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October 24, 2017 1:16 pm

Israel and Germany Sign Agreement Finalizing $1.5 Billion Submarine Deal

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An Israeli submarine. Photo: Wikimedia Commons. – Israeli Prime Minister Benjamin Netanyahu welcomed on Monday the signing of a memorandum of understanding (MOU) between Germany and Israel on the Jewish state’s acquisition of three new German-made submarines.

The signing of the MOU comes after the German government temporarily suspended the deal, valued at some $1.5 billion, amid ongoing criminal investigations.

“The MOU is strategically important to the security of Israel,” the Israeli Prime Minister’s Office stated. “Its signing reflects the commitment of Germany and Chancellor Angela Merkel to the security of Israel and the deep cooperation between the two countries.”

The sale of three submarines to Israel, from the German manufacturer ThyssenKrupp Marine Systems (TKMS), was originally scheduled to be finalized in July. But Germany postponed the deal due to the launch of the Israel Police’s corruption probe into the sale. The investigation is known as “Case 3000.”

The fact that Netanyahu’s personal attorney, David Shomron, represents TKMS in Israel sparked the investigation, which saw a former IDF general detained for questioning with several other suspects amid allegations of bribery and money laundering.

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