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Andy Schectman, president of Miles Franklin, breaks down recent silver market dynamics, including the massive rise in entities standing for delivery of physical metal, increased CME Group (NASDAQ:CME) margin requirements and China’s silver export controls.

‘We’re beginning to see at the highest level a change of mentality, a change of perception of what these metals truly are,’ he said in the interview.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) the Company and its auditor continue to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until January 31, 2026. Sankamap confirms that it has received the crucial confirmations from the Solomon Islands government, and that the majority of the audit work has now been completed, with only a limited number of minor confirmations and outstanding items remaining. The Company is actively working to provide the remaining items and is contacting any parties from whom confirmations are still outstanding. Subject to the completion of these remaining items, the audit file is expected to enter the final stages of review and be nearing completion.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a MCTO under NP 12-203 to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

For further information with respect to the MCTO, please refer to the Company’s news releases dated October 21, 2025, November 4, 2025, November 18, 2025, December 3, 2025, December 17, 2025 and December 30, 2025, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca .

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280320

News Provided by Newsfile via QuoteMedia

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The cobalt market entered 2025 under pressure from a prolonged supply glut, but the balance shifted sharply as the year unfolded, due almost entirely to intervention from the Democratic Republic of Congo (DRC).

After starting the year near nine year lows of US$24,343.40 per metric ton, cobalt metal prices had risen to US$53,005 by the end of December, pushed upward by supply concerns stemming from export limits in the DRC.

“The cobalt market in 2025 was characterised by a significant price recovery following the DRC banning the export of all cobalt from its borders in February,” said Aubry. “By the end of 2025, sulphate prices increased 266 percent, hydroxide increased by 328 percent and metal prices by 130 percent year-to-date.”

Q1: Cobalt moves from glut to supply shock

As mentioned, cobalt metal prices hit their weakest level since 2016 in January. Global mine output had more than doubled over five years, far outpacing demand growth from electric vehicles and other end uses.

That dynamic changed abruptly in late February, when the DRC — which supplies roughly three-quarters of the world’s cobalt — imposed a four month suspension on cobalt hydroxide exports.

The news lifted cobalt from US$24,495 at the start of the year to above US$34,000 by the end of March, with intra-month highs nearing US$36,300. The move marked the sector’s first meaningful rebound in nearly two years.

As the DRC exhibited control over cobalt supply, the market began to look to the world’s second largest cobalt-producing nation: Indonesia. Indonesia’s cobalt output is largely a by-product of its laterite nickel industry, produced through high-pressure acid leaching (HPAL) plants that process nickel-rich ores.

These facilities generate mixed hydroxide precipitate (MHP), an intermediate containing both nickel and cobalt that can be further refined into battery-grade materials. The model has enabled Indonesia to rapidly scale its cobalt supply, leveraging its dominant nickel position and integrated processing infrastructure.

Indonesia produced about 31,000 metric tons of cobalt in 2024 — roughly 10 percent of global supply — cementing its position as the world’s second largest producer behind the DRC.

Output growth is being driven by HPAL projects targeting up to 500,000 tons per annum (tpa) of mixed hydroxide precipitate, potentially yielding 50,000 tpa of cobalt, though scaling up may prove challenging.

Indonesian MHP, a lower-cost intermediate that is rich in nickel and cobalt, is increasingly viewed by Chinese refiners as a substitute for DRC-sourced cobalt hydroxide.

Q2 and Q3: A fragile equilibrium forms

The DRC’s export ban continued to underpin prices through the second quarter.

Standard-grade cobalt metal was trading near US$15 to US$16 per pound at the time, while cobalt sulfate posted even sharper gains. Despite the rally, sentiment remained cautious. Chinese refiners drew on existing inventories, and trade data showed cobalt units still flowing into China, particularly from Indonesia.

By June, prices had begun to ease as uncertainty mounted over how long the DRC would maintain controls.

Although China imported significant volumes earlier in the year, analysts warned Indonesian supply would be insufficient to fully offset reduced DRC cobalt shipments. Later that month, the DRC extended its export restrictions through September, reinforcing expectations that the market would move toward balance.

By mid-year, Chinese import data confirmed the impact — cobalt hydroxide inflows had fallen sharply, with analysts projecting constrained refinery feed into late 2025 or early 2026.

Prices stabilized in a broad US$33,000 to US$37,000 range through Q3, supported by tightening supply and diminishing inventories. Market participants increasingly viewed the DRC’s actions as a structural shift rather than a temporary correction, signaling the end of the cobalt surplus that had defined the previous two years.

By late 2025, the cobalt market had transformed from one of chronic oversupply to one approaching equilibrium — a reset driven not by demand growth, but by decisive supply-side intervention.

Q4: Cobalt quotas replace DRC ban, prices climb

After months of supply disruption, the DRC lifted its full cobalt export ban in mid-October, replacing it with a rigid quota system that will shape the market through 2026.

Under the new framework, annual DRC exports are capped at about 96,600 metric tons, roughly half of 2024 levels, with just 18,125 metric tons scheduled for shipment in Q4 2025.

This structural tightening helped sustain elevated prices that surged above US$47,000 by late October, levels not seen since early 2023, amid persistent feedstock shortages and constrained exports.

DRC quotas have provided a degree of market clarity, with major producers like CMOC Group (OTCPL:CMCLF) receiving significant allocations that underpin production plans. Despite robust output guidance, inventories outside the DRC remain tight, and market participants see continued upward price pressure as the quota system curtails supply.

“The DRC’s quota system is set to squeeze supply in the next two years — unless the country revises quotas higher,” wrote Fastmarkets’ Oliver Masson in a December market update.

“Prices are already considerably higher than they were at the beginning of the year, and they are likely to remain elevated for as long as current quota levels remain in force,’ he said. ‘Cobalt is mostly used in batteries, and the longer prices remain elevated, the more likely it is that EV manufacturers will seek to move to low-cobalt or cobalt-free chemistries where feasible. This could slow demand in the medium term.”

Cobalt price forecast for 2026

Looking ahead to 2026, analysts see the cobalt market shifting into a deficit as export caps bite and global feedstock availability shrinks. Fastmarkets projects a structural shortfall of about 10,700 metric tons against demand near 292,300 metric tons, driven by DRC quota limits and ongoing drawdowns of stocks.

Industry forecasters also anticipate that reduced shipments, combined with a stubbornly tight pipeline, will support stronger average prices next year. Some forecasts suggest cobalt could average near US$55,000 in 2026 as export quotas supplant the 2025 ban. Indonesian supply is emerging as a secondary source, with production climbing, but most analysts agree it will be insufficient to offset DRC constraints in the near term.

After a year of dramatic swings driven by supply policy in the DRC, 2026 is shaping up as the first sustained deficit environment in the cobalt market, with prices expected to remain elevated amid structural tightening.

“Prices have substantially recovered over 2025 and are expected to remain elevated in 2026 as the DRC limits exports,” said Aubry. “There is a significant potential upside risk as dwindling ex-DRC stocks present the risk of demand destruction towards the end of the year.”

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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Iron ore prices have strengthened since bottoming out in September 2024, but the base metal faced headwinds in 2025 as tariff threats and investor uncertainty weighed on the market.

Usage in steel makes iron ore one of the most widely used and essential materials in the world, and as a result its fortune is highly dependent on the strength of the construction and manufacturing sectors.

Iron ore has also seen increased demand from electric vehicle (EV) batteries over the last several years.

Among all countries, China leads the world in steel production, but lacks domestic supply to meet demand; it is also the world’s largest importer of base metals. As one of the biggest manufacturing bases and a significant source of demand for construction and EV production, China exerts considerable influence on iron ore prices.

Additionally, as 2026 begins, the definitive period for the EU’s Carbon Border Adjustment Mechanism (CBAM) is starting — it will apply levies to high-carbon imports such as steel.

How did iron ore prices perform in 2025?

Iron ore started 2025 at US$99.44 per metric ton (MT) on January 6, then hit US$107.26 on February 12.

The start of March saw a steep decline for prices as they retreated toward the US$100 mark, then climbed back to US$104.25 on April 2; a rout in the base metals market saw prices fall to US$99.05 on April 9.

While other metals recovered, iron ore continued to track lower, reaching US$97.41 on May 5 and ultimately sinking to a yearly low of US$93.41 on July 1. During the third quarter, iron ore prices gained momentum, rising above the US$100 mark in August and reaching a quarterly high of US$106.08 on September 8.

Prices were largely rangebound in Q4, dropping below US$104 only once on November 7, then recovering to post a yearly high of US$107.88 on December 4. Prices had retreated to US$106.13 by December 5.

Key iron ore price drivers in 2025

All in all, prices for iron ore didn’t fare too badly in 2025.

The biggest factor affecting growth was a significant fall-off during the first half of the year as pressures mounted from a continuing slump in the Chinese property sector and the threat of US tariffs.

The Chinese real estate sector has been in steep decline since 2021, when two of the nation’s top developers — Country Garden and Evergrande — declared bankruptcy after incurring hundreds of billions of dollars in debt. Since then, the government has introduced various stimulus measures, but has failed to turn the sector around.

As mentioned, because of the sheer size of the property market in China, it is a significant demand driver for steel products and has an outsized influence on the global iron ore market.

Another noteworthy headwind for iron ore price levels this past year was the threat of US tariffs. In early April, US President Donald Trump announced his “Liberation Day” tariffs, which applied a 10 percent levy across the board, and threatened retaliatory tariffs to close trade deficits with most countries.

The move sparked fears of a global recession and triggered a rout in equities and commodities markets, sending prices plunging. However, most markets rebounded quickly as plans were dialed back after a squeeze in the bond market that sent 10 year treasury yields up by more than half a percentage point.

Further iron ore price pressures came later in the year, when the massive Simandou mine in Guinea shipped its first iron ore, destined for smelters in China, on December 2.

Two consortia of companies own the mine. Blocks three and four have a 45/40/15 ownership split between Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), Chinalco and the Guinea government, and blocks one and two have a 45/35/20 split between Winning International, China Hongquiao Group (HKEX:1378,OTCPL:CHHQF) and United Mining Supply.

The mine will ramp up production over the next 30 months, and is expected to produce 15 million to 20 million MT in 2026 and 40 million to 50 million MT in 2027.

What trends will move the iron ore market in 2026?

“Construction accounts for about 50 percent of steel consumption in terms of end users. The weakness of the property market has, of course, weighed on steel demand and therefore pig iron production. However, the driver for China’s steel production has been industrialisation and urbanisation during the past two decades,” he said.

Sardain went on to state that despite a shift in focus from fixed assets to manufacturing, services and technology, overall steel demand is set to move lower. Although the decline won’t last forever and the property market will stabilize, the effect of even a mild rebound on steel production will be limited:

“However, steel production and iron ore demand have been supported by strong exports in markets such as Southeast Asia, East Asia, the Middle East, Latin America and Africa, mitigating the impact of a lower domestic steel demand. Whether steel exports can increase from their current level is debatable, and we forecast a lower steel production in China over time.’

On the tariff front, US levies aren’t likely to have much impact. Sardain pointed out that while US steel demand exceeds its production capacity, Chinese imports remain a minimal factor.

Meanwhile, the US is primarily producing steel in lower-carbon electric arc furnaces from ferrous scrap.

Although steel tariffs from Canada and Brazil are set at 25 and 50 percent, respectively, both countries have exemptions for iron ore pellets, and Canadian ferrous scrap is covered under CUSMA provisions.

But with the trade pact set to be renegotiated in 2026, it’s uncertain what it means for steel and, by extension, iron products, in the midterm. The best-case scenario is that Canadian steel will receive an exemption.

Still, the risk remains that current CUSMA blanket exemptions will be removed, allowing the US to apply additional tariffs on Canadian goods crossing the border. Likewise, in Europe, the CBAM came into effect on January 1, 2026.

While the impact may take some time to work through the market, it will still have downstream effects for producers that want to avoid tariffs on imported products. This may be one reason Chinese steel producers are switching from higher-carbon blast furnaces to electric arc furnaces in the smelting process.

“Currently, electric arc furnaces account for about 12 percent of China’s steel production, set to increase to 18 percent by the first part of the next decade,” Sardain said, noting that China is looking to cap its emissions by 2030.

The main challenge for iron ore is waning demand, as the primary input for electric arc furnaces is scrap steel, not raw iron. “Countries which will see their steel production increasing (primarily India, but to some extent Russia, Brazil or Iran) are not iron ore importers because they are self-sufficient. Steel production in the EU is flat to lower with more production coming from electric arc furnaces as part of the decarbonisation process,” Sardain said.

Soft demand growth, however, is expected to meet increasing mine supply, further dragging on prices in 2026.

Sardain suggested that all major iron ore miners will increase their production in 2026, with the largest boost coming from Guinea’s Simandou, which could shake up supply chains.

“The blocks one and two are owned by a Chinese-Singaporean consortium. It will provide China with the opportunity to diversify its supply from the major Australian producers (something that the country tried to do for the past 15 years unsuccessfully) and it will shift the supply-demand momentum in favour of China,” he said.

Additionally, the mine is important because of its 65 percent iron content.

Iron ore price forecast for 2026

Sardain expects iron ore prices to remain muted in 2026.

“We believe that price should drop below the US$100 per MT mark, although it could stay above this level in H1 due to seasonality … so, overall, prices staying between US$100 to US$105 per MT in H1, then declining below US$100 per MT in H2, with the ramp-up of the Simandou mine being a determining factor,” he said.

This is largely in line with estimates from other firms. BMI is predicting a 2026 price of US$95, while RBC Capital Markets sees iron ore averaging US$98; the overall consensus stands at US$94.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 14, 2026 / CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to announce that the Company’s CEO, Julian Treger, will host an investor update on Friday, January 16, 2026, at 8:00 a.m. PST / 11:00 a.m. EST.

The update will highlight recent platform and strategic developments across the CoTec portfolio. Management will provide a high-level update on progress at MagIron, a CoTec investment advancing a U.S.-based iron ore and metallics strategy, as well as HyProMag USA, and discuss other key initiatives currently being advanced by the Company. The presentation will also include management’s outlook for 2026, outlining priorities, upcoming milestones, and areas of focus for the year ahead. A Q&A session will follow the presentation.

Investors who wish to attend the presentation may do so by clicking here to register.

Should the above link not work, please copy and paste the following link to your web browser: https://us06web.zoom.us/webinar/register/WN_0NBXb4IIRXOVP0d2l7j5Vg#/registration

About CoTec

CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:
Eugene Hercun, VP Finance, +1 604 537 2413

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company, please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca

Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: CoTec Holdings Corp.

View the original press release on ACCESS Newswire

News Provided by ACCESS Newswire via QuoteMedia

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The interim government in Venezuela has released at least four U.S. citizens who were imprisoned under President Nicolás Maduro’s regime, Fox News confirmed.

The release marks the first known release of Americans in the South American country since the U.S. military completed an operation to capture authoritarian Venezuelan President Nicolás Maduro, who is now facing federal drug trafficking charges in New York.

‘We welcome the release of detained Americans in Venezuela,’ a State Department official said Tuesday. ‘This is an important step in the right direction by the interim authorities.’

The release of American citizens was first reported by Bloomberg.

President Donald Trump said Saturday that Venezuela had begun releasing political prisoners.

‘Venezuela has started the process, in a BIG WAY, of releasing their political prisoners,’ Trump wrote on Truth Social. ‘Thank you! I hope those prisoners will remember how lucky they got that the USA came along and did what had to be done.’

Venezuela’s interim government has reported that 116 prisoners have been released, although only about 70 have been verified by the non-governmental organization Justicia, Encuentro y Perdón, according to Bloomberg.

National Assembly President Jorge Rodríguez said prisoner releases would continue, according to the outlet.

The U.S. government issued a new security alert Saturday urging Americans in Venezuela to leave the country immediately, citing security concerns and limited ability to provide emergency assistance, the U.S. Embassy in Caracas said.

‘U.S. citizens in Venezuela should leave the country immediately,’ the embassy said in the alert.

The warning pointed to reports of armed groups operating on Venezuelan roads.

Following the military operation, Trump suggested that the U.S. would ‘run’ Venezuela for an extended period.

‘We’re going to run the country until such time as we can do a safe, proper and judicious transition,’ he said.

This post appeared first on FOX NEWS

A South Korean court heard arguments Tuesday seeking the death penalty for former President Yoon Suk Yeol, as prosecutors accused the ousted leader of orchestrating a rebellion through his controversial martial law declaration in December 2024.

Independent counsel Cho Eun-suk asked the Seoul Central District Court to impose the sentence, arguing that Yoon’s actions amounted to ‘anti-state activities’ and describing the decree as a ‘self-coup.’

Yoon, a conservative who was removed from office last spring, remains in custody while facing multiple criminal proceedings tied to the martial law episode and other controversies from his presidency. Prosecutors say the rebellion charge carries the most severe potential punishment.

Cho’s team argued in court that Yoon sought to prolong his hold on power by undermining South Korea’s constitutional system of governance.

Yoon has rejected the accusations, telling the court that the investigations into his conduct have been ‘frenzied’ and marked by ‘manipulation’ and ‘distortion.’

He has maintained that the declaration of martial law was intended to alert the public to what he viewed as the growing threat posed by the opposition Democratic Party, which used its legislative majority to block his political agenda. 

Yoon argued that the exercise of presidential emergency powers cannot be treated as rebellion under the law.

The court is expected to deliver a verdict next month. Legal experts have said a life sentence is more likely than execution, noting that South Korea has not carried out a death penalty since 1997.

Yoon is the first South Korean president who has faced a potential death penalty after leaving office since Chun Doo-hwan was sentenced to death in 1996 for various crimes. Chun’s death sentence was later commuted to life in prison, and he was subsequently pardoned and freed.

The Associated Press contributed to this report.

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President Donald Trump is setting the stage for the U.S. to be involved in overseeing Venezuela for a significant period of time, after conducting strikes and capturing dictator Nicolás Maduro and labeling himself ‘acting’ president of Venezuela. 

The move marks his boldest interventionist move yet — a foreign policy approach by which one country intervenes in another state’s affairs — and follows other major military operations from the Trump administration, including strikes in Syria in December 2025 against Islamic State operatives after an ambush against U.S. troops there, and strikes in June 2025 against the Iranian nuclear sites of Fordow, Natanz and Isfahan.

Trump told The New York Times in an interview that was published Wednesday that ‘only time will tell’ how long the U.S. will be running Venezuela, but said it would be ‘much longer’ than a year. 

Additionally, Trump announced recently that Venezuela’s interim government would hand over up to 50 million barrels of oil to the U.S. and that the oil would be sold ‘immediately.’

‘We will rebuild it in a very profitable way,’ Trump told the Times. ‘We’re going to be using oil, and we’re going to be taking oil. We’re getting oil prices down, and we’re going to be giving money to Venezuela, which they desperately need.’

Likewise, Trump shared a doctored image that looked like a Wikipedia page that identified him as ‘Acting President of Venezuela’ since January 2026. 

Previous interventionist actions the U.S. has taken include launching an invasion of Afghanistan in response to the 9/11 attacks Afghanistan-based al-Qaeda conducted against the U.S., and an invasion of Iraq in 2003 that led to the toppling of Iraqi dictator Saddam Hussein’s regime. In both cases, the U.S. remained in prolonged occupations there. 

The language the Trump administration is using now focusing on illegal migration is different than what was used during the Afghanistan and Iraq conflicts, which focused on democracy-building and promoting freedom, Katherine Thompson, a senior fellow in defense and foreign policy studies at the libertarian think tank the Cato Institute, told Fox News Digital. 

‘But the pathway to achieve those things, I don’t see, like, a broad differentiation from the things that we did before,’ Thompson told Fox News Digital. 

Thompson said that she doesn’t see how the Trump administration’s goals could be completed without small rotational deployments from U.S. forces to provide security, particularly in the event that the U.S. reopens its Embassy in Caracas, Venezuela. 

‘I don’t see how we’re going to have a team there without at least some small deployment of rotational forces to achieve security of our own personnel,’ Thompson said.

So far, no U.S. troops are on the ground in Venezuela, and the Senate advanced a War Powers resolution Thursday that, if passed, would bar using U.S. forces within or against Venezuela without Congress’ approval. 

When asked by Fox News Digital about whether Trump’s ‘Acting President of Venezuela’ post was shared jokingly and what it indicates about how long the U.S. will be involved in running Venezuela, White House spokeswoman Anna Kelly told Fox News Digital: ‘President Trump will be the greatest President for the American and Venezuelan people in history. Congratulations, world!’

Although Trump has blasted previous administrations for actions in the Middle East and vowed he would bring an end to ‘endless wars’ while ushering in an ‘America First’ agenda prioritizing U.S. interests, Democrats warned that the U.S. may be involving itself in another complicated conflict. 

Senate Minority Leader Chuck Schumer, D-N.Y., claimed that the U.S. is on the path to another ‘endless war.’

‘The very thing that Donald Trump campaigned against over and over and over again was no more endless wars,’ Schumer said in an interview with ABC News Jan. 4. ‘And, right now, we’re headed right into one with no barriers, with no discussion.’ 

Trump announced on Jan. 3 that U.S. special forces conducted a ‘large-scale strike’ against Caracas, and seized Maduro and his wife, Cilia Flores. Both were taken to New York and appeared in a Manhattan federal court Jan. 5 on drug charges, where they each pleaded not guilty.

The raid came after months of pressure on Venezuela and more than two dozen strikes in Latin American waters against alleged drug traffickers as part of Trump’s effort to crack down on the influx of drugs into the U.S.

The Trump administration routinely stated that it did not recognize Maduro as a legitimate head of state and said he was the leader of a drug cartel. Likewise, Trump said in December 2025 he believed it would be ‘smart’ for Maduro to step down. 

The Trump administration has justified seizing Maduro as a ‘law enforcement’ operation, and Secretary of State Marco Rubio said congressional approval wasn’t necessary since the operation didn’t amount to an ‘invasion.’

However, lawmakers primarily on the left have questioned the legality of the operation in Venezuela, which was conducted without Congress’ approval.

‘This has been a profound constitutional failure,’ the top Democrat on the Senate Armed Services Committee, Sen. Jack Reed, D-R.I., said in a statement Jan. 3. ‘Congress — not the President — has the sole power to authorize war. Pursuing regime change without the consent of the American people is a reckless overreach and an abuse of power.’

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Former Secretary of State Hillary Clinton was subpoenaed to appear before the House Oversight Committee on Wednesday, but she’s expected to ignore the order, potentially risking criminal charges.

Hillary Clinton is scheduled to be deposed behind closed doors at 10 a.m. on Wednesday, and it appears the GOP-led committee will move forward with holding the interview in some form regardless of whether she attends.

Hillary and Bill Clinton’s lawyers sent a letter to House Oversight Committee Chairman James Comer, R-Ky., earlier this week, calling their subpoenas ‘invalid and legally unenforceable.’

But Comer previously threatened to initiate contempt of Congress proceedings against both Clintons if they skipped their January deposition dates, which were rescheduled twice prior, amid conversations with their attorneys.

Bill Clinton defied his own subpoena on Tuesday, failing to appear for a 10 a.m. closed-door deposition. 

Comer told reporters afterward that the House Oversight Committee would meet next week to advance a contempt resolution against the former president in response.

When Fox News Digital asked if the same would happen to Hillary Clinton if she failed to appear the next day, Comer said, ‘We’ll see. We’ll talk about it.’

The former first couple were two of 10 people subpoenaed by Comer as part of the panel’s investigation into Jeffrey Epstein. The subpoenas were issued following a bipartisan vote by an Oversight subcommittee panel during an unrelated hearing on illegal immigration.

Despite that, however, no Democrats appeared for Bill Clinton’s expected grilling.

‘Not a single Democrat showed up today, not a single Democrat,’ Comer told reporters. ‘It just seems like they only care about pushing Republicans. And we’ve had a former Trump Cabinet secretary, Alex Acosta, in for a grilling. We had Bill Barr, former attorney general, in for a grilling. But for whatever reason, President Clinton didn’t show up. And the Democrats on the committee don’t seem to have a problem.’

The Clintons’ attorneys criticized Comer’s leadership of the investigation in their letter, discounting the subpoenas.

‘President and Secretary Clinton have already provided the limited information they possess about Jeffrey Epstein and Ghislaine Maxwell to the Committee,’ the lawyers said.

‘Your continued insistence that the former President and Secretary of State can be compelled to appear before the Committee under these circumstances, however, brings us toward a protracted and unnecessary legal confrontation that distracts from the principal work of the Congress with respect to this matter, which, if conducted sincerely, could help ensure the victims of Mr. Epstein and Ms. Maxwell are afforded some measure of justice for the crimes perpetrated against them, however late. But perhaps distraction is the point.’

Comer said after Bill Clinton skipped his deposition, ‘No one’s accusing Bill Clinton of any wrongdoing. We just have questions. And that’s why the Democrats voted, along with Republicans, to subpoena Bill Clinton.’

The House Oversight Committee would need to advance a contempt resolution before it’s considered by the entire chamber. If a simple majority votes to hold someone in contempt of Congress, a criminal referral is then traditionally made to the Department of Justice.

A criminal contempt of Congress charge is a misdemeanor that carries a punishment of up to one year in jail and a maximum $100,000 fine, if convicted.

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Sen. Rand Paul, R-Ky., accused his ‘pro-life’ Republican colleagues of not caring about the people killed in boat strikes near Venezuela who the Trump administration, without providing evidence, claims were trafficking fentanyl.

During an appearance on ‘The Joe Rogan Experience’ released on Tuesday, Paul said GOP lawmakers ‘don’t give a s‑‑-‘ about the people who died on the vessels, blasting his colleagues for not granting the presumption of innocence.

‘I look at my colleagues who say they’re pro-life, and they value God’s inspiration in life, but they don’t give a s‑‑- about these people in the boats,’ Paul said. ‘Are they terrible people in the boats? I don’t know. They’re probably poor people in Venezuela and Colombia.’

‘I guess what I don’t feel connected to my Republican colleagues is that those lives don’t matter at all, and we just blow them up. And against all justice, and against all laws of war, all laws of just war, we have never blown up people who were shipwrecked,’ he added, referring to the administration’s reported targeting and killing of survivors of initial strikes who were clinging to wreckage.

The liberty-minded Republican said it is ‘against the military code of justice to do that.’

‘We’re doing it and everybody just says, ‘Oh, well, they’re drug dealers,” he said.

Paul criticized his fellow GOP lawmakers who have repeated the administration’s claims about the boats carrying fentanyl. He also took issue with colleagues who hold the position of, ‘Well, we’re at war with them. They’re committing war by bringing drugs into America.’

‘They’re not even coming here,’ Paul explained. ‘They’re going to these islands in the south part of the Caribbean. The cocaine — and it’s not fentanyl at all — the cocaine’s going to Europe.’

He emphasized that ‘those little boats can’t get here.’

‘No one’s even asked this common question: Those boats have these four engines on them. They’re outboard boats. You can probably go about 100 miles before you have to refuel. Two thousand miles from us, they’d have to refuel 20 times to get here,’ Paul said.

The senator accused the administration of conducting the boat strikes to create ‘a pretense and a false argument’ ahead of the operation to attack Venezuela and arrest its president, Nicolás Maduro.

‘It’s all been a pretense for arresting Maduro,’ he said. ‘So, we have to set up the predicate. We got to show you we care about drugs.’

Paul helped the Senate advance a resolution last week that would limit Trump’s ability to conduct further attacks against Venezuela after the U.S. military’s recent move to strike the country and capture Maduro, which the Kentucky Republican said amounts to war. The Upper Chamber could pass the measure later this week, although it faces an uphill battle in the House despite some support from Republicans.

‘I think bombing a capital and removing the head of state is, by all definitions, war,’ Paul told reporters before the procedural vote last week. ‘Does this mean we have carte blanche that the president can make the decision any time, anywhere, to invade a foreign country and remove people that we’ve accused of a crime?’

The lawmaker has repeatedly criticized the administration’s boat strikes on alleged narco-terrorists in recent months, often raising concerns about killing people without due process and the possibility of killing innocent people. The senator previously cited Coast Guard statistics that show a significant percentage of boats boarded on suspicion of drug trafficking are innocent.

Paul said on ‘The Joe Rogan Experience’ that he believes the administration might attack Mexico next, which Trump has signaled could be a future target.

‘They want to do that next. They want to bomb Mexico,’ Paul said.

Trump has said cartels are ‘running Mexico’ and that ‘something’s going to have to be done’ because Mexican President Claudia Sheinbaum is ‘very frightened’ of the cartels.

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