PNN – A Hebrew media outlet reported that the Qataris, acting as Volkswagen shareholders, blocked a contract with an Israeli arms manufacturer.
According to the report of Pakistan News Network; the news and analysis site News1 reported that the Qataris—in their capacity as Volkswagen shareholders—prevented the conclusion of a major agreement between the German company and the Israeli defense firm Rafael.
According to this Hebrew-language media outlet: Qatar’s sovereign wealth fund, a major shareholder in Volkswagen, vetoed a significant, planned agreement with the Israeli defense firm Rafael.
Based on this report—which was also picked up by global news agencies—the government in Doha exercised its voting rights to completely halt this joint military production project on German soil.
The cancelled agreement involved repurposing production lines at an aging Volkswagen plant in Osnabrück—a facility grappling with a severe financial crisis—where the lines were slated to manufacture engines and components for the “Iron Dome” air defense system.
The Qatar Investment Authority, which holds a 17 percent voting stake in the automaker, refused to agree to a direct business relationship with an Israeli military company.
This decision by Qatar deals a significant blow to Volkswagen’s management and the German government, both of which viewed the deal as a strategic move.
European experts are now warning about the growing dependence of the continent’s key industries on capital flowing from the Persian Gulf states.
Israeli media reported that, following the collapse of negotiations in Germany, Rafael has initiated advanced talks with military companies in India to establish alternative production lines for interceptor missiles outside the borders of occupied Palestine and the United States.