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Friday, May 16, 2014

Germany nixes gunboat subsidy to Israel, citing breakdown of peace talks

Angela Merkel & Benjamin NetanyahuThe German government has decided not to give Israel a massive subsidy for the purchase of German missile boats, due to the breakdown in Israeli-Palestinian peace talks, both Israeli and German officials said on Thursday.

For months now, Israel and Germany have been negotiating a deal under which Israel would purchase three or four German gunboats to protect its offshore gas fields in the Mediterranean Sea.

The deal, first reported by Haaretz, was valued at about $1 billion before any discounts.

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