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Australia pays huge fine for falling into submarine business

Australia pays huge fine for falling into submarine business

The long-running dispute between Australia and France over the purchase of a submarine appears to be coming to an end. As is known, the Canberra government withdrew from the agreement in a very embarrassing way, according to which France was to sell 8 nuclear-powered submarines to Australia. The deal was worth nearly $90 billion, and Australia changed its mind because the United States and Britain, at the same time, signaled their willingness to arm the continent as well.

Photo: Agence France-Presse

Australian Prime Minister Anthony Albanese Saturday Announcement to me They managed to come to an agreement with the French company: they will pay 550 million euros in compensation for backsliding.

According to the Prime Minister, this is a fair and acceptable result, given the size of the original amount. Albanese also thanked French President Emmanuel Macron for his assistance in settling the matter and restoring contact between the two countries.

French Defense Minister Sebastien Licornu said this would open a new and clear page in the joint history of Australia and France and focus on the future.

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