thyssenkrupp stock: Israel government approves investigation into submarine affair

A majority of ministers voted in favor of the proposal on Sunday, a government spokesman confirmed.

Proceedings for the procurement of German submarines and corvettes for the Israeli Navy in the years 2009 to 2016 are to be reviewed. Court proceedings are already underway against several of those involved on suspicion of corruption. The then Prime Minister Benjamin Netanyahu was also questioned, but was not considered a suspect. However, he was accused of having pushed through submarine deals against the will of the military and the Ministry of Defence. In addition, it is now to be examined under what circumstances Israel agreed to the sale of German submarines to Egypt.

Defense Secretary Benny Gantz and Foreign Minister Jair Lapid pushed ahead with the formation of the commission of inquiry. “The submarine affair is the most serious case of defense corruption in Israeli history and we must turn every stone in our search for the truth,” Lapid said just over a week ago.

On Thursday, Israel and Germany finally agreed on a deal worth billions to buy three submarines of the new “Dakar” class. The first of the boats being developed in the Kiel shipyard thyssenkrupp Marine Systems (TKMS) is to be delivered within nine years.

Prime Minister Naftali Bennett stressed that the new deal was agreed in a clean manner. “Our only compass is Israel’s security,” said Bennett, who abstained from voting.

The plans had been on hold for years because of allegations of corruption. According to the Israeli Ministry of Defense, the cost of the deal is around three billion euros, part of which is borne by the German government.

Israel already has six submarines from Kiel. The three new submarines will gradually replace older models. Deliveries to Israel are controversial because, according to experts, they can theoretically be equipped with nuclear weapons.

/le/DP/edh

JERUSALEM (dpa-AFX)

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