Australia agrees to settle submarine spat with France

SYDNEY, 13 June 2022, (TON): Australia unveiled a substantial compensation deal with French submarine maker Naval Group, ending a contract dispute that soured relations between Canberra and Paris for almost a year.

Prime Minister Anthony Albanese said the French firm had agreed to a fair and an equitable settlement of 555 million euros ($584 million) for Australia ending a decade-old multi-billion-dollar submarine contract.

The agreement drew a line under a spat that caused leader-level recriminations and threatened to torpedo talks on an EU-Australia trade agreement.

French Defence Minister Sebastien Lecornu said “it permits us to turn a page in our bilateral relations with Australia and look to the future.”

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