Germany this week rejected a plea by the UK foreign secretary, Jeremy Hunt, to restart arms sales to the Gulf state. A Lords committee last week criticised the British government for being on “the wrong side of the law” amid concerns that UK arms sold to Saudi Arabia were being used in the war in Yemen.īAE Systems, which is headquartered in London and Farnborough, said it was “working closely with the UK government to minimise the risk of any such occurrence and the impact it would have on financial performance, the supply chain and relationships”. The UK has been critical over the dissident journalist’s death, but has so far refused to take similar action. Germany announced in November that it would no longer offer arms export licences to Saudi Arabia over the killing of Khashoggi. Shares in the company closed down nearly 8% at 465p, as investors took fright at the warning. “Current German government position on export licensing may affect the group’s ability to provide capability to Saudi Arabia, which may have a consequential impact on the group’s financial performance and relationships,” BAE warned. ![]() BAE said Germany’s arms export embargo could also threaten its maintenance and support contract with Saudi Arabia for the Typhoon, which currently brings in around £2.5bn in annual revenue for the UK firm.
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