Israel has requested the West German Government to make reparations payments beginning April 1, 1954 at the maximum rate provided in the Luxembourg agreements of 310,000,000 marks per year, Dr. F. Shinnar, head of the Israel purchasing mission in Germany, disclosed here today.
While the agreements call for nine annual payments of 310,000,000 marks and a final payment of 250,000,000 marks, Germany has the right to request reduction of the payment rate to 250,000,000 marks a year. Up until March, 31 1954, Germany will have paid 400,000,000 marks in reparations in a period exceeding a year.
Israel is also negotiating with Germany on the question of assignment by Germany of foreign exchange balances in a third country to cover Israeli oil requirements. Dr. Shinnar reported. The Germans assigned the sterling equivalent of 150,000,000 marks to Israel to cover Israel oil purchases in Britain during the 18 months ending next March 31, but this arrangement was not a permanent one and has to be renegotiated.
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