Altech Batteries (ATC:AU) has announced Altech – CERENERGY Project Secures German Grant Approval
Download the PDF here.
Altech Batteries (ATC:AU) has announced Altech – CERENERGY Project Secures German Grant Approval
Download the PDF here.
Highlights
– Altech Batteries GmbH’s CERENERGY(R) battery project has received conditional binding funding approval under Germany’s federal ‘STARK’ economic development program.
– The approval relates to a grant covering approximately 30% of eligible project CAPEX, with funding of up to EUR46.11M.
– The funding commitment is conditional on achieving full project financial close by 30 June 2026 and parliamentary approval of funds under Germany’s 2026 Federal Budget.
Conditional Binding Funding Commitment
The funding is being provided as part of the federal STARK program, which is supported by the Federal Ministry for Economic Affairs and Energy in cooperation with the EU. The aim of this program is to lead regions undergoing structural change into an ecologically, economically and socially sustainable future.
With the approval of the funding, the project has successfully completed the second and decisive stage of the approval process. The funding covers approximately 30% of the eligible investment costs and represents a significant milestone for the construction of the planned 120 MWh CERENERGY(R) battery factory in Germany.
This decision underscores the importance of the innovative CERENERGY(R) technology, which is being developed in collaboration with the Fraunhofer Society. The Sodium-Chloride Solid-State battery offers a safe, sustainable and strategically independent alternative to lithium-ion batteries and is expected to play an important role in future stationary energy storage solutions – especially for the European market.
Mr Daniel Raihani, Managing Director & Chief Executive Officer, commented ‘Securing conditional binding funding approval of up to EUR46.11 million under Germany’s STARK program is a major milestone for the CERENERGY(R) project. The support reflects the strategic importance of establishing advanced, nonlithium energy storage manufacturing capability in Europe and recognises the technical progress achieved to date in collaboration with Fraunhofer IKTS.
‘Importantly, the grant materially de-risks the project’s capital structure by covering approximately 30% of eligible investment costs and provides a strong foundation as we progress toward full project financing and construction of the planned 120 MWh production facility in Saxony, Germany.
‘We remain focused on completing financial close by mid-2026 and advancing the CERENERGY(R) technology toward commercial deployment to support long-duration, safe and sustainable stationary energy storage solutions for the European market’.
As is customary for projects of this size, the funding commitment is subject to final financial close of the CERENERGY(R) battery project by June 2026 and budgetary approval of the funds in the 2026 federal budget.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/918BT5H8
About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
Source:
Altech Batteries Ltd
Contact:
Daniel Raihani
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
News Provided by ABN Newswire via QuoteMedia
Here’s a quick recap of the crypto landscape for Monday (January 5) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin (BTC) was priced at US$94,127.01, up by 3.2 percent over 24 hours.
Bitcoin price performance, January 6, 2025.
Chart via TradingView.
Bitcoin started Monday strong, rising above US$92,000 in early trading before briefly breaking US$94,600, signaling a potential shift in near-term momentum after a bruising finish to 2025.
Research firm 10X said the move reflects a return to more normalized trading volumes and early signs of renewed institutional positioning at the start of the year. The firm notes that Bitcoin is holding above key moving averages, with the 21 day line emerging as a critical support level for maintaining upside bias.
It added that the shift suggests growing expectations for a push toward the US$100,000 level. The rebound follows three consecutive monthly declines — a historically rare pattern that has often preceded January recoveries.
“The strength across crypto and traditional safe havens reflects a rebalancing phase driven by geopolitical risk and liquidity positioning,” said Lacie Zhang, a research analyst at Bitget Wallet.
“In this setup, Bitcoin has room to push toward US$105,000, while Ethereum could test US$3,600, as traders balance inflation risks with crypto’s deflationary characteristics and long-term adoption narrative.’
Zhang said DeFi is currently driving significant growth, with protocols such as Uniswap (UNI) and Aave (AAVE) seeing benefits from improved governance, new revenue-sharing frameworks and institutional investor involvement.
“For large-cap altcoins, XRP and Solana stand out: XRP’s role in cross-border payments and improving regulatory clarity, combined with ETF inflows, could support price ranges of US$5 – US$10, while Solana’s high-throughput ecosystem and network expansion position it for US$500 – US$800 over the next growth phase.
“The renewed surge in memecoin activity reflects improving retail risk appetite,” she added. “It’s not a long-term thesis, but often a precursor to liquidity rotating into higher-quality, utility-driven altcoins as the cycle matures.”
Ether (ETH) was priced at US$3,239.82, up by 3.2 percent over the last 24 hours.
Global crypto exchange-traded products attracted US$47.2 billion in net inflows in 2025, falling just short of the prior year’s record despite a noticeable slowdown in Bitcoin demand, according to CoinShares.
Bitcoin-focused products added US$26.9 billion, a sharp drop from 2024 levels, as price weakness dampened inflows and modest interest emerged in short-bitcoin vehicles. The cooling in Bitcoin was offset by a surge into select altcoins, led by Ethereum products, which posted US$12.7 billion in inflows.
Meanwhile, XRP and Solana funds followed closely as each recorded multibillion-dollar inflows and triple-digit percentage growth year over year.
Satsuki Katayama, Japan’s finance minister, has signaled stronger government backing for integrating digital assets into the country’s stock and commodities exchanges.
Speaking at the Tokyo Stock Exchange, she emphasized the role of exchanges in expanding public access to blockchain-based assets and modern investment tools. She pointed to the US experience with crypto-linked exchange-traded funds (ETFs) as a reference point, even as Japan currently lacks domestically listed crypto ETFs.
Katayama described 2026 as a “digital year,” pledging policy support for exchanges adopting advanced trading technologies. The remarks build on regulatory reforms already underway, including discussions on allowing banks to hold crypto assets and the approval of Japan’s first yen-pegged stablecoin.
Bitget’s new Universal Exchange vision has reached two major milestones that signal a major shift in how digital and traditional assets are traded in one place. Bitget announced last week that its tokenized stock volume surpassed US$1 billion, with 95 percent of that total volume occurring in December alone.
Building on that momentum, and following a successful private beta with over 80,000 users, today Bitget officially opened its TradFi trading suite to the public, allowing customers access to 79 different instruments across forex, metals, indices and commodities. These products are traded as contracts for difference and are settled entirely in USDT, meaning crypto-native traders can execute macro strategies without leaving the platform or converting to fiat currency.
During the test phase, XAU/USD recorded over US$100 million in single-day trading volume, one of the highest daily figures observed during the beta.
“Traders want the flexibility to choose between assets in a unified ecosystem,” said Chen.
“They want the freedom to move between crypto and traditional markets as conditions change. TradFi going public is about giving them that accessibility in one place, without friction.”
The move signals a broader shift in how exchanges are evolving, not just as venues for speculation, but as comprehensive gateways to global markets under a unified trading experience.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
From established players to up-and-coming firms, Canada’s pharmaceutical landscape is diverse and dynamic.
Canadian drug companies are working to discover and develop major innovations amidst an increasingly competitive global landscape. Rising technologies such as artificial intelligence are playing a role in the landscape as well.
Read on to learn about what’s been driving the share prices of the best-performing Canadian pharma stocks.
Year-on-year gain: 26.6 percent
Market cap: C$149.8 million
Share price: C$4.76
HLS Therapeutics focuses on drugs for cardiovascular and central nervous system problems, often through partnerships. The company specializes in acquiring and commercializing pharmaceuticals that address unmet needs, including Vascepa to reduce cardiovascular risk and Clozaril for treatment-resistant schizophrenia.
HLS in-licensed the exclusive rights to the treatments Nilemdo and Nexlizet, both of which are already approved in other countries, from Esperion (NASDAQ:ESPR) in May.
The November 2025 Health Canada approval of LDL-cholesterol lowering treatment Nilemdo represents the most significant catalyst for the company since the launch of Vascepa, positioning HLS as a dominant leader in the Canadian cardiovascular market. The company is targeting Nilemdo’s commercial launch in Q2 2026.
Along with the approval, Health Canada issued a notice of non-compliance for its Nexlizet cholesterol-reducing treatment. According to HLS, the decision was related to chemistry, manufacture and controls data, not clinical data or safety.
Additionally, the company generates revenue from a diversified portfolio of royalty interests on various products marketed by third parties.
Year-on-year gain: 14.49 percent
Market cap: C$141.04 million
Share price: C$0.79
Satellos Bioscience is a Canadian pharmaceutical company expanding treatment options for muscle disorders. The company has focused specifically on Duchenne muscular dystrophy, developing therapies that target the specific biological pathways involved in regenerating and repairing muscle tissue.
Its lead candidate, SAT-3247, targets a protein called AAK1, which regulates the activity of stem cells that activate and differentiate new muscle fibers.
In Q4 2025, Satellos administered the first dose to a patient in its 11-month open-label follow-up study for adults who completed its initial Phase 1b trial. The study seeks to demonstrate the lasting impact of the significant functional improvements observed earlier in the year.
On December 9, the company received Investigational New Drug (IND) clearance from the US Food and Drug Administration (FDA) and several other global regulators to initiate BASECAMP, a global Phase 2 randomized, placebo-controlled study to evaluate SAT-3247 in pediatric patients.
Year-on-year gain: 14.29 percent
Market cap: C$592.59 million
Share price: C$6.00
Knight Therapeutics is a specialty pharmaceutical company headquartered in Montreal, Québec. It operates on an acquisition and in-licensing model, obtaining the rights to innovative medicines from global pharmaceutical companies and commercializing them across Canada and Latin America.
The company was originally founded by the former leaders of Paladin Labs, which was acquired by Endo International in 2014. In June 2025, Knight bought the Paladin business back from Endo for C$107 million, adding over 40 products to Knight’s Canadian roster.
The additions, helped drive 32 percent revenue growth year-over-year to a record C$122.55 million in Q3. The company projects its Knight Canada subsidiary will be the company’s top revenue-contributor within two years.
Year-on-year gain: 10.07 percent
Market cap: C$146.89 million
Share price: C$12.90
BioSyent is a specialty pharmaceutical company focused on in-licensing or acquiring established, high-margin healthcare products for the Canadian and international markets. Its growth is anchored by brands in iron health and women’s wellness. Its flagship brand, FeraMAX, has been Canada’s leading iron supplement for over a decade.
The company’s 2024 acquisition of Tibella, a treatment for menopausal symptoms, has been a major growth driver. According to its Q3 earnings report. BioSyent’s sales grew 19 percent year-over-year in Canada and 94 percent in the international market.
Year-on-year gain: 6.45 percent
Market cap: C$47.54 million
Share price: C$0.66
NurExone Biologic is behind ExoTherapy, a drug-delivery platform that uses exosomes, which are nano-sized extracellular vesicles, to create treatments for central nervous system disorders, spinal cord injuries and traumatic brain injuries. It is a less invasive alternative to cell transplantation, which requires surgery and carries the risk of rejection.
NurExone’s first nano-drug, ExoPTEN, uses a proprietary sIRNA sequence delivered with the ExoTherapy platform to treat spinal cord injuries. ExoPTEN received orphan drug designation from the US FDA in October 2023.
The company expects to initiate its Phase 1/2a first-in-human trial for acute spinal cord injury in the second half of 2026, targeting patients with traumatic injuries.
It continues to make significant progress, with recent preclinical studies demonstrating strong, dose-dependent vision recovery in glaucoma models and improved motor function in spinal cord injury models.
The company announced plans for a US exosome production facility in Indianapolis, Indiana, in September. According to the release, ‘The GMP compliant site would produce exosomes both for NurExone’s therapeutic pipeline and for a growing business-to-business opportunity in regenerative aesthetics.’
In December, the company began planning for small-scale production of ExoPTEN in Israel to support its clinical trial.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Centurion Minerals offers investors an early-stage entry point into a strategically located gold exploration company positioned within one of North America’s most prolific and active mining districts. With a restructured corporate foundation, and a highly experienced geological and corporate finance team, the company is primed for value-creating discoveries.
Centurion Minerals (TSXV:CTN) is a Canadian exploration company focused on the acquisition, exploration and development of precious metals projects in the Americas.
The company’s strategy is centered on advancing high-quality, early-stage gold assets through systematic exploration to define drill-ready targets and unlock the discovery potential inherent in its three-part claim package: the Newman, Noseworthy and Hepburn properties. Situated near major operations and new discoveries, these claims benefit from excellent infrastructure, year-round road access and proximity to proven mineralized structural corridors. Centurion intends to increase shareholder value through targeted geophysics, ground truthing and drilling programs designed to reveal new high-grade zones, as well as through potential future acquisitions of complementary gold assets across the Americas.
Backed by a leadership team with decades of exploration, geology, corporate finance and project development experience, Centurion is positioned to capitalize on strong gold market fundamentals and renewed investor interest in junior exploration companies. With a low current valuation and advancing work program, the company provides leverage to both exploration success and broader trends in the gold sector.
The Casa Berardi West project is Centurion’s flagship gold exploration asset, encompassing approximately 6,732 hectares across three contiguous claim groups – Newman, Noseworthy and Hepburn – located 66 km northeast of Cochrane, Ontario. The project sits along structural corridors that host some of the region’s most significant deposits, including Hecla Mining’s Casa Berardi mine (3 Moz past production, plus 4 Moz in reserves and resources), Agnico Eagle’s Detour Lake mine (15 Moz reserve, producing ~659,000 oz of gold per year ), and AMEX Exploration’s Perron discovery (1.6 Moz measured and indicated resource at 6.14 g/t gold).
Location of the three claim groups at Casa Berardi West
The project is situated within the central north Abitibi Subprovince, an Archean greenstone belt known globally for its prolific endowment of gold and base metals. The claims lie adjacent to geological features associated with multiple major deposits – iron formations, shear zones and VMS trends – creating strong analogues to high-grade gold mines such as the Musselwhite mine in Northern Ontario.
This “closeology” positioning significantly enhances the potential for Centurion’s ground to host similar mineralization.
Historic exploration across the Casa Berardi West project – spanning more than 70 RC and diamond drill holes – has already confirmed the presence of gold-bearing structures and favorable host rocks. Notably, previous work returned multiple samples above 1 g/t gold, including a standout result of 38 g/t gold, demonstrating strong mineralization potential across the claim area.
Significant historic drill results at Newman target
Across the three claim groups, drilling and geophysical surveys have identified key geological features associated with major deposits in the region, including iron formations, shear zones and sulphidized horizons. Several zones of interest remain untested or underexplored, particularly along structural trends that extend from nearby high-grade gold and VMS systems such as the Perron and Normetal areas.
These findings provide Centurion with multiple high-priority target areas for follow-up exploration, forming the foundation for its next phase of geophysical work and upcoming drill targeting.
David Tafel brings over 30 years of experience in corporate structuring, strategic planning, financing and executive management across multiple public and private resource companies. He has raised several hundred million dollars for ventures in mining, technology and life sciences, and previously managed private investment funds at Canada’s largest independent securities firm.
A seasoned financial executive with more than 20 years of experience, Jeremy Wright serves as president & CEO of Seatrend Strategy Group and has held CFO roles across numerous public companies in the resource and technology sectors. His background includes financial management, negotiations and environmental economics, supported by extensive board leadership experience.
Joseph Del Campo has served as CFO and Interim CEO across several mining companies, including Unigold and First Nickel. With decades of corporate financial leadership and board experience, he contributes deep governance, audit and operational oversight expertise to Centurion’s board.
A veteran geologist with 40+ years of industry experience, Mike Kilbourne has managed over 100,000 metres of drilling across North America and Mexico, worked as a production geologist in multiple mining environments, and generated over 700 exploration targets for private and public companies.
Jamie Lavigne is a senior exploration geologist with more than 30 years of experience in base and precious metals. He has held senior technical roles with major mining companies and specializes in advanced exploration, resource delineation and geological modeling across global mineral belts.
Dan Bongino returned to private life on Sunday after serving as deputy director of the Federal Bureau of Investigation (FBI) for less than a year.
Bongino said on X that Saturday was his last day on the job before he would return to ‘civilian life.’
‘It’s been an incredible year thanks to the leadership and decisiveness of President Trump. It was the honor of a lifetime to work with Director Patel, and to serve you, the American people. See you on the other side,’ he wrote.
The former FBI deputy director announced in mid-December that he would be leaving his role at the bureau at the start of the new year.
President Donald Trump previously praised Bongino, who assumed office in March, for his work at the FBI.
‘Dan did a great job. I think he wants to go back to his show,’ Trump told reporters.
Bongino spoke publicly about the personal toll of the job during a May appearance on ‘Fox & Friends,’ saying he had sacrificed a lot to take the role.
‘I gave up everything for this,’ he said, citing the long hours both he and FBI Director Kash Patel work.
‘I stare at these four walls all day in D.C., by myself, divorced from my wife — not divorced, but I mean separated — and it’s hard. I mean, we love each other, and it’s hard to be apart,’ he added.
Bongino’s departure leaves Andrew Bailey, who was appointed co-deputy director in September 2025, as the bureau’s other deputy director.
It can fairly be said that the most precarious jobs in the world are those of a golf ball collector at a driving range, a mascot at a Chuck E. Cheese and a Trump administration lawyer.
That was evident at the press conference yesterday as President Donald Trump blew apart the carefully constructed narrative presented earlier for the seizure of Venezuelan President Nicolás Maduro and his wife, Cilia Flores. Some of us had written that Trump had a winning legal argument by focusing on the operation as the seizure of two indicted individuals in reliance on past judicial rulings, including the decisions in the case of former Panamanian dictator Manuel Noriega.
Secretary of State Marco Rubio and Air Force Gen. Dan Caine, chairman of the Joint Chiefs of Staff, stayed on script and reinforced this narrative. Both repeatedly noted that this was an operation intended to bring two individuals to justice and that law enforcement personnel were part of the extraction team to place them in legal custody. Rubio was, again, particularly effective in emphasizing that Maduro was not the head of state but a criminal dictator who took control after losing democratic elections.
However, while noting the purpose of the capture, Trump proceeded to declare that the United States would engage in nation-building to achieve lasting regime change. He stated that they would be running Venezuela to ensure a friendly government and the repayment of seized U.S. property dating back to the government of Maduro’s mentor and predecessor, Hugo Chávez.
This city is full of self-proclaimed Trump whisperers who rarely score above random selection in their predictions. However, there are certain pronounced elements in Trump’s approach to such matters. First, he is the most transparent president in my lifetime, with prolonged (at times excruciatingly long) press conferences and a brutal frankness about his motivations. Second, he is unabashedly and undeniably transactional in most of his dealings. He is not ashamed to state what he wants the country to get out of the deal.
In Venezuela, he wants a stable partner, and he wants oil.
Chávez and Maduro had implemented moronic socialist policies that reduced one of the most prosperous nations to an economic basket case. They brought in Cuban security thugs to help keep the population under repressive conditions, as a third fled to the United States and other countries.
After an extraordinary operation to capture Maduro, Trump was faced with socialist Maduro allies on every level of the government. He is not willing to allow those same regressive elements to reassert themselves.
The problem is that, if the purpose was regime change, this attack was an act of war, which is why Rubio struggled to bring the presser back to the law enforcement purpose. I have long criticized the erosion of the war declaration powers of Congress, including my representation of members of Congress in opposition to Obama’s Libyan war effort.
The fact, however, is that we lost that case. Trump knows that. Courts have routinely dismissed challenges to undeclared military offensives against other nations. In fairness to Trump, most Democrats were as quiet as church mice when Obama and Hillary Clinton attacked Libya’s capital and military sites to achieve regime change without any authorization from Congress. They were also silent when Obama vaporized an American under this ‘kill list’ policy without even a criminal charge. So please spare me the outrage now.
My strong preferences for congressional authorization and consultation are immaterial. The question I am asked as a legal analyst is whether this operation would be viewed as lawful. The answer remains yes.
The courts have previously upheld the authority of presidents to seize individuals abroad, including the purported heads of state. This case is actually stronger in many respects than the one involving Noriega. Maduro will now make the same failed arguments that Noriega raised. He should lose those challenges under existing precedent. If courts apply the same standards to Trump (which is often an uncertain proposition), Trump will win on the right to seize Maduro and bring him to justice.
But then, how about the other rationales rattled off at Mar-a-Lago? In my view, it will not matter. Here is why:
The immediate purpose and result of the operation was to capture Maduro and to bring him to face his indictment in New York. That is Noriega 2.0. The administration put him into custody at the time of extraction with law enforcement personnel and handed him over to the Justice Department for prosecution.
The Trump administration can then argue that it had to deal with the aftermath of that operation and would not simply leave the country without a leader or stable government. Trump emphasized, ‘We’re going to run the country until such time as we can do a safe, proper and judicious transition.’
I still do not like the import of those statements. Venezuelans must be in charge of their own country and our role, if any, must be to help them establish a democratic and stable government. Trump added, ‘We can’t take a chance that somebody else takes over Venezuela that doesn’t have the good of the Venezuelan people in mind.’
The devil is in the details. Venezuelans must decide who has their best interests in mind, not the United States.
However, returning to the legal elements, I do not see how a court could free Maduro simply because it disapproves of nation-building. Presidents have engaged in such policies for years. The aftermath of the operation is distinct from its immediate purpose. Trump can argue that, absent countervailing action from Congress, he has the authority under Article II of the Constitution to lay the foundation for a constitutional and economic revival in Venezuela.
He will leave it to his lawyers to make that case. It is not the case that some of us preferred, but it is the case that he wants to be made. He is not someone who can be scripted. It is his script and he is still likely to prevail in holding Maduro and his wife for trial.
With Venezuelan dictator Nicolás Maduro extracted from Caracas on Jan. 3, Venezuelans and the world are anxious to learn about the future that awaits.
In a press conference following the Maduro operation on Saturday, President Donald Trump announced that the U.S. is ‘going to run the country’ until a transition can be safely made.
Isaias Medina, an international lawyer and former senior Venezuelan diplomat, said a peaceful transition is vital for the 9 million to 10 million Venezuelans who are forcibly displaced and living in exile. Medina, who resigned his diplomatic post in protest against Maduro’s rule in 2017, told Fox News Digital that exiled Venezuelans ‘have been preparing ourselves to go back to rebuild our nation.’
With support from international organizations like the Organization of American States, Medina said the most important next step for Venezuela is to establish a transitional government that can restore the rule of law and rebuild institutions that have been decimated under the Maduro regime. Setting in place free and fair elections is particularly important, Medina said, noting that it’s ‘a legal obligation owed to [Venezuela’s] people, because on their occupied territory, it was never equitable or really free.’
Under Maduro, Medina said that ‘there was no separation of powers, there was no rule of law, there was not even sovereignty.’ Instead, Medina said Venezuela had an occupied territory extensively influenced by terrorist and trafficking organizations Hamas, Hezbollah, the Ejército de Liberación Nacional (ELN) and the Revolutionary Armed Forces of Colombia (FARC). He said these groups were exploiting Venezuelan resources.
David Daoud, a senior fellow at the Foundation for Defense of Democracies, told Fox News Digital that so long as Venezuela poses no threat to U.S. national security, the ‘ideal situation’ for Venezuela ‘would be American guidance for determined local action.’
‘The best we can shepherd Venezuela to be is a productive member of the family of nations, and that’s something that we can help with a softer touch, without boots on the ground,’ Daoud said. ‘I don’t think we need to be in the business of trying to create Jeffersonian democracies anywhere.’
Following Maduro’s ouster, Daoud said the level of chaos allowed to exist inside Venezuela will determine whether terror groups like Hezbollah and Hamas will be able to continue operating there. ‘It would really depend — does the day after in Venezuela create a stable state that is able to properly exercise control over all its territory, is interested in implementing the rule of law, is not corrupt. That would make things very, very complicated, if not impossible, for Hezbollah to operate, at least in the way it has been operating for a decade-plus, ever since the linkage between it and the original Chávez regime came about.’
Going forward, Medina suggested that the country will also have to manage guerrilla forces like the colectivos, violent groups of Venezuelans who were armed and trained with old U.S. and Russian military weapons. Medina said having these guerrillas ‘return the weapons for freedom’ could help to ‘unite the nation under one banner of development and evolution… so that we can have a country that really meets the expectations, not only of the riches that it has, but of the people and the development of their education and training and jobs, because it has been completely destroyed by design.’
Though the road ahead is uncertain, Medina is filled with hope. ‘What we have ahead of us is a great journey to be able to build upon the ruins of what this regime left us. But I think we’re going to become stronger, and this is the moment. The time has come,’ Medina said.
It can fairly be said that the most precarious jobs in the world are those of a golf ball collector at a driving range, a mascot at a Chuck E. Cheese and a Trump administration lawyer.
That was evident at the press conference yesterday as President Donald Trump blew apart the carefully constructed narrative presented earlier for the seizure of Venezuelan President Nicolás Maduro and his wife, Cilia Flores. Some of us had written that Trump had a winning legal argument by focusing on the operation as the seizure of two indicted individuals in reliance on past judicial rulings, including the decisions in the case of former Panamanian dictator Manuel Noriega.
Secretary of State Marco Rubio and Air Force Gen. Dan Caine, chairman of the Joint Chiefs of Staff, stayed on script and reinforced this narrative. Both repeatedly noted that this was an operation intended to bring two individuals to justice and that law enforcement personnel were part of the extraction team to place them in legal custody. Rubio was, again, particularly effective in emphasizing that Maduro was not the head of state but a criminal dictator who took control after losing democratic elections.
However, while noting the purpose of the capture, Trump proceeded to declare that the United States would engage in nation-building to achieve lasting regime change. He stated that they would be running Venezuela to ensure a friendly government and the repayment of seized U.S. property dating back to the government of Maduro’s mentor and predecessor, Hugo Chávez.
This city is full of self-proclaimed Trump whisperers who rarely score above random selection in their predictions. However, there are certain pronounced elements in Trump’s approach to such matters. First, he is the most transparent president in my lifetime, with prolonged (at times excruciatingly long) press conferences and a brutal frankness about his motivations. Second, he is unabashedly and undeniably transactional in most of his dealings. He is not ashamed to state what he wants the country to get out of the deal.
In Venezuela, he wants a stable partner, and he wants oil.
Chávez and Maduro had implemented moronic socialist policies that reduced one of the most prosperous nations to an economic basket case. They brought in Cuban security thugs to help keep the population under repressive conditions, as a third fled to the United States and other countries.
After an extraordinary operation to capture Maduro, Trump was faced with socialist Maduro allies on every level of the government. He is not willing to allow those same regressive elements to reassert themselves.
The problem is that, if the purpose was regime change, this attack was an act of war, which is why Rubio struggled to bring the presser back to the law enforcement purpose. I have long criticized the erosion of the war declaration powers of Congress, including my representation of members of Congress in opposition to Obama’s Libyan war effort.
The fact, however, is that we lost that case. Trump knows that. Courts have routinely dismissed challenges to undeclared military offensives against other nations. In fairness to Trump, most Democrats were as quiet as church mice when Obama and Hillary Clinton attacked Libya’s capital and military sites to achieve regime change without any authorization from Congress. They were also silent when Obama vaporized an American under this ‘kill list’ policy without even a criminal charge. So please spare me the outrage now.
My strong preferences for congressional authorization and consultation are immaterial. The question I am asked as a legal analyst is whether this operation would be viewed as lawful. The answer remains yes.
The courts have previously upheld the authority of presidents to seize individuals abroad, including the purported heads of state. This case is actually stronger in many respects than the one involving Noriega. Maduro will now make the same failed arguments that Noriega raised. He should lose those challenges under existing precedent. If courts apply the same standards to Trump (which is often an uncertain proposition), Trump will win on the right to seize Maduro and bring him to justice.
But then, how about the other rationales rattled off at Mar-a-Lago? In my view, it will not matter. Here is why:
The immediate purpose and result of the operation was to capture Maduro and to bring him to face his indictment in New York. That is Noriega 2.0. The administration put him into custody at the time of extraction with law enforcement personnel and handed him over to the Justice Department for prosecution.
The Trump administration can then argue that it had to deal with the aftermath of that operation and would not simply leave the country without a leader or stable government. Trump emphasized, ‘We’re going to run the country until such time as we can do a safe, proper and judicious transition.’
I still do not like the import of those statements. Venezuelans must be in charge of their own country and our role, if any, must be to help them establish a democratic and stable government. Trump added, ‘We can’t take a chance that somebody else takes over Venezuela that doesn’t have the good of the Venezuelan people in mind.’
The devil is in the details. Venezuelans must decide who has their best interests in mind, not the United States.
However, returning to the legal elements, I do not see how a court could free Maduro simply because it disapproves of nation-building. Presidents have engaged in such policies for years. The aftermath of the operation is distinct from its immediate purpose. Trump can argue that, absent countervailing action from Congress, he has the authority under Article II of the Constitution to lay the foundation for a constitutional and economic revival in Venezuela.
He will leave it to his lawyers to make that case. It is not the case that some of us preferred, but it is the case that he wants to be made. He is not someone who can be scripted. It is his script and he is still likely to prevail in holding Maduro and his wife for trial.
As President Donald Trump vows to return U.S. energy investment to Venezuela, the Latin American country remains on the hook for billions of dollars owed to American energy companies following years-old legal battles over oil contracts.
Once a key supplier to global oil markets, Venezuela reshaped its relationship with international energy companies in the mid-2000s, as then-President Hugo Chávez tightened state control over the oil industry.
Between 2004 and 2007, Chávez effectively forced foreign companies to renegotiate their contracts with the government. The new terms sharply reduced the role and profits of private firms while strengthening Venezuela’s state-owned oil company, Petróleos de Venezuela, S.A. (PDVSA).
The move drove some of the world’s largest oil companies out of the country.
ExxonMobil and ConocoPhillips exited Venezuela in 2007 and later filed claims against the government in international arbitration courts. Those courts ultimately ruled in favor of the companies, ordering Venezuela to pay ConocoPhillips more than $10 billion and ExxonMobil more than $1 billion.
While precise figures are difficult to verify since Venezuela has not published comprehensive debt statistics in years, the International Monetary Fund estimates the country’s economy will total about $82.8 billion in 2025.
Debt levels, however, stand at nearly 200% of that total, meaning Venezuela owes nearly two dollars for every dollar it produces.
On top of that, Venezuela has failed to repay about $60 billion in bonds, with total foreign debt rising to roughly $150 billion when loans from its top financial bankers, including Russia and China, are included.
PDVSA also issued a bond that was supposed to be repaid in 2020, backed by a majority ownership stake in U.S.-based refiner Citgo as collateral. The state-run oil company later defaulted on that payment, putting Citgo in the legal crosshairs of creditors seeking to recover billions they are owed.
The cash-strapped country, which sits atop of the globe’s largest oil reserves, has paid only a fraction of those awards.
Chevron, however, remained in the country, becoming the only U.S. energy company still operating in Venezuela amid years of sanctions, economic collapse and political turmoil.
In a statement to Fox News Digital, Chevron said the firm was following ‘relevant laws and regulations’ but declined to comment on future investment plans in Venezuela.
‘Chevron remains focused on the safety and well-being of our employees, as well as the integrity of our assets,’ the statement added.
On Saturday, Trump told reporters at Mar-a-Lago that he wanted U.S. oil companies to ‘spend billions of dollars, fix the badly broken oil infrastructure and start making money for the country.’
He added that the United States ‘built Venezuela’s oil industry with American talent, drive and skill,’ and said that once the country’s energy sector is revived, the U.S. would sell that oil to markets around the world.
Venezuela’s heavy financial liabilities underscore the hurdles U.S. energy companies would face in committing new investment, despite Trump’s pledge to reengage.