Last Update 19:38
Wednesday, 24 April 2019

Rheinmetall plans to sue Germany over Saudi arms embargo: Spiegel

Reuters , Sunday 20 Jan 2019
Rheinmetall
File Photo: The logo of German defence and automotive group Rheinmetall AG is pictured at the company's headquarters in Duesseldorf, Germany March 15, 2018. (Photo: Reuters)
Share/Bookmark
Views: 1514
Share/Bookmark
Views: 1514

German weapons maker Rheinmetall plans to sue the government over its decision to stop all arms exports to Saudi Arabia after the killing of journalist Jamal Khashoggi, Spiegel Online reported on Sunday.

Citing a letter to the Economy Ministry, Spiegel said Rheinmetall intends to sue the German government for loss of revenue if the export suspension continues.

Berlin suspended approval of future export licenses to Saudi Arabia in October and in November said it had worked with industry to halt shipments of arms sales that were already approved.

No specific timetable was given at the time, but industry sources told Reuters an agreement had been struck to revisit the matter by mid-January.

Last week the economy ministry said the government still had no intention of approving arms exports to Saudi Arabia.

Without citing sources, Spiegel said Rheinmetall believes it can claim for compensation because the government’s decision affected exports that had already been approved.

The company’s management fears shareholders could sue Rheinmetall if the company does not demand compensation for the losses, Spiegel added.

“We cannot comment on individual decisions, possible revocations or individual measures,” the Economy Ministry said in an emailed statement.

A spokesman for Rheinmetall declined to comment on the report.

Spiegel said goods worth up to 2 billion euros ($2.3 billion) are affected by the export suspension, including four Cobra radar systems built by a consortium that includes France’s Thales, Airbus and Lockheed Martin of the United States.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.