Arrangements have been completed for West Germany to place at the disposal of Israel a sum equivalent to nearly $18,000,000 in blocked sterling accounts for the purchase of oil by Israel, the press reported here today.
This is the second such allocation of German funds in Britain to be used for Israeli oil purchases from British Commonwealth nations; the first allocation, for twice the present one, will expire in March of this year. The funds thus advanced are charged against reparations payments due Israel from Bonn.
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