Dr. F. Shinnar, member of the Israeli delegation at The Hague reparations negotiations, today handed to the management of the Shell Oil Company of Britain authorization from the West German Finance Ministry to use German sterling credits for the purchase of oil from the company.
This is the first payment under the German-Israel reparations agreement signed last week and the German payment precedes formal ratification of the treaty under which Germany undertook to purchase oil stocks abroad for shipment as reparation to Israel. While the pact provided for a firm undertaking to ship oil for only one year, it specified that Germany would continue such purchases for Israel’s use if foreign currency were available in the future. The first year’s shipments will amount to about as much oil as Israel normally purchases from Britain, approximately two-thirds of her annual needs.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
