The largest single allocation out of the first German reparations payments to the State of Israel will be for the provision of oil to Israel from British sources, to be paid for with German credits in London, it was disclosed here today.
Of the equivalent of 200 million deutschemarks which Germany is to pay the State of Israel prior to March 31, 1953, under the Israel-German reparations agreement, 75,000,000 marks have been allocated to these oil purchases. This will provide about two-thirds of Israel’s estimated annual oil requirements.
(In Tel Aviv, Dr. Jacob Robinson, member of the Israel negotiating mission, said that the oil shipments would start in advance of formal ratification of the treaty. He pointed out that the pact had to be approved by the German Bundestag at Bonn and confirmed by the British, French and American High Commissioners. The treaty, when ratified, will be recorded with the United Nations, he said.)
Of the remainder of the first year’s payments, 21 percent has been allocated for the purchase of iron, steel and other metals; 36 percent for machinery and equipment such as locomotives, trucks, shipping, etc,; 20 percent for needs of industries like rubber, chemicals, dyes, etc,; three percent for agricultural products and 12 percent for transport, administration and insurance services.
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