Blackstone Minerals (BSX:AU) has announced Blackstone Secures New Diamond Drill Rig to Advance Mankayan
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The copper price climbed to a record high of US$5.64 per pound on the COMEX during the second quarter of 2025.
The price rise comes on the back of escalating trade tensions and economic chaos from the United States’ new tariff policy.
While copper was initially spared from tariffs at the start of the year, US President Donald Trump announced the US would be imposing a 50 percent tariff on all copper products entering the US. The announcement sparked speculative buying by US metals traders, who sought to position themselves ahead of the yet-to-be-announced tariff deadline.
How has this affected small-cap copper-focused companies on the TSX Venture Exchange? Read on to learn about the five best-performing junior copper stocks since the start of 2025.
Data for this article was gathered on July 17, 2025, using TradingView’s stock screener, and copper companies with market caps of over C$10 million at that time were considered.
1. Camino Minerals (TSXV:COR)
Year-to-date gain: 655.56 percent
Market cap: C$13.5 million
Share price: C$0.34
Camino Minerals is a copper exploration and development company with a portfolio of projects in South America.
Among its primary focuses since the start of the year is the construction-ready Puquois copper project in Chile, a 50/50 joint venture with Nittetsu Mining (TSE:1515). The partners jointly acquired Cuprum Resources, the project’s owner, through a October 2024 definitive agreement that was completed on April 17, and are now focused on project financing.
Prior to the closing of the acquisition, the partners completed a prefeasibility study for the project in Chile on March 17.
The study results demonstrate a post-tax net present value of US$118 million, with an internal rate of return of 23.4 percent and a payback period of 3.1 years at a fixed copper price of US$4.28. It also outlines all-in sustaining costs of US$2.00 per pound for the 14.2 year mine life.
In addition to the economic details, the included mineral resource estimate shows a measured and indicated resource of 149,000 metric tons of copper from 32.16 million metric tons of ore grading 0.46 percent copper.
Camino also owns the Los Chapitos project, located near the coastal town of Chala, Peru, which covers approximately 22,000 hectares and hosts near-surface mineralization. Nittetsu Mining has an earn-in agreement for the project through which it can earn a 35 percent interest in the project for a total investment of C$10 million over three years.
Camino announced on January 22 that it had initiated a discovery exploration program at Los Chapitos, with work funded by Nittetsu. The company said the program would consist of 11 holes and 1,200 meters of drilling along the La Estancia fault, focusing on newly identified copper breccias and mantos to determine their extension at depth.
Camino released results from the program on May 6, reporting continuity of mineralization at depth at the Pampero prospect, with a 0.5 meter interval found 157.6 meters downhole grading an average of 0.5 percent copper and 3.15 grams per metric ton (g/t) silver. The company also reported that rock chip samples at the prospect graded up to 3.8 percent copper and 4 g/t silver.
The company has continued its exploration efforts at Los Chapitos, with another fully funded campaign running from June 1 to November 30. On July 16, it reported trench results from the newly identified Mirador zone, including 1.07 percent copper over 90 meters, with a 4 meter section grading 3.05 percent copper.
Shares of Camino reached a year-to-date high of C$0.34 on July 16.
2. Finlay Minerals (TSXV:FYL)
Year-to-date gain: 425 percent
Market cap: C$15.84 million
Share price: C$0.105
Finlay Minerals is an exploration company with a portfolio of five projects in British Columbia, Canada.
In 2025, the company has largely focused on its ATTY and PIL projects, which cover 3,875 hectares and 13,374 hectares respectively in BC’s Toodoggone mining district. The region is known for copper-molybdenum-gold porphyry deposits and gold-silver epithermal deposits.
Finlay’s shares rose sharply early in the year after Amarc Resources announced the significant AuRORA discovery at its JOY property, located just south of the PIL project in the same porphyry corridor as PIL and ATTY. On January 20, shortly after the discovery, Finlay announced it would be renewing its focus on its PIL project’s PIL South target, which lies approximately 750 meters from AuRORA.
One month later, Finlay reported it had outlined numerous copper targets at both the PIL and ATTY properties after reviewing geological data, and was planning its 2025 exploration program at PIL to delineate drill targets.
Shares surged in Q2 after Finlay announced on April 17 that it had entered into an earn-in agreement with Freeport McMoRan for PIL and ATTY. Under the terms of the agreement, Freeport can earn an 80 percent stake in the properties through a total of C$35 million in exploration expenditures and C$4.1 million in cash payments over the next six years.
In an update on June 18, Finlay reported that it had begun its exploration programs at both properties, fully funded by Freeport. At both properties, exploration will include property-wide airborne magnetic surveys, and induced polarization geophysical surveys. It will also include detailed geological and alteration mapping, along with rock and soil sampling, on up to eight targets at PIL and three targets at ATTY.
The most recent news came on July 17, when Finlay announced it had increased the exploration program budget for PIL to C$2.6 million from C$750,000 and the budget for ATTY to C$1 million from C$500,000. The company stated that the additional funding will be utilized to identify and prioritize as many targets as possible for drilling in 2026.
3. King Copper Discovery (TSXV:KCP)
Year-to-date gain: 420 percent
Market cap: C$52.92 million
Share price: C$0.26
King Copper Discovery is a copper, silver and gold explorer that is developing a portfolio of projects in South America. The company changed its name from Turmalina Metals in March.
Its primary focus is the Colquemayo project in Moquegua, Peru. In July 2024, King Copper entered into an option agreement with Compania de Minas Buenaventura (NYSE:BVM) to wholly acquire the property.
The company has been relogging the historic drill core from the site. The 6,600 hectare site has seen more than 20,000 meters of historic core drilling and hosts multiple porphyry targets that have been identified but had gone untested. Highlighted drill samples show results of 2.4 percent copper and 10 grams per metric ton (g/t) silver over 237.3 meters, including 14.8 percent copper and 47 g/t silver over 31.3 meters.
In a broad corporate update on February 12, the company said it was intensifying its focus on the project and rebranding from Turmalina to reflect that. Additionally, it hired Insideo, a Lima-based environmental consulting firm, to help advance baseline studies and the drill permit process. Additionally, CEO Roger James stepped down, maintaining a seat on the board, and was replaced by Jonathan Richards as interim CEO.
On March 11, the company began trading under its new name and ticker.
The company has not provided any updates from its projects in the second quarter of the year, but shares have traded higher alongside a rising copper price. On July 15, it released an updated corporate presentation with plans for a 15,000 meter drill program in Q4 testing porphyry systems at the site with holes over 1,000 meters deep.
Shares of King Copper reached a year-to-date high of C$0.26 on July 16.
4. Amarc Resources (TSXV:AHR)
Year-to-date gain: 251.22 percent
Market cap: C$166 million
Share price: C$0.72
Amarc Resources is a copper exploration company primarily focused on advancing its JOY district in Northern British Columbia.
The 495 square kilometer property lies within the Toodoggone region and hosts the AuRORA prospect.
Shares in Amarc surged early in the year after it announced the discovery of AuRORA on January 17. In the release, it outlined the high-grade potential of the deposit, highlighting an assay of 0.63 percent copper over 162 meters, including an 81 meter intersection grading 0.92 percent copper, from near surface depths.
The exploration program was funded as part of a May 2021 earn-in agreement with Freeport McMoran that could see Freeport earn a 70 percent stake in the project once funding milestones are met.
Amarc provided more drill assays from its 2024 program on February 28. One assay graded 0.63 percent copper over 132 meters, including 0.81 percent over a 90 meter segment.
On February 11, Amarc agreed to acquire the Brenda property, which lies directly to the east of the AuRORA discovery, from Canasil Resources. Under the terms of the deal, Amarc has the option to acquire a 100 percent interest in Brenda over five years. Canasil will retain a 2 percent net smelter return.
The most recent news from JOY came on July 16, when the company announced it commenced drilling at targets including the AuRORA and PINE deposits and the Twins and Canyon discoveries. The announcement also reported the expansion of the JOY district through Freeport’s options on Finlay’s PIL property.
In addition to exploration at JOY, Amarc also released assay results from its 2024 exploration at its IKE copper-gold project in Southern British Columbia on May 14. The company reported copper grades of 0.29 percent copper over 181 meters, including an intersection with 0.56 percent copper over 60 meters.
Shares in Armac reached a year-to-date high of C$0.77 on July 4.
5. C3 Metals (TSXV:CCCM)
Year-to-date gain: 233.33 percent
Market cap: C$74.91 million
Share price: C$0.80
C3 Metals is an exploration company working to advance its assets in Jamaica and Peru.
C3’s primary Jamaican asset is the Bellas Gate project, a 13,020 hectare site featuring 14 porphyry and over 30 epithermal prospects along an 18 kilometer strike. To date, drilling at the site has concentrated on a 4 kilometer zone encompassing the Provost, Geo Hill, Camel Hill and Connors prospects.
Shares of C3 experienced significant gains after it announced on February 11 that it had signed an earn-in agreement with a Freeport-McMoRan subsidiary, which can gain up to a 75 percent interest in the project. Under the agreement, Freeport must contribute US$25 million in exploration and project expenditures over five years to earn the initial 51 percent interest, and an additional US$50 million over the following four years for the remaining 24 percent.
In Peru, C3 has focused on advancing its Jasperoide copper-gold project. The site in Southern Peru spans 30,000 hectares and hosts two porphyry and more than 15 skarn prospects across two 28 kilometer belts.
According to a July 2023 technical report, a resource estimate outlines a measured and indicated resource of 51.94 million metric tons of ore with an average grade of 0.5 percent copper and 0.2 g/t gold for contained metal totaling 569.1 million pounds of copper and 326,800 ounces of gold.
C3 released an exploration update from its Khaleesi copper-gold project area in Jasperoide on February 19, reporting that a soil sampling campaign defined a copper-molybdenum anomaly extending 1,900 meters by up 650 meters. Two zones contain average concentrations of 950 parts per million copper and 650 ppm of copper.
The company said it is working to complete geophysical surveys by the end of March and will use the data to implement a maiden diamond drill program at the target. It closed a US$11.5 million bought-deal private placement on March 19 that will be used in part for exploration and development at the Khaleesi target.
The company has not provided further updates on the project.
Shares of C3 reached a year-to-date high of C$0.80 on July 17.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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Samsung Electronics has entered into a $16.5 billion contract for supplying semiconductors to Tesla, based on a regulatory filing by the South Korean firm and Tesla CEO Elon Musk’s posts on X.
The memory chipmaker, which had not named the counterparty, mentioned in its filing that the effective start date of the contract was July 26, 2025 — receipt of orders — and its end date was Dec. 31, 2033.
However, Musk later confirmed in a reply to a post on social media platform X that Tesla was the counterparty.
He also posted: “Samsung’s giant new Texas fab will be dedicated to making Tesla’s next-generation AI6 chip. The strategic importance of this is hard to overstate. Samsung currently makes AI4.TSMC will make AI5, which just finished design, initially in Taiwan and then Arizona.”
“Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress,” Musk said on X, and suggested that the deal with Samsung could likely be even larger than the announced $16.5 billion.
Samsung earlier said that details of the deal, including the name of the counterparty, will not be disclosed until the end of 2033, citing a request from the second party “to protect trade secrets,” according to a Google translation of the filing in Korean on Monday.
“Since the main contents of the contract have not been disclosed due to the need to maintain business confidentiality, investors are advised to invest carefully considering the possibility of changes or termination of the contract,” the company said.
The company’s shares rose over 6% in trading on Monday to reach their highest level since September 2024.
Tesla was a probable customer, Ray Wang, research director of semiconductors, supply chain and emerging technology at The Futurum Group, told CNBC before Musk’s post. Bloomberg News had earlier reported that Samsung’s deal was with Tesla, citing a source.
Samsung’s foundry service manufactures chips based on designs provided by other companies. It is the second largest provider of foundry services globally, behind Taiwan Semiconductor Manufacturing Company.
The company stated in April that it aimed to commence 2 nanometer mass production in its foundry business and secure major orders for the next-generation technology. In semiconductor technology, smaller nanometer sizes signify more compact transistor designs, which lead to greater processing power and efficiency.
Local South Korean media outlets have also reported that American chip firm Qualcomm could place an order for chips manufactured using Samsung’s 2 nanometer technology.
Samsung, which is set to deliver earnings on Thursday, expects its second-quarter profit to more than halve. An analyst previously told CNBC that the disappointing forecast was due to weak orders for its foundry business and as the company has struggled to capture AI demand for its memory business.
The company has fallen behind competitors SK Hynix and Micron in high-bandwidth memory chips — an advanced type of memory used in AI chipsets.
SK Hynix, the leader in HBM, has become the main supplier of these chips to American AI behemoth Nvidia. While Samsung has reportedly been working to get the latest version of its HBM chips certified by Nvidia, a report from a local outlet suggests these plans have been pushed back to at least September.
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After spiraling from crisis to crisis over much of the past seven years, Boeing is stabilizing under CEO Kelly Ortberg’s leadership.
Ortberg, a longtime aerospace executive and an engineer whom the manufacturer plucked from retirement to fix the problem-addled company last year, is set this week to outline significant progress since he took the helm a year ago. Boeing reports quarterly results and gives its outlook on Tuesday.
So far, investors are liking what they’ve been seeing. Shares of the company are up more than 30% so far this year.
Wall Street analysts expect the aircraft manufacturer to halve its second-quarter losses from a year ago when it reports. Ortberg told investors in May that the manufacturer expects to generate cash in the second half of the year. Boeing’s aircraft production has increased, and its airplane deliveries just hit the highest level in 18 months.
It’s a shift for Boeing, whose successive leaders missed targets on aircraft delivery schedules, certifications, financial goals and culture changes that frustrated investors and customers alike, while rival Airbus pulled ahead.
“The general agreement is that the culture is changing after decades of self-inflicted knife wounds,” said Richard Aboulafia, managing director at AeroDynamic Advisory, an aerospace consulting firm.
Analysts expect the company to post its first annual profit since 2018 next year.
“When he got the job, I was not anywhere as near as optimistic as today,” said Douglas Harned, senior aerospace and defense analyst at Bernstein.
Ortberg’s work was already cut out for him, but the challenges multiplied when he arrived.
As the company hemorrhaged cash, Ortberg announced massive cost cuts, including laying off 10% of the company. Its machinists who make the majority of its airplanes went on strike for seven weeks until the company and the workers’ union signed a new labor deal. Ortberg also oversaw a more than $20 billion capital raise last fall, replaced the head of the defense unit and sold off its Jeppesen navigation business.
Ortberg bought a house in the Seattle area, where Boeing makes most of its planes, shortly after taking the job last August, and his presence has been positive, aerospace analysts have said.
“He’s showing up,” Aboulafia said. “You show up, you talk to people.”
Boeing declined to make Ortberg available for an interview.
Boeing’s leaders hoped for a turnaround year in 2024. But five days in, a door-plug blew out of a nearly new Boeing 737 Max 9 as it climbed out of Portland. The almost-catastrophe brought Boeing a production slowdown, renewed Federal Aviation Administration scrutiny and billions in cash burn.
Key bolts were left off the plane before it was delivered to Alaska Airlines. It was the latest in a series of quality problems at Boeing, where other defects have required time-consuming reworking.
Boeing had already been reeling from two deadly Max crashes in 2018 and 2019 that sullied the reputation of America’s largest exporter. The company in May reached an agreement with the Justice Department to avoid prosecution stemming from a battle over a previous criminal conspiracy charge tied to the crashes. Victims’ family members slammed the deal when it was announced.
For years, executives at top Boeing airline customers complained publicly about the manufacturer and its leadership as they grappled with delays. Ryanair CEO Michael O’Leary told investors in May 2022 that management needed a “reboot or boot up the arse.”
Last week, O’Leary had a different tune.
“I continue to believe Kelly Ortberg, [and Boeing Commercial Airplane unit CEO] Stephanie Pope are doing a great job,” he said on an earnings call. “I mean, there is no doubt that the quality of what is being produced, the hulls in Wichita and the aircraft in Seattle has dramatically improved.”
United Airlines CEO Scott Kirby cast doubt over the Boeing 737 Max 10 after the January 2024 door-plug accident, as the carrier prepared not to have that aircraft in its fleet plan. The plane is still not certified, but Kirby has said Boeing has been more predictability on airplane deliveries.
Still, delays for the Max 10, the largest of the Max family, and the yet-to-be certified Max 7, the smallest, are a headache for customers, especially since having too few or too many seats on a flight can determine profitability for airlines.
“They’re working the right problems. The consistency of deliveries is much better,” Southwest Airlines CEO Bob Jordan said in an interview last month. “But there’s no update on the Max 7. We’re assuming we are not flying it in 2026.”
Boeing under Ortberg still has much to fix.
The FAA capped Boeing’s production at 38 Maxes a month, a rate that it has reached. To go beyond that, to a target of 42, Boeing will need the FAA’s blessing.
Ortberg said this year that the company is stabilizing to go beyond that rate. Manufacturers get paid when aircraft are delivered, so higher production is key.
“I would suspect they would be having those discussions very soon,” Harned said. “It’s 47 [a month] that I think is the challenging break.”
He added that Boeing has a lot of inventory on hand to help increase production.
Its defense unit has also suffered. The defense unit encompasses programs like the KC-46 tanker program and Air Force One, which has drawn public ire from President Donald Trump. Trump, frustrated with delays on the two new jets meant to serve the president, turned to a used Qatari Boeing 747 to potentially use as a presidential aircraft, though insiders say that used plane could require months of reoutfitting.
Ortberg replaced the head of that unit last fall.
A strike could also be on the horizon at the defense unit after factory workers “overwhelmingly” rejected a new labor deal, according to their union, the International Association of Machinists and Aerospace Workers Local 837.
“The proposal from Boeing Defense fell short of addressing the priorities and sacrifices of the skilled IAM Union workforce,” the union said Sunday. “Our members are standing together to demand a contract that respects their work and ensures a secure future.”
There is a seven-day cooling off period before a strike would begin, if a new deal isn’t reached.
“They’re not totally out of the woods,” Harned said.
Boeing and Ortberg also need to start thinking about a new jet, some industry members said. Its best-selling 737 first debuted in 1967, and the company was looking at a midsize jetliner before the two crashes sent its attention elsewhere.
“Already there’s been a reversal from ‘read my lips, no new jet.’ I would like to see that accelerate,” Aboulafia said. “He is the guy to make that happen.”
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Former President Barack Obama issued a rare statement weighing in on the hunger situation in Gaza on Sunday, suggesting aid must flow to Palestinians regardless of whether Israel can secure a hostage deal for now.
Obama made the statement on social media in reference to reporting from the New York Times stating that ‘Gazans are dying of starvation.’ Israel, which blockaded aid to Gaza earlier this year, has recently begun to airdrop aid resources into the region, and its leaders argue reports of starvation are a false campaign promoted by Hamas. Reporting from Fox News’ Trey Yingst has indicated that hunger is indeed spreading across the region, however.
‘While a lasting resolution to the crisis in Gaza must involve a return of all hostages and a cessation of Israel’s military operations, these articles underscore the immediate need for action to be taken to prevent the travesty of innocent people dying of preventable starvation,’ Obama wrote on X, providing a link to the Times.
‘Aid must be permitted to reach people in Gaza. There is no justification for keeping food and water away from civilian families,’ he added.
President Donald Trump touted U.S. efforts to provide aid to Gaza when asked about the situation on Sunday. Meeting with European Commission President Ursula von der Leyen at the time, he stated that Europe has not provided aid to Gaza. He also said that Hamas is stealing much of the aid being sent to Palestinians, a claim Israel has put forward repeatedly.
‘When I see the children and when I see, especially over the last couple of weeks people are stealing the food, they’re stealing the money, they’re stealing the money for the food. They’re stealing weapons, they’re stealing everything,’ Trump told reporters.
‘It’s a mess, that whole place is a mess. The Gaza Strip, you know it was given many years ago so they could have peace. That didn’t work out too well,’ he added.
The IDF says it conducted 28 drops in a matter of hours on Sunday, in addition to transferring some 250 aid trucks over the course of the week.
‘Let me be clear: Israel supports aid for civilians, not for Hamas. The IDF will continue to support the flow of humanitarian aid to the people of Gaza,’ an IDF spokesperson said Sunday.
Israeli Prime Minister Benjamin Netanyahu has also pushed back on criticism of his regime, arguing that the United Nations has been falsely pushing claims of widespread starvation. He told the Jerusalem Post on Sunday that it has long been Israel’s policy to allow aid into Gaza so long as it did not benefit Hamas.
‘We’ve done this so far,’ Netanyahu told the paper. ‘But the U.N. is spreading lies and falsehoods about Israel. They say we don’t allow humanitarian supplies in, yet we do. There are secure corridors. They’ve always existed, but now it’s official. No more excuses.’
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Artificial intelligence is no longer a niche tool for tech labs or science-fiction thrillers. It’s now the battleground where the future of American power, prosperity, and freedom will be decided. With the release of ‘Winning the AI Race: America’s AI Action Plan,’ the Trump administration is rightfully treating this moment as the 21st-century equivalent of the space race or the nuclear age.
This bold strategy outlines over 90 policy actions that span three key pillars: Accelerating Innovation, Building American AI Infrastructure, and Leading in International Diplomacy and Security. Each of these pillars sends a clear message to the world: America intends to lead – not follow – on artificial intelligence.
And we must. This is a race we can’t afford to lose.
President Donald Trump’s AI plan: strong, strategic and patriotic
The Trump administration’s plan does what Washington too often fails to do: it combines vision with action. From fast-tracking permits for critical data centers and chip fabrication plants, to expanding the skilled trades workforce needed to maintain those facilities, the plan hits both high-tech and firsthand realities.
Crucially, the plan calls for exporting secure, full-stack American AI packages – hardware, software, models, applications and standards – to trusted allies. That’s smart policy. In a world where China exports authoritarian surveillance technology, America must counter with liberty-based alternatives.
And most refreshingly, the plan defends free speech. It mandates that federal procurement contracts only go to developers of large language models that are free from ideological censorship. That’s a huge win for constitutional values in a time when Big Tech algorithms increasingly silence dissent.
But here’s the hard truth: AI could also unleash chaos
The optimism in this action plan is well-founded – but incomplete. As foreign policy analysts Matan Chorev and Joel Predd recently warned in their Foreign Policy article, the U.S. must also assume the worst about artificial intelligence – especially artificial general intelligence (AGI). That’s the version of AI that can perform at or above human levels across a wide range of tasks.
Unlike nuclear weapons, AGI won’t announce itself with a mushroom cloud. It may slip quietly into our systems, our economy and even our military decision-making – without a clear warning shot. The nightmare scenario? A rogue AI, either built by an enemy nation or evolving beyond human control, triggering economic collapse or catastrophic warfare.
That’s why the U.S. must not only pursue victory in AI, but vigilance. Planning for worst-case scenarios isn’t fearmongering – it’s common sense. The COVID-19 pandemic taught us what happens when leaders fail to prepare for known risks. With AI, we may not get a second chance.
We need break-glass plans — now
What happens if a U.S. company suddenly claims to have developed AGI and asks for national security protections – access to classified data, regulatory exemptions and federal backing? What if China gets there first?
The Biden-era playbook of strategic ambiguity and global appeasement won’t cut it. America needs break-glass protocols: clear, tested plans to respond to AI emergencies – whether cyberattacks, misinformation campaigns or autonomous systems going rogue.
This requires massive coordination across the Pentagon, the Department of Homeland Security, our intelligence community and private industry. The federal government must build the analytical muscle to separate hype from real breakthroughs – and act fast when a threat emerges.
Cyber defenses must be ‘attribution-agnostic’
Advanced AI attacks may not come with a digital return address. Whether an attack comes from Beijing, a terrorist network or a self-replicating algorithm, our cyber defenses must be able to detect, contain and recover without waiting for attribution.
That means hardening critical infrastructure, isolating vulnerable data centers and ensuring military continuity of operations in a high-tech crisis. These aren’t science-fiction concerns – they’re strategic imperatives.
The world needs American values — not just American technology
The Trump administration’s emphasis on exporting U.S. technology to allies is critical – but we must also export American values. Freedom. Accountability. Innovation with restraint. Our allies want alternatives to China’s surveillance-driven tech regime. America can lead that coalition – but only if we speak as clearly about ethics as we do about engineering.
David Sacks, the White House’s AI and crypto czar, put it plainly: ‘To win the AI race, the U.S. must lead in innovation, infrastructure, and global partnerships. At the same time, we must center American workers and avoid Orwellian uses of AI.’
He’s right. Victory in AI is not just about lines of code – it’s about preserving what it means to be human in an age of machines.
Bold innovation, clear-eyed preparedness
Winning the AI Race is a historic first step. It champions free markets, American jobs, national strength and liberty-based governance in the AI era. But we must not mistake ambition for immunity.
America needs a dual-track strategy: drive innovation with urgency – and prepare for disaster with equal urgency. Our adversaries won’t wait. Neither will the technology.
We can – and must – lead the world into the AI future. But let’s do it with eyes wide open, grounded in our values and ready for anything.
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Lu177-B7H3 monoclonal antibody is first in class targeted radiopharmaceutical in development against the 4lg subtype of B7-H3
On track to initiate first-in-human study of RV-01 in solid tumors in 4Q25
Radiopharm Theranostics (ASX: RAD,OTC:RDPTF, Nasdaq: RADX, ‘Radiopharm’ or the ‘Company’), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, today announced that the U.S. Food and Drug Administration (FDA) has provided clearance of the Company’s Investigational New Drug (IND) application for Betabart (RV-01), its Lu177-B7H3 monoclonal antibody designed with strong affinity for the 4Ig isoform of B7H3 that is highly expressed in tumors and not in healthy tissues.
‘FDA clearance to initiate our first-in-human Phase 1 clinical trial of RV-01 represents a major milestone for Radiopharm Theranostics and our joint venture with MD Anderson Cancer Center,’ said Riccardo Canevari, CEO and Managing Director. ‘RV-01 is the first monoclonal antibody developed through this collaboration, and we believe it has the potential to become a highly differentiated radiopharmaceutical for patients with aggressive solid tumors. We are excited to advance this program into the clinic and anticipate dosing the first patients later this year.’
‘Recent reported preclinical studies demonstrated that RV-01 exhibits hepatic clearance, allowing the isotope sufficient time to effectively target tumors while potentially minimizing adverse effects such as hematological toxicities. Unlike peptides or small molecules, monoclonal antibodies are primarily cleared by the liver—an organ known for its radio-resistance. This characteristic, combined with the shortened half-life of RV-01 and the strong affinity for the target make this agent stand out and may offer a significant advantage not just over other monoclonal antibodies but also targeted radiotherapeutics with renal excretion pathway, the latter of which are often associated with higher risk of radiopharmaceutical-induced kidney toxicity,’ noted Dimitris Voliotis, M.D., Chief Medical Officer of Radiopharm Theranostics.
‘The high affinity and selectivity of RV-01 for the 4Ig isoform of B7H3 allows the antibody to bypass the soluble 2Ig isoform in the blood, boost binding of the radiopharmaceutical to tumor targets and avoid the formation of immune complexes in circulation,’ noted David Piwnica-Worms, M.D., Ph.D., Professor, MD Anderson Cancer Center, and scientific co-founder of Radiopharm Ventures.
B7-H3 is an immune checkpoint molecule that is overexpressed across several tumor types and has emerged as a compelling target for antibody-based cancer immunotherapy. Deregulated B7-H3 expression is consistently correlated with enhanced tumor aggressiveness and poor clinical outcomes. Targeting the 4 Ig isoform of B7-H3 with a selective radioligand therapy may offer a novel strategy for treating refractory or high-risk tumors.
About RV-01
RV-01 is the first radiopharmaceutical therapeutic agent developed by Radiopharm Ventures, the Joint Venture formed between Radiopharm Theranostics and MD Anderson Cancer Center (MDACC). RV-01 is a 177Lutetium-conjugated therapeutic that targets B7-H3, an immune checkpoint molecule that is overexpressed in several tumor types. Multiple preclinical studies with RV-01 have shown tumor shrinkage and prolonged survival in animals treated with the radiotherapeutic agent. RV-01 has received IND-clearance from the U.S. FDA and plans to initiate a first-In-human Phase 1 study in the second half of 2025.
About Radiopharm Theranostics
Radiopharm Theranostics is a clinical stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm is listed on ASX (RAD) and on NASDAQ (RADX). The company has a pipeline of distinct and highly differentiated platform technologies spanning peptides, small molecules and monoclonal antibodies for use in cancer. The clinical program includes one Phase 2 and three Phase 1 trials in a variety of solid tumor cancers including lung, breast, and brain. Learn more at radiopharmtheranostics.com .
Authorized on behalf of the Radiopharm Theranostics Board of Directors by Executive Chairman Paul Hopper.
For more information:
Investors:
Riccardo Canevari
CEO & Managing Director
P: +1 862 309 0293
E: rc@radiopharmtheranostics.com
Anne Marie Fields
Precision AQ (formerly Stern IR)
E: annemarie.fields@precisionaq.com
Media:
Matt Wright
NWR Communications
P: +61 451 896 420
E: matt@nwrcommunications.com.au
Follow Radiopharm Theranostics:
Website – https://radiopharmtheranostics.com/
X – https://x.com/TeamRadiopharm
LinkedIn – https://www.linkedin.com/company/radiopharm-theranostics/
InvestorHub – https://investorhub.radiopharmtheranostics.com/
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Here’s a quick recap of the crypto landscape for Wednesday (July 23) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$118,148, down by 0.7 percent over the last 24 hours. Its highest valuation on Wednesday was US$118,462, while its lowest valuation was US$117,583.
Bitcoin price performance, July 23, 2025.
Chart via TradingView.
Bitcoin traded lower over the past 24 hours, hovering between $117,000 and $120,000 amid several market pressures.
A major whale moved over US$1.2 billion in dormant BTC, sparking speculation of potential selling.
After a rotation into altcoins, investors took profits following recent highs, while outflows from spot exchange-traded funds (ETFs) signaled weaker institutional demand.
Ethereum (ETH) was priced at US$3,592.65, down by 1.9 percent over the past 24 hours. Its lowest valuation as of Wednesday was US$3,568.86, and its highest was US$3,657.02.
Altcoin price update
- Solana (SOL) was priced at US$188.86, down by 5.5 percent over 24 hours. Its lowest valuation on Wednesday was US$186.95, and its highest was US$192.58.
- XRP was trading for US$3.25, down 8.9 percent in the past 24 hours. Its lowest valuation of the day was US$3.18, and its highest valuation was US$3.36.
- Sui (SUI) is trading at US$3.70, down 5.5 percent over the past 24 hours. Its lowest valuation of the day was US$3.67, and its highest was US$3.84.
- Cardano (ADA) was trading at US$0.8152, down by 6.9 percent over 24 hours. Its lowest valuation on Wednesday was US$0.8058, and its highest was US$0.8370.
Today’s crypto news to know
PNC Bank and Coinbase partner to advance digital asset solutions
PNC Bank and Coinbase Global (NASDAQ:COIN) have announced a strategic partnership to broaden access to digital asset solutions for PNC’s clients and institutional investors.
The collaboration will leverage Coinbase’s crypto-as-a-service platform, enabling PNC to offer secure and scalable cryptocurrency access. PNC clients will be able to buy, hold and sell cryptocurrencies directly through PNC’s platform.
PNC will also provide essential banking services to Coinbase, signifying a mutual commitment to strengthening the digital financial system. Both companies emphasize that this partnership will meet the increasing demand for secure and streamlined digital asset access.
Goldman Sachs and BNY to launch tokenized money market funds
Goldman Sachs (NYSE:GS) and BNY (NYSE:BK) are preparing to offer institutional investors access to tokenized money market funds, aiming to enhance capital markets with real-time settlement, 24/7 access and increased efficiencies.
BNY clients will soon be able to invest in money market funds with ownership recorded on Goldman Sachs’ private blockchain, as per a Wednesday news release.
“As the financial system transitions toward a more digital, real-time architecture, BNY is committed to enabling scalable and secure solutions that shape the future of finance,” said Laide Majiyagbe, global head of liquidity, financing and collateral at BNY, adding that mirrored tokenization of money market funds is the first step.
This initiative involves major players such as BlackRock (NYSE:BLK), Fidelity Investments, Federated Hermes and the asset management divisions of Goldman and BNY.
Tokenized money market funds offer a contrast to interest-bearing stablecoins, which are specifically prohibited under the GENIUS Act, which was signed into law last week. They provide yield, which makes them a low-volatility tool for hedge funds, pensions and corporations.
SEC halts Bitwise crypto index ETF conversion for review
On Tuesday (July 22), the US Securities and Exchange Commission’s (SEC) Division of Trading and Markets approved the Bitwise 10 Crypto Index to convert to an ETF, only to immediately pause it for review.
In a letter issued later that day, SEC Assistant Secretary Sherry Haywood said that the order will remain “stayed until the Commission orders otherwise.” Bloomberg ETF analyst Eric Balchunas has suggested that the SEC might be delaying its approval until it establishes a listing standard for crypto ETFs.
Bitwise had applied for this conversion in November for its fund, which offers exposure to a range of cryptocurrencies.
Nate Geraci, president of NovaDius Wealth Management, described the situation as “bizarre,” drawing parallels to the Grayscale Digital Large Cap ETF conversion, which experienced a similar approval and subsequent pause on July 1.
Bitcoin millionaires surge by 16,000 in 2025, according to report
Nearly 16,000 new Bitcoin wallets have crossed the million-dollar threshold since Donald Trump assumed the presidency in January 2025, according to a Finbold report. The number of Bitcoin millionaires is up from 132,842 in November 2024 to 192,205 as of July 20, marking a 45 percent increase in just eight months.
Large holders with over US$10 million in BTC also saw gains exceeding 16 percent in the same period.
The surge has been linked to renewed investor optimism following Trump’s re-election, along with clear signals of regulatory support and clarity for digital assets.
A significant boost came this week when the US House passed the Genius Act. The legislation, expected to streamline compliance for institutions, is widely seen as the most comprehensive federal crypto framework to date.
The rapidly changing policy environment has encouraged capital inflows and bolstered confidence in US-based crypto markets, with the resulting daily average tallying to 88 new Bitcoin millionaires in 2025 alone.
South Korea warns fund managers to reduce exposure to crypto stocks
South Korea’s Financial Supervisory Service (FSS) has issued informal warnings to asset managers over their exposure to crypto-related stocks and ETFs. According to the Korea Herald, firms with significant holdings in US-listed crypto companies such as Coinbase and Strategy (NASDAQ:MSTR) were reportedly told to scale back.
The directive follows the FSS’s longstanding 2017 stance prohibiting direct investment in virtual assets by financial institutions, despite recent global shifts in crypto regulation. While the agency has been reviewing possible easing of crypto rules, officials reportedly said that licensed entities must continue observing current guidelines.
The FSS has not yet issued a formal statement regarding the report.
PayPal unveils cross-border wallet platform
PayPal (NASDAQ:PYPL) has launched PayPal World, a cross-border payments network that integrates several of the world’s largest digital wallets, aiming to simplify international commerce for billions.
The platform’s initial partners include India’s UPI (via NPCI International), China’s Weixin Pay (via Tenpay Global) and PayPal’s own services including Venmo.
A memorandum of understanding has also been signed with Mercado Pago in Latin America.
According to PayPal CEO Alex Chriss, the initiative allows users to pay with their native wallets regardless of location. Chriss called it a potential “game changer” for frictionless payments in travel and e-commerce.
“The challenge of moving money across borders is incredibly complex, and yet this platform will make it so simple for nearly two billion consumers and businesses,’ Chriss said a recent press release.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Director of National Intelligence Tulsi Gabbard declassified a slew of documents this month, revealing that Obama administration officials ‘manufactured’ intelligence to push the Trump-Russia collusion narrative.
Here’s a look at the newly declassified records:
Declassified Presidential Daily Brief
Documents revealed that in the months leading up to the November 2016 election, the intelligence community consistently assessed that Russia was ‘probably not trying … to influence the election by using cyber means.’
One instance was on Dec. 7, 2016, weeks after the election. Then-Director of National Intelligence James Clapper’s talking points stated, ‘Foreign adversaries did not use cyberattacks on election infrastructure to alter the U.S. presidential election outcome.’
Fox News Digital obtained a declassified copy of the Presidential Daily Brief, which was prepared by the Department of Homeland Security, with reporting from the CIA, Defense Intelligence Agency, FBI, National Security Agency, Department of Homeland Security, State Department and open sources, for Obama, dated Dec. 8, 2016.
‘We assess that Russian and criminal actors did not impact recent U.S. election results by conducting malicious cyber activities against election infrastructure,’ the Presidential Daily Brief stated. ‘Russian Government-affiliated actors most likely compromised an Illinois voter registration database and unsuccessfully attempted the same in other states.’
But the brief stated that it was ‘highly unlikely’ the effort ‘would have resulted in altering any state’s official vote result.’
‘Criminal activity also failed to reach the scale and sophistication necessary to change election outcomes,’ it stated.
The brief noted that the Office of the Director of National Intelligence assessed that any Russian activities ‘probably were intended to cause psychological effects, such as undermining the credibility of the election process and candidates.’
The brief stated that cyber criminals ‘tried to steal data and to interrupt election processes by targeting election infrastructure, but these actions did not achieve a notable disruptive effect.’
Fox News Digital obtained declassified, but redacted, communications from the FBI in the Presidential Daily Brief, stating that it ‘should not go forward until the FBI’ had shared its ‘concerns.’
Those communications revealed that the FBI drafted a ‘dissent’ to the original Presidential Daily Brief.
The communications revealed that the brief was expected to be published Dec. 9, 2016, the following day, but later communications revealed the Office of the Director of National Intelligence, ‘based on some new guidance,’ decided to ‘push back publication’ of the Presidential Daily Brief.
‘It will not run tomorrow and is not likely to run until next week,’ wrote the deputy director of the Presidential Daily Brief at the Office of the Director of National Intelligence, whose name is redacted.
The following day, Dec. 9, 2016, a meeting convened in the White House Situation Room, with the subject line starting: ‘Summary of Conclusions for PC Meeting on a Sensitive Topic (REDACTED.)’
The meeting included top officials in the National Security Council, Clapper, then-CIA Director John Brennan, then-National Security Advisor Susan Rice, then-Secretary of State John Kerry, then-Attorney General Loretta Lynch, then-Deputy FBI Director Andrew McCabe, among others, to discuss Russia.
The declassified meeting record, obtained by Fox News Digital, revealed that principals ‘agreed to recommend sanctioning of certain members of the Russian military intelligence and foreign intelligence chains of command responsible for cyber operations as a response to cyber activity that attempted to influence or interfere with U.S. elections, if such activity meets the requirements’ from an executive order that demanded the blocking of property belonging to people engaged in cyber activities.
After the meeting, according to the Office of the Director of National Intelligence, Clapper’s executive assistant emailed intelligence community leaders tasking them to create a new intelligence community assessment ‘per the president’s request’ that detailed the ‘tools Moscow used and actions it took to influence the 2016 election.’
‘ODNI will lead this effort with participation from CIA, FBI, NSA, and DHS,’ the record states.
Later, Obama officials ‘leaked false statements to media outlets’ claiming that ‘Russia has attempted through cyber means to interfere in, if not actively influence, the outcome of an election.’
By Jan. 6, 2017, a new Intelligence Community Assessment was released that, according to the Office of the Director of National Intelligence, ‘directly contradicted the IC assessments that were made throughout the previous six months.’
Intelligence officials told Fox News Digital that the ICA was ‘politicized’ because it ‘suppressed intelligence from before and after the election showing Russia lacked intent and capability to hack the 2016 election.’
Officials also said it deceived the American public ‘by claiming the IC made no assessment on the ‘impact’ of Russian activities,’ when the intelligence community ‘did, in fact, assess for impact.’
‘The unpublished December PDB stated clearly that Russia ‘did not impact’ the election through cyber hacks on the election,’ an official told Fox News Digital.
The official also said the ICA had assessed that ‘Russia was responsible for leaking data from the DNC and DCCC,’ while ‘failing to mention that FBI and NSA previously expressed low confidence in this attribution.’
Officials said the intelligence was ‘politicized’ and then ‘used as the basis for countless smears seeking to delegitimize President Trump’s victory, the years-long Mueller investigation, two Congressional impeachments, high level officials being investigated, arrested, and thrown in jail, heightened US-Russia tensions, and more.’
Declassified House Intelligence Committee Report
A report prepared by the House Permanent Select Committee on Intelligence in 2020 said the intelligence community did not have any direct information that Russian President Vladimir Putin wanted to help elect Donald Trump during the 2016 presidential election, but, at the ‘unusual’ direction of then-President Barack Obama, published ‘potentially biased’ or ‘implausible’ intelligence suggesting otherwise.
The report, based on an investigation launched by former House Intelligence Committee Chairman Devin Nunes, R-Calif., was dated Sept. 18, 2020. At the time of the publication of the report, Rep. Adam Schiff, D-Calif., was the chairman of the committee.
The report has never before been released to the public and instead has remained highly classified within the intelligence community.
Fox News Digital obtained the ‘fully-sourced limited-access investigation report that was drafted and stored in a limited-access vault at CIA Headquarters.’ The report includes some redactions.
The committee focused on the creation of the Intelligence Community Assessment of 2017, in which then-CIA Director John Brennan pushed for the inclusion of the now-discredited anti-Trump dossier despite knowing it was based largely on ‘internet rumor,’ as Fox News Digital previously reported.
According to the report, the ICA was a ‘high-profile product ordered by the President, directed by senior IC agency heads, and created by just five CIA analysts, using one principal drafter.’
‘Production of the ICA was subject to unusual directives from the President and senior political appointees, and particularly DCIA,’ the report states. ‘The draft was not properly coordinated within CIA or the IC, ensuring it would be published without significant challenges to its conclusions.’
The committee found that the five CIA analysts and drafter ‘rushed’ the ICA’s production ‘in order to publish two weeks before President-elect Trump was sworn-in.’
‘Hurried coordination and limited access to the draft reduced opportunities for the IC to discover misquoting of sources and other tradecraft concerns,’ the report states.
The report states that Brennan ‘ordered the post-election publication of 15 reports containing previously collected but unpublished intelligence, three of which were substandard — containing information that was unclear, of uncertain origin, potentially biased, or implausible — and those became foundational sources for the ICA judgements that Putin preferred Trump over Clinton.’
‘The ICA misrepresented these reports as reliable, without mentioning their significant underlying flaws,’ the committee found.
‘One scant, unclear, and unverifiable fragment of a sentence from one of the substandard reports constitutes the only classified information cited to suggest Putin ‘aspired’ to help Trump win,’ the report states, adding that the ICA ‘ignored or selectively quoted reliable intelligence reports that challenged — and in some cases undermined — judgments that Putin sought to elect Trump.’
The report also states that the ICA ‘failed to consider plausible alternative explanations of Putin’s intentions indicated by reliable intelligence and observed Russian actions.’
The committee also found that two senior CIA officers warned Brennan that ‘we don’t have direct information that Putin wanted to get Trump elected.’
Despite those warnings, the Obama administration moved to publish the ICA.
The ICA ‘did not cite any report where Putin directly indicated helping Trump win was the objective.’
The ICA, according to the report, excluded ‘significant intelligence’ and ‘ignored or selectively quoted’ reliable intelligence in an effort to push the Russia narrative.
The report also includes intelligence from a longtime Putin confidant who explained to investigators that ‘Putin told him he did not care who won the election,’ and that Putin ‘had often outlined the weaknesses of both major candidates.’
The report also states that the ICA omitted context showing that the claim that Putin preferred Trump was ‘implausible —if not ridiculous.’
The committee also found that the ICA suppressed intelligence that showed that Russia was actually planning for a Hillary Clinton victory because ‘they knew where (she) stood’ and believed Russia ‘could work with her.’
The committee also noted that the ICA ‘did not address why Putin chose not to leak more discrediting material on Clinton, even as polls tightened in the final weeks of the election.’
The committee also found that the ICA suppressed intelligence showing that Putin was ‘not only demonstrating a clear lack of concern for Trump’s election fate,’ but also indicated ‘that he preferred to see Secretary Clinton elected, knowing she would be a more vulnerable President.’
Declassified Hillary Clinton section of House Intelligence Committee Report
One section of the declassified House Intelligence Committee report states that the material in Putin’s possession included Russian intelligence on Democratic National Committee information allegedly showing that senior Democratic leaders found Clinton’s health to be ‘extraordinarily alarming.’
‘As of September 2016, the Russian Foreign Intelligence Service had DNC information that President Obama and Party leaders found the state of Secretary Clinton’s health to be ‘extraordinarily alarming,’ and felt it could have ‘serious negative impact’ on her election prospects,’ the report states. ‘Her health information was being kept in ‘strictest secrecy’ and even close advisors were not being fully informed.’
The Russian Foreign Intelligence Service also allegedly had DNC communications that showed that ‘Clinton was suffering from ‘intensified psycho-emotional problems, including uncontrolled fits of anger, aggression, and cheerfulness.”
‘Clinton was placed on a daily regimen of ‘heavy tranquilizers’ and while afraid of losing, she remained ‘obsessed with a thirst for power,’’ the report states.
The Russians also allegedly had information that Clinton ‘suffered from ‘Type 2 diabetes, Ischemic heart disease, deep vein thrombosis, and chronic obstructive pulmonary disease.’’
The Russians also allegedly possessed a ‘campaign email discussing a plan approved by Secretary Clinton to link Putin and Russian hackers to candidate Trump in order to ‘distract the American public’ from the Clinton email server scandal.’
Gabbard, during the White House press briefing Wednesday, said there were ‘high-level DNC emails that detailed evidence of Hillary’s, quote, psycho-emotional problems, uncontrolled fits of anger, aggression and cheerfulness, and that then-Secretary Clinton was allegedly on a daily regimen of heavy tranquilizers.’
A tranquilizer is a drug used to reduce mental disturbance, such as anxiety and tension. Tranquilizers are typically prescribed to individuals suffering from anxiety, sleep disturbances and related conditions affecting their mental and physical health.
A Clinton aide dismissed the claims as ‘ridiculous.’
Neither Clinton nor Obama responded to Fox News Digital’s requests for comment.
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President Donald Trump’s approach with Russian President Vladimir Putin pivoted drastically this month when, for the first time since returning to the White House, he not only confirmed his support for Ukraine in a NATO arms agreement but issued an ultimatum to the Kremlin chief.
The warning came in a clear message: Enter into a peace deal with Ukraine or face stiff international sanctions on its top commodity, oil sales.
While the move has been championed by some, it has been questioned by others who debate whether it will be enough to deter Putin’s war ambitions in Ukraine. One security expert is arguing the plan will work, but it might take years to be effective.
‘I think it will be effective, and he’s going to stick to that strategy. He’s going to continue to push Putin to return to the bargaining table and negotiate in good faith, not come to the bargaining table, make promises that the Russians don’t plan on keeping,’ Fred Fleitz, who served as a deputy assistant to Trump and chief of staff of the National Security Council during the president’s first term, told Fox News Digital.
‘That’s something Trump’s not going to tolerate,’ Fleitz added. ‘We will see this is just the first six months of the Trump presidency. This may take a couple of years to solve.’
But Trump campaigned on ending the wars in Ukraine and Gaza, which has proven to be more complicated than he suggested from the campaign trail. And not everyone in the Republican Party has backed his approach when it comes to Europe, including a staunch Trump supporter, Rep. Marjorie Taylor Greene.
‘We do not want to give or sell weapons to Ukraine or be involved in any foreign wars or continue the never-ending flow of foreign aid,’ Greene said on X. ‘We want to solve our own problems plaguing our own people.’
Fleitz pointed to Trump’s decision to directly strike Iran and argued it reflected Trump’s ability to be nimble as a leader.
‘He looked at the intelligence and realized it was getting too close, and he decided to adjust his policy, which was first diplomacy,’ Fleitz said.
‘But Trump also specified something very important. He said to his supporters, ‘I came up with a concept of the America-first approach to U.S. national security, and I decide what’s in it,’ Fleitz added. ‘He has ownership of this approach, and he will adjust if necessary.’
Though Trump had made clear from the campaign trail that he wanted to see Europe take a leading role in the war in Ukraine, last week he countered a major talking point from some within his party, including Vice President JD Vance.
Vance has argued against arming Ukraine and said in an op-ed last year, ‘[It] is not just a matter of dollars. Fundamentally, we lack the capacity to manufacture the amount of weapons Ukraine needs us to supply to win the war.’
Trump agreed to sell NATO nations top U.S. arms that will then be supplied to Ukraine.
‘We want to defend our country. But, ultimately, having a strong Europe is a very good thing,’ Trump said, sitting alongside NATO Secretary General Mark Rutte.
Security experts have largely argued that the future of Ukraine’s negotiating ability and, ultimately, the end of the war, will play out on the battlefield.
On Thursday, John Hardie, deputy director of FDD’s Russia Program, told U.S. lawmakers on the Helsinki Commission, also known as the Commission on Security and Cooperation in Europe, in a defense briefing that Ukraine needs to be supplied with long-range strike capabilities that can hit key Russian missile and drone plants.
‘Ukraine shouldn’t be restricted merely to shooting down ‘arrows’,’ Hardie said. ‘An optimal approach will combine both offense and defense. Ukraine needs to be able to hit the ‘archer’ and the factories that make the ‘arrows.’
‘Putin will continue his unprovoked war so long as he believes it’s sustainable and offers a pathway to achieving his goals,’ Hardie argued. ‘By shoring up Ukraine’s defense of its skies and enabling Ukraine to inflict growing costs on Russia’s war machine, as well as pressuring the Russian economy and exhausting Russia’s offensive potential on the ground, we may be able to change that calculus.’
But Fleitz, who serves as vice chair of the America First Policy Institute’s Center for American Security, said he believes this war will only be brought to an end when an armistice agreement is secured.
‘I think there’s probably going to be an armistice where both sides will agree to suspend the fighting,’ Fleitz said. ‘Someday, we will find a line where both nations will agree to stop fighting.’
Ultimately, he believes this will happen by Ukraine agreeing not to join NATO for a certain period of time, though with Moscow’s understanding that Kyiv will be heavily armed by Western allies.
‘I think there’s a way to do this where Russia wouldn’t be concerned about growing Western European influence in Ukraine, and Ukraine would not be worried that Russia will invade once a ceasefire or armistice is declared,’ he added. ‘Maybe this is a pipe dream, but I think that’s the most realistic way to stop the fighting.
‘We know from history conflicts like this take time; peacemaking takes time,’ Fleitz said. ‘I think that over time, Trump is going to have an effect on Putin.’
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