German government approves export of patrol boats to Egypt

The German government has granted the delivery of nine patrol boats and a coast guard defence vessel from a shipyard in the north of the country to Egypt, according to a letter written by Economy Minister Peter Altmaier.The order is valued at around 130 million euros (151 million dollars) in the document, which was seen by dpa on Monday.The sale of the vessels from the Luerssen shipyard was approved by the government’s security council, which includes Chancellor Angela Merkel and several of her Cabinet ministers.It is thought that the boats were originally destined for Saudi Arabia, until a de…

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HEDGE accordingly