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Category: Trade

  • MIL-OSI USA: Venezuelan National and U.S. Citizen Arrested for Sanctions Evasion and Smuggling in Scheme to Supply Venezuela’s State-Owned Steel Industry

    Source: US State of California

    Defendants Allegedly Moved Millions Through Global Front Companies and Illegally Supplied Industrial Goods to Sanctioned Venezuelan Entities

    Note: View the criminal complaint.

    Juan Carlos Cairo-Padron, 56, of Huntsville, Texas, and Thomas Michael Fortinberry, 51, of Decatur, Alabama, were arrested on June 13, 2025 on a federal criminal complaint charging them with violating U.S. sanctions related to Venezuela, illegally smuggling goods from the United States, and money laundering. The defendants will make their initial court appearances in the Southern District of Texas today.

    According to the complaint, Cairo, a Venezuelan national and U.S. lawful permanent resident, and Fortinberry, a U.S. citizen, conspired for years to sell chemical catalysts, industrial equipment, and associated services to Venezuelan state-owned steel mills and petrochemical companies that are subject to U.S. sanctions. Cairo and Fortinberry’s scheme involved the use of U.S. and overseas front companies that served as intermediaries on shipping documents, foreign bank accounts that moved money into and out of the United States, and other activities designed to conceal the fact that the goods and services were destined for sanctioned entities.

    As alleged, from at least 2022 through the present, Cairo and Fortinberry — at times acting through companies that they owned or controlled such as DRI Reformers and Reformer Technologies — sold millions of dollars’ worth of catalysts, industrial equipment, and related services to the Venezuelan steel company Complejo Siderurgico de Guayana S.A. (COMSIGUA), which is owned by the Venezuelan government and is subject to U.S. sanctions. Cairo and Fortinberry used Chinese suppliers to ship the catalysts or industrial equipment directly from China to Venezuela, and in at least one instance, they shipped the goods from the United States to Venezuela. As part of their scheme, Cario and Fortinberry also transferred millions of dollars between bank accounts in the United States, Spain, and China — in transactions involving companies based in China, Germany, and Spain — all for the purpose of continuing their sanctions evasion scheme, and to conceal the true parties involved.

    If convicted, both Cairo and Fortinberry face a maximum penalty of 20 years in prison for the sanctions and money laundering violations, and 10 years in prison for the smuggling violation. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the Defense Criminal Investigative Service are investigating the case.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorneys S. Mark McIntyre and John Marck for the Southern District of Texas are prosecuting the case. Trial Attorney Christopher Magnani provided substantial assistance.

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

    June 17, 2025

  • MIL-OSI USA: Venezuelan National and U.S. Citizen Arrested for Sanctions Evasion and Smuggling in Scheme to Supply Venezuela’s State-Owned Steel Industry

    Source: US State of California

    Defendants Allegedly Moved Millions Through Global Front Companies and Illegally Supplied Industrial Goods to Sanctioned Venezuelan Entities

    Note: View the criminal complaint.

    Juan Carlos Cairo-Padron, 56, of Huntsville, Texas, and Thomas Michael Fortinberry, 51, of Decatur, Alabama, were arrested on June 13, 2025 on a federal criminal complaint charging them with violating U.S. sanctions related to Venezuela, illegally smuggling goods from the United States, and money laundering. The defendants will make their initial court appearances in the Southern District of Texas today.

    According to the complaint, Cairo, a Venezuelan national and U.S. lawful permanent resident, and Fortinberry, a U.S. citizen, conspired for years to sell chemical catalysts, industrial equipment, and associated services to Venezuelan state-owned steel mills and petrochemical companies that are subject to U.S. sanctions. Cairo and Fortinberry’s scheme involved the use of U.S. and overseas front companies that served as intermediaries on shipping documents, foreign bank accounts that moved money into and out of the United States, and other activities designed to conceal the fact that the goods and services were destined for sanctioned entities.

    As alleged, from at least 2022 through the present, Cairo and Fortinberry — at times acting through companies that they owned or controlled such as DRI Reformers and Reformer Technologies — sold millions of dollars’ worth of catalysts, industrial equipment, and related services to the Venezuelan steel company Complejo Siderurgico de Guayana S.A. (COMSIGUA), which is owned by the Venezuelan government and is subject to U.S. sanctions. Cairo and Fortinberry used Chinese suppliers to ship the catalysts or industrial equipment directly from China to Venezuela, and in at least one instance, they shipped the goods from the United States to Venezuela. As part of their scheme, Cario and Fortinberry also transferred millions of dollars between bank accounts in the United States, Spain, and China — in transactions involving companies based in China, Germany, and Spain — all for the purpose of continuing their sanctions evasion scheme, and to conceal the true parties involved.

    If convicted, both Cairo and Fortinberry face a maximum penalty of 20 years in prison for the sanctions and money laundering violations, and 10 years in prison for the smuggling violation. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the Defense Criminal Investigative Service are investigating the case.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorneys S. Mark McIntyre and John Marck for the Southern District of Texas are prosecuting the case. Trial Attorney Christopher Magnani provided substantial assistance.

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

    June 17, 2025

  • MIL-OSI Security: Venezuelan National and U.S. Citizen Arrested for Sanctions Evasion and Smuggling in Scheme to Supply Venezuela’s State-Owned Steel Industry

    Source: United States Attorneys General

    Defendants Allegedly Moved Millions Through Global Front Companies and Illegally Supplied Industrial Goods to Sanctioned Venezuelan Entities

    Note: View the criminal complaint.

    Juan Carlos Cairo-Padron, 56, of Huntsville, Texas, and Thomas Michael Fortinberry, 51, of Decatur, Alabama, were arrested on June 13, 2025 on a federal criminal complaint charging them with violating U.S. sanctions related to Venezuela, illegally smuggling goods from the United States, and money laundering. The defendants will make their initial court appearances in the Southern District of Texas today.

    According to the complaint, Cairo, a Venezuelan national and U.S. lawful permanent resident, and Fortinberry, a U.S. citizen, conspired for years to sell chemical catalysts, industrial equipment, and associated services to Venezuelan state-owned steel mills and petrochemical companies that are subject to U.S. sanctions. Cairo and Fortinberry’s scheme involved the use of U.S. and overseas front companies that served as intermediaries on shipping documents, foreign bank accounts that moved money into and out of the United States, and other activities designed to conceal the fact that the goods and services were destined for sanctioned entities.

    As alleged, from at least 2022 through the present, Cairo and Fortinberry — at times acting through companies that they owned or controlled such as DRI Reformers and Reformer Technologies — sold millions of dollars’ worth of catalysts, industrial equipment, and related services to the Venezuelan steel company Complejo Siderurgico de Guayana S.A. (COMSIGUA), which is owned by the Venezuelan government and is subject to U.S. sanctions. Cairo and Fortinberry used Chinese suppliers to ship the catalysts or industrial equipment directly from China to Venezuela, and in at least one instance, they shipped the goods from the United States to Venezuela. As part of their scheme, Cario and Fortinberry also transferred millions of dollars between bank accounts in the United States, Spain, and China — in transactions involving companies based in China, Germany, and Spain — all for the purpose of continuing their sanctions evasion scheme, and to conceal the true parties involved.

    If convicted, both Cairo and Fortinberry face a maximum penalty of 20 years in prison for the sanctions and money laundering violations, and 10 years in prison for the smuggling violation. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) and the Defense Criminal Investigative Service are investigating the case.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorneys S. Mark McIntyre and John Marck for the Southern District of Texas are prosecuting the case. Trial Attorney Christopher Magnani provided substantial assistance.

    A criminal complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

    June 17, 2025

  • MIL-OSI Security: Justice Department Declines Prosecution of Private Equity Firm Following Voluntary Disclosure of Sanctions Violations and Related Offenses Committed by Acquired Company

    Source: United States Attorneys General 7

    Department Credits Firm’s Swift Disclosure and Cooperation in Stopping Violations and Securing Former CEO’s Conviction

    Note: View a copy of the White Deer declination letter, Unicat non-prosecution agreement, and Mani Erfan’s plea agreement.

    The Justice Department’s National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (SDTX) today announced that they declined the prosecution of private equity firm White Deer Management LLC (White Deer) and its affiliates after the firm discovered and voluntarily self-disclosed criminal violations of U.S. sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies LLC (Unicat).

    NSD and SDTX also announced that the Justice Department entered into a non-prosecution agreement (NPA) with Unicat, and that, on Aug. 19, 2024, the former chief executive officer (CEO) and co-founder of Unicat, Mani Erfan, pleaded guilty to conspiring to violate U.S. sanctions against Iran and other countries and foreign governments, as well as concealment and international promotional money laundering. As part of his plea, Erfan also agreed to pay a money judgment in the amount of $1,600,000.

    “After acquiring a company with a hidden history of sanctions violations, this private equity firm uncovered the misconduct, stopped it, and quickly reported it to the government, leading to the successful prosecution of a senior executive,” said Assistant Attorney General for National Security John A. Eisenberg. “Our decision to decline prosecution of the acquiror and extend a non-prosecution agreement to the acquired entity in this case reflects the National Security Division’s strong commitment to rewarding responsible corporate leadership.”

    “Illegally exporting sensitive items to Venezuela and Iran to help them evade sanctions directly undermines U.S. foreign policy and threatens our national security,” said Special Agent in Charge Chad Plantz of Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) Houston. “HSI will not sit by idly while businesses or individuals operating in the U.S. blatantly help our nation’s adversaries procure sensitive technologies or weapons and today’s announcement of a $3 million fine and the imposition of criminal charges is just another example of that enduring commitment.”

    As detailed in court documents and in the Department’s agreements with White Deer and Unicat, from approximately 2014 through 2021, Mani Erfan, Unicat’s former CEO, conspired with others, including at least one other Unicat employee, to cause Unicat to submit bids and make sales to customers in Iran, Venezuela, Syria, and Cuba in violation of U.S. economic sanctions. In total, Erfan caused Unicat to make a total of 23 unlawful sales of chemical catalysts used in oil refining and steel production to customers in Iran, Venezuela, and Cuba. Some of the sales were effected through exports of catalysts from the United States and further violated U.S. export control laws.

    To further the conspiracy, the conspirators made false statements in export documents and financial records about the true identities and locations of Unicat’s customers and falsely assured some Unicat employees that the company’s business with customers subject to U.S. economic sanctions was lawful. Unicat obtained approximately $3.33 million in revenue from its unlawful sales.

    Erfan and Unicat employees additionally falsified invoices to reduce the tariffs assessed on catalysts that Unicat imported from China. By undervaluing these imports, Unicat caused a loss of revenue of approximately $1.66 million in duties, taxes, and fees. Further, during negotiations to sell Unicat to White Deer, Unicat’s prior owners provided representations and warranties to White Deer attesting to Unicat’s compliance with U.S. sanctions and export control laws.

    The scheme came to light in June 2021, in the midst of the COVID-19 pandemic, after White Deer acquired Unicat and a second company based in the United Kingdom, and Unicat’s new CEO was able to travel to the United States to visit Unicat and begin to integrate the operations of the company. During his visit, the new CEO learned that Unicat had a pending transaction with an Iranian customer and immediately ordered the deal’s cancellation. Over the next month, White Deer and Unicat’s new CEO retained counsel to investigate, and learned that Unicat had engaged in a series of transactions with counterparties subject to different U.S. sanctions programs. Before the investigation was complete, but after determining that Unicat employees had engaged in potentially criminal violations of U.S. sanctions laws, White Deer and Unicat’s new management submitted a voluntary self-disclosure to NSD.

    Pursuant to the NPA, Unicat agreed to pay forfeiture totaling $3,325,052.10, representing the proceeds of its violations of U.S. sanctions and export control laws. In parallel resolutions coordinated between the Justice Department, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Commerce Department’s Bureau of Industry and Security (BIS) Office of Export Enforcement (OEE), Unicat agreed to pay $3,882,797 to OFAC for its apparent violations of U.S. sanctions laws, and agreed with OEE to pay a penalty of $391,183 for its violation of U.S. export control laws. OFAC agreed to credit Unicat’s payment of forfeiture pursuant to the NPA against the OFAC penalty, and OEE has agreed to credit Unicat’s payment to OFAC against the OEE penalty. In a separate administrative resolution with U.S. Customs and Border Protection, Unicat agreed to pay $1,655,189.57, in underpaid duties, taxes, and fees.

    NSD and SDTX declined White Deer’s prosecution and entered into the NPA with Unicat after considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations, the National Security Division Enforcement Policy for Business Organizations (NSD Enforcement Policy), and pursuant to the provisions of the NSD Enforcement Policy that apply to Voluntary Self-Disclosures in Connection with Acquisitions (the NSD M&A Policy).

    The NSD M&A Policy provides that when a company (1) completes a lawful bona fide acquisition of another entity, (2) voluntarily and timely self-discloses to NSD potentially criminal violations of laws affecting U.S. national security committed by the acquired entity, (3) fully cooperates with NSD’s investigation, and (4) timely and appropriately remediates the misconduct, NSD generally will not seek a guilty plea from the acquiror, and there is a presumption that NSD will decline to prosecute the acquiror. The NSD M&A Policy further provides that while a presumption of declination is not available to the acquired entity, NSD will credit the acquiror’s timely voluntary self-disclosure to the acquired entity and will consider whether the acquired entity otherwise satisfies the NSD Enforcement Policy’s requirements to obtain the benefits of the Policy.

    NSD and SDTX determined that White Deer’s acquisition of Unicat was a lawful bona fide acquisition, and that White Deer’s self-disclosure was timely under all of the relevant circumstances, including the COVID-19 pandemic and in the context of White Deer’s acquisition of Unicat and efforts to integrate the company’s operations into another acquired entity. White Deer and Unicat fully cooperated with the government’s subsequent investigation by proactively identifying, collecting, and disclosing relevant evidence to investigators, including foreign language evidence and evidence located overseas, and providing detailed and timely responses to the government’s requests for information and evidence. White Deer’s and Unicat’s cooperation materially assisted the government’s investigation, leading to the successful prosecution of Unicat’s former CEO. Unicat remediated the root cause of the misconduct in less than one year from the date of its discovery by terminating culpable employees, disciplining other employees involved in the misconduct, seeking reimbursement from Unicat’s sellers, and designing and implementing a comprehensive and robust internal controls and compliance program that has proven effective in practice at identifying and preventing similar potential misconduct.

    This resolution marks the first time since the creation of the Justice Department’s Mergers and Acquisitions Policy in March 2024 that the Department has declined the prosecution of an acquiror for self-disclosing criminal conduct discovered at an acquired entity.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorney S. Mark McIntyre for the Southern District of Texas prosecuted the case.

    ICE-HSI, the Defense Criminal Investigative Service, and BIS investigated the case.

    MIL Security OSI –

    June 17, 2025

  • MIL-OSI Banking: Services Council spotlights good regulatory practices, advances discussions on other issues

    Source: WTO

    Headline: Services Council spotlights good regulatory practices, advances discussions on other issues

    On 10 June, members also participated in an event under the “Simply Services” series, which serves as an informal platform for sharing the latest developments in trade in services (see below).
    Thematic session on good regulatory practices
    An informal thematic session on good regulatory practices (GRPs) was held on 12-13 June, as agreed at the March meeting of the Council for Trade in Services. GRPs for services trade refer to approaches to designing and implementing regulations aimed at achieving better regulatory outcomes. Discussions focused on measures such as increased transparency, including through stakeholder engagement, streamlining and digitalizing authorization processes, and promoting impartial and independent regulatory decision-making.
    The session featured extensive experience-sharing. The WTO Secretariat provided a broad overview of GRPs in services trade, including their role in regional trade agreements and their economic benefits. International organizations and regional economic fora — including the Organisation for Economic Co-operation and Development (OECD), the World Bank, United Nations Trade and Development (UNCTAD), the Asia-Pacific Economic Cooperation (APEC), the Association of Southeast Asian Nations (ASEAN) Secretariat, and the International Trade Centre (ITC) — shared data demonstrating how effective design and implementation of GRPs can boost both trade and economic growth. They also emphasized the importance of addressing implementation gaps between high- and low-income countries through capacity building, institutional strengthening, and more inclusive stakeholder engagement.
    Several members, including Australia, China, the European Union, Hong Kong China, the Philippines, the Republic of Korea, and the United Kingdom, as well as other organizations, presented national experiences in leveraging GRPs to facilitate services trade. They highlighted domestic reforms to simplify procedures, reduce regulatory burdens, and improve regulatory quality, including through digital tools, single online portals, regulatory impact assessments, and enhanced stakeholder engagement. The importance of predictability, proportionality, inter-agency coordination, and outcome-focused regulation was underscored, alongside efforts to foster innovation, facilitate cross-border trade, and strengthen regulatory cooperation.
    Members reflected on the key takeaways from the session, emphasizing the rich discussions and valuable insights shared. Several noted that GRPs not only support international trade but also enhance domestic competitiveness and consumer welfare. The role of GRPs in strengthening crisis preparedness and resilience was also emphasized, with examples showing how transparent, predictable and streamlined regulatory frameworks can support faster and more effective responses in times of emergency.
    There was broad recognition of the role that international commitments, such as WTO members’ recent adoption of disciplines on services domestic regulation and regional trade agreements, play in providing a stable framework for consolidating domestic reforms aimed at improving the domestic business environment. Members expressed interest in continuing experience-sharing and peer learning. They also encouraged other members to adopt WTO disciplines on services domestic regulation to sustain reform efforts and promote services trade. 
    At the close of the session, the Chair of the Council for Trade in Services, H.E. Ambassador Ram Prasad Subedi (Nepal), emphasized that the depth and quality of GRP implementation by ministries and regulatory authorities is essential, with regulatory reforms representing an ongoing process informed by experience, evolving capacities and changing circumstances. He underlined the value of peer learning and regular exchanges on regulatory innovation, as well as the role that technical assistance can play in supporting members’ reform efforts.
    Responding to ministerial mandates
    Members continued efforts to advance the instruction in the 2024 Ministerial Declaration to reinvigorate work on trade in services and facilitate greater participation of developing members in services trade.
    The African, Caribbean and Pacific (ACP) Group introduced a submission on the role of services trade in responding to crises and resilience-building, as well as on the challenges faced by developing members in realizing the full potential of services trade. Members supported deepening work on the ACP Group’s proposal, with some suggesting a thematic session for further discussions.
    Barbados, South Africa, and the United Kingdom also presented a proposal for a thematic session on the green services economy and sustainable development. Members agreed in principle to organize an informal experience-sharing session in December, contingent on agreeing on an acceptable outline, to further explore the opportunities and challenges of leveraging services trade to deliver on environmental objectives. Suggestions were made on possible topics and speakers.
    As previously agreed at the March meeting, the Council is scheduled to organise an informal thematic session on the recognition of professional qualifications in October, subject to convergence on the session’s outline.
    Participation of least-developed countries in services trade
    Members received an update by the WTO Least Developed Countries (LDC) Group regarding its request to conduct a survey, hosted on the WTO website, to collect information on how their service suppliers engage with consumers and businesses in other economies. The LDC Group reported on ongoing consultations with a member who has maintained reservations about the request since the March meeting.
    The Group reaffirmed the importance of the survey in supporting LDCs’ participation in services trade, in line with the ministerial mandate to operationalize the “LDC Services Waiver,” adopted at the 8th Ministerial Conference in 2011.
    Engagement between the members concerned will continue to reach consensus on the issue.
    Services trade concerns
    The Council addressed issues related to recent unilateral tariff measures. China noted the need to consider overall trade balances, that include services trade, when setting trade policy. It also expressed concerns about the impact of US “reciprocal” tariffs on global supply chains and underscored the importance of multilateral collaboration under the WTO. The latter point in particular was echoed by other members. The United States said that, in contrast to the openness of its service markets, China maintained many restrictions and uncompetitive practices in numerous services sectors.
    Members also reverted to previously raised specific trade concerns. Japan and the United States repeated their concerns over cybersecurity measures implemented by China and Viet Nam, with several members echoing these concerns.
    China reiterated its concerns regarding certain US services measures and India’s measures affecting mobile applications.
    Trade in financial services
    On 11 June, the Committee on Trade in Financial Services appointed Mr. Will Nixon of Australia as its new Chair.
    Members focused on a proposal to organize an informal thematic session on “Facilitating Digital Payment Systems and Remittance Services”, building on the original proposal submitted by China, India, Pakistan, and the Philippines, which was first reviewed at the March meeting. The proposal covers three main topics: developing robust digital payment systems, ensuring interoperability of payment systems, and facilitating cross-border remittances.
    The Committee agreed to consider the latest version of the draft agenda put forward by China and the Philippines. Unless any objections are raised by 20 June 2025, the proposal will be automatically adopted. If approved, the session will take place alongside the next cluster of services meetings scheduled for 29 September to 3 October.
    The Committee also discussed a new submission by Morocco (S/FIN/W/103) on reducing the costs of cross-border remittances. Morocco emphasized the strategic importance of remittances for the economic and social development of developing members and called for multilateral cooperation to improve remittance transfers, reduce costs, and enhance transparency. It also expressed its intent to bring this issue to the 14th Ministerial Conference (MC14) in March 2026. Members agreed to continue discussions at the next Committee meeting.
    Classification of environmental services
    At its 11 June meeting, the Committee on Specific Commitments confirmed Mr. Sirapat Vajraphai of Thailand as its new Chair. The Committee is one of the subsidiary bodies of the Services Council.
    Discussions focused on the classification of environmental services. Building on previous discussions regarding the Agreement on Climate Change, Trade and Sustainability (ACCTS) and its contributions to defining and classifying environmental services, the United Kingdom presented its new analysis (S/CSC/W/80), comparing the APEC Reference List and the ACCTS List. Delegates welcomed the UK’s analysis as a valuable foundation for further work and expressed interest in continued engagement on this issue.
    Members also revisited Canada’s proposal (S/CSC/W/77) for an informal experience-sharing session on services classification related to the environment. They agreed to hold the session in October alongside the next services cluster of meetings.
    Recent developments in services trade policy
    An event held on 12 June, entitled “Services Unbound — Digital Technologies and Policy Reform in East Asia and the Pacific,” addressed the region’s challenges, particularly barriers to competition in key services that hinder innovation. Participants also called for deeper domestic reforms and stronger international cooperation.
    The event was organized by the WTO’s Trade in Services and Investment Division as part of the “Simply Services” speaker series, an informal platform for sharing the latest information on services trade trends. The webcast of the event is available here.

    Share

    MIL OSI Global Banks –

    June 17, 2025

  • MIL-OSI Banking: Japan gives CHF 105,000 to support trade capacity-building in developing economies

    Source: World Trade Organization

    The Global Trust Fund finances trade-related technical assistance in areas such as market access, trade facilitation, services and agriculture. The objective is to help participants better understand WTO agreements and participate more effectively in global trade negotiations.

    WTO Director-General Ngozi Okonjo-Iweala said: “We are grateful for Japan’s continued partnership, which reflects its longstanding commitment to supporting the multilateral trading system and capacity-building efforts for developing countries and LDCs. This contribution will help officials enhance their skills to better support their economies’ effective participation in global trade and to leverage international markets in pursuit of new opportunities for sustainable growth and job creation.”

    Japan’s Ambassador and Deputy Permanent Representative to the WTO, Mr. Naoki Hikota, said: “Japan’s long-standing support for the Global Trust Fund reflects our firm belief in the essential role the rules-based multilateral trading system plays in providing stability, predictability, and inclusive growth. By contributing to technical assistance and capacity-building, we aim to strengthen the ability of developing and least-developed country Members to implement the WTO Agreements and thereby support their complementing policies for sustainable development. It is our strong conviction that expanding their capacity to fully participate in the multilateral trading system will create more opportunities to reap the benefits of global trade.”

    Since 2002, Japan has contributed over CHF 12.8 million to the WTO Global Trust Fund and other WTO trust funds.

    MIL OSI Global Banks –

    June 17, 2025

  • MIL-OSI: BitMart Unleashes Futures King Trading Tournament: $232,000 USDT Up for Grabs in Summer Showdown

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles , June 16, 2025 (GLOBE NEWSWIRE) — BitMart, a leading global cryptocurrency exchange, has launched the Futures King Trading Tournament, an electrifying summer event where futures traders have the opportunity to share in a staggering $232,000 USDT prize pool. Running from June 12 to July 9, 2025 (UTC), this trading tournament is set to heat up the crypto scene with daily, weekly, and monthly reward opportunities for traders of all levels.

    Get Rewarded Just for Showing Up – Sunshine Award
    Participants who register and trade at least 1,000 USDT in futures are guaranteed a reward opportunity through the Sunshine Award, with blind box bonuses of up to 100 USDT. With a dedicated prize pool of 50,000 USDT, this is BitMart’s way of welcoming all traders to the competition.

    Leaderboards That Pay – Multiple Paths to Earn Bonuses
    The Futures King Trading Tournament features multiple leaderboard categories designed to reward performance, consistency, and strategy. With generous bonus pools available, traders have several ways to earn throughout the event:

    • Daily Trading Rank: Participants who trade 30,000 USDT or more in a single day can enter the daily leaderboard. Top traders may receive up to 225 USDT per day, with a total of 6,300 USDT distributed over the campaign.
    • Weekly Trading Rank: By reaching a weekly trading volume of 100,000 USDT or more, traders become eligible for the weekly leaderboard rewards. Depending on total activity, the weekly bonus pool can reach as high as 42,000 USDT.
    • Monthly Trading Rank: Those who trade at least 200,000 USDT during the campaign can qualify for monthly rewards. The monthly prize pool may reach up to 68,600 USDT, offering top performers significant bonus potential.
    • Monthly ROI Rank: For traders focused on returns, the ROI leaderboard highlights those with 10,000 USDT in volume and a positive ROI. The top reward opportunities extend up to 5,880 USDT.

    Exclusive Bonus for VIP Climbers
    BitMart is also offering a VIP Tier Upgrade Bonus during the event. Traders who level up their VIP status through futures activity can claim additional rewards of 100–200 USDT bonus, credited as a futures trading bonus.

    How to Join

    1. Head over to the official event page.
    2. Click [Join Now] to register.
    3. Start trading futures — USDT-M, Coin-M, or via Copy Trading — to qualify.

    Participation in this campaign is subject to terms and conditions. Restrictions apply in certain countries and regions.

    About BitMart
    BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. To learn more about BitMart, visit their Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    Disclaimer: Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results. The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.

    The MIL Network –

    June 17, 2025

  • MIL-OSI: Imperial Petroleum Inc. Declares Dividend on Series A Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    ATHENS, Greece, June 16, 2025 (GLOBE NEWSWIRE) — Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Shares”), payable on June 30, 2025 to holders of record as of June 25, 2025. The dividend payment relates to the period from the last dividend payment date for the Series A Preferred Shares on March 30, 2025, through June 29, 2025.

    There are 795,878 Series A Preferred Shares outstanding as of the date hereof. The Series A Preferred Shares trade on the Nasdaq Capital Market under the ticker symbol “IMPPP.”

    ABOUT IMPERIAL PETROLEUM INC.

    IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of seventeen vessels on the water – seven M.R. product tankers, two suezmax tankers, three handysize drybulk carriers, three supramax drybulk carriers and two kamsarmax drybulk vessels – with a total capacity of 1,082,800 deadweight tons (dwt), and has contracted to acquire an additional two supramax drybulk carriers of 111,200 dwt aggregate capacity. Following these deliveries, the Company’s fleet will count a total of 19 vessels with an aggregate capacity of 1.2 million dwt. IMPERIAL PETROLEUM INC.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP,” respectively.

    Forward-Looking Statements

    Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs and other protectionist measures imposed by the United States or other countries, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, changes in IMPERIAL PETROLEUM INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflicts in the Middle East, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.

    Company Contact:

    Fenia Sakellaris

    IMPERIAL PETROLEUM INC.

    E-mail: info@imperialpetro.com

    The MIL Network –

    June 17, 2025

  • MIL-OSI: Imperial Petroleum Inc. Declares Dividend on Series A Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    ATHENS, Greece, June 16, 2025 (GLOBE NEWSWIRE) — Imperial Petroleum Inc. (Nasdaq: IMPP) (the “Company”), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Shares”), payable on June 30, 2025 to holders of record as of June 25, 2025. The dividend payment relates to the period from the last dividend payment date for the Series A Preferred Shares on March 30, 2025, through June 29, 2025.

    There are 795,878 Series A Preferred Shares outstanding as of the date hereof. The Series A Preferred Shares trade on the Nasdaq Capital Market under the ticker symbol “IMPPP.”

    ABOUT IMPERIAL PETROLEUM INC.

    IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of seventeen vessels on the water – seven M.R. product tankers, two suezmax tankers, three handysize drybulk carriers, three supramax drybulk carriers and two kamsarmax drybulk vessels – with a total capacity of 1,082,800 deadweight tons (dwt), and has contracted to acquire an additional two supramax drybulk carriers of 111,200 dwt aggregate capacity. Following these deliveries, the Company’s fleet will count a total of 19 vessels with an aggregate capacity of 1.2 million dwt. IMPERIAL PETROLEUM INC.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP,” respectively.

    Forward-Looking Statements

    Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs and other protectionist measures imposed by the United States or other countries, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, changes in IMPERIAL PETROLEUM INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflicts in the Middle East, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.

    Company Contact:

    Fenia Sakellaris

    IMPERIAL PETROLEUM INC.

    E-mail: info@imperialpetro.com

    The MIL Network –

    June 17, 2025

  • MIL-OSI Canada: Saskatchewan Housing Starts See Remarkable 108.6 Per Cent Growth

    Source: Government of Canada regional news

    Released on June 16, 2025

    Figures Show Strong Gains, Ranking Province First in the Nation 

    Today, Canada Mortgage and Housing Corporation released new data showing urban housing starts in Saskatchewan increased by 108.6 per cent in the first five months of 2025 compared to the same period in 2024. This places the province 1st in the nation for growth in this area.

    “Saskatchewan’s economy continues to show positive momentum and investor confidence,” Trade and Export Development Minister Warren Kaeding said. “More homes are being built, and more people are living and working across the province than ever before.”

    In May 2025, urban housing starts across the province increased by 205.9 per cent over May 2024, placing Saskatchewan 2nd among the provinces for year-over-year growth.

    Within that total, housing starts on single family homes were up 63.7 per cent, while multi-unit residential construction increased by 617.9 per cent compared to May 2024.

    Housing starts refers to the number of housing projects that started that month.

    The provincial economy continues to see substantial growth. Statistics Canada’s latest GDP numbers indicate that Saskatchewan’s 2024 real GDP reached an all-time high of $80.5 billion, increasing by $2.6 billion, or 3.4 per cent. This ranks Saskatchewan second in the nation for real GDP growth, and above the national average of 1.6 per cent.

    Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.

    Last year, the Government of Saskatchewan unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy, combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.

    For more information, visit: InvestSK.ca.

    -30-

    For more information, contact:

    MIL OSI Canada News –

    June 17, 2025

  • MIL-OSI Canada: One Hundred High School Students Awarded the Saskatchewan Youth Apprenticeship Industry Scholarship

    Source: Government of Canada regional news

    Released on June 16, 2025

    One hundred graduating high school students from across the province have been awarded the Saskatchewan Youth Apprenticeship (SYA) Industry Scholarship. The scholarships, presented by the Saskatchewan Apprenticeship and Trade Certification Commission (SATCC), recognize students committed to pursuing careers in the skilled trades. 

    “Congratulations to this year’s scholarship recipients,” Deputy Premier and Immigration and Career Training Minister Jim Reiter said. “The Government of Saskatchewan is proud to support your path to a successful career in the skilled trades. Our government understands how critical skilled trades are to the success and growth of Saskatchewan and is committed to ensuring everyone in the province has the opportunity to pursue these important and rewarding careers.”

    Each year, SYA Champions – the educators who oversee the SYA program in their schools – are invited to nominate at least one graduating student enrolled in the program who is pursuing a career in the skilled trades after high school. A selection committee of SATCC staff members chooses the winners based on students’ responses in the nomination form. Students outline how SYA has benefitted them; their current experiences with the skilled trades; and their education and career plans following graduation. 

    SYA Industry Scholarships are unique – students redeem them for $1,000 within two years of graduation by actively embarking on a career in the skilled trades, either by registering as an apprentice and completing Level 1 technical training or by completing a pre-employment course in a trade designated in Saskatchewan. 

    One of the recipients, Tia Kingdon, is graduating from Rocanville School this year. Kingdon discovered her passion for the skilled trades through a career and work exploration class through her high school and plans to apprentice as a Construction Electrician. 

    “In Grade 11, I did a career and work exploration credit [with an electrical company], and it was such a great experience,” she said. “[It] proved that entering the workforce in an apprenticeship program is how I would like to begin my career.”

    To complete SYA, students work through 12 challenges – everything from interviewing a journeyperson to researching and writing a report on a designated trade to outlining the steps to journeyperson certification. All students who complete SYA and register as apprentices in Saskatchewan within five years receive significant benefits: 300 trade hours, plus the waiver of their apprenticeship registration fee and Level 1 technical training tuition. 

    “Graduates of the SYA program learn about the benefits and opportunities that come with careers in the skilled trades, as well as gain valuable benefits when they register as apprentices,” SATCC CEO Jeff Ritter said. “The SYA Industry Scholarship recipients have worked hard to demonstrate they are committed to pursuing apprenticeship and the skilled trades after graduation.”

    Since the scholarship’s launch in 2009, more than 1,400 awards have been issued. Funding has been provided by 59 industry sponsors, including employers, industry associations and unions, alongside the Government of Saskatchewan. To date, $1.2 million has been invested in the SYA Industry Scholarship fund. 

    More than 3,100 students are currently enrolled in the SYA program province-wide. 

    For more information on the SYA program, please visit: saskapprenticeship.ca/sask-youth-apprenticeship. 

    -30-

    For more information, contact:

    MIL OSI Canada News –

    June 17, 2025

  • MIL-OSI: Siili Solutions Plc: Share Repurchase 16.6.2025

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc       Announcement  16.6.2025
         
         
    Siili Solutions Plc: Share Repurchase 16.6.2025  
         
    In the Helsinki Stock Exchange    
         
    Trade date           16.6.2025  
    Bourse trade         Buy  
    Share                  SIILI  
    Amount             1 100 Shares
    Average price/ share    6,2582 EUR
    Total cost            6 884,02 EUR
         
         
    Siili Solutions Plc now holds a total of 12 498 shares
    including the shares repurchased on 16.6.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
    On behalf of Siili Solutions Plc    
         
    Nordea Bank Oyj    
         
    Sami Huttunen Ilari Isomäki  
         
    Further information:    
    CFO Aleksi Kankainen    
    Email: aleksi.kankainen@siili.com    
    Tel. +358 50 584 2029    
         
    www.siili.com    
         
         
         
         

    Attachment

    • SIILI 16.6.2025 Trades

    The MIL Network –

    June 17, 2025

  • MIL-OSI: Siili Solutions Plc: Share Repurchase 16.6.2025

    Source: GlobeNewswire (MIL-OSI)

    Siili Solutions Plc       Announcement  16.6.2025
         
         
    Siili Solutions Plc: Share Repurchase 16.6.2025  
         
    In the Helsinki Stock Exchange    
         
    Trade date           16.6.2025  
    Bourse trade         Buy  
    Share                  SIILI  
    Amount             1 100 Shares
    Average price/ share    6,2582 EUR
    Total cost            6 884,02 EUR
         
         
    Siili Solutions Plc now holds a total of 12 498 shares
    including the shares repurchased on 16.6.2025  
         
    The share buybacks are executed in compliance with Regulation 
    No. 596/2014 of the European Parliament and Council (MAR) Article 5
    and the Commission Delegated Regulation (EU) 2016/1052.
         
    On behalf of Siili Solutions Plc    
         
    Nordea Bank Oyj    
         
    Sami Huttunen Ilari Isomäki  
         
    Further information:    
    CFO Aleksi Kankainen    
    Email: aleksi.kankainen@siili.com    
    Tel. +358 50 584 2029    
         
    www.siili.com    
         
         
         
         

    Attachment

    • SIILI 16.6.2025 Trades

    The MIL Network –

    June 17, 2025

  • MIL-OSI USA: Hoeven Working with Interior Secretary, USFS Chief to Improve Grazing Access on Federal Lands

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven

    06.13.25

    WASHINGTON – Senator John Hoeven this week outlined priorities to improve access to federal lands for grazers in discussions with Interior Secretary Doug Burgum and U.S. Forest Service (USFS) Chief Tom Schultz. During hearings of the Senate Energy and Natural Resources Committee and the Senate Interior Appropriations Committee, respectively, Hoeven:

    • Outlined the need to streamline the process for issuing grazing permits.
    • Discussed efforts to update the Little Missouri National Grassland Travel Management Plan.
      • Hoeven secured a commitment from Schultz to work with North Dakota Agriculture Commissioner Doug Goehring and local grazing associations during this process.
      • The senator stressed the importance of ensuring the plan works for grazers, who need reliable access to federal lands for their operations.
      • To this end, Hoeven also urged Schultz to work with him on making section line rights-of-way available so ranchers can access their cattle in the Little Missouri National Grasslands.
    • Encouraged Schultz to continue working with him on better managing pests in the national grasslands, including prairie dogs and noxious weeds.
      • Hoeven highlighted his previous work with USFS Deputy Chief Chris French on efforts to address noxious weeds on the Dakota Prairie Grasslands and urged Schultz to maintain these efforts.

    “We’ve had a tremendous partnership with USFS Deputy Chief French who has worked with us to address our priorities for the national grasslands, like noxious weed control. This week’s hearings were an opportunity to keep these initiatives moving forward, ensure these federal acres are properly managed and improve access for grazing,” said Hoeven. “Importantly, Chief Schultz has committed to consult with our grazers and Ag Commissioner Goehring as the Travel Management Plan for the Little Missouri National Grassland is updated. That’s a critical part of our work to make sure we have rancher-friendly policies in place that strengthen access to the vast federal acreage in North Dakota.”

    MIL OSI USA News –

    June 17, 2025

  • MIL-OSI USA: Hoeven Working with Interior Secretary, USFS Chief to Improve Grazing Access on Federal Lands

    US Senate News:

    Source: United States Senator for North Dakota John Hoeven

    06.13.25

    WASHINGTON – Senator John Hoeven this week outlined priorities to improve access to federal lands for grazers in discussions with Interior Secretary Doug Burgum and U.S. Forest Service (USFS) Chief Tom Schultz. During hearings of the Senate Energy and Natural Resources Committee and the Senate Interior Appropriations Committee, respectively, Hoeven:

    • Outlined the need to streamline the process for issuing grazing permits.
    • Discussed efforts to update the Little Missouri National Grassland Travel Management Plan.
      • Hoeven secured a commitment from Schultz to work with North Dakota Agriculture Commissioner Doug Goehring and local grazing associations during this process.
      • The senator stressed the importance of ensuring the plan works for grazers, who need reliable access to federal lands for their operations.
      • To this end, Hoeven also urged Schultz to work with him on making section line rights-of-way available so ranchers can access their cattle in the Little Missouri National Grasslands.
    • Encouraged Schultz to continue working with him on better managing pests in the national grasslands, including prairie dogs and noxious weeds.
      • Hoeven highlighted his previous work with USFS Deputy Chief Chris French on efforts to address noxious weeds on the Dakota Prairie Grasslands and urged Schultz to maintain these efforts.

    “We’ve had a tremendous partnership with USFS Deputy Chief French who has worked with us to address our priorities for the national grasslands, like noxious weed control. This week’s hearings were an opportunity to keep these initiatives moving forward, ensure these federal acres are properly managed and improve access for grazing,” said Hoeven. “Importantly, Chief Schultz has committed to consult with our grazers and Ag Commissioner Goehring as the Travel Management Plan for the Little Missouri National Grassland is updated. That’s a critical part of our work to make sure we have rancher-friendly policies in place that strengthen access to the vast federal acreage in North Dakota.”

    MIL OSI USA News –

    June 17, 2025

  • MIL-OSI USA: Federal Court Orders Texas Firm to Pay Over $100 Million to Customers Defrauded in Cattle Fraud Scheme

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced the U.S. District Court for the Northern District of Texas entered a final judgment and consent order imposing a permanent injunction and equitable remedies against Agridime LLC, a Texas firm now in receivership. 
     
    The consent order requires Agridime to pay $102,936,904 in restitution and permanently enjoins Agridime from engaging in conduct that violates the Commodity Exchange Act and CFTC regulations, as charged, and permanently bans Agridime from registering with the CFTC and from solicitating and trading in any CFTC-regulated markets. 
     
    The consent order further states the restitution obligation shall be satisfied by the collection efforts and resulting distributions by the receiver appointed in the parallel SEC action to defrauded customers. [SEC v. Agridime LLC, et al., 4:23-cv-01224-P (N.D. Tex. Dec. 11, 2023)].
     
    The CFTC also announced the court entered a final judgment by default against Agridime’s co-founders, Joshua Link and Jed Wood. The default judgment orders Link to pay disgorgement of $815,327.92 and Wood to pay disgorgement of $1,472,127.92. These disgorgement amounts represent gains received, respectively, by Link and Wood in connection with the violations alleged in the CFTC’s May 2024 complaint. [See CFTC Press Release No. 8911-24]. The default judgment further states that Link and Wood shall make payments of their disgorgement obligations, and any post-judgment interest payments, to the receiver for distribution to defrauded customers. The default judgment also permanently enjoins Link and Wood from further violating the CEA and CFTC regulations, as charged, and imposes trading and registration bans.
     
    The CFTC cautions that orders requiring repayment of funds to victims may not result in the recovery of any money lost because the wrongdoers may not have sufficient funds or assets. The CFTC will continue to fight vigorously for the protection of customers and to ensure the wrongdoers are held accountable.
     
    Case Background
    The consent order and default judgment stem from a CFTC complaint filed against the defendants Agridime, Link, and Wood in May 2024.  [See CFTC Press Release No. 8911-24]. The complaint alleged the defendants engaged in a scheme to defraud customers by soliciting, accepting, and using customer funds to pay other customers in the nature of a Ponzi scheme, rather than for the purposes Agridime said the funds would be used, in connection with contracts of sale of a commodity in interstate commerce (i.e., the customer’s purchase of cattle). 
     
    According to the complaint, Agridime represented that customers’ funds would be used only for the purchase, raising, and feeding of the purchased cattle. Instead, because Agridime did not buy the number of cattle required to fulfill its obligations under the livestock contracts, Agridime had to use  recently collected customers’ funds to pay the guaranteed profits of earlier customers. In addition, as further alleged in the complaint, customers’ funds were also used to pay millions in undisclosed commissions to Agridime personnel, including Link and Wood.  Link’s and Wood’s disgorgement obligations are based on the gains they received in connection with their fraud, including undisclosed commissions.
     
    The Division of Enforcement thanks the Fort Worth Regional Office of the Securities and Exchange Commission and the Arizona Corporation Commission’s Securities Division, for their assistance in this matter. 
     
    The Division of Enforcement staff responsible for this case are Janine Gargiulo, Nicole Buseman, Judith M. Slowly, Trevor Kokal, Lenel Hickson, Jr., Manal M. Sultan, Charles D. Marvine, and former employee David W. MacGregor.
     
    * * * * * *
    CFTC’s Fraud Advisories
     
    The CFTC has issued several customer protection advisories and articles, including information about forex, precious metals, and romance scams. Visit CFTC.gov to read more about these highly prevalent frauds.
     
    The CFTC also strongly urges the public to verify a company’s registration with the CFTC before committing funds. If unregistered, a customer should be wary of providing funds to that entity. A company’s registration status can be found using NFA BASIC.
     
    Customers and other individuals can report suspicious activities or information, such as possible violations of commodity trading laws, to the Division of Enforcement via a toll-free hotline 866-FON-CFTC (866-366-2382) or file a tip or complaint online or contact the Whistleblower Office. Whistleblowers may be eligible to receive between 10 and 30 percent of the monetary sanctions collected, paid from the Customer Protection Fund financed through monetary sanctions paid to the CFTC by violators of the CEA.

    MIL OSI USA News –

    June 17, 2025

  • MIL-OSI USA: Federal Court Orders Texas Firm to Pay Over $100 Million to Customers Defrauded in Cattle Fraud Scheme

    Source: US Commodity Futures Trading Commission

    WASHINGTON, D.C. — The Commodity Futures Trading Commission today announced the U.S. District Court for the Northern District of Texas entered a final judgment and consent order imposing a permanent injunction and equitable remedies against Agridime LLC, a Texas firm now in receivership. 
     
    The consent order requires Agridime to pay $102,936,904 in restitution and permanently enjoins Agridime from engaging in conduct that violates the Commodity Exchange Act and CFTC regulations, as charged, and permanently bans Agridime from registering with the CFTC and from solicitating and trading in any CFTC-regulated markets. 
     
    The consent order further states the restitution obligation shall be satisfied by the collection efforts and resulting distributions by the receiver appointed in the parallel SEC action to defrauded customers. [SEC v. Agridime LLC, et al., 4:23-cv-01224-P (N.D. Tex. Dec. 11, 2023)].
     
    The CFTC also announced the court entered a final judgment by default against Agridime’s co-founders, Joshua Link and Jed Wood. The default judgment orders Link to pay disgorgement of $815,327.92 and Wood to pay disgorgement of $1,472,127.92. These disgorgement amounts represent gains received, respectively, by Link and Wood in connection with the violations alleged in the CFTC’s May 2024 complaint. [See CFTC Press Release No. 8911-24]. The default judgment further states that Link and Wood shall make payments of their disgorgement obligations, and any post-judgment interest payments, to the receiver for distribution to defrauded customers. The default judgment also permanently enjoins Link and Wood from further violating the CEA and CFTC regulations, as charged, and imposes trading and registration bans.
     
    The CFTC cautions that orders requiring repayment of funds to victims may not result in the recovery of any money lost because the wrongdoers may not have sufficient funds or assets. The CFTC will continue to fight vigorously for the protection of customers and to ensure the wrongdoers are held accountable.
     
    Case Background
    The consent order and default judgment stem from a CFTC complaint filed against the defendants Agridime, Link, and Wood in May 2024.  [See CFTC Press Release No. 8911-24]. The complaint alleged the defendants engaged in a scheme to defraud customers by soliciting, accepting, and using customer funds to pay other customers in the nature of a Ponzi scheme, rather than for the purposes Agridime said the funds would be used, in connection with contracts of sale of a commodity in interstate commerce (i.e., the customer’s purchase of cattle). 
     
    According to the complaint, Agridime represented that customers’ funds would be used only for the purchase, raising, and feeding of the purchased cattle. Instead, because Agridime did not buy the number of cattle required to fulfill its obligations under the livestock contracts, Agridime had to use  recently collected customers’ funds to pay the guaranteed profits of earlier customers. In addition, as further alleged in the complaint, customers’ funds were also used to pay millions in undisclosed commissions to Agridime personnel, including Link and Wood.  Link’s and Wood’s disgorgement obligations are based on the gains they received in connection with their fraud, including undisclosed commissions.
     
    The Division of Enforcement thanks the Fort Worth Regional Office of the Securities and Exchange Commission and the Arizona Corporation Commission’s Securities Division, for their assistance in this matter. 
     
    The Division of Enforcement staff responsible for this case are Janine Gargiulo, Nicole Buseman, Judith M. Slowly, Trevor Kokal, Lenel Hickson, Jr., Manal M. Sultan, Charles D. Marvine, and former employee David W. MacGregor.
     
    * * * * * *
    CFTC’s Fraud Advisories
     
    The CFTC has issued several customer protection advisories and articles, including information about forex, precious metals, and romance scams. Visit CFTC.gov to read more about these highly prevalent frauds.
     
    The CFTC also strongly urges the public to verify a company’s registration with the CFTC before committing funds. If unregistered, a customer should be wary of providing funds to that entity. A company’s registration status can be found using NFA BASIC.
     
    Customers and other individuals can report suspicious activities or information, such as possible violations of commodity trading laws, to the Division of Enforcement via a toll-free hotline 866-FON-CFTC (866-366-2382) or file a tip or complaint online or contact the Whistleblower Office. Whistleblowers may be eligible to receive between 10 and 30 percent of the monetary sanctions collected, paid from the Customer Protection Fund financed through monetary sanctions paid to the CFTC by violators of the CEA.

    MIL OSI USA News –

    June 17, 2025

  • MIL-OSI Africa: Senegal’s tech ecosystem thrives as tech hub evolves

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

    Download logo

    OPTIC, Senegal’s leading organization for tech professionals, has worked for three years with the Netherlands Trust Fund (NTF) V project at ITC to improve its services. Together we’ve improved Senegal’s entire digital ecosystem by investing in new skills and opportunities.

    Positive spin-offs for Senegal’s digital ecosystem

    OPTIC, the Organisation des Professionnels des Technologies de l’Information et de la Communication, has a long-standing and fruitful collaboration with ITC. They’ve worked with the current NTF V project, which is now winding down, as well as the previous NTF IV project.

    The project supports Senegal’s efforts to grow its economy with digital technology. That includes both information technology (IT) companies, and business process outsourcing (BPO) firms that offer back-office services to international businesses. 

    ‘NTF’s support has enabled us to establish our legitimacy and intensify our efforts in the Senegalese tech ecosystem,’ said Antoine Ngom, President of OPTIC. ‘Dozens of IT and BPO start-ups have benefited from this initiative, not to mention the indirect spin-offs that have benefited the entire tech economy.’

    OPTIC has set itself several goals: to create a regulatory environment conducive to growth and innovation; to improve the skills and competitiveness of players on international markets; and to foster partnerships. 

    ‘Our members have been able to seize international development opportunities thanks to personalized coaching sessions, as well as work on their pitch and sharpen their fund-raising skills through specialized training courses. Participation in leading B2B events, both national (SIPEN) and international (VivaTech, Africarena, GITEX International), considerably increased their visibility and expanded their professional network. A 360° diagnosis helped them to identify levers for improving their company’s performance, while certification support opened doors to national and international public procurement markets, synonymous with new growth prospects. The agritech community also benefited from a number of thematic meetings and a mapping of solutions.’ 

    Strengthen achievements and maintain regional influence

    OPTIC also received comprehensive, structuring support from the NTF V Project. After a performance diagnosis, OPTIC restructured its governance, revised its fundamental texts, and defined its recruitment needs for the permanent secretariat.

    ‘Cooperation between OPTIC and the NTF V project has also helped to make the SIPEN trade show a major focal point for players in the African digital economy. And that’s not counting the technical support we’ve provided for workshops, digital mornings and other ThémaTIC breakfasts that benefit Senegal’s Tech community,’ said Ngom.

    All these initiatives have contributed to the emergence of the Digital Senegal consortium and to the realization of promising partnerships with players such as Sen Startup. ‘There’s no doubt that the NTF V project has helped OPTIC to strengthen its leadership capabilities and increase its regional influence. We’ve seen a significant increase in membership over the past few years,’ added Ngom, who hopes to build on this positive impact over the long term. Now that the trade organization has secured a plot of land on which to build its future head office, achieving financial autonomy is a new challenge.

    ‘We want OPTIC to reinforce its position as a key digital player in Senegal and more widely in West Africa. To achieve this, we plan to boost our regional cooperation and support dialogue with public authorities more than ever. To continue our work, diversify our best practices and develop profitable activities, we are launching an appeal to national and international partners,’ he said. Ngom hopes a future NTF VI project will be part of that.

    About the project

    The Netherlands Trust Fund V (NTF) programme (July 2021 – June 2025) is based on a partnership between the Netherlands Ministry of Foreign Affairs and the International Trade Centre. NTF V supports SMEs in the digital technology and agribusiness sectors in Benin,Côte d’Ivoire, Ethiopia, Ghana, Mali, Senegal and Uganda. Its ambition is to contribute to an inclusive and sustainable transformation of agri-food systems partly through digital solutions, to improve the international competitiveness of local tech start-ups and to support the implementation of the export strategy of IT&BPO companies.

    – on behalf of International Trade Centre.

    MIL OSI Africa –

    June 17, 2025

  • MIL-OSI Banking: Klaas Knot: Remarks for the 93rd G30 Plenary

    Source: Bank for International Settlements

    It is a pleasure to be here today to reflect on the critical intersection of financial innovation and stability. I would like to share some thoughts from my perspective as Chair of the Financial Stability Board.

    A fundamental principle that guides the FSB’s work is that we do not pick winners. Our focus is on ensuring that innovation develops safely and responsibly, within the boundaries of our public policy objectives.

    When considering the relationship between innovation and stability, two aspects stand out. First, the speed at which new technologies can be adopted – and how quickly that can translate into systemic implications. Second, the cross-border nature of many of these innovations, which can amplify their impact and complicate regulatory responses.

    A striking example that highlights both of these dimensions is the case of Libra. In 2019, Facebook announced plans to launch a blockchain-based stablecoin payment system. Although it never actually launched, the announcement alone triggered a strong response by the global regulatory community. The potential systemic and cross-border implications of a widely adopted global stablecoin were immediately apparent. This episode also fuelled a broader conversation on improving the end-user experience in cross-border payments.

    The FSB has played a central role in shaping the global response to these questions.

    The global response: building foundations for stability 

    The global response had two pillars.

    The first pillar was the development of high-level recommendations for stablecoins, published in 2020 and then revised in 2023. These recommendations set clear expectations for the design and operation of stablecoins to ensure they do not undermine financial stability.

    The second pillar was, arguably, the G20 Cross-Border Payments Roadmap. This G20 initiative recognised the need to enhance the user experience for cross-border payments. This roadmap emerged at a time when traditional financial systems were de-risking, creating gaps that new technologies and players sought to fill. 

    Stablecoins have the potential to address some of the challenges in cross-border payments, but they also introduce new risks. Importantly, they are not the only solution. Innovations in domestic payment system, such as mobile payments, instant or fast payments, and the exploration of central bank digital currencies (CBDCs) and tokenised deposits – potentially through a single “ledger” or interoperable ledgers – also have the potential to reshape the payments landscape. 

    Looking ahead: balancing innovation and stability

    As we look to the future, a key question stands out: will stablecoins replace traditional bank-based cross-border payments, or will they remain a niche solution in a fragmented global payments ecosystem? While the answer is unclear, the potential risks are not. 

    Let’s start with a fundamental question: how different is a stablecoin from e-money or a bank deposit? At first glance, stablecoins appear to be a novel technological innovation, promising faster, cheaper, and more efficient payments. However, their core functions-storing value and enabling payments-are not fundamentally different from traditional financial instruments.

    A stablecoin backed by high-quality liquid assets mirrors the structure of e-money issuers. Similarly, a stablecoin issued by a private entity with claims on an issuer resembles a bank deposit. Yet, despite these similarities, stablecoins often operate outside the regulatory frameworks that govern bank deposits and other products that are similar to bank deposits, like money market funds.

    This highlights the importance of the principle “same activity, same risk, same regulation.” If stablecoins perform the same economic functions as traditional instruments, they should adhere to equivalent regulatory and supervisory standards. This is not about stifling innovation but about safeguarding financial stability.

    Consider a stablecoin issuer promising 1:1 backing with high-quality reserves. Without strict oversight, could these reserves fund riskier ventures, with stablecoins acting as conduits for leveraging the financial system? This scenario is not hypothetical. We have seen how loosely regulated financial instruments can amplify risks rather than mitigate them. The potential for runs on large stablecoins could have financial stability implications given their large-scale investments in the short-term funding markets. The interconnectedness between stablecoins and traditional financial systems has grown rapidly.

    To address these risks, the FSB has set guardrails for the regulation, supervision, and oversight of stablecoins. These guardrails ensure robust standards for transparency, governance, and risk management. However, if we want to prevent regulatory arbitrage, consistent implementation across jurisdictions is critical. We should not allow stablecoins to exploit gaps in oversight to gain a competitive advantage or to introduce hidden risks into the financial system.

    Strengthening Cross-Border Payments 

    Beyond stablecoins, cross-border payments remain a focus area for the FSB. We work to bring the G20’s goal of making cross-border payments faster, cheaper, more accessible and more transparent to fruition. Cross border payments mostly rely on domestic payments systems. But unlike domestic payment systems, there is no over-arching global governance framework for cross-border payments. Despite innovation in cross-border payments, inefficiencies, high costs, and delays in processing payments persist. 

    To address this, the FSB, in collaboration with the Committee on Payments and Market Infrastructures (CPMI) and other stakeholders, has been working to align technical standards, as well as legal, regulatory, and supervisory frameworks. This work is essential no matter what technology is used.

    Conclusion

    As we navigate this complex landscape, our task is to strike the right balance between fostering innovation and safeguarding financial stability. The likely route for the evolution of global payments remains uncertain. If that comes by the spread of new payment rails, such as stablecoin, or if it comes by the improved efficiency of long-established payment mechanisms should be something we are agnostic on. But what is certain is that fostering innovation must not come at the expense of stability.

    Continued global coordination and vigilance is therefore crucial. We must address the risks posed by stablecoins and other fintech innovations while ensuring that payments systems provide good value for consumers. Improving the user experience is not just a matter of convenience; it is essential to prevent the proliferation of unregulated or less-regulated alternatives. 

    Authorities must work together to build a financial system that embraces innovation while ensuring resilience, inclusivity, and trust. By applying the principle of “same activity, same risk, same regulation”, we can foster a payments ecosystem that is both forward-looking and fundamentally sound.

    Thank you.

    MIL OSI Global Banks –

    June 17, 2025

  • MIL-OSI USA: ICYMI: Rep. Hinson Joins The Signal Sitdown

    Source: United States House of Representatives – Congresswoman Ashley Hinson (IA-01)

    Washington, D.C. – Congresswoman Ashley Hinson (IA-02) joined Daily Signal’s Bradley Devlin on The Signal Sitdown podcast. The two discussed the media bias contributing to the cover-up of President Biden’s mental decline, the One Big Beautiful Bill Act, countering the CCP’s illicit practices, and more.

    In case you missed it…

    Click here to watch the full episode of The Signal Sitdown.

    China Has Secret Police in the US. This Congresswoman Is Trying to Stop It.
    The Daily Signal
    Bradley Devlin
    June 12, 2025

    In December 2024, Chen Jinping, a 60-year-old Manhattan resident, pleaded guilty to opening and operating a secret Chinese police station for China’s Ministry of Public Security in Manhattan’s Chinatown neighborhood. Chen was arrested with “Harry” Lu Jianwang in April 2023, following an FBI investigation into the outpost.

    Though these arrests were the first of their kind, according to Justice Department officials, American authorities suspect that China has these kinds of outposts all over the country. 

    And China’s nefarious activities in New York City hardly scratch the surface. For decades, Chinese operatives have infiltrated American universities and companies, smuggled drugs and human beings across America’s borders, and stolen American intellectual property and technology—even corn seeds from fields in Iowa.

    President Donald Trump was one of the first to see the threat of China clearly. Under the president’s leadership, Republicans in Congress are trying to prevent and punish this malign Chinese activity. This week, one of the House Republicans spearheading that effort, Rep. Ashley Hinson, R-Iowa, joins “The Signal Sitdown” to discuss.

    “My passion for this policy started in my district,” Hinson said. The aforementioned seed-stealing spies were operating in Hinson’s backyard. “There was actually a Chinese spy ring busted stealing seeds out of a cornfield in Dysart, Iowa.”

    “They wanted to take them back to China. They want to cheat,” Hinson explained. “It’s all about reverse engineering because there is so much R&D that has gone into seed technology so that we can grow the most resilient, best yielding plants in the world.”

    China’s unfair trade practices can often be more subtle than outright theft, however. “[The Chinese] are using tactics like transnational shipment,” Hinson told The Daily Signal.

    “So, especially in the auto-parts industry, for example,” Hinson explained, “something coming in from China is gonna be tariffed, so then they ship it through Singapore or Vietnam or someplace with a lesser tariff to get around our tariff laws.”

    “They’re economically cheating and getting a better deal,” Hinson continued. “Meanwhile, you’ve got American producers trying to play on that same playing field and it’s not level.”

    Hinson has introduced the Protecting American Industry and Labor from International Trade Crimes Act with Select Committee on the Chinese Communist Party Chairman John Moolenaar, R-Mich., and Ranking Member Raja Krishnamoorthi, D-Ill., to provide federal law enforcement more capacity to crack down on these trade practices.

    “What we’re trying to do is make sure that President Trump’s Department of Justice… [will have] the resources and a specific task force to be able to go after these malign actors who are, again, intentionally cheating,” she explained.

    “We think this cost is hundreds of billions of dollars every year on the low end,” Hinson said. “This has been decades in the making, right? You’ve got entire industries that have been ceded and now China owns them.”

    ###

    MIL OSI USA News –

    June 17, 2025

  • MIL-OSI Banking: Leong Sing Chiong: Opening remarks – CCI-ILSTC Trade and Financial Conference

    Source: Bank for International Settlements

    Senior Minister of State for Digital Development and Information and Health, Mr Tan Kiat How,
    Chongqing Municipal People’s Government Vice Mayor Xu Jian,
    His Excellency, Ambassador Cao Zhongming,
    Bank Indonesia Executive Director Pak Yoga Affandi,
    Ladies and gentlemen,

    Good morning. It gives me great pleasure to welcome you to Singapore for the CCI-ILSTC Trade and Financial Conference. Today’s Conference is especially meaningful for three reasons.

    First, it marks the 10th anniversary of the China-Singapore (Chongqing) Connectivity Initiative or CCI. The value of the CCI as an important driver for cross-border connectivity cannot be understated. Since the CCI’s inception, there has been sustained growth in trade volumes in both directions. And finance has been an important driver, with over US$21.69 billion in cross-border financing deals since the CCI’s inception.

    Second, the Conference reflects strong interest and active participation of financial institutions from both sides, working hard on new areas to explore partnerships, and work on cross-border financing deals together. All this is taking place against the backdrop of expanding financial collaboration at the China-Singapore Joint Council for Bilateral Cooperation which covers RMB cooperation, capital market connectivity, as well as digital and sustainable finance.

    Third, this Conference brings together, for the first time, the CCI Financial Summit and the CCI-ILSTC International Cooperation Forum. This new format seeks to bring our financial services and trade ecosystems even closer together, more effectively catalysing the discovery of new linkages and business opportunities. This is timely as ASEAN is also Chongqing’s largest trading partner accounting for more than 16% of Chongqing’s total trade.

    As CCI enters its next decade, we look to how Western China and ASEAN can deepen cooperation, harness key structural trends, and identify new opportunities in future-oriented areas such as green finance and digital connectivity. This will improve the quality and scope of cross-border financial services, enabling our financial sectors to better serve the real economy. In doing so, financial institutions can also help businesses with their green transition efforts and capitalise on digitalisation trends to enhance their business models.   

    Both China and ASEAN will require a vast amount of green financing and investments to transition our economies towards a sustainable, low carbon future. 

    Banks from China and Singapore, together with the Singapore Exchange, have been engaging Chongqing corporates on green financing opportunities. For instance, last year, the EU, China and Singapore announced the Multi-Jurisdiction Common Ground Taxonomy, or M-CGT which enhances the comparability of green taxonomies across the EU, China and Singapore. With the M-CGT, corporates from the three regions will benefit from a common framework which aligns their green activities with international standards, making it easier to access cross-border green financing. 

    Aside from capital markets, our financial institutions have also been active in supporting Chongqing’s decarbonisation journey. Some examples include:

    • DBS Bank’s provision of a green loan to Singapore Power Group in 2025, to support the district cooling and heating system project at Raffles City Chongqing. This will reduce its carbon footprint by about 30 percent. 
    • OCBC Bank’s arranging of a green syndicated loan for EBA Investments1 in 2024, for their Chongqing IMIX+ Project in the Chaotianmen Business District. This loan, which references internationally recognised Green Loan Principles, helps promote carbon neutrality for the project. 

    Meanwhile, digital technology has great potential to break down barriers and make cross-border trade simpler, more efficient, and potentially enhance SME trade connectivity between China and ASEAN. As SMS Tan mentioned in his remarks earlier, Proxtera’s network of digital marketplaces will enable small and medium-sized enterprises (SMEs) in Chongqing and the Western Region to access a greater network of buyers and suppliers. The integration of trade discoverability and financing functions on the Proxtera platform can also help these SMEs overcome some of the challenges and complexities of cross-border trade as they seek to access new markets.

    In closing, there is much potential to further grow the trade and financial connectivity between Chongqing and ASEAN. Under the umbrella of the CCI, we hope to bring new ideas, innovations and initiatives that will ensure sustainable growth across our regions. This is in keeping with the JCBC objective of fostering an all-round, high-quality, future-oriented partnership.

    Thanks, and I wish you all a fruitful Conference for the rest of the day.

    MIL OSI Global Banks –

    June 17, 2025

  • MIL-OSI United Kingdom: Export bar placed on £8 million Rubens work

    Source: United Kingdom – Executive Government & Departments

    Press release

    Export bar placed on £8 million Rubens work

    A temporary export bar has been placed on an oil sketch, titled ​​Cimon Falling in love with Efigenia, by Flemish artist Peter Paul Rubens

    • The work has been valued at £8.4 million 
    • The export bar will allow time for a UK gallery or institution to acquire the oil sketch for the nation

    An export bar has been placed on an oil sketch by Flemish artist, Peter Paul Rubens, which is at risk of leaving the UK.

    Rubens was an exceptionally successful painter and is considered the most influential artist of the Flemish Baroque tradition. Rubens was born in Siegen, Germany in 1577 and is mostly known for his vibrant style emphasising movement, colour, and sensuality. Some of his most famous paintings include The Elevation of the Cross and Judgement of Paris. 

    Cimon Falling in love with Efigenia is a remarkable example of one of Rubens’ authentic oil sketches created entirely by his own hand.

    Oil sketches by Rubens have been eagerly collected in the UK and there is a strong British connection to this piece, as George Villiers, the first Duke of Buckingham (1592–1628), was an admirer of his artistic talent and displayed works by Rubens in his home at York House. This included the finished painting of Cimon and Efigenia for which the current oil sketch is a preparatory work.

    The sketch is a marvellous encapsulation of Rubens’ working methods at a relatively early stage in his career. It would enhance the representation of such works in the UK if saved for the nation by a cultural institution. 

    Arts Minister Sir Chris Bryant said: 

    This work is the perfect example of Rubens’ artistic talent and gives us greater insight into Flemish art during the 17th century. 

    I hope that a UK gallery is able to save  it so that the public can enjoy it for generations to come.

    Mark Hallett, Committee Member said: 

    This is a picture that gives us the opportunity to appreciate a great artist’s creative process in full flow. Produced on panel as the primary sketch for a monumental oil painting that now hangs in the Kunsthistorisches Museum in Vienna, Cimon falling in Love with Efigenia is entirely the product of Rubens’s own hand, rather than one that – as is the case with the final picture – contains the contributions of his studio assistants. In the sketch, we see Rubens exploring the artistic possibilities of an ethically and erotically charged scene from early Renaissance literature, and experimenting with the established pictorial conventions of the female nude. The longer one looks at and thinks about this picture, the more complex and challenging it becomes: the mark of all truly significant works of art. For these reasons, Cimon falling in Love with Efigenia demands to be found a permanent home in the UK, where it can be enjoyed and reflected upon for decades to come.

    The Minister’s decision follows the advice of the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest (RCEWA).

    The RCEWA made its recommendation on the basis that the painting met the second and third Waverley criteria for its outstanding aesthetic importance and its outstanding significance to the study of Rubens’ preparatory studies and sketches and their influence, as well as the treatment of the female nude in art.

    The decision on the export licence application for the painting will be deferred for a period ending on 15 September 2025 inclusive. At the end of the first deferral period owners will have a consideration period of 15 Business Days to consider any offer(s) to purchase the painting at the recommended price of £8,440,000. The second deferral period will commence following the signing of an Option Agreement and will last for six months.

    Notes to editors:

    1. Organisations or individuals interested in purchasing the painting should contact the RCEWA on 02072680534 or rcewa@artscouncil.org.uk.
    2. Details of the painting are as follows: Peter Paul Rubens (1577–1640) Cimon Falling in love with Efigenia, c. 1616–17. Oil on panel, 29.8 x 43.5 cm. The painting is on a narrow wooden panel with vertical grain. The painting is in generally good condition.

    3. Provenance: Probably the painter and dealer Jeremias Wildens (1621-53), son of Jan Wildens (1586 – 1653) who collaborated with Rubens on the Vienna picture in which he painted the landscape; His estate: inventory drawn up 30 January 1653 and 11 January 1654, no. 528 ‘Eenen Thimon met Naeckte vrouwkens van Rubbens’ (A Thimon [Cimon] with naked women by Rubens); Philippe Panné, Esq., Great George Street, Hanover Square, London (d. 1819); His sale: Christie’s, London, A catalogue of the very capital, valuable and highly important collection of Italian, French, Flemish and Dutch pictures, of the late Ph. Panné, Esq. of Great George Street, Hanover Square, deceased, 27 March 1819 (including 350 lots), lot 17, as ‘Rubens, Cymon and Iphigenia. panel, 12’ x 17’ [sic.] (sold 26-5 pounds); William Noel-Hill, 3rd Baron Berwick (1773-1842); His sale: Christie’s, London, 1 December 1827, lot 73, as ‘Rubens’ School, Cymon and Iphiginia’ (“17 guineas”, “”bought in”); Sir Matthew Wilson,1st Baronet of Eshton Hall (1802-1891), Gargrave, 1877; Private Collection, U.K. by 1886; Private collection, purchase, 2024

    4. The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest is an independent body, serviced by Arts Council England (ACE), which advises the Secretary of State for Culture, Media and Sport on whether a cultural object, intended for export, is of national importance under specified criteria.

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    Published 16 June 2025

    MIL OSI United Kingdom –

    June 17, 2025

  • MIL-OSI: New ServiceTrade Inspections Delivers Unprecedented Efficiency and Revenue Growth Opportunities for Commercial Fire Contractors

    Source: GlobeNewswire (MIL-OSI)

    DURHAM, N.C., June 16, 2025 (GLOBE NEWSWIRE) — ServiceTrade, Inc., the industry-leading provider of field service management solutions that enable commercial service contractors to build stronger, more profitable businesses, today announced ServiceTrade InspectionsTM.   ServiceTrade Inspections is the only solution for fire inspection and compliance management that is fully integrated within a field service management platform. The expanded functionality streamlines every aspect of the inspection workflow through a single, mobile user interface, enabling greater efficiency, increased revenue, and superior customer service.

    “We’ve been in the trenches with commercial fire service providers for over a decade––we understand their challenges, and we know how integrated inspections functionality can streamline operations and add efficiency to improve their business performance,” said William Chaney, CEO of ServiceTrade. “We’re excited to bring the next generation of inspection technology to them within ServiceTrade.” 

    Fully integrated within ServiceTrade’s field service management platform, the new functionality consolidates essential inspection management capabilities in a seamless experience that accelerates inspections and maximizes technician productivity. Rather than dealing with administrative paperwork, technicians can focus on performing inspections, testing, and maintenance work. ServiceTrade captures inspection data once and puts it to work everywhere—automating deficiency creation, updating asset information, and creating polished customer-ready reports in less time. ServiceTrade Inspections includes:

    • A Unified Mobile App for Service and Inspections: Technicians perform inspections via the ServiceTrade mobile application, designed specifically to meet the demands of fire protection work—streamlined, accurate, and easy to use in the field. The app boosts speed, reduces training time, and improves field adoption. 
    • A Comprehensive Mobile Inspection Forms Library: ServiceTrade Inspections offers an extensive library of NFPA and AES forms. The library includes forms required by joint commission-accredited organizations, such as major healthcare providers, hospitals, schools, Class A office buildings, apartment complexes, high-rises, and industrial facilities.
    • Intelligent Inspection Report Generation: Inspection results are automatically transformed into polished, customer-ready compliance reports that can be reviewed, approved, and delivered without delay.
    • Automated Deficiency Management: ServiceTrade streamlines the entire lifecycle of deficiency management—from the moment a technician in the field identifies an issue, to generating revenue from the repair. Technicians can easily document deficiencies, which are instantly added to the NFPA report and converted into ready-to-quote records in ServiceTrade. Duplicate data entry is eliminated, enabling quicker customer approvals, ensuring full compliance, and accelerating repair revenue.
    • Integrated field-to-office workflow: ServiceTrade Inspections improves field-to-office coordination with real-time status tracking, transparent revision history, and seamless in-platform form editing.  

    “Inspection and deficiency repair work is an engine of predictable revenue and growth for fire protection contractors,” said Brook Bock, CPO at ServiceTrade. “ServiceTrade’s new built-in inspections functionality makes it easier for contractors to take advantage of this desirable work without compromising on capabilities or implementing multiple software products to support both inspections and operations. ServiceTrade’s all-in-one service capabilities include inspections, quotes, repairs, and compliance reporting. It is purpose-built to help fire service contractors build stronger, more efficient, and more profitable businesses.”

    ServiceTrade Inspections combines state-of-the-art technology with deep expertise in the fire protection industry in a single, complete solution. ServiceTrade enables contractors to:

    • Win and retain premium customers by delivering superior, code-compliant inspection services.
    • Drive additional revenue by identifying more deficiencies and performing more repairs.
    • Mitigate risk through accurate inspections and a comprehensive digital record.
    • Streamline technician workflows with fingertip access to digital, code-compliant inspection forms.
    • Eliminate manual data entry and lost paperwork. 
    • Boost technician productivity and confidence with intuitive digital tools and AI assistants that enable every technician to sound like a professional.
    • Simplify cross-organizational workflows, including sales, field service delivery, and office operations. 
    • Provide end-customer with proactive and detailed information that fosters trust and strengthens customer satisfaction.

    Unlike general inspection management solutions, which often lack industry-specific features, forms, and integrations, ServiceTrade Inspections is specifically designed for fire protection contractors.  

    Joshua Gilbert, Vice President of Operations of Desert Fire, commented: “ServiceTrade does three things simultaneously – it creates the report and maps everything for compliance, tracks all deficiencies so we can generate quotes and send work acknowledgments to customers, all from one mobile interface. Once we started tracking how quickly we moved from deficiency to quote to job to invoice, our revenue skyrocketed because nothing was getting missed anymore.”

    ServiceTrade Inspections is now available for purchase, with implementations beginning this Fall.

    To learn more about ServiceTrade:

    ABOUT SERVICETRADE

    ServiceTrade helps commercial service contractors build stronger, more profitable businesses. With over a decade of category leadership and more than 1,300 customers, ServiceTrade’s end-to-end platform streamlines operations from the field to the back office, improves technician productivity, and strengthens customer relationships from contract to invoice. ServiceTrade powers the modern commercial contractor. Learn more at www.servicetrade.com.

    Contact:

    media@ktcmarketingandpr.com

    The MIL Network –

    June 17, 2025

  • MIL-OSI Russia: This Time Must be Different: Lessons from Sri Lanka’s Recovery and Debt Restructuring

    Source: IMF – News in Russian

    Opening Remarks by the IMF First Deputy Managing Director Gita Gopinath Conference on “Sri Lanka’s Road to Recovery: Debt and Governance” Shangri-La Hotel Colombo

    June 16, 2025

    Excellencies, distinguished guests, colleagues, and friends,

    It is a great honor to join you today for this important conference which takes place at a critical juncture in Sri Lanka’s economic journey.

    This conference comes not only at the mid-point of Sri Lanka’s IMF-supported economic reform program, but also at a moment when the global economy is facing powerful crosscurrents—slowing growth, rising tariffs, and a rapidly changing global economic order alongside profound uncertainty. Countries are being tested by shocks that are more frequent and more complex. The challenge for all of us is to build resilience in a world that demands it.

    Achievements Resulting from Reforms Supported by the IMF-EFF Program

    In this light, Sri Lanka’s experience stands out—both for the severity of the crisis the country experienced three years ago, and the remarkable progress that has been achieved in a very short time. The crisis was precipitated by years of declining tax revenues, depleted foreign exchange reserves and an explosive and unsustainable increase in public debt as growth collapsed. There were long lines for fuel, severe shortages of basic goods, record inflation, and widespread power outages. For many households, daily life became an exercise in hardship.

    Today, thanks to bold reforms and the commitment of the Sri Lankan people, substantial progress has been made to restore macroeconomic stability and reduce hardships faced by people. Fuel, cooking gas, and medicines are available again. Inflation has been brought under control and economic growth has returned—expanding by 5 percent in 2024. On the fiscal front, the government has achieved an extraordinary adjustment and tax revenues have increased by more than two-thirds as a share of GDP.

    The government has also put a strong emphasis on improving governance, which is fundamental for establishing trust with citizens and ensuring sustained growth. Important milestones have been achieved including central bank independence, improving public financial management, and strengthening the legal framework for anti-corruption.  Our analysis shows that comprehensive fiscal governance and accountability reforms in Sri Lanka can boost GDP by more than 7 percent and reduce the debt-to-GDP ratio by more than 6 percentage points over 10 years.

    Sri Lanka also took the difficult but necessary decision to default on its public debt and pursue a sovereign debt restructuring. These decisive actions on debt have helped ease the burden on the country. External creditors have forgiven $3 billion in debt and restructured another $25 billion, extending repayment over two decades at lower interest rates. Sri Lanka’s bonds are once again included in global indices, and its credit rating has improved.

    The experience of Sri Lanka holds important lessons for the world, and I would like to speak to the lessons from its debt restructuring.

    I. The Nexus between Economic Reforms and Debt Restructuring

    Sri Lanka’s debt restructuring had to deal with several challenges:

    1. Calibrating the restructuring targets to deliver sufficient debt relief. This was a complex endeavor. As with all restructurings, debt sustainability needs to be restored through a combination of debt relief and policy adjustments, such as fiscal effort. The targets must be carefully calibrated to consider country specific circumstances. In Sri Lanka’s case, the targets considered the severity of the crisis while also recognizing the country’s high levels of private savings, tourism receipts and remittances. Through this restructuring, over the next decade, external debt service as a share of GDP is reduced by a half, and external and total debt stock will fall by 27 and 34 percentage points of GDP respectively.
    2. Facilitating collaboration in a complex external creditor landscape. A full range of official creditors needed to find ways to coordinate, and not all creditors had the internal processes in place to deliver swiftly. The Official Creditor Committee chaired by France, India and Japan shepherded many creditors together and China informally coordinated with this group. Still there were challenges in the sharing of information across creditor groups and concerns about comparability of treatment across official bilateral creditors. To help move the process along, the IMF staff were very active in providing information and using IMF “good offices” on an ongoing basis to support coordination.
    1. Containing financial and social stability risks from the restructuring. A large share of Sri Lanka’s debt is domestic. The authorities recognized that external debt relief by itself would be unlikely to restore debt sustainability and domestic debt needed to be part of the restructuring effort. This had to be tackled carefully because of the significant exposure of Sri Lanka’s domestic financial sector, the central bank and the public pensions vehicle to government debt. To preserve financial and social stability, the authorities avoided nominal debt reductions and focused on lowering interest rates and lengthening maturities.

    The Sri Lankan debt restructuring experience provides several lessons that will help make the process simpler for other countries that need restructuring in the future. Sri Lanka’s experience better illuminated the trade-offs in setting debt targets and directly led to the development of improved methodologies for evaluating state contingent features in debt contracts. It helped creditors learn how to improve coordination and gave them new instrument designs to contemplate. Together with other recent restructuring cases, it helped motivate important reforms to IMF’s debt policies.

    Over time, there have been other important improvements in the sovereign debt architecture. The IMF, Bank and G20 Presidency convened the Global Sovereign Debt Roundtable to help serve as a forum for creditor dialogue and generate consensus on difficult issues that arise in restructurings. An important recent output of these efforts is a restructuring playbook, published at the time of our Spring Meetings, which lays out the typical steps in a restructuring and an indicative timeline. It is important to recognize that, thanks to these initiatives, experiences, and the G20 Common Framework, the restructuring process has become faster. In the recent case of Ghana’s, it took five months to get from an IMF staff level agreement to delivering the financing assurances required for program approval—roughly half the time it took for Chad in 2021 and Zambia in 2022. Looking ahead, let me assure you that our work on improving the timeliness and effectiveness of the global debt architecture will continue.

    For Sri Lanka, the experience with the debt restructuring drives home the importance of managing the economy such that a similar situation will never arise again.

    II. Important to Stay the Course

    Let us be clear: none of the achievements thus far would have been possible without the courage and sacrifice of the Sri Lankan people. The crisis was costly and painful, particularly for the poor. The reforms undertaken to address the root causes of the crisis—adjustments in taxation, the removal of unsustainable subsidies, efforts to restore cost-reflective energy pricing—have asked a great deal from ordinary citizens. These are difficult measures. They test the social fabric. And yet, they are the foundation of a more resilient future.

    That is why we must now turn our focus from crisis response to sustainable recovery. There is a lot that is still needed. Poverty rates at 24.5 percent in 2024, according to the latest World Bank estimates, are too high and need to be brought down quickly. This requires continued macroeconomic stability and successful implementation of structural reforms. Tackling corruption will require major reforms. Implementing the government’s action plan on governance reforms is critical. While much has been done to reduce external debt, domestic debt is still high and steadfast implementation of sound fiscal policy is critical to continue bringing it down.

    None of this will be easy. In addition to the domestic challenges, the global environment is difficult with tariffs, geopolitical conflict and economic fragmentation posing major risks for small open economies like Sri Lanka’s.

    This is why there is no room for policy errors. As the IMF Managing Director noted during our Spring Meetings in April: the choice facing countries today is between reform and regret. Between building buffers—or risking future crises.

    Sri Lanka’s reform program has delivered strongly. But history reminds us of the risks. Of the 16 IMF programs Sri Lanka has engaged in over the years, about half ended prematurely. Often, reform fatigue sets in. Hard-earned gains were reversed. Growth faltered. The country cannot afford to repeat that cycle.

    Let me therefore underscore how essential it is to sustain the reform momentum, and in a manner that is inclusive and accountable. Public dialogue matters. Transparency matters. Engaging civil society and listening to diverse voices—not just in Colombo, but across the island—will help ensure that policies are responsive and responsible. This conference is exactly the kind of platform that can foster such engagement. It is a space to reflect, to challenge assumptions, and to build consensus. The IMF will remain a steadfast partner as Sri Lanka pursues stable and inclusive growth that improves the lives of all citizens and future generations.

    This time must be different! As President Dissanayake has said, let us ensure this is the last IMF program Sri Lanka will need.

    We agree, and believe this is possible if Sri Lanka stays the course.

    Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

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

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/06/16/sp061625-gg-this-time-must-be-different-lessons-from-sri-lankas-recovery-and-debt-restructuring

    MIL OSI

    MIL OSI Russia News –

    June 17, 2025

  • MIL-OSI: Wedbush Financial Services Acquires Minority Interest in Trigon, Establishing a Strategic Partnership to Expand Global Reach and Enhance Client Solutions

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, June 16, 2025 (GLOBE NEWSWIRE) — Wedbush Financial Services (WFS), a diversified financial services holding company and parent of Wedbush Securities (WS), and Trigon, a leading Central and Eastern European (CEE) investment banking firm, today announced a strategic partnership in which WFS has acquired a significant minority equity stake in Trigon.

    Through the partnership with WS, Trigon clients will benefit from broader access to global investors, increased ability to lead cross-border equity capital market transactions—including IPOs—and participation in Wedbush-hosted investor conferences and research-driven events. Joint teams from both firms will collaborate on select investment banking mandates, delivering seamless advisory and execution across jurisdictions.

    In tandem, WS establishes a strategic foothold in the fast-growing CEE region, furthering its global strategy, which includes partnerships with leading Asian firms—Maybank Investment Bank, Hana Securities, Yuanta Securities, SK Securities, and Okasan Securities Group—as well as its investment in Velocity Trade. With its growing network of alliances, WS is positioned to support clients across a broader global footprint, navigating complex, multi-market opportunities with integrated, cross-border solutions.

    “We are pleased to welcome Wedbush as a significant minority strategic investor,” said Andrzej Sykulski, Co-founder and Managing Partner at Trigon. “This partnership marks a key milestone in Trigon’s repositioning as a truly global investment banking platform. With expanded access to global markets—particularly the U.S., Canada and Asia—and strengthened cross-border execution capabilities, our clients will benefit from broader investor reach and deeper research coverage. We view Wedbush as a culturally aligned partner that shares our client-first mindset and long-term vision.”

    “We are honored and proud to become a strategic investor in Trigon,” said Gary Wedbush, President & CEO of WFS. “Their leadership position across the CEE, investment banking prowess, and authentic client service culture make them an ideal partner for our global growth strategy. Together, we will offer clients worldwide capabilities with deep local expertise and relentless service.”

    Trigon will continue to operate independently under its current leadership, preserving its entrepreneurial culture, brand, and decision-making structure.

    About Wedbush Financial Services

    Wedbush Financial Services is a diversified financial services holding company. The firm, through WS, provides a wide range of services including investment banking, multi-asset clearing, prime brokerage, wealth management, and brokerage services to both private and institutional clients. Headquartered in Los Angeles, California, WS operates over 100 registered offices and employs nearly 900 professionals. Known for its bespoke client service and use of advanced technology, Wedbush is committed to delivering high-performance solutions across the full range of financial services. Securities and investment advisory services are offered through Wedbush Securities Inc. Member NYSE/ FINRA / SIPC

    About Trigon

    Trigon is a leading independent investment banking firm operating in Poland and Central and Eastern Europe since 1989. With a team of over 120 professionals, Trigon specializes in delivering comprehensive advisory services that help clients achieve their strategic goals. The firm is renowned for its deep market understanding, client-first approach, and a track record of executing complex transactions. Trigon’s commitment to excellence has been recognized through numerous accolades, including multiple Euromoney Awards for Excellence, underscoring its position as a trusted partner in the region’s financial landscape.

    Media Inquiries:
    Serina Molano
    publicrelations@wedbush.com
    213-688-4564

    The MIL Network –

    June 17, 2025

  • MIL-OSI: American Rebel Light Beer Expands into Virginia with Valley Distributing – Distribution Momentum Accelerates Nationwide

    Source: GlobeNewswire (MIL-OSI)

    With a New Agreement for Southwestern Virginia and Active Distribution across 11 States Since Launching in September 2024, American Rebel Light Beer – America’s Patriotic Beer Continues its Rapid Rise as America’s Fastest Growing Beer

    NASHVILLE, TN,, June 16, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel, proudly reports that American Rebel Beer has signed a distribution agreement with Valley Distributing Corporation (valleydist.net). Through this agreement, American Rebel Light Beer will now be available in Alleghany, Botetourt, Craig, Roanoke, Montgomery, Giles, Pulaski, Floyd, Franklin, and Bedford counties, proudly reaching more patriotic Americans who believe in great taste and greater values.

    Founded by David Hutchinson Sr. in 1974 after years as a brewery rep with Stroh Brewery, Valley Distributing began operations in Salem, VA in January 1975. What started with distribution rights to Salem, Roanoke, and ten nearby counties quickly grew into one of the region’s most successful wholesalers. After securing the Coors Brewing Company portfolio in 1983, Valley hit its stride, expanding further with brands like Schlitz, Old Milwaukee, Guinness, Dos Equis, Yuengling, and craft favorites such as Flying Dog and Highland Brewing. Today, under the leadership of Jeff and Patrick Hutchinson, Valley remains a powerhouse rooted in service, expertise, and an unwavering commitment to quality.

    “This partnership with Valley Distributing is a perfect match,” said Todd Porter, President of American Rebel Beverage. “They understand what we stand for: quality, community, and country. Together, we are raising a toast to the American spirit – one cold can at a time.”

    “Valley Distributing is excited to partner with American Rebel Beverages and add another quality brand to our expanding portfolio in Southwestern Virginia,” said John Swanson, Sales Manager at Valley Distributing. “We’re confident that American Rebel Light Beer will resonate with consumers who value both a great-tasting beer and the values behind it.”

    “American Rebel Light Beer is brewed with pride and purpose – to celebrate this country and the people who make it great,” said Andy Ross, CEO of American Rebel. “Partnering with Valley Distributing gives us a strong, respected ally in getting our patriotic message and our beer into more hands across Virginia. We have spent some time with the Valley Distributing team and they understand what America’s Patriotic, God Fearing, Constitution Loving, National Anthem Singing, Stand Your Ground Beer is all about. Four-time NHRA World Champion and American Rebel Beer sponsored driver Matt Hagan and his family are based out of Virginia and adding Virginia to our list of states that we are available in was very important to us. This is more than business, it’s a movement.”

    American Rebel Light Beer is gearing up for a summer packed with bold flavor, proud moments, and all-American refreshment.– with a bold national ad campaign, key event sponsorships, and rapidly growing demand – Valley’s heritage and hometown strength ensure that the crisp refreshment of American Rebel Light Beer will make a powerful mark in the Commonwealth of Virginia.

    Let Freedom Pour – Celebrate the 4th of July with Free Shipping!

    Now through the end of June, American Rebel Light Beer is offering Free Shipping so our Patriotic Consumers can taste freedom this Fourth of July! Whether you’re grilling with family, watching fireworks, or raising a toast to our great nation, enjoy the crisp, clean, bold taste of America’s Patriotic Beer – delivered right to your door at no extra cost.

    Stock up today and let freedom ring with every sip!
    Purchase now at: https://shop.americanrebelbeer.com

    About American Rebel Light Beer

    American Rebel Light is more than just a beer – it’s a celebration of freedom, passion, and quality. Brewed with care and precision, our light beer delivers a refreshing taste that’s perfect for every occasion.

    Since its launch in September 2024, American Rebel Light Beer has rolled out in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri, North Carolina, Florida, Indiana and now Virginia and is adding new distributors and territories regularly. For more information about the launch events and the availability of American Rebel Beer, please visit americanrebelbeer.com or follow us on our social media platforms (@americanrebelbeer).

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    For more information about American Rebel Light Beer follow us on social media @AmericanRebelBeer.

    For more information, visit americanrebelbeer.com.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebelbeer.com. For investor information, visit americanrebel.com/investor-relations.

    Watch the American Rebel Story as told by our CEO Andy Ross visit The American Rebel Story.

    Media Inquiries:

    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    American Rebel Holdings, Inc.

    info@americanrebel.com

    ir@americanrebel.com

    American Rebel Beverages, LLC

    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of our continued sponsorship of high profile events, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2025. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Attachment

    • American Rebel Holdings Inc

    The MIL Network –

    June 17, 2025

  • MIL-OSI Analysis: Trade in a mythical fish is threatening real species of rays that are rare and at risk

    Source: The Conversation – USA – By James Marcus Drymon, Associate Extension Professor in Marine Fisheries Ecology, Mississippi State University

    These ‘pez diablo,’ or devil fish, are actually guitarfishes that have been caught, killed, dried and carved into exotic shapes. Bryan Huerta-Beltrán, CC BY-ND

    From the Loch Ness monster to Bigfoot, also known as Sasquatch, to the jackalope of the U.S. West, mythical animals have long captured human imagination.

    Some people are so fascinated with mythical creatures that they create their own, either working from pure fantasy or by modifying real animals. In a newly published study, we show that in countries such as Mexico, people are catching, drying and shaping guitarfishes – members of the rhino ray family, one of the most threatened groups of marine fishes – to create mythical specimens called “pez diablo,” or devil fish.

    Depending on where these curios are sold, they might also be referred to as Jenny Hanivers, garadiávolos or rayas chupacabras. The origin and meaning of the term “Jenny Haniver” is unclear, but the most accepted explanation is “Jeune d’Anvers,” or “young girl from Antwerp” in French.

    We found that pez diablo are made for many reasons, including as curios for the tourist trade and as purported cures for cancer, arthritis and anemia. Some are simply used for hoaxes. Regardless, the pez diablo trade could threaten the survival of guitarfishes.

    Young guitarfishes on display at the New England Aquarium in Boston.

    Fishy talismans

    Skates and rays, including guitarfishes, are flat-bodied fishes related to sharks and are found worldwide. Together, they make up a group known as elasmobranchs, which are characterized by their unique skeletons made of cartilage rather than bone like most other fishes.

    Skates have long been used to craft mythical creatures. The earliest known examples date back to 1558 in Europe, where they were fashioned to resemble dragons. These objects were thought to offer pathways to the divine or medicinal cures.

    In the mid-20th century, dried guitarfishes emerged as a new generation of mythical creatures. This may be because their unique shape can be fashioned into more humanlike forms. Their long nostrils, which are positioned just above their mouths, can resemble eyes.

    The ‘eyes’ of these dried guitarfishes are actually nostrils on top of the fishes’ long, pointed snouts.
    Bryan Huerta-Beltrán, CC BY-ND

    The first known case of a modified guitarfish was described in 1933. Since then, specimens have made their way into museums, and dozens of North American newspapers have published stories featuring modified guitarfishes.

    A real and endangered fish

    Guitarfishes are one of the most threatened vertebrate groups on the planet: Without careful management, they are at risk of global extinction. As many as two-thirds of all guitarfishes are classified as threatened on the IUCN Red List, a global inventory that assesses extinction risks to wild species.

    Guitarfishes are found in warm temperate and tropical oceans around the world. Fishers target them as an inexpensive source of protein. Guitarfishes may also be caught accidentally or collected live for the aquarium trade.

    Ultimately, however, these species are worth more as pez diablo than for other uses. For example, an entire fresh guitarfish in Mexico is worth approximately US$2, whereas guitarfish that have been killed, dried and carved into pez diablo can be worth anywhere from $50–$500 on eBay and other e-commerce sites.

    Curbing the pez diablo trade

    Internationally, the guitarfish trade is regulated by the Convention on International Trade in Endangered Species of Wild Fauna and Flora, an international agreement between governments. This agreement requires member countries to manage guitarfish trade across international borders.

    Most countries where guitarfishes occur, however, do not have national regulations to protect these species. As a result, people who create or sell pez diablo are likely unaware that these fishes are threatened.

    There are as many as 37 species of guitarfish, some of which are at higher risk of extinction than others. Yet to the untrained eye, it can be hard to distinguish one guitarfish species from another. It’s especially hard to identify dried and mutilated guitarfishes that have been processed into pez diablo and look very different from their natural form.

    An intact guitarfish, left, and a carved, dried version.
    Bryan Huerta-Beltrán, CC BY-ND

    This is a common challenge for agencies that monitor trade in animal products. The global wildlife trade is an enormous market, involving billions of animals moving through both legal and illegal channels. Many wildlife products are heavily altered, which makes it hard to identify the species and determine where the product came from.

    Another source of confusion is that many people in Mexico also refer to an invasive freshwater fish that has overrun lakes and rivers across the nation as pez diablo. This “other” pez diablo is actually a suckermouth catfish and is not at all related to any of the threatened guitarfishes. Local education efforts need to distinguish clearly between these two species, since the desired outcome is to protect guitarfish while removing the invasive catfish.

    A dried and modified guitarfish, left, compared with an invasive suckermouth catfish.
    Bryan Huerta-Beltrán, CC BY-ND

    Guitarfish CSI

    Fortunately, advances in wildlife forensics offer a way to distinguish between species. Molecular techniques have been used to identify many illegally traded species, including guitarfishes. By taking a small skin sample, scientists can use DNA to identify the species of individual pez diablo. This method can help protect endangered species by helping to ensure that laws against wildlife trafficking are followed.

    Refining this kind of molecular tool is the most promising way to improve traceability in the trade of guitarfishes. By documenting where and how pez diablo are traded, scientists and conservationists can help clarify the threats to these species. The pez diablo is an imaginary creature, but it is doing real harm to threatened guitarfishes in the world’s warm oceans.

    Bryan Huerta-Beltran receives funding from Save Our Seas Foundation.

    Nicole Phillips is affiliated with the Sawfish Conservation Society and receives funding from the Save Our Seas Foundation.

    James Marcus Drymon and Peter Kyne do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Trade in a mythical fish is threatening real species of rays that are rare and at risk – https://theconversation.com/trade-in-a-mythical-fish-is-threatening-real-species-of-rays-that-are-rare-and-at-risk-247433

    MIL OSI Analysis –

    June 17, 2025

  • MIL-OSI: DAO Fund Launches Strategic Support for SAX-iCore AI System, Second Round of Live Trading Tests Set to Begin Next Week

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, June 16, 2025 (GLOBE NEWSWIRE) — In a bold move to accelerate the future of intelligent trading, the DAO Fund has officially announced injection to support the second round of live trading tests for the SAX-iCore system, developed by SkyCrest Capital. This initiative will provide real capital to selected participants, enabling a larger-scale verification of AI-driven structure-based trading strategies in real market conditions.

    This is not just a trial — it is a direct engagement with the next generation of market behavior modeling and precision execution.

    Key Highlights of the Program:

    – Launch Date: Expected next Monday

    – Eligibility: SkyCrest Capital trainees and algorithmic strategy participants

    – Capital Support: $400 test capital per participant, funded by DAO

    – Profit Model: Participants keep all profits; losses are covered by the fund

    In other words: zero risk, real execution, and full access to AI-powered decision-making in a live trading environment.

    Why DAO Fund Supports SAX-iCore

    In its statement, the DAO Fund made its reasoning clear:

    “We are not just funding a system — we are supporting a new philosophy of trading. SAX-iCore has demonstrated that emotional decisions can be replaced with structural logic, and that volatility can become a source of systematic, repeatable gains.”

    SAX-iCore operates at the intersection of behavioral modeling, market structure recognition, and real-time execution. Its core strength lies in identifying high-probability patterns, executing without hesitation, and learning from every market cycle — all without relying on news sentiment or prediction.

    From the Founder: Ethan Carter, PhD

    “Most traders don’t lose because they lack knowledge — they lose because they follow emotions, not systems. SAX-iCore is not a black box. It is a transparent, evolving intelligence that learns from real behavior. This test is not about showcasing past results — it’s about training an AI that can think with the market.”

    The test aims to simulate the unpredictability of real capital flow, enabling SAX-iCore to refine its internal model and become a long-term asset partner for disciplined investors.

    How to Join the Test

    Registration is now open. Participants must submit the following:

    – Full Name

    – Email Address

    – Phone Number

    – Preferred Trading Time Window

    Once approved, the $400 test capital will be issued directly to each participant’s account.

    About DAO Fund

    The DAO Fund is a decentralized investment collective composed of leading blockchain-native institutions and fintech innovators. With a focus on transparency, structure, and behavioral analytics, the fund supports projects that redefine how capital interacts with data and decision-making. This partnership with SkyCrest Capital signals the DAO’s first major move into AI-driven market infrastructure.

    This isn’t a simulation. It’s your chance to step into the future of finance — and be part of building it.

    SkyCrest Capital & DAO Fund

    Media Contact

    Company Name: SkyCrest Capital

    Website: https://www.skyskinla.com/

    Contact: Audrey Sinclair

    Email: service@skyskinla.com

    Company Name: DAO Fund

    Website: https://daohaus.club

    Contact: Tom Hartwin

    Email: support@daohaus.club

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network –

    June 17, 2025

  • MIL-OSI: OTC Markets Group Welcomes Southpoint Bancshares Inc. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Southpoint Bancshares Inc. (OTCQX: SOUB), which operates primarily in the domestic commercial banking industry, has qualified to trade on the OTCQX® Best Market. Southpoint Bancshares Inc. upgraded to OTCQX from the Pink® market.

    Southpoint Bancshares Inc. begins trading today on OTCQX under the symbol “SOUB.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

    “Graduating to the OTCQX Best Market marks a significant milestone for SouthPoint Bank and reflects our unwavering commitment to transparency, sound governance, and long-term value creation. This move enhances our visibility among investors and positions us for the next phase of strategic growth. As we continue to expand our footprint across Alabama and the Southeast, we remain focused on investing in technology, deepening customer relationships, and supporting the communities we serve. We believe this upgrade will help us attract new capital, broaden our shareholder base, and accelerate our mission of delivering exceptional banking solutions,” said Steve Smith – Chairman, President and CEO of SouthPoint Bank.

    About Southpoint Bancshares Inc.
    SouthPoint Bancshares, Inc. (the Company), an Alabama corporation, operates primarily in the domestic commercial banking industry. The Company’s subsidiary, SouthPoint Bank (the Bank), was formed and incorporated in 2005 as a state-chartered bank under the Code of Alabama 1975, as amended. In January 2022, the Company also acquired Merchants Bank of Alabama, founded in 1907 and based in Cullman, Alabama, now a division of SouthPoint Bank. The Bank and its division provide full-service banking to customers primarily located in central and northern Alabama. The Bank is subject to regulation by the State of Alabama Banking Department and the Federal Deposit Insurance Corporation (FDIC). The Bank operates from its eleven branch locations in and around Birmingham, Alabama and Cullman, Alabama, and three loan production offices located throughout the State of Alabama. SPB Properties, LLC holds certain assets of the Bank and is a wholly owned subsidiary of the Bank.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATSTM are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

    June 16, 2025

  • MIL-OSI: OTC Markets Group Welcomes Southpoint Bancshares Inc. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Southpoint Bancshares Inc. (OTCQX: SOUB), which operates primarily in the domestic commercial banking industry, has qualified to trade on the OTCQX® Best Market. Southpoint Bancshares Inc. upgraded to OTCQX from the Pink® market.

    Southpoint Bancshares Inc. begins trading today on OTCQX under the symbol “SOUB.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

    “Graduating to the OTCQX Best Market marks a significant milestone for SouthPoint Bank and reflects our unwavering commitment to transparency, sound governance, and long-term value creation. This move enhances our visibility among investors and positions us for the next phase of strategic growth. As we continue to expand our footprint across Alabama and the Southeast, we remain focused on investing in technology, deepening customer relationships, and supporting the communities we serve. We believe this upgrade will help us attract new capital, broaden our shareholder base, and accelerate our mission of delivering exceptional banking solutions,” said Steve Smith – Chairman, President and CEO of SouthPoint Bank.

    About Southpoint Bancshares Inc.
    SouthPoint Bancshares, Inc. (the Company), an Alabama corporation, operates primarily in the domestic commercial banking industry. The Company’s subsidiary, SouthPoint Bank (the Bank), was formed and incorporated in 2005 as a state-chartered bank under the Code of Alabama 1975, as amended. In January 2022, the Company also acquired Merchants Bank of Alabama, founded in 1907 and based in Cullman, Alabama, now a division of SouthPoint Bank. The Bank and its division provide full-service banking to customers primarily located in central and northern Alabama. The Bank is subject to regulation by the State of Alabama Banking Department and the Federal Deposit Insurance Corporation (FDIC). The Bank operates from its eleven branch locations in and around Birmingham, Alabama and Cullman, Alabama, and three loan production offices located throughout the State of Alabama. SPB Properties, LLC holds certain assets of the Bank and is a wholly owned subsidiary of the Bank.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATSTM are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

    June 16, 2025
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