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Sunday, October 19, 2014

Missile boat crisis ends as Germany gives Israel $382 million discount

Saar 5 class corvetteA crisis between Israel and Germany over missile boats required to protect Israel's offshore gas fields has ended after Berlin agreed to slash €300 million (about $382 million) off the cost, officials on both sides said.

They are expected to initial an agreement for the boats within weeks.

The talks between Israel and Germany to purchase three fast missile boats to protect the gas rigs off Israel’s shore began a year ago. Haaretz reported that the deal was worth about €900 million.

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