Germany signs deal on 3 new submarines for Israel

Markets Associated Press

Israeli says it has signed an agreement with the German government to receive three new submarines that would go into service from 2027.

Continue Reading Below

Prime Minister Benjamin Netanyahu said Monday that his government signed a memorandum of understanding with the German government earlier in the day.

Israel already ordered six submarines from Germany over the past two decades. Chancellor Angela Merkel's spokesman, Steffen Seibert, said the German government would participate in the financing of three new vessels, as in previous deals.

Seibert, who noted "our historical responsibility toward the state of Israel," said the two sides agreed not to disclose details.

The signing comes amid an Israeli investigation of a possible conflict of interest involving purchases of German submarines. Netanyahu's personal attorney represented the German firm involved and is suspected of trading his influence over the premier for a hefty cut of a deal.

Speaking at the opening of parliament's winter session Monday, Netanyahu dismissed the allegations of corruption.