circular bio-based industries sector;

    K.  whereas the Europe’s Rail Joint Undertaking is a public-private partnership for research and innovation in the railway sector;

    L.  whereas the European High-Performance Computing Joint Undertaking is a public-private partnership enabling the pooling of resources for the development and deployment of high-performance computing in Europe;

    M.  whereas the Smart Networks and Services Joint Undertaking is a public-private partnership focusing on strengthening Europe’s technological leadership and its strategic alignment with the telecommunications industry and fostering the uptake of digital solutions;

    N.  whereas the Global Health EDCTP3 Joint Undertaking is a public-private partnership focusing on reducing the socioeconomic burden of infectious diseases in sub-Saharan Africa thanks to new and improved health technological applications as well as improving the preparedness and response to infectious diseases for global purposes;

    O.  whereas the aim of the European Joint Undertaking for ITER and the Development of Fusion Energy is to provide the Union’s contribution to the ITER international fusion energy project, to implement the broader approach agreement between Euratom and Japan, and to prepare for the construction of a demonstration fusion reactor and related facilities;

    General

    1.  Notes that the role of the joint undertakings should be to support research and innovation activities in the areas of transport, energy, health, circular bio-based industries, key electronic components, supercomputing, and network systems; calls on the joint undertakings to promote the transformation of scientific knowledge into marketable innovations, and to establish mechanisms to ensure that their activity leads to an increase in European competitiveness in the world;

    2.  Underlines that under the current multiannual financial framework, according to the Court of Auditors (the ‘Court’), joint undertakings are expected to receive a combined budget of EUR 17 billion from the Union cash contribution and to leverage EUR 21,1 billion of contributions from other members;

    3.  Notes that the nature of joint undertakings is based on public-private partnerships that steer investment and leverage public and private funds to fund common goals; reminds, in that regard, that the contributions of private members must meet established targets in order for such partnerships to remain mutually beneficial; calls on joint undertakings which allow in-kind contributions to additional activities (IKAA) to avoid, where possible, an excessive reliance on such contributions in order to meet established targets;

    4.  Acknowledges the significant contributions of the joint undertakings in advancing research, innovation, and technology development across various sectors, including aviation, rail, and air traffic management, as integral to achieving the Union’s strategic objectives of sustainability, digital transformation, and competitiveness.

    5.  Welcomes the annual report of the Court on the European Union’s joint undertakings for the financial year 2023 (the ‘Court’s report’); underlines that the mission of the Court is crucial for the sound implementation of the Union budget and for oversight of the budget;

    6.  Welcomes the fact that the Court provided the discharge authority with an annual report on EU Joint Undertakings which contains a specific statement of assurance for each of the joint undertakings as regards their annual accounts and underlying transactions; shares the view that in addition to the legal provisions binding the Court, the institutional framework of joint undertakings renders these worthy of specific attention from the Court; calls for the continuation of this good practice; welcomes the good cooperation of joint undertakings with the Court during the drafting of the Court’s report and welcomes the explanations provided on some of the observations and emphases of matter made in the replies provided by the joint undertakings;

    7.  Welcomes the fact that two joint undertakings attained financial autonomy during the financial year 2023, namely the Smart Networks and Services Joint Undertaking on 24 October 2023 and the Global Health EDCTP3 Joint Undertaking on 23 November 2023; notes furthermore that as a result, the Court audited these two joint undertakings for the first time, in addition to the nine joint undertakings the Court had already audited for the financial year 2022;

    8.  Stresses its awareness that some joint undertakings were affected significantly during the financial year 2023 by important events with an impact likely to alter their performance; emphasises, more precisely, that:

       (a) Russia’s war of aggression against Ukraine has had a significant impact on the Union economy and on supply chains, affecting greatly the activities of some joint undertakings;
       (b) the aftermath of the COVID-19 pandemic is still felt throughout Europe today and during the financial year 2023, still constituted a massive shock to economic and administrative activities;
       (c) the high levels of inflation caused by the two aforementioned events had an impact on the supplies and delivery time for the joint undertakings;

    9.  Acknowledges the benefits of joint undertakings, the importance of public-private cooperation in fostering innovation, promoting research and development and the economic benefits of the partnerships; notes that by pooling resources and expertise from both sectors, public and private, joint undertakings can face the challenges more effectively; underlines the importance of transparency, accountability and efficient use of public funds by joint undertakings;

    10.  Recognises the value of initiatives fostering stakeholder engagement and participation, such as open calls for expressions of interest and joint calls across the joint undertakings, as instrumental in leveraging the collective expertise and resources; draws particular attention to the joint call for proposals launched by Europe’s Rail Joint Undertaking and the Single European Sky ATM Research 3 Joint Undertaking – the first joint call of its kind from joint undertakings aimed at developing an integrated air and rail network for a sustainable multimodal transport system;

    11.  Recalls that joint undertakings must conduct their operations according to sound financial management, thereby contributing effectively to Union policy objectives as well as to the sound implementation of the Union budget; nevertheless is concerned with a series of elements, in light of the findings of the Court, as presented in this resolution;

    Annual accounts

    12.  Notes that the Court’s report finds that the 2023 annual accounts of the eleven joint undertakings audited present fairly, in all material respects, their financial position as of 31 December 2023, the results of their operations and cash flows, and changes in net assets for the year ended, in accordance with their financial regulations and the accounting rules adopted by the Commission’s accounting officer; notes furthermore that as a result, the Court issued unqualified audit opinions on the reliability of the annual accounts of the joint undertakings;

    13.  Notes that the Court’s report finds that the underlying transactions to the annual accounts are legal and regular in all material respects; notes furthermore that as a result, the Court issued unqualified audit opinions on the legality and regularity of both the revenue and the payments underlying the accounts of the joint undertakings;

    14.  Takes note of the fact that, in the view of the Court, insufficient guidance was provided to the Smart Networks and Services Joint Undertaking and the Global Health EDCTP3 Joint Undertaking on their first-time annual accounts, especially as regards the need for clarity in distinguishing the financial resources managed by the Commission before they attained their financial autonomy and by the joint undertakings after they attained it; echoes the Court’s recommendation for action in this regard which recommends that accounting guidelines should be developed in a clear and comprehensible way which should specify the rules for the presentation of the first annual accounts of new joint undertakings and that these guidelines should include instructions on how to separate the financial resources implemented by the Commission from those implemented by a joint undertaking after it attained its financial autonomy; notes that the risk to the reliability of annual accounts was deemed to be low for all joint undertakings except for the Smart Networks and Services Joint Undertaking and the Global Health EDCTP3 Joint Undertaking, for which the risk to reliability was deemed to be medium, due to the complexities brought about by the transfer of budget appropriations and assets from the responsibility of the Commission to the responsibility of the joint undertaking;

    15.  Takes note of the fact that the annual accounts of the European Joint Undertaking for ITER and the Development of Fusion Energy are produced on the basis of the baseline of the ITER project in place in 2023 but that the latter is the subject of an ongoing revision, the result of which is likely to result in significant changes for the European Joint Undertaking for ITER and the Development of Fusion Energy and its estimated total cost at completion; underlines that the joint undertaking concerned should take all actions necessary to ensure that the future baseline and its consequences for the need for Union cash contributions to the joint undertaking do not constitute a liability for the Union budget; notes from the hearing of the joint undertaking concerned in the Committee on Budgetary Control that at the time of the hearing and according to the joint undertaking concerned, it was too early to provide an estimate of the financial impact of this revision; is furthermore concerned by the delays impacting the ITER project, due to factors beyond the joint undertaking’s control;

    16.  Is concerned by the potential impact that the reorganisation of the European Joint Undertaking for ITER and the Development of Fusion Energy will have on its activities, notably the short to medium-term instabilities and operational risks for the joint undertaking; welcomes the awareness of the joint undertaking concerned of these issues and the explanation provided on its views on the situation; welcomes the additional information provided during the hearing of the joint undertaking concerned in the Committee on Budgetary Control, notably as regards the fact that the risk for business continuity has so far been mitigated thanks to a strong reliance on existing programmes and projects; welcomes the flexibility brought along by the new matrix structure;

    17.  Takes note of the fact that the risk to the legality and regularity of revenue was deemed to be low for all joint undertakings;

    Budgetary and financial management

    18.  Notes that the total available budget in 2023 for the eleven joint undertakings audited by the Court amounted to EUR 4,25 billion in commitment appropriations and EUR 3,87 billion in payment appropriations, according to the Court, which considers that the total available budget includes unused appropriations from previous years, which the joint undertakings entered again in the budget of the current year and assigned revenues and reallocations to the next year; notes more precisely that:

       (a) the total available budget in 2023 for the Single European Sky ATM Research 3 Joint Undertaking amounted to EUR 111,2 million in commitment appropriations (compared to EUR 158,8 million in 2022) and EUR 241,5 million in payment appropriations (compared to EUR 146,9 million in 2022); understands furthermore that according to the report on budgetary and financial management of the Single European Sky ATM Research 3 Joint Undertaking, its total budget execution rate for the financial year 2023 reached 92 % for commitment appropriations and 81 % for payment appropriations, indicating that there were no severe issues related to the pace of implementation of the budget; nevertheless stresses the low execution rate of its payment appropriations dedicated to infrastructure and operating expenditure, which reached 55 %; notes the explanation of the joint undertaking and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget;
       (b) The total available budget in 2023 for the Clean Aviation Joint Undertaking amounted to EUR 269 million in commitment appropriations (compared to EUR 411,2 million in 2022) and EUR 486,4 million in payment appropriations (compared to EUR 415,3 million in 2022); understands furthermore that according to the report on budgetary and financial management of the Clean Aviation Joint Undertaking, its total budget execution rate for the financial year 2023 reached 98,58 % for commitment appropriations and 51,18 % for payment appropriations, indicating that there were serious issues related to the pace of implementation of the budget; notes in particular that the execution rates of its two operational expenditure titles stand at 80,50 % and 81,11 % respectively for payment appropriations; furthermore stresses the low execution rate of its payment appropriations dedicated to infrastructure expenditure, which reached 60,52 %; deeply regrets the important amount allocated to title 5 of its budget for unused payment appropriations of EUR 177 million, which has a technical execution rate of 0 %; notes the explanation of the joint undertaking and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget;
       (c) The total available budget in 2023 for the Innovative Health Initiative Joint Undertaking amounted to EUR 223,2 million in commitment appropriations (compared to EUR 272,4 million in 2022) and EUR 225,9 million in payment appropriations (compared to EUR 174,8 million in 2022); understands furthermore that according to the report on budgetary and financial management of the Innovative Health Initiative Joint Undertaking, its total budget execution rate for the financial year 2023 reached 92,65 % for commitment appropriations and 90,29 % for payment appropriations, indicating that there were no severe issues related to the pace of implementation of the budget; nevertheless stresses the low execution rates of its commitment and payment appropriations dedicated to infrastructure expenditure, which reached 68,67 % and 67,30 % respectively; notes the explanation of the joint undertaking and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget;
       (d) The total available budget in 2023 for the Clean Hydrogen Joint Undertaking amounted to EUR 268,9 million in commitment appropriations (compared to EUR 314,3 million in 2022) and EUR 327,8 million in payment appropriations (compared to EUR 118,3 million in 2022); understands furthermore that according to the report on budgetary and financial management of the Clean Hydrogen Joint Undertaking, its total budget execution rate for the financial year 2023 reached 96,62 % for commitment appropriations and 85,43 % for payment appropriations, indicating that there were no severe issues related to the pace of implementation of the budget; nevertheless stresses the low execution rate of payment appropriations dedicated to its operational expenditure financed under Horizon 2020 which reached 69,41 %; moreover stresses the low execution rate of its commitment and payment appropriations dedicated to infrastructure expenditure, which reached 71,21 % and 60,60 % respectively; notes the explanations of the joint undertaking and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget;
       (e) The total available budget in 2023 for the Chips Joint Undertaking amounted to EUR 835,7 million in commitment appropriations (compared to EUR 261,4 million in 2022) and EUR 518,4 million in payment appropriations (compared to EUR 222,2 million in 2022); understands furthermore that according to the report on budgetary and financial management of the Chips Joint Undertaking, its total budget execution rate for the financial year 2023 reached 100 % for commitment appropriations and 37 % for payment appropriations, indicating that there were serious issues related to the pace of implementation of the budget; in particular, stresses the extremely low execution rate of payment appropriations dedicated to operational expenditure, which reached 36 %; notes the explanation of the joint undertaking but deeply regrets such a low execution rate and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget; takes note of the fact that these elements, in relation to the increased funding that the Chips Joint Undertaking benefited from in 2023 and which the Chips Joint Undertaking had to implement, led the Court to consider the risk to budget management to be medium for this joint undertaking;
       (f) The total available budget in 2023 for the Circular Bio-based Europe Joint Undertaking amounted to EUR 227,4 million in commitment appropriations (compared to EUR 264,2 million in 2022) and EUR 137,4 million in payment appropriations (compared to EUR 80,3 million in 2022); understands furthermore that according to the report on budgetary and financial management of the Circular Bio-based Europe Joint Undertaking, its total budget execution rate for the financial year 2023 reached 97,6 % for commitment appropriations and 90,3 % for payment appropriations, indicating that there were no severe issues related to the pace of implementation of the budget; nevertheless stresses the low execution rates of commitment and payment appropriations for the part of its administrative expenditure dedicated to salaries, which reached 64 % and 57 % respectively, as well as the low execution rate of payment appropriations for the part of its administrative expenditure dedicated to other administrative expenditure, which reached 54 %; notes the explanation of the joint undertaking and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget;
       (g) The total available budget in 2023 for the Europe’s Rail Joint Undertaking amounted to EUR 102,6 million in commitment appropriations (compared to EUR 171,4 million in 2022) and EUR 120,3 million in payment appropriations (compared to EUR 180,8 million in 2022); understands furthermore that according to the report on budgetary and financial management of the Europe’s Rail Joint Undertaking, its total budget execution rate for the financial year 2023 reached 97 % for commitment appropriations and 82 % for payment appropriations, indicating that there were no severe issues related to the pace of implementation of the budget; nevertheless stresses the low execution rate of payment appropriations for the part of its operational expenditure financed under Horizon 2020, which reached 67 %; notes the explanation of the joint undertaking and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget; points out that Europe’s Rail Joint Undertaking postponed final payments to 2024 due to technical issues experienced by beneficiaries; takes notice of the several projects that did not fully claim their budgets, reducing the need for operational payments by approximately EUR 4,1 million; calls on the joint undertaking concerned to elaborate a plan on how to improve the accounting reporting obligations; highlights the importance of supporting the joint undertaking given rail’s inherent advantages in terms of environmental performance, land use, energy consumption, and safety;
       (h) The total available budget in 2023 for the European High-Performance Computing Joint Undertaking amounted to EUR 1136 million in commitment appropriations (compared to EUR 1374,5 million in 2022) and EUR 1058 million in payment appropriations (compared to EUR 629,9 million in 2022); understands furthermore that according to the report on budgetary and financial management of the European High-Performance Computing Joint Undertaking, its total budget execution rate for the financial year 2023 reached 83% for commitment appropriations and 19 % for payment appropriations, indicating that there were serious issues related to the pace of implementation of the budget; in particular, stresses the extremely low execution rate of payment appropriations dedicated to operational expenditure, which reached 19 %; notes the explanation of the joint undertaking but deeply regrets such a low execution rate; moreover stresses the low execution rate of its commitment and payment appropriations dedicated to administrative expenditure, which reached 45 % and 42 % respectively; notes the explanation of the joint undertaking and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget; takes note of the fact that these elements, in relation to the increased funding that the European High-Performance Computing Joint Undertaking benefited from in 2023 and which the European High-Performance Computing Joint Undertaking had to implement, led the Court to consider the risk to budget management to be medium for this joint undertaking; welcomes the additional information provided during the hearing of the joint undertaking concerned in the Committee on Budgetary Control on the reasons behind this slow execution rate;
       (i) The total available budget in 2023 for the Smart Networks and Services Joint Undertaking amounted to EUR 134,7 million in commitment appropriations and EUR 122,9 million in payment appropriations; understands furthermore that according to the report on budgetary and financial management of the Smart Networks and Services Joint Undertaking, its total budget execution rate for the financial year 2023 reached 99 % for commitment appropriations and 89 % for payment appropriations; deems that given the short period of time during which the joint undertaking had attained financial autonomy in the financial year 2023, there are no sufficient grounds on which the European Parliament could express its view on the quality of the financial management of the joint undertaking while doing so in good faith; nevertheless notes that due to this situation, the risk to the legality and regularity of administrative expenditure was deemed as medium for the joint undertaking;
       (j) The total available budget in 2023 for the Global Health EDCTP3 Joint Undertaking amounted to EUR 136,4 million in commitment appropriations and EUR 2,2 million in payment appropriations; understands furthermore that according to the report on budgetary and financial management of the Global Health EDCTP3 Joint Undertaking, its total budget execution rate for the financial year 2023 reached 100 % for commitment appropriations and 47 % for payment appropriations; deems that given the short period of time during which the joint undertaking had attained financial autonomy in the financial year 2023, there are no sufficient grounds on which the European Parliament could express its view on the quality of the financial management of the joint undertaking while doing so in good faith; nevertheless notes that due to this situation, the risk to the legality and regularity of administrative expenditure was deemed as medium for the joint undertaking;
       (k) The total available budget in 2023 for the European Joint Undertaking for ITER and the Development of Fusion Energy amounted to EUR 807 million in commitment appropriations (compared to EUR 981,2 million in 2022) and EUR 631,5 million in payment appropriations (compared to EUR 844 million in 2022); understands furthermore that according to the report on budgetary and financial management of the European Joint Undertaking for ITER and the Development of Fusion Energy, its total budget execution rate for the financial year 2023 reached 73 % for commitment appropriations and 95 % for payment appropriations, indicating that there were serious issues related to the pace of implementation of the budget; in particular, stresses the low execution rate of commitment appropriations dedicated to operational expenditure, which reached 70 %; notes the explanation of the joint undertaking and takes note of the resulting transfers made back to the initially planned Euratom and ITER Host State contributions and generally calls on the joint undertaking to ensure a healthy pace of implementation for each section of its budget; takes note of the fact that these elements, which are related to delays and implementation difficulties, led the Court to consider the risk to budget management to be medium for this joint undertaking;

    19.  Echoes the Court’s concerns as regards unused appropriations in the implementation of programmes of certain joint undertakings and calls on the joint undertakings concerned to avoid the reoccurrence of similar situations, as the accumulation of unused appropriations leads to cash surpluses, which are therefore not available to the Union for the financing of other activities and programmes; underlines that this is not in line with the principle of sound financial management and has resulted in a total of EUR 1,5 billion of cash surplus for the financial year 2023; echoes the Court’s recommendation for action in this regard which recommends that the joint undertakings concerned should develop corrective mechanisms to reduce their cash surpluses to a reasonable level and subsequently align their cash requests for each financial year with their estimated spending needs, in coordination with the Commission; is aware of possibilities under the financial rules of the joint undertakings concerned for unused appropriations to be entered in the estimate of revenue and expenditure of up to the three financial years following their reception; is nevertheless concerned more precisely with:

       (a) the shortcomings in the cash planning of the Clean Aviation Joint Undertaking, following the request for additional Union financial contributions of EUR 178 million in excess of cash needs for planned payment in 2023, resulting in a cash surplus of EUR 237 million at the end of 2023; takes note however of the explanation of the joint undertaking; nevertheless repeats its call for the Clean Aviation Joint Undertaking to avoid the reoccurrence of similar situations and welcomes the adjustments announced by the joint undertaking for 2024;
       (b) the shortcomings in the cash planning of the Chips Joint Undertaking, following the request for additional EU financial contributions of EUR 196 million in excess of cash needs for planned payment in 2023, resulting in a cash surplus of EUR 438 million at the end of 2023; takes note however of the explanation of the joint undertaking; nevertheless repeats its call for the Chips Joint Undertaking to avoid the reoccurrence of similar situations and welcomes the ambition announced by the joint undertaking for 2024;
       (c) the shortcomings in the cash planning of the European High-Performance Computing Joint Undertaking, following the request for additional Union financial contributions of EUR 488,6 million in excess of cash needs for planned payment in 2023, resulting in a cash surplus of EUR 840,7 million at the end of 2023; understands the situation faced by the joint undertaking which led to this surplus and welcomes the additional information provided during the hearing of the joint undertaking concerned in the Committee on Budgetary Control, notably as regards the expectations for projects related to Artificial Intelligence to provide an opportunity for an important cash-out; nevertheless repeats its call for the European High-Performance Computing Joint Undertaking to avoid the reoccurrence of similar situations;

    20.  Stresses that all joint undertakings shall strengthen internal financial controls and public transparency mechanisms, ensuring that funds are distributed efficiently and in a manner consistent with EU strategic objectives;

    21.  Echoes the Court’s concerns as regards the contribution of members to certain joint undertakings, in particular as regards the possibility that some joint undertakings could not meet their contribution targets or only do so through high reliance on in-kind contributions to additional activities and calls on the joint undertakings concerned to take all actions necessary to prevent these situations from arising in the future; underlines that meeting contribution targets is the responsibility and obligation of the concerned joint undertakings and that failing to meet contribution targets goes against the founding idea of joint undertakings; is concerned, more precisely, with:

       (a) the situation of the Single European Sky ATM Research 3 Joint Undertaking, whose operational contribution target of its member Eurocontrol only reached a level of 70 %, which resulted in the joint undertaking not having the planned contributions at its disposal to fully implement its part of Horizon 2020; takes notes of the fact that this element did not however lead the Court to consider the risk to programme implementation to be medium or high for this joint undertaking, as it was deemed to be low;
       (b) the situation of the Circular Bio-based Europe Joint Undertaking, which performed well in reaching its contribution target under Horizon 2020, however notably did so through a revision of the balance between the targets for in-kind contributions to operational activities and for in-kind contributions to additional activities, the latter being raised to EUR 2 444,5 million, which corresponds to 90 % of the overall target; underlines that such a reliance on in-kind contributions to additional activities presents a risk to the implementation of the Horizon 2020 programme; underlines the substantial impact of the revision performed by the joint undertaking; takes notes of the explanation of the joint undertaking and of the fact that additional activities contribute to the overall objectives of the joint undertaking; nevertheless stresses that this constitutes an excessive reliance on in-kind contribution to additional activities to meet established targets and calls on the joint undertaking to avoid the reoccurrence of such a situation; takes note of the fact that these elements led the Court to consider the risk to programme implementation to be high for this joint undertaking;
       (c) the situation of the European High-Performance Computing Joint Undertaking, whose contribution from private members under Horizon 2020 only reached a reported amount of EUR 18,4 million against a target of EUR 420 million, which constitutes a severe difference; notes furthermore that such a situation might occur again under Horizon Europe and Digital Europe as the contribution target for private members has increased significantly to EUR 900 million while the financing arrangements that caused difficulties for private members under Horizon 2020 remain in place; takes note of the fact that these elements led the Court to consider the risk to programme implementation to be high for this joint undertaking; understands from the additional information provided during the hearing of the joint undertaking concerned in the Committee on Budgetary Control that this issue is being dealt with in cooperation with the Governing Board; nevertheless echoes the Court’s recommendation for action in this regard which recommends that the European High-Performance Computing Joint Undertaking should support the Commission’s reassessment of the current target in order to ensure that it can attain its contribution target for private members under Horizon Europe and Digital Europe and stresses once again that reaching contribution targets should not simply be considered as an ambition but as a duty;

    22.  Underlines that to promote better efficiency, the Single Basic Act of the joint undertakings provides for an obligation for joint undertakings to achieve synergies via the establishment of back-office arrangements operating in a series of identified areas; understands that four areas have been identified as a priority by the joint undertakings concerned, namely accounting activities, legal activities, information and communication technologies and human resources; particularly welcomes in that regard:

       (a) the fact that the back-office arrangements dedicated to accounting activities have been operational since December 2022 and were therefore in operation for the entirety of financial year 2023, which could be observed in the production of the annual accounts as well as the fact that the Europe’s Rail Joint Undertaking took the lead in operating these back-office arrangements;
       (b) the fact that the Circular Bio-based Europe Joint Undertaking and the Innovative Health Initiative Joint Undertaking took the lead in operating back-office arrangements for the management of common recruitment, the legal framework of human resources and the digitalisation of human resources;
       (c) the fact that the Clean Hydrogen Joint Undertaking and the Innovative Health Initiative Joint Undertaking took the lead in operating back-office arrangements for the management of Information and Communication Technologies services;
       (d) the fact that the Clean Aviation Joint Undertaking, the Europe’s Rail Joint Undertaking and the European High-Performance Computing Joint Undertaking took the lead in operating back-office arrangements for the management of administrative procurements;
       (e) the fact that joint undertakings are further implementing the joint strategic ICT plan of the joint undertakings located in the White Atrium building;

    23.  Calls on the joint undertakings concerned by the obligation under the Single Basic Act to keep reporting on their establishment of back-office arrangements, to provide clear information on which joint undertakings operate tasks for other joint undertakings in certain areas, to include as soon as possible communication, logistics, events and meeting room management as well as the support for audit and anti-fraud strategies on the list of priorities and to provide information on the areas to be considered for the establishment of back-office arrangements in the future, once arrangements in the areas identified as a priority have been concluded;

    Procurement and tenders

    24.  Echoes the Court’s concerns as regards procurement procedures and calls on joint undertakings to ensure that the compliance with relevant legal provisions and the necessary complexity of certain procurement procedures do not lead to an increased risk to the legality and regularity of operational expenditure; is concerned, more precisely, by:

       (a) the situations of the Innovative Health Initiative Joint Undertaking and of the Chips Joint Undertaking, for both of which the Court observed weaknesses in the design and evaluation of one significant procurement procedure; takes notes of the fact that this element did not however lead the Court to consider the risk to operational control expenditure to be medium or high for this joint undertaking; nevertheless stresses the fact that such weaknesses may result in irregular contracts and payments if not addressed in future procurement procedures; welcomes the readiness of the joint undertakings to take action on these specific cases and to improve their procurement processes;
       (b) the fact that the Court has evaluated the risk to operational contract expenditure to be medium for the European High-Performance Computing Joint Undertaking and the European Joint Undertaking for ITER and the Development of Fusion Energy because of their complex procurement procedures for high-value contracts;

    25.  Underlines the financial exposure of the European High-Performance Computing Joint Undertaking to a supplier facing difficulties which is evaluated by the joint undertaking as ranging from a potential low impact of EUR 0 to an estimated maximum impact of EUR 88 million; understands from the annual accounts of the joint undertaking that this situation is being carefully scrutinised; calls on the joint undertaking to take all actions necessary to minimise financial liabilities; welcomes the additional information provided during the hearing of the joint undertaking concerned in the Committee on Budgetary Control, especially as regards the additional guarantees requested by the joint undertaking concerned to minimise this financial liability as well as the explanation provided on the key role of this specific supplier;

    26.  Takes note of the fact that the levels of detail and the level of accessibility vary when it comes to the quantitative data provided by the joint undertakings on the gender balance of experts selected to work with the joint undertakings; calls on all joint undertakings to increase transparency and to include clear quantitative data on gender balance among the experts selected in their future Annual Activity Reports; calls on all joint undertakings to intensify their efforts to promote gender equality at all levels and to ensure that gender balance remains a horizontal priority in all activities related to procurement, grants and tenders and to provide explanations when gender balance cannot be achieved;

    27.  Takes note of the fact that the levels of detail and the level of accessibility vary when it comes to the quantitative data provided by the joint undertakings on the geographical distribution of experts selected to work with the joint undertakings; calls on all joint undertakings to include clear quantitative data on the geographical distribution of the experts selected in their future Annual Activity Reports; calls on all joint undertakings to ensure that geographical distribution remains a horizontal priority in all activities related to procurement, grants and tenders and to provide explanations when sufficient geographical distribution cannot be achieved;

    28.   Calls for a fair and equitable geographical distribution of funding from the joint undertakings, ensuring that regions with lower innovation capacity and SMEs receive adequate support;

    Staff and recruitment

    29.  Is concerned with the state of play of recruitment within the European High-Performance Computing Joint Undertaking, which received 39 additional posts to be recruited by the end of the financial year 2023 in order to implement the significant funds received under the current multiannual financial framework but which only managed to recruit 21 additional staff; is furthermore concerned with the assessment of the Court which determined that the recruitment procedures of the joint undertakings were not sufficiently transparent due to a lack of clear and previously agreed upon scoring-grids to assess candidates and their qualifications as well as due to a lack of sufficient documentation on the underlying decision-making process; regrets that in the view of the Court, this situation may have resulted in a lack of equal treatment of candidates; reminds that it is paramount to avoid the application of double standards during the recruitment process and requests for all necessary actions to be taken in this regard; echoes the Court’s recommendation for action in this regard which recommends that the European High-Performance Computing Joint Undertaking should use its increased staff effectively to achieve its recruitment target by the end of 2024 and that, in order to increase the transparency of its recruitment procedures and to substantiate the decision-making processes of the selection committee, the European High-Performance Computing Joint Undertaking should use a pre-agreed scoring grid during the pre-selection phase, in line with the practice of other joint undertakings and Union bodies; welcomes the readiness of the joint undertaking to integrate recommendations for improvements;

    30.   Emphasises the need for a coherent and fair staffing policy across all Joint Undertakings to ensure adequate and inclusive working conditions, career development opportunities, and work-life balance for staff; calls for the implementation of measures to prevent excessive reliance on temporary contracts and precarious employment; underlines the importance of mental health support structures, flexible working arrangements, and fair internal promotion opportunities to improve staff well-being;

    31.  Calls on all joint undertakings to implement concrete measures to improve gender balance in leadership positions and decision-making bodies, including setting gender balance targets and regularly monitoring progress; stresses the need to address gender pay gaps and ensure equal opportunities for career advancement;

    32.  Takes note of the fact that the Court considered the risk to the legality and regularity of administrative expenditure to be low for all joint undertakings except for the Chips Joint Undertaking and the European High-Performance Computing Joint Undertaking for which it was deemed to be medium due to their high recruitment level, as well as for the Smart Networks and Services Joint Undertaking and the Global Health EDCTP3 Joint Undertaking, due to their recent financial autonomy;

    33.  Is concerned with the situation of the European Joint Undertaking for ITER and the Development of Fusion Energy as regards different aspects related to the management of human resources observed by the Court, especially as regards the use of external service providers, notably:

       (a) the important reliance of the joint undertaking on external service providers, as it was observed that near to half of the staff of the joint undertaking consisted of external service providers (361 external service providers and 429 statutory staff in 2023) which makes that situation a critical issue with a potential large-scale impact on the capacity of the joint undertaking to manage its human resources in a sustainable manner while ensuring a capacity for retention of knowledge and institutional memory, which also allow for financial gains in the long run;
       (b) the fact that the joint undertaking did not adopt a unique formal definition of external service providers, which resulted in a lack of clarity in its assessment of their impact on statutory staff needs; notes furthermore that the risk register of the joint undertaking did not include all the potential risks related to a high level of reliance on external service providers in the long term, which might prevent the internal control of the joint undertaking from having adequate mitigating measures put in place to address those risks;
       (c) the findings of the audit conducted on this matter by the Commission’s internal audit service which revealed that the joint undertaking had not set up a centralised function for the coordination and management of external service providers, nor had it set up a methodology for assessing its aggregate human resources needs, and in particular its needs for external service providers; underlines that it was observed that the joint undertaking’s decision on the use of external service providers was therefore based on budgetary concerns rather than human resources needs;
       (d) the lack of transparency in the reporting of the joint undertaking on its human resources; particularly as regards the presentation of permanent and non-permanent staff figures, given that 224 of the 386 temporary and contract staff had in reality an indefinite contract and could therefore have been considered as permanent staff from a practical point of view; calls on the joint undertaking to underline such nuances in the future in its reporting on human resources;
       (e) echoes the Court’s recommendation for action which recommends that the European Joint Undertaking for ITER and the Development of Fusion Energy should establish a centralised coordination and management function for external service providers and adopt a comprehensive methodology to regularly assess its total human resources needs based on the expected workload and required skills and that the joint undertaking concerned should also supplement its risk register with the most important risks deriving from its high level of use of external service providers in the long run;
       (f) welcomes the commitments made by the joint undertaking and welcomes its explanation of the challenges leading to an important use of external service providers; is nevertheless concerned with this important dependency and the related risks; calls on the joint undertaking to provide more detailed information in the future on the decision-making processes leading to the use of external service providers;

    34.  Takes note of the fact that the levels of detail and the level of accessibility vary when it comes to the quantitative data provided by the joint undertakings on the gender balance among their staff and within their governing bodies and structures in their Annual Activity Reports; calls on all joint undertakings to include a clear section dedicated to quantitative data on gender balance among their staff and within their governing bodies and structures in their future Annual Activity Reports, including the disaggregation of data between different levels of responsibility and different types of contract; calls on all joint undertakings to ensure that gender balance remains an objective at all levels of responsibility and to persist in their efforts to enhance it, in order to ensure a fair representation of society within their staff and to promote a healthy and productive working environment and to provide explanations when gender balance cannot be achieved;

    35.  Takes note of the fact that the levels of detail and the level of accessibility vary when it comes to the quantitative data provided by the joint undertakings on the geographical distribution within their staff and within their governing bodies and structures in their Annual Activity Reports; calls on all joint undertakings to include a clear section dedicated to quantitative data on geographical distribution among their staff and within their governing bodies and structures in their future Annual Activity Reports, including the disaggregation of data between different levels of responsibility and different types of contract; calls on all joint undertakings to ensure that a satisfactory geographical distribution remains an objective at all levels of responsibility and to provide explanations when a sufficient geographical distribution cannot be achieved;

    36.  Welcomes the work of the EU Agencies Network (EUAN) and its Working Group on Diversity and Inclusion which led to the EUAN Charter on Diversity and Inclusion; invites joint undertakings to adopt this Charter;

    37.   Underlines that joint undertakings shall ensure that funded projects contribute to social well-being and inclusivity, respect workers’ rights and labour conditions and align with the principles of a just transition to sustainable technologies;

    Management and control systems

    38.  Welcomes the work of the Court on the examination of grant payments made by the ten joint undertakings implementing research and innovation projects, especially as regards its complementary audit of a sample of grant payments at beneficiary level under Horizon 2020; is concerned with the results of this examination which showed that there were persistent systemic errors, especially as regards declared personnel and equipment costs; calls for correction of the systemic errors;

    39.  Underlines that the Court found one case of quantified and serious error in payments under Horizon 2020 for the Clean Aviation Joint Undertaking, the Innovative Health Initiative Joint Undertaking, the Clean Hydrogen Joint Undertaking, the Circular Bio-based Europe Joint Undertaking, as well as for the Europe’s Rail Joint Undertaking; welcomes the initiatives taken in this regard to raise awareness at beneficiary level; calls on all joint undertakings to ensure the legality and regularity of operational expenditure and underlines that the Court deemed the risk to the interim and final grant payments of the joint undertakings to be medium;

    40.   Calls on the Commission to implement: i) mandatory financial training for beneficiaries of the joint undertakings to prevent recurrent accounting errors; ii) automated verification tools to enhance accuracy in personnel cost calculations; iii) stronger ex-ante audit procedures to ensure proper use of Union funds;

    41.  Welcomes the fact that according to the extrapolation of the Court for all joint undertakings, the average error rate is just below the materiality threshold of 2% for grant expenditure, as well as the fact that the residual error rates calculated by the Commission’s common audit service were also below the materiality threshold;

    42.  Takes note of the fact that the number of Horizon Europe and Digital Europe interim payments was too small to feature in the sample audited by the Court in 2023;

    43.  Takes note of the fact that there were several changes to the internal control framework of joint undertakings under Horizon Europe, notably the fact that the Commission no longer intends to make specific representative ex-post audits on behalf of individual Horizon Europe stakeholders, such as joint undertakings; notes furthermore that the Commission plans to apply the same change to grant payments under Digital Europe;

    44.  Is concerned with the lack of communication, collaboration and coordination between the risk management of the European Joint Undertaking for ITER and the Development of Fusion Energy and its internal audit functions, as well as with the related lack of an integrated risk management process and the fact that the joint undertaking could not provide satisfactory evidence that it regularly uses risk management information when planning internal audit activities; echoes the Court’s recommendation for action in this regard which recommends that the joint undertaking concerned implement an integrated risk management process in its internal control framework in order to manage its risks effectively; welcomes the plans of the joint undertaking to take action on this issue;

    45.  Underlines the importance of implementing a comprehensive and up to date business continuity plan and disaster recovery plan for the joint undertakings; regrets in that regard that at the end of the financial year 2023, the joint undertakings, with the exception of the European Joint Undertaking for ITER and the Development of Fusion Energy, did not have a satisfactory policy in place in this regard; welcomes the plans of the joint undertaking to take action on this issue;

    46.  Points out that the Smart Networks and Services Joint Undertaking and the Global Health EDCTP3 Joint Undertaking still had not fully implemented the Commission’s internal control framework and calls on these two joint undertakings to fully implement that framework;

    Fraud, ethics and conflicts of interests

    47.  Takes note of the fact that the Court made one notification of suspected fraud to the European Anti-Fraud Office (OLAF) during its audit of the financial year 2023; understands that the case was later dismissed by OLAF as no fraud was observed in relation to the staff matter concerned; welcomes the diligence of the Court and the cooperation within the anti-fraud architecture;

    48.  Underlines the importance of implementing an internal control policy on sensitive functions for the joint undertakings; stresses that such a policy can prevent and mitigate the risk of inappropriate or fraudulent action; regrets that at the end of the financial year 2023, the Single European Sky ATM Research 3 Joint Undertaking, the Clean Hydrogen Joint Undertaking, the Chips Joint Undertaking, the European High-Performance Computing Joint Undertaking as well as the European Joint Undertaking for ITER and the Development of Fusion Energy did not yet have a policy in that regard; stresses the critical nature of this situation and urges the joint undertakings to take action without unnecessary delays;

    49.  Takes note of the situation in the Chips Joint Undertaking referred to by the Court, which saw one of its former senior staff members who had left the joint undertaking recently take up a new occupational activity without prior notice to the joint undertaking concerned; calls on the joint undertaking concerned and all other joint undertakings to conduct active monitoring of the new occupational activities of former senior staff members as well as of staff members occupying a sensitive function; welcomes the additional information provided by the joint undertaking concerned on this specific case;

    50.   Calls on all joint undertakings to enhance their transparency policies, particularly regarding potential conflicts of interest; urges joint undertakings to publish declarations of interest for their members of boards of management, scientific committees, and external experts, ensuring that any financial, professional, or personal ties to entities benefiting from funding from the joint undertakings are disclosed; insists on the introduction of a mandatory ‘cooling-off’ period for senior staff of the joint undertakings before they can take up employment in organisations that receive funding from the joint undertakings;

    51.  Takes note of the information reported by the joint undertakings on their activities related to prevention, detection, and correction of fraud; calls on all joint undertakings to strengthen their role and identify their weaknesses by engaging further in anti-fraud discussions and to report on such elements and to include in their future reports a clear presentation of the legal framework and policies put in place in this regard;

    Remarks on the follow-up of joint undertakings to the previous discharge exercise

    52.  Welcomes the fact that joint undertakings have produced a follow-up report to the European Parliament resolutions with observations forming an integral part of the decisions on discharge in respect of the implementation of the budget of the joint undertakings for the financial year 2022; notes that these reports provide the views of the joint undertakings on the issues underlined by the European Parliament to a satisfactory extent;

    53.  Welcomes the fact that the Court’s report also includes an analysis of the follow-up of joint undertakings to previous observations and recommendations for actions published by the Court; notes in this regard that out of 37 observations not sufficiently addressed at the end of 2022, 16 were closed and 21 remained open at the end of 2023; furthermore notes that out of the 15 recommended actions in the annual reports of 2021 and 2022, 9 had been fully implemented, 2 in most respects, 3 in some respects and 1 not implemented at all; understands that some recommendations that still need to be implemented further mainly relate to human resources issues which the joint undertakings can only implement in cooperation with the Directorate-General for Budget of the Commission and once applications are ready to be implemented; understands that the recommendations that had to be implemented before the end of 2023 were implemented in due time;

    54.  Welcomes the fact that the Court has now provided a deadline for implementation for each of its open recommendations for action, which were defined in cooperation with the joint undertakings to ensure their feasibility; calls on all joint undertakings to continue to report back to the Court and the European Parliament on these issues;

    55.   Notes with concern the persistent challenges related to cost overruns, delays, and governance issues in the implementation of the ITER project; calls for improved financial oversight and enhanced budgetary transparency, including more detailed public reporting on cost developments, spending efficiency, and progress toward key project milestones; stresses the need for stricter auditing mechanisms to ensure that Union contributions to the project are effectively utilised; urges the joint undertaking to strengthen internal governance by ensuring regular and independent evaluations of project risks and by increasing accountability mechanisms for senior management;

    Other priorities for the joint undertakings

    56.  Is aware of the administrative and budgetary constraints of joint undertakings and in respect of these constraints, calls on joint undertakings to better disseminate their contribution to research and innovation activities through accessible communication material intended for academic and research institutions, public and private organisations and European and national authorities; calls for this accessible communication material to promote the opportunities for procurement contracts and grants offered by the joint undertakings in the area of research and innovation activities;

    57.  Calls on joint undertakings to proactively engage in communication activities in order to reach a wide range of EU citizens in a pedagogical effort to present their contribution to common goals and the need for institutionalised partnerships that involve private members;

    58.   Calls on the joint undertakings to establish the cooperation with universities in order to reach out to young European graduates to strengthen their future recruitment processes;

    59.  Calls on joint undertakings to continue to report effectively and to the extent of their capacity on their contribution to employment and to the competitiveness of the European economy, in light of the necessity for all important stakeholders of the European Union in the area of research and innovation to focus on the reindustrialisation of the European Union;

    60.  Calls on joint undertakings to continue to ensure a sufficient level of participation of private firms, especially of small and medium-sized enterprises, which constitute the strongest asset of the European economy;

    61.  Calls on joint undertakings to report effectively on their contribution to horizontal priorities of the budget of the European Union;

    62.  Calls on all joint undertakings to continue to act with diligence in the conduct of their activities when dealing with international stakeholders, especially in light of the regime of restrictive measures put in place by the European Union; underlines the particular situation of the European Joint Undertaking for ITER and the Development of Fusion Energy in this regard and welcomes the explanations provided during the hearing of the joint undertaking concerned in the Committee on Budgetary Control on measures put in place to prevent any issues in the framework of the ITER project;

    63.  Calls on all joint undertakings to ensure that their staff are making a good use of possible synergies with other entities from the European Union, such as agencies, in all relevant areas and in order to increase the efficiency and impact of their operations; calls on all joint undertakings to ensure that their staff are making good use of the platform that constitutes the EU Agencies Network (EUAN);

    64.   Emphasises the need for digital sovereignty in research funded by the Union; in that regard puts special emphasis on the Chips Joint Undertaking, Euro European High Performance Computing Joint Undertaking, and the Smart Networks and Services Joint Undertaking who shall prioritise projects that enhance Union autonomy in semiconductor manufacturing, artificial intelligence, and cybersecurity; asks the Commission to ensure that projects funded by joint undertakings: i) are not excessively reliant on third-country suppliers for critical technologies; ii) contribute to the Union’s industrial resilience and strategic independence; iii) foster domestic R&D in key digital sectors;

    Call for a follow-up

    65.  Calls on each joint undertaking considered for the granting of discharge for the financial year 2023 to produce an individual follow-up report on all actions taken to address the specific issues mentioned in this resolution and to submit this follow-up report signed by the (Executive) Director of the joint undertaking to the European Parliament by no later than 30 September 2025;

    66.  Underlines that follow-up reports may also contain the general views of the joint undertakings on this resolution and on other matters relevant for the discharge authority; expects the joint undertakings to draft this report with a comprehensive approach, to touch on all issues addressed by the European Parliament concerning their activities, and to do so in good faith and cooperation.

    (1) OJ L 427, 30.11.2021, p. 17–119, ELI: http://data.europa.eu/eli/reg/2021/2085/oj.
    (2) OJ L 229, 18.9.2023, p. 55–62, ELI: http://data.europa.eu/eli/reg/2023/1782/oj.
    (3) OJ L 90, 30.3.2007, p. 58–72, ELI: http://data.europa.eu/eli/dec/2007/198/oj.
    (4) OJ L 256, 19.7.2021, p. 3–51, ELI: http://data.europa.eu/eli/reg/2021/1173/oj.

    MIL OSI Europe News

  • MIL-OSI Russia: Moscow Mayor Participates in Meeting of Boards of Trustees of Bolshoi and Mariinsky Theatres

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Vladimir Putin held a meeting boards of trustees of the Bolshoi and Mariinsky theatres. It was attended by Sergei Sobyanin.

    Opening the meeting, the Russian President noted that many companies and patrons actively help the country’s two leading theaters and other creative groups, museums, libraries and cultural institutions. With the support of trustees, initiatives related to the preservation of architectural and historical heritage are implemented, as well as tours, festivals, competitions, concerts, educational and exhibition events and programs are held. Particular attention is paid to the development of young musicians, artists and actors, which helps them to actively participate in the public life of the country.

    “Cultural heritage, spiritual identity, creative wealth – this is a powerful foundation for the development of the country, the consolidation of society. By supporting a variety of projects in the cultural sphere, you, dear colleagues, make a great contribution to strengthening the unity of our people. I sincerely want to thank you for this and, of course, for your active participation in the life of the flagships of our culture: the Bolshoi and Mariinsky theaters. You are their true friends and partners,” said Vladimir Putin.

    The performances and concerts of the two leading theatres of the country and their branches are in great demand and are loved by the public. Every year they present more than a dozen premieres, the President of Russia noted. Next year, the 250th anniversary of the Bolshoi Theatre, which is one of the most valuable objects of the national heritage of Russia, will be celebrated. Its anniversary will be a real holiday for all fans of opera, ballet and symphonic music. Preparations for it are already underway.

    “The Bolshoi and the Mariinsky are two powerful symbols of Russia, without any exaggeration, they are our pride, the embodiment of great Russian culture and world centers of musical art,” Vladimir Putin noted.

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    https: //vv.mos.ru/mayor/tkhemes/12747050/

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  • MIL-OSI USA: Cortez Masto, Ernst, Case, Radewagen Work to Strengthen Strategic Relationships with Pacific Islands, Counter Chinese Aggression in the Region

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
    Washington, D.C. – Today, U.S. Senators Catherine Cortez Masto (D-Nev.) and Joni Ernst (R-Iowa), Congressman Ed Case (D-Hawaii-01), and Delegate Aumua Amata Radewagen (R-A.S.). introduced a bipartisan, bicameral bill aimed at strengthening the United States’ strategic partnerships with Pacific Island nations, supporting sustainable development, and combating the increasing Chinese aggression in the region. The Pacific Partnership Act would help the U.S. establish a clear, comprehensive strategy to support diplomatic, security, and economic relationships in the Indo-Pacific region.
    “Supporting our allies and partners in the Indo-Pacific is essential to combating the Chinese Communist Party’s influence and to our long-term national security,” said Senator Cortez Masto. “This bipartisan bill is critical to strengthening our ties with our allies in the Pacific and ensuring they become enduring global relationships.”
    “Strengthening America’s partnerships in the Indo-Pacific is critical to deterring Chinese aggression,” said Senator Ernst. “This bipartisan legislation equips us to work with nations in the Pacific that serve as the first line of defense against the Chinese Communist Party and keep Americans safe at home.”
    “Our Pacific Partnership Act responds directly to the reality that our country’s and world’s future lies in the Indo-Pacific, and that the islands of the Pacific are our indispensable partners in charting that future,” said Congressman Case. “The Pacific Islands are under increasingly severe economic, environmental and geopolitical stress, and we must expand our generational engagement to assist them where they most need assistance. The Pacific Partnership Act, molded directly on the Pacific Islands’ own blueprint to their collective future, is our roadmap to expanded engagement as well.”
    “Thank you to Senator Cortez Masto, Senator Ernst, and Congressman Case for their focus on these important partnerships that are close to home for my congressional district in the South Pacific,” said Congresswoman Radewagen. “We need sustained U.S. engagement for enduring partnerships in the Pacific Islands, keeping China’s influence in check, and strengthening mutual development opportunities.”
    The U.S. has a longstanding relationship with the Pacific Islands, and they play a crucial role in U.S. national security, facilitating military operations in support of American allies and partners. Nevada – through the National Guard – collaborates with the Republic of Fiji, the Kingdom of Tonga, and the Independent State of Samoa under the National Guard Bureau’s State Partnership Program, strengthening security cooperation globally. 
    The Pacific Partnership Act would strengthen these crucial ties by creating a “Strategy for Pacific Partnership”. This strategy, crafted by the President and presented to Congress every four years, would outline U.S. involvement in the Pacific Islands and highlight combined efforts to combat regional challenges including natural disasters, security threats, and economic development. 
    Read the full bill here.
    Senator Cortez Masto has led efforts in Congress to stand up to the Chinese Communist Party’s influence and protect the American national and economic security. She introduced the PASS Act to ban individuals and entities controlled by China, Russia, Iran, and North Korea from purchasing agricultural land and businesses located near U.S. military installations or sensitive sites and the Strengthening Exports Against China Act, which would incentivize economic growth by eliminating barriers for American businesses competing directly with China in emerging industries like artificial intelligence and semiconductors. She’s also introduced bipartisan legislation to strengthen the domestic supply chain for rare-earth magnets, which are critical components of cell phones, computers, defense systems, and electric vehicles, but are almost exclusively made in China.

    MIL OSI USA News

  • MIL-OSI Russia: Financial news: Futures and options trading volume on Moscow Exchange reached 12 trillion rubles in April

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    The total volume of transactions on the Moscow Exchange futures market as of the end of April 2025 amounted to 12 trillion rubles (7 trillion rubles in April 2024). The volume of open positions at the end of the month was 2.2 trillion rubles (1.9 trillion rubles in April 2024).

    In April 2025, 194 thousand clients concluded futures and options transactions on the Moscow Exchange (146 thousand in April 2024). The share of individuals in the total volume of exchange derivatives trading was 61%.

    The most popular instruments in terms of the number of clients with open positions at the end of April were quarterly and perpetual futures on currency contracts “Chinese yuan – Russian ruble” (CNY and CNYRUBF), “US dollar – Russian ruble” (Si and USDRUBF), as well as monthly futures on natural gas (NG).

    The share of the evening trading session in the total trading volume on the futures market was 17%. The top 5 popular instruments by trading volume in the evening period included futures on natural gas (NG), gold (GOLD), the Moscow Exchange Index (MIX), quarterly contracts on the US dollar – Russian ruble currency pairs (Si) and the RTS Index (RTS).

    Morning trading in April accounted for 5% of the total trading volume. Most of all, clients traded quarterly gold futures (GOLD), the Moscow Exchange Index (MIX), the US dollar-Russian ruble (Si) and Chinese yuan-Russian ruble (CNY) currency pairs, and RTS Index futures (RTS).

    In April, trading in a new instrument began on the Moscow Exchange futures market. European natural gas futures settlement contract TTF (TTF). The range of derivatives on foreign assets has been expanded cash-settled contracts for shares of the investment fund Invesco PHLX Semiconductor ETF (SOXQ). The fund tracks the Nasdaq PHLX Semiconductor Sector Index, which includes 30 leading companies involved in the development, production and distribution of semiconductors. Trading also began premium options on shares of two more issuers.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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    HTTPS: //VVV. MOEX.K.MO/N90197

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  • MIL-OSI Russia: To colleagues, family and friends of Nina Grebeshkova

    Translation. Region: Russian Federal

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

    Mikhail Mishustin expressed his condolences in connection with the death of film actress, Honored Artist of Russia Nina Grebeshkova.

    Please accept my deepest condolences on the death of Nina Pavlovna Grebeshkova.

    Nina Pavlovna was an actress of unique talent and bright personality. Viewers loved the charming and touching heroines that she brilliantly played in the famous Gaidai comedies. Each of her roles is filled with extraordinary sincerity and special energy.

    A warm-hearted and considerate person, Nina Pavlovna generously shared her warmth with colleagues, family and friends.

    Nina Pavlovna is no longer with us, but she will forever remain in wonderful films. In our memory.

    M. Mishustin

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  • MIL-OSI Russia: Dmitry Patrushev visited the vessel “Captain Sokolov”, built under the investment quota mechanism

    Translation. Region: Russian Federal

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

    During a working visit to the Murmansk Region, Deputy Prime Minister Dmitry Patrushev, together with the head of the region Andrei Chibis, visited the seaport, where he inspected the newest fishing vessel, the Captain Sokolov, built under the investment quota mechanism.

    “The fisheries complex is of great importance for the economy of the Murmansk region. The region’s users catch more than 10% of the all-Russian volumes. The region’s fishing enterprises participate in the implementation of the investment quota mechanism, which allows for the renewal of the fishing fleet, an increase in processing, and an increase in production efficiency. In general, the “keel quota” mechanism has given impetus to the revival of Russian commercial shipbuilding. Currently, 27 plants and 40 vessels have been built within the framework of the program. Of these, 23 are fishing vessels and 17 are crab vessels. During the period of the mechanism’s operation, 8 plants and 6 vessels have been built in the Murmansk region,” said Dmitry Patrushev.

    One of such objects is the fishing vessel “Captain Sokolov”. On board is a modern fish processing factory with a capacity of up to 150 tons of frozen fish and canned goods per day. The freezing equipment of the vessel is capable of storing up to 1 thousand tons of fish.

    The Deputy Prime Minister noted the innovative design of the bow of the hull. It increases the working space on the vessel, improves its seaworthiness, increases the durability of the vessel and the safety of navigation. It also creates the most comfortable conditions for the crew to live and work.

    Coordination of work on completing the construction of fishing vessels within the framework of the implementation of the mechanism for providing quotas for the extraction (catch) of aquatic bioresources for investment purposes is being carried out by the Government of Russia within the framework of incident No. 42 “Fishing vessels”.

    The “keel quota” mechanism is aimed at stimulating the development of the domestic fishing fleet.

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  • MIL-OSI Russia: Marat Khusnullin: Almost 300 facilities are planned to be completed in Zaporizhzhia Oblast this year

    Translation. Region: Russian Federal

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

    Marat Khusnullin held a meeting with the Governor of Zaporizhia Oblast Yevgeny Balitsky, where they discussed increasing the reliability of the region’s energy complex, upgrading the housing and utilities sector and building modern housing, social facilities, and developing transport infrastructure.

    “This year, federal customers and sponsor regions plan to commission almost 300 facilities in the Zaporizhia region. Also among the new facilities currently under construction is a multidisciplinary pediatric medical center in Melitopol, which is being built by the “Single Customer” on behalf of the President. Special attention was paid to issues of supporting state enterprises. Among them is the Berdyansk seaport. The Unified Institute of Spatial Planning, as part of the development of the city’s general plan, has prepared a set of proposals for its development, which by 2030 will increase the port’s capacity by more than 40%,” said Marat Khusnullin.

    In addition, the topic of increasing the region’s tourist attractiveness, taking into account its existing potential, was touched upon. The Deputy Prime Minister emphasized that it is important to facilitate the creation of all necessary infrastructure, including road infrastructure. For example, about 30 km of the highway along the Sea of Azov is being updated.

    “With the systematic support of the Government of the Russian Federation, the Zaporizhzhya Region has every chance and opportunity to take a worthy place on the tourist map of Russia and become one of the leaders of domestic tourism in the country. I am grateful to Marat Shakirzyanovich for his attentive attitude to every issue of our region’s development and practical assistance at every stage of work,” noted the Governor of the Zaporizhzhya Region, Yevgeny Balitsky.

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  • MIL-OSI Europe: Answer to a written question – Increasing customs duties on products imported from Russia and the impact on the agricultural sector in the EU – P-001208/2025(ASW)

    Source: European Parliament

    The Commission proposal referred to by the Honourable Member[1] aims at gradually phasing out the EU’s dependence on Russian nitrogen-based fertilisers through a transitional approach. This involves measured annual increases of customs duties on Russian imports over a period of three years, minimising the risk of a surge in fertiliser prices. The Commission expects the measure to result in a gradual and orderly replacement of Russian nitrogen-based fertilisers with alternatives, including domestically produced ones, thus contributing to fair competition in the EU fertilisers market and supporting a stable, long-term role of the EU fertilisers industry in ensuring the EU food security.

    The proposal mandates the Commission to monitor nitrogen-based fertiliser prices. The Commission will continue assessing the situation and take appropriate measures to prevent the price increase. These measures may include, among others, proposing the temporary suspension of tariffs on affected goods imported from sources other than Russia and Belarus.

    The Commission is not proposing to modify customs duties on imports from Russia of other products. The Commission would like to note that some of the products referred to by the Honourable Member are already subject to import restrictions as part of the sanctions adopted following Russia’s military aggression against Ukraine under Regulation 833/2014[2], in particular potash fertilisers and crustaceans. Any decision to impose or amend these sanctions is for the Council to take by unanimity.

    • [1] https://ec.europa.eu/transparency/documents-register/detail?ref=COM(2025)34&lang=en.
    • [2] Council Regulation (EU) No 833/2014, ELI: http://data.europa.eu/eli/reg/2014/833/2025-02-25 .
    Last updated: 13 May 2025

    MIL OSI Europe News

  • MIL-OSI Russia: Xi Jinping Holds Talks with Brazilian President

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BEIJING, May 13 (Xinhua) — Chinese President Xi Jinping held talks in Beijing on Tuesday with Brazilian President Luiz Inacio Lula da Silva, who is on a state visit to China.

    Xi Jinping recalled that last year, on the occasion of the 50th anniversary of the establishment of diplomatic relations between China and Brazil, the two sides jointly announced the upgrading of bilateral ties to a China-Brazil community of shared future for a fairer world and a more sustainable planet.

    The Chinese President called on both sides to vigorously advance the building of a China-Brazil community with a shared future, consistently strengthen the alignment of development strategies, and jointly promote solidarity and cooperation among countries in the Global South.

    Xi Jinping stressed that China and Brazil should maintain strategic mutual trust, support each other on issues related to the two sides’ core interests and major concerns, and strengthen exchanges at all levels and in all areas.

    The Chinese leader called on the two countries to expand cooperation, deepen the effective alignment of the Belt and Road Initiative with Brazil’s development strategy, make full use of various cooperation mechanisms between the two countries, strengthen cooperation in traditional areas such as infrastructure, agriculture and energy, and explore new areas of cooperation including energy transition, digital economy, artificial intelligence, aviation and space.

    China and Brazil, Xi Jinping continued, should expand cultural and people-to-people exchanges, provide more facilities for people-to-people exchanges, and step up cooperation in culture, education, tourism, media, and at the local level.

    The two sides should maintain active interaction in multilateral forums, the Chinese leader noted, adding that as the largest developing countries in the Eastern and Western hemispheres respectively, China and Brazil should strengthen coordination and cooperation in multilateral mechanisms, uphold multilateralism, improve global governance, safeguard the international trade and economic order, and firmly oppose unilateralism, protectionism and bullying.

    L. I. Lula da Silva, for his part, stated that Brazil expects to deepen strategic cooperation with China and promote the construction of a Brazilian-Chinese community with a shared destiny.

    Brazil is willing to align its development strategy with the Belt and Road Initiative and expand cooperation between the two countries in areas such as trade, infrastructure, space and finance, the president said. He also called on the two countries to expand youth and cultural exchanges and strengthen ties and friendship between the two peoples.

    As L.I. Lula da Silva pointed out, protectionism and abuse of tariffs cannot promote development and prosperity, but instead lead to chaos. He stressed that China’s resolute stance in confronting global challenges gives strength and confidence to all countries. According to him, Brazil is ready to strengthen strategic cooperation with China in international affairs, cooperate to protect the common interests of the Global South, and uphold international fairness and justice.

    At the Great Hall of the People, the heads of the two states attended the signing of 20 documents on cooperation in such areas as the alignment of development strategies, science and technology, agriculture, digital economy, finance, customs control and quarantine supervision, and the media.

    The heads of the two states also met with the press together.

    China and Brazil on Tuesday issued a joint statement on strengthening the joint construction of a China-Brazil community of shared future for a fairer world and a more sustainable planet and jointly safeguarding multilateralism, as well as a joint statement on the Ukraine crisis.

    Before the talks, Xi Jinping and his wife Peng Liyuan held a welcoming ceremony for Luiz Inacio Lula da Silva and his wife Rosangela Lula da Silva. –0–

    MIL OSI Russia News

  • MIL-OSI: Satellogic Reports First Quarter 2025 Financial Results and Provides Business Update

    Source: GlobeNewswire (MIL-OSI)

    Revenue of $3.4 million in 1Q 2025

    Domestication to U.S. Completed

    Awarded $30 Million Contract for AI-First Constellation and Closed $20 Million Registered Direct Offering

    NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) — Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today provided a business update and reported its financial results for the three months ended March 31, 2025.

    “The year is off to a great start with our recent announcements in April related to our $30 million low latency, near-daily AI-first constellation contract, our sovereign defense and intelligence imagery sales to Brazil and Singapore, and the closing of a registered direct offering in which we received $20 million in gross proceeds, which further strengthened our liquidity position. These milestones, coupled with the completion of our domestication during the first quarter, positions Satellogic to focus on significant growth opportunities, underscoring the value of our data insights and technology,” said Satellogic CEO, Emiliano Kargieman.

    Rick Dunn, Chief Financial Officer, added, “In terms of financial results, we ended the quarter with $17.7 million of cash on hand (which does not include the proceeds from the aforementioned offering) and continued to reduce our cash used in operations by $5.4 million, or 53%, compared to the three months ended March 31, 2024. Our revenue also increased modestly by 2% to $3.4 million compared to the prior year period.”

    “We expect that our revenue for 2025 will largely be dependent on closing opportunities within our Space Systems line of business, which we anticipate will contribute considerable per unit cash flow and strong gross margin. As we look to 2025 and beyond, management continues to focus on near-term growth opportunities and moving the Company forward on a path to profitability,” concluded Dunn.

    Financial Results for the Three Months Ended March 31, 2025

    • Revenue for the three months ended March 31, 2025, increased by $0.1 million, or 2%, to $3.4 million, as compared to revenue of $3.3 million for the three months ended March 31, 2024. The increase was driven primarily by a $0.4 million increase in imagery ordered by new and existing Asset Monitoring customers, partially offset by a $0.4 million decrease in revenue generated from the Space Systems business line. Revenue for the three months ended March 31, 2025 included $2.6 million attributable to our Asset Monitoring line of business, $0.4 million attributable to our Space Systems line of business, and $0.4 million attributable to our CaaS line of business compared to $2.2 million, $0.7 million and $0.4 million, respectively, in the prior period.
    • Cost of Sales, exclusive of depreciation, decreased $0.1 million, or 5%, to $1.2 million for the three months ended March 31, 2025 from $1.3 million for the three months ended March 31, 2024. The decrease was driven primarily by lower Space Systems costs on lower sales volume, partially offset by higher outsourced ground station costs. However, as a percentage of revenue, our cost of sales were 37% for the three months ended March 31, 2025, as compared to 39% for the three months ended March 31, 2024.
    • Selling, General and Administrative expenses decreased $2.9 million, or 31%, to $6.5 million during the three months ended March 31, 2025, from $9.4 million for the three months ended March 31, 2024. The decrease was driven primarily by a $0.5 million decrease in professional fees consisting mainly of the accrued advisory fee pursuant to the Liberty Subscription Agreement and professional fees related to the secured convertible notes in 2024, partially offset by professional fees related to our domestication in 2025. The decrease was also partially driven by decreases in salaries, wages, stock-based compensation and other benefits as a result of the Company’s workforce reductions in 2024 and other expense reductions resulting from continued cash control measures during 2024.
    • Engineering expenses decreased $1.9 million, or 43%, to $2.5 million for the three months ended March 31, 2025 from $4.4 million for the three months ended March 31, 2024. The decrease was driven primarily by a decrease in salaries, wages, and other benefits and stock-based compensation as a result of the Company’s workforce reductions in 2024. The decrease was also partially driven by other expense reductions resulting from continued cash control measures during 2024, including the termination of our high-throughput plant lease in the Netherlands.
    • Net loss for the three months ended March 31, 2025, increased by $17.4 million to $32.6 million, as compared to a net loss of $15.2 million for the three months ended March 31, 2024. The increase was primarily driven by an increase in the change in fair value of financial instruments ($21.6 million) and other (expense) income, net ($1.6 million) offset by increases in revenue and decreases in operating costs.
    • Non-GAAP Adjusted EBITDA loss for the three months ended March 31, 2025, improved by $3.1 million to $6.1 million, from an Adjusted EBITDA loss of $9.1 million for the three months ended March 31, 2024, primarily due to year-over-year increases in revenue and decreases in operating expenses.
    • Cash and Cash Equivalents were $17.7 million at March 31, 2025, compared to $22.5 million at December 31, 2024.
    • Net cash used in operating activities was $4.7 million for the three months ended March 31, 2025, compared to $10.1 million for the three months ended December 31, 2024. This decline in net cash used by operations was primarily due to workforce reduction and overall cost control initiatives.

    Use of Non-GAAP Financial Measures

    We monitor a number of financial performance and liquidity measures on a regular basis in order to track the progress of our business. Included in these financial performance and liquidity measures are the non-GAAP measures, Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA. We believe these measures provide analysts, investors and management with helpful information regarding the underlying operating performance of our business, as they provide meaningful supplemental information regarding our performance and liquidity by removing the impact of items that we believe are not reflective of our underlying operating performance. The non-GAAP measures are used by us to evaluate our core operating performance and liquidity on a comparable basis and to make strategic decisions. The non-GAAP measures also facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations such as capital structures, taxation, depreciation, capital expenditures and other non-cash items (i.e., embedded derivatives, debt extinguishment and stock-based compensation) which may vary for different companies for reasons unrelated to operating performance. However, different companies may define these terms differently and accordingly comparisons might not be accurate. Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA are not intended to be a substitute for any GAAP financial measure. For the definitions of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA and reconciliations to the most directly comparable GAAP measure, net loss, see below.

    We define Non-GAAP EBITDA as net loss excluding interest, income taxes, depreciation and amortization. We did not incur amortization expense during the years ended December 31, 2024 and 2023.

    We define Non-GAAP Adjusted EBITDA as Non-GAAP EBITDA further adjusted for professional fees related to the secured convertible notes, other expense (income), net, changes in the fair value of financial instruments and stock-based compensation. Other expense (income), net includes foreign exchange gain or loss and other non-operating income and expenses not considered indicative of our ongoing operational performance.

    The following table presents a reconciliation of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA to its net loss for the periods indicated.

      Three Months Ended March 31,
    (in thousands of U.S. dollars)   2025       2024  
    Net loss available to stockholders $ (32,581 )   $ (15,178 )
    Interest expense         9  
    Income tax expense   715       1,433  
    Depreciation expense   2,687       2,845  
    Non-GAAP EBITDA $ (29,179 )   $ (10,891 )
    Professional fees related to Secured Convertible Notes         971  
    Other expense (income), net   167       (1,401 )
    Change in fair value of financial instruments   22,361       752  
    Stock-based compensation   595       1,446  
    Non-GAAP Adjusted EBITDA $ (6,056 )   $ (9,123 )
     

    About Satellogic

    Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated EO platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers.

    Satellogic’s mission is to democratize access to geospatial data through its information platform of high-resolution images to help solve the world’s most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry.

    With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point.

    To learn more, please visit: http://www.satellogic.com

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic’s strategic realignment as a U.S. company, and the visibility and high growth opportunities it will provide in connection therewith. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to generate revenue as expected, including due to challenges created by macroeconomic concerns, geopolitical uncertainty (e.g., trade relationships), financial market fluctuations and related factors, (ii) our ability to effectively market and sell our EO services and to convert contracted revenues and our pipeline of potential contracts into actual revenues, (iii) risks related to the secured convertible notes, (iv) the potential loss of one or more of our largest customers, (v) the considerable time and expense related to our sales efforts and the length and unpredictability of our sales cycle, (vi) risks and uncertainties associated with defense-related contracts, (vii) risk related to our pricing structure, (viii) our ability to scale production of our satellites as planned, (ix) unforeseen risks, challenges and uncertainties related to our expansion into new business lines, (x) our dependence on third parties, including SpaceX, to transport and launch our satellites into space, (xi) our reliance on third-party vendors and manufacturers to build and provide certain satellite components, products, or services and the inability of these vendors and manufacturers to meet our needs, (xii) our dependence on ground station and cloud-based computing infrastructure operated by third pirates for value-added services, and any errors, disruption, performance problems, or failure in their or our operational infrastructure, (xiii) risk related to certain minimum service requirements in our customer contracts, (xiv) market acceptance of our EO services and our dependence upon our ability to keep pace with the latest technological advances, including those related to artificial intelligence and machine learning, (xv) our ability to identify suitable acquisition candidates or consummate acquisitions on acceptable terms, or our ability to successfully integrate acquisitions, (xvi) competition for EO services, (xvii) challenges with international operations or unexpected changes to the regulatory environment in certain markets, (xviii) unknown defects or errors in our products, (xix) risk related to the capital-intensive nature of our business and our ability to raise adequate capital to finance our business strategies, (xx) uncertainties beyond our control related to the production, launch, commissioning, and/or operation of our satellites and related ground systems, software and analytic technologies, (xxi) the failure of the market for EO services to achieve the growth potential we expect, (xxii) risks related to our satellites and related equipment becoming impaired, (xxiii) risks related to the failure of our satellites to operate as intended, (xxiv) production and launch delays, launch failures, and damage or destruction to our satellites during launch, (xxv) the impact of natural disasters, unusual or prolonged unfavorable weather conditions, epidemic outbreaks, terrorist acts and geopolitical events (including the ongoing conflicts between Russia and Ukraine, in the Gaza Strip and the Red Sea region) on our business and satellite launch schedules and (xxvi) the anticipated benefits of the domestication may not materialize. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 10-K and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.

    Contacts

    Investor Relations:

    Ryan Driver, VP of Strategy & Corporate Development
    ryan.driver@satellogic.com

    Media Relations:

    Satellogic
    pr@satellogic.com

    SATELLOGIC INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    UNAUDITED
     
      Three Months Ended March 31,
    (in thousands of U.S. dollars, except share and per share amounts)   2025       2024  
    Revenue $ 3,387     $ 3,328  
    Costs and expenses      
    Cost of sales, exclusive of depreciation shown separately below   1,237       1,305  
    Selling, general and administrative   6,485       9,389  
    Engineering   2,493       4,387  
    Depreciation expense   2,687       2,845  
    Total costs and expenses   12,902       17,926  
    Operating loss   (9,515 )     (14,598 )
    Other (expense) income, net      
    Interest income, net   177       204  
    Change in fair value of financial instruments   (22,361 )     (752 )
    Other (expense) income, net   (167 )     1,401  
    Total other (expense) income, net   (22,351 )     853  
    Loss before income tax   (31,866 )     (13,745 )
    Income tax expense   (715 )     (1,433 )
    Net loss available to stockholders $ (32,581 )   $ (15,178 )
    Other comprehensive loss      
    Foreign currency translation gain (loss), net of tax   257       (137 )
    Comprehensive loss $ (32,324 )   $ (15,315 )
           
    Basic net loss per share for the period attributable to holders of Common Stock $ (0.34 )   $ (0.17 )
    Basic weighted-average Common Stock outstanding   96,655,349       90,331,496  
    Diluted net loss per share for the period attributable to holders of Common Stock $ (0.34 )   $ (0.17 )
    Diluted weighted-average Common Stock outstanding   96,655,349       90,331,496  
    SATELLOGIC INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    UNAUDITED
     
      March 31,   December 31,
    (in thousands of U.S. dollars, except per share and par value amounts)   2025       2024  
    ASSETS      
    Current assets      
    Cash and cash equivalents $ 17,716     $ 22,493  
    Restricted cash   305        
    Accounts receivable, net of allowance of $148 and $148, respectively   1,799       1,464  
    Prepaid expenses and other current assets   4,274       3,907  
    Total current assets   24,094       27,864  
    Property and equipment, net   25,802       27,228  
    Operating lease right-of-use assets   6,538       877  
    Other non-current assets   4,968       5,722  
    Total assets $ 61,402     $ 61,691  
    LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY      
    Current liabilities      
    Accounts payable $ 3,742     $ 3,754  
    Warrant liabilities   14,902       11,511  
    Earnout liabilities   1,992       1,501  
    Operating lease liabilities   989       363  
    Contract liabilities   6,308       5,871  
    Accrued expenses and other liabilities   13,661       11,621  
    Total current liabilities   41,594       34,621  
    Secured Convertible Notes at fair value   96,590       79,070  
    Operating lease liabilities   5,812       516  
    Other non-current liabilities   498       516  
    Total liabilities   144,494       114,723  
    Commitments and contingencies      
    Stockholders’ (deficit) equity      
    Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023          
    Class A Common Stock, $0.0001 par value, 385,000,000 shares authorized, 84,451,437 shares issued and 83,883,614 shares outstanding as of March 31, 2025 and 83,000,501 shares issued and 82,432,678 shares outstanding as of December 31, 2024          
    Class B Common Stock, $0.0001 par value, 15,000,000 shares authorized, 13,582,642 shares issued and outstanding as of March 31, 2025 and December 31, 2024          
    Treasury stock, at cost, 567,823 shares as of March 31, 2025 and 567,823 shares as of December 31, 2024   (8,603 )     (8,603 )
    Additional paid-in capital   358,511       356,247  
    Accumulated other comprehensive loss   (314 )     (571 )
    Accumulated deficit   (432,686 )     (400,105 )
    Total stockholders’ (deficit) equity   (83,092 )     (53,032 )
    Total liabilities and stockholders’ (deficit) equity $ 61,402     $ 61,691  
    SATELLOGIC INC.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    UNAUDITED
     
      Three Months Ended March 31,
    (in thousands of U.S. dollars)   2025       2024  
    Cash flows from operating activities:      
    Net loss $ (32,581 )   $ (15,178 )
    Adjustments to reconcile net loss to net cash used in operating activities:      
    Depreciation expense   2,687       2,845  
    Operating lease expense   421       538  
    Stock-based compensation   595       1,446  
    Change in fair value of financial instruments, net of interest paid on Secured Convertible Notes   20,691       752  
    Foreign exchange differences   (188 )     (643 )
    Loss on disposal of property and equipment   28       78  
    Expense for estimated credit losses on accounts receivable, net of recoveries         16  
    Non-cash change in contract liabilities   (46 )     (501 )
    Other, net         56  
    Changes in operating assets and liabilities:      
    Accounts receivable   (21 )     (932 )
    Prepaid expenses and other current assets   830       (377 )
    Accounts payable   569       1,764  
    Contract liabilities   438       (25 )
    Accrued expenses and other liabilities   2,024       601  
    Operating lease liabilities   (169 )     (555 )
    Net cash used in operating activities   (4,722 )     (10,115 )
    Cash flows from investing activities:      
    Purchases of property and equipment   (1,913 )     (1,942 )
    Net cash used in investing activities   (1,913 )     (1,942 )
    Cash flows from financing activities:      
    Proceeds from issuance of Common Stock under ATM Program, net of transaction costs   1,143        
    Payments for withholding taxes related to the net share settlement of equity awards   (375 )     (184 )
    Proceeds from exercise of stock options   916        
    Net cash provided by (used in) financing activities   1,684       (184 )
    Net (decrease) increase in cash, cash equivalents and restricted cash   (4,951 )     (12,241 )
    Effect of foreign exchange rate changes on cash and cash equivalents   177       542  
    Cash, cash equivalents and restricted cash – beginning of period   23,682       24,603  
    Cash, cash equivalents and restricted cash – end of period $ 18,908     $ 12,904  

    The MIL Network

  • MIL-OSI Russia: Financial news: 05/13/2025, 11-14 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A102DB2 (GPB001P18P) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/13/2025

    11:14

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 11-14 (Moscow time), the values of the upper limit of the price corridor (up to 108.77) and the range of market risk assessment (up to 1254.5 rubles, equivalent to a rate of 11.25%) of the RU000A102DB2 (GPB001P18P) security were changed.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MEEX.K.M.M.

    MIL OSI Russia News

  • MIL-OSI Russia: Financial news: 05/13/2025, 11:39 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A10A6B8 (RusGid2P02) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/13/2025

    11:39

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 11-39 (Moscow time), the values of the upper limit of the price corridor (up to 121.94) and the range of market risk assessment (up to 1275.32 rubles, equivalent to a rate of 10.0%) of the security RU000A10A6B8 (RusGid2P02) were changed.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MEEX.K.M.M.

    MIL OSI Russia News

  • MIL-OSI Russia: Financial news: 05/13/2025, 12-12 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0ZZ7G1 (KAMAZ BO-7) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/13/2025

    12:12

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 13.05.2025, 12-12 (Moscow time), the values of the upper limit of the price corridor (up to 107.59) and the range of market risk assessment (up to 1257.83 rubles, equivalent to a rate of 13.75%) of the RU000A0ZZ7G1 (KAMAZ BO-7) security were changed.

    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.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MOEX.K.M.M.

    MIL OSI Russia News

  • MIL-OSI Russia: Marat Khusnullin: By 2030, more than 50 thousand km of utility networks will be updated under the national project “Infrastructure for Life”

    Translation. Region: Russian Federal

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

    Work on modernizing housing and communal services systems and facilities is intensifying in the regions. Since this year, it has been carried out within the framework of the federal project “Modernization of communal infrastructure” as part of the national project “Infrastructure for life”. By 2030, the country plans to replace at least 2.5% of communal networks annually, Deputy Prime Minister Marat Khusnullin reported.

    “Modernization of public utility infrastructure is one of the key components of the comprehensive development of populated areas and improving the quality of life of Russians. To achieve the indicators of the national project “Infrastructure for Life”, it is necessary to significantly update the infrastructure and modernize the capacity of utility networks. This large-scale work is aimed at solving existing problems in the housing and utilities sector. At the same time, it is important to ensure systemic planning, the basis for which should be comprehensive plans for the modernization of regional housing and utilities systems. In general, from 2025 to 2030, it is necessary to build and modernize more than 50 thousand km of utility networks, at least 2 thousand drinking water supply and water treatment facilities. This will improve the quality of utilities for 20 million Russians. By 2030, it is planned to replace at least 2.5% of the networks annually, by 2035 this figure should be at least 5%,” said Marat Khusnullin.

    In total, 4.5 trillion rubles must be allocated for the modernization of the housing and utilities sector, with a larger volume of funds to be provided from extra-budgetary sources. Such instruments as infrastructure bonds, treasury infrastructure loans, writing off two-thirds of the regions’ debt on budget loans, subsidies from the federal budget and regional budget funds, as well as tariff sources of resource supplying organizations are involved in the financing.

    The Deputy Prime Minister added that in 2019–2024, more than 12,000 km of utility networks and 5,500 housing and utilities infrastructure facilities were built and modernized in the country’s regions. The Territorial Development Fund is the operator of a number of federal programs supervised by the Ministry of Construction.

    “In particular, these are programs involving infrastructure budget and special treasury loans, as well as concessional loans from the National Welfare Fund. Under the IBC program, more than 270 housing and communal services facilities and events have been completed since 2022, including over 1,000 km of utility networks. Within the framework of the SKK program launched in 2023 as a continuation of this regional development instrument, 120 facilities and events have been completed, including over 320 km of utility networks. Thanks to concessional loans from the NWF, since the launch of this program in 2022, about 1.1 thousand facilities have been commissioned, including over 1.3 thousand km of utility networks. These utilities infrastructure modernization tools have proven to be in demand by the regions, and their implementation continues,” said Ilshat Shagiakhmetov, General Director of the Territorial Development Fund.

    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: Financial news: More than 5.7 thousand Russian companies concluded transactions on the money market in April 2025

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    Russian businesses actively use the exchange infrastructure to place and attract funds on market terms with the most flexible parameters and a wide range of counterparties. The number of Russian commercial organizations that concluded transactions on the money market in April 2025 was a record and amounted to 5.7 thousand (16% since the beginning of 2025).

    The average daily open position of Russian companies in money market instruments in April 2025 increased to 1.8 trillion rubles, which is twice as high as the average daily figure in 2024.

    The volume of transactions of Russian companies with direct access to the deposit market with a central counterparty (CCP) amounted to 10.4 trillion rubles at the end of April, which is almost three times higher than the average monthly volume of their transactions in 2024.

    The volume of transactions by corporate clients using brokerage access to the Moscow Exchange repo market reached 17.6 trillion rubles in April, which is twice their average monthly volume in 2024.

    Almost 300 companies, including almost two dozen new ones entering the market in 2025, today have direct access to the deposit market with the Central Bank. 230 companies use it to conclude transactions in the deposit market with the Central Bank. MOEX Treasury web interfaceOperations in the deposit market are carried out by corporations, banks, insurance companies, management companies, pension funds, etc.

    Deposits with the Central Credit Union (CCU) are a segment of the Moscow Exchange money market that provides the opportunity to place funds on market terms without the need to set limits on individual counterparties using the exchange and settlement infrastructure of the Moscow Exchange Group. The term of the deposit is from one day to one year, the deposit currency is the Russian ruble and the Chinese yuan. Applications for the placement of funds in deposits with the CCU are matched with repo applications with clearing participation certificates (CPC) from professional participants in the securities market on the Moscow Exchange money market, which ultimately contributes to the influx of additional liquidity into the Russian exchange market.

    Operations on the repo market with the help of brokerage access allow Russian companies to use the most liquid market of the Russian Federation to place and attract funds secured by securities from the widest range of counterparties for a period from one day to one year.

    The Moscow Exchange Money Market is one of the most important segments of the Russian financial market, with the help of which both large corporations and small companies and individual investors manage their monetary liquidity. The list of money market instruments includes repo with the Central Credit Union, repo with the Central Credit Union, repo with the Bank of Russia, interdealer repo, deposits with the Central Credit Union, loans, as well as deposit and loan auctions. The Moscow Exchange acts as the organizer of trades, clearing and settlements are carried out by the National Clearing Center (NCC, part of the Moscow Exchange Group).

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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  • MIL-OSI Russia: Financial news: 05/13/2025, 14-10 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A0JVXS5 (RESOLizB04) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/13/2025

    14:10

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC), on 13.05.2025, 14-10 (Moscow time), the values of the upper limit of the price corridor (up to 122.45) and the range of market risk assessment (up to 1382.93 rubles, equivalent to a rate of 37.5%) of the RU000A0JVXS5 (RESOLizB04) security were changed.

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  • MIL-OSI Russia: Financial news: 05/13/2025, 14-36 (Moscow time) the values of the upper limit of the price corridor and the range of market risk assessment for the security RU000A1008P1 (Rosnft2P6) were changed.

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    05/13/2025

    14:36

    In accordance with the Methodology for determining the risk parameters of the stock market and deposit market of Moscow Exchange PJSC by NCO NCC (JSC) on 13.05.2025, 14-36 (Moscow time), the values of the upper limit of the price corridor (up to 89.01) and the range of market risk assessment (up to 938.91 rubles, equivalent to a rate of 13.5%) of the security RU000A1008P1 (Rosnft2P6) were changed.

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  • MIL-OSI Russia: Dmitry Chernyshenko: The main stage of the Unified State Exam will begin on May 23 in all 89 regions of Russia and 55 foreign countries

    Translation. Region: Russian Federal

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

    A meeting was held under the chairmanship of Deputy Prime Minister Dmitry Chernyshenko on the issue of readiness to conduct the state final certification (SFC) for basic general and secondary general education programs in 2025.

    Its participants discussed the readiness of the subjects of the Russian Federation, including border territories and reunited regions, to conduct the Unified State Exam, Basic State Exam, and State Final Exam.

    Dmitry Chernyshenko noted that, on the instructions of President Vladimir Putin, changes were made to the federal basic general education programs. They will come into force on September 1, 2025. The main and unified state exams are synchronized with the programs.

    “Based on many years of accumulated experience, we see that competent organization of the exam at the local level is an important condition for good results. Over the past two years, according to the results of monitoring, Novosibirsk, Belgorod, Tambov and Leningrad regions, the Altai Republic, the Yamalo-Nenets Autonomous Okrug, the Republic of Tatarstan, the federal cities of Sevastopol and Moscow have demonstrated a stable exemplary level of conducting the examination campaign. The heads of the regions must take personal control of key issues related to the conduct of the state final certification,” the Deputy Prime Minister said.

    At the request of the Belgorod Region, in connection with the current situation, two additional days for exams were added to the Unified State Exam schedule: in mathematics – May 26, in Russian language – May 29. Graduates from the DPR, LPR, Kherson and Zaporizhia regions, individual schools in border regions, as well as children who moved from these regions, can take the final assessment in the form of an interim assessment.

    “We believe that the early period of the Unified State Exam was held in the normal mode. On May 23, the main stage of the Unified State Exam will begin in all 89 regions of Russia and 55 foreign countries. Traditionally, the exam procedure itself requires special control. For this purpose, over 300 thousand specialized specialists, more than 6 thousand medical workers and about 40 thousand public observers will be involved in the examination centers. Since 2024, on the instructions of President Vladimir Putin, graduates have the right to retake the Unified State Exam in one subject. This year, such retakes will take place on July 3 and 4,” said Dmitry Chernyshenko.

    All results of the State Final Attestation are necessarily entered into the federal information system.

    In conclusion, the Deputy Prime Minister paid special attention to the need to establish prompt interdepartmental cooperation with education authorities, the Ministry of Internal Affairs, the Ministry of Health, the Ministry of Energy, the Russian National Guard and the media for the smooth conduct of examination and admissions campaigns.

    “Our system is generally ready to conduct both the Unified State Exam and the Main State Exam. The main period of the OGE starts on May 21, and the main period of the USE starts on May 23. It is important that the order of the President of Russia on synchronizing programs and exam assignments has been fulfilled, they do not go beyond the educational program, and calendar-thematic planning has been included in the programs,” said Minister of Education Sergey Kravtsov.

    The head of the Ministry of Education noted that in 2025, an experiment to expand the availability of secondary vocational education will be conducted in Moscow, St. Petersburg and the Lipetsk region. By the end of May, the ministry will develop regulations for taking into account the results of control procedures (USE, OGE, VPR, diagnostic work) in the educational process. In June, the document will be sent to the subjects.

    The Minister of Education added that the share of those choosing the Unified State Exam in mathematical and natural science subjects will be 35% by 2030, with the planned figure for 2025 being 32%.

    Head of Rosobrnadzor Anzor Muzaev said that this year over 712 thousand people have registered to participate in the Unified State Exam, of which over 637 thousand are this year’s graduates. He focused the special attention of regional executive authorities on monitoring the technical readiness of all examination points, the readiness of the organizers, as well as ensuring the safety of all exam participants and those involved in their conduct.

    The head of Rosobrnadzor separately focused on this year’s changes. “This year, work was carried out to synchronize control measurement materials with federal state educational standards and federal educational programs. This is the President’s order, and it has been fulfilled,” said Anzor Muzaev.

    Rosobrnadzor also took into account a number of comments from members of the public and the deputy corps regarding the procedure for conducting the Unified State Exam. “We held a broad discussion and implemented these proposals in 2025. Rosobrnadzor’s methodological recommendations include detailed instructions for persons involved in admitting exam participants to exam points, as well as instructions for setting up stationary and portable metal detectors. We proposed actively involving parents of students, including representatives of parent committees, to monitor compliance with the rights of graduates during their admission and presence at exam points,” said Anzor Muzaev.

    Another innovation of the 2025 examination campaign is the ability to promptly report information about any violations in the Unified State Exam directly to Rosobrnadzor via the feedback platform on the public services portal. Each examination point has posters with a QR code, which can be used to send this information directly to a Rosobrnadzor employee so that any problems that arise are resolved as quickly as possible.

    Representatives of the Ministry of Health, the Ministry of Emergency Situations, the Ministry of Internal Affairs, the Russian National Guard and all regions of Russia also took part in the meeting. Representatives of border regions separately reported on their readiness to conduct the state final certification: Deputy Governor of the Belgorod Region – Minister of Education of the Belgorod Region Andrey Milekhin, Acting Deputy Chairman of the Government of the Kursk Region Oksana Krutko, Acting Deputy Governor of the Bryansk Region Denis Amelichev.

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  • MIL-OSI Russia: Financial news: On changes in the procedure for executing futures contracts on the Russian Market Volatility Index

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    Moscow Exchange reminds that on April 22, 2025, a new specification of futures contracts on the Russian Market Volatility Index came into force, according to which the procedure for executing these futures contracts will change.

    In accordance with the new version of the specification, the underlying asset of futures contracts is the Volatility Index of the Russian Market. Previously, the underlying asset was the volatility value, which was calculated based on the prices of two series of options on the RTS Index futures contract.

    Thus, the futures strike price is now determined as the arithmetic mean value of the RVI Index, calculated for the period from 14:05:15 to 18:05:00 inclusive.

    More detailed information is contained in the contract specification. on the Moscow Exchange website.

    Contact information for media 7 (495) 363-3232Pr@moex.kom

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