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Australia will pay France compensation for breaking the contract to build a submarine

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Australia has entered into an agreement with the French Navy Group on compensation for breaking the contract for the construction of submarines in 2021, said Australian Prime Minister Anthony Albanese. The amount of the compensation has been set at EUR 555 million.

“It’s a fair and just agreement,” Anthony Albanese said at a press conference. He explained that the agreement was the result of talks with the president France Emmanuel Macron and thanked him for his commitment to restore good relations between Australia and France.

Anthony AlbanesePAP / EPA / PAUL BRAVEN

A broken contract is the cause of a diplomatic conflict

In September 2021, Australia, Great Britain and the US have concluded a security pact AUKUS. Canberra therefore terminated the contract for the purchase of 12 French conventionally propelled submarines worth 56 billion euros and announced a program of building nuclear submarines in cooperation with London and Washington. This decision sparked a major diplomatic conflict between France and USA and Australia.

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Head of the European Commission Ursula von der Leyen At that time, she said that the possibility of concluding a free trade agreement between the EU and Australia was questioned, reminds Reuters.

Main photo source: PAP / EPA / PAUL BRAVEN

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