Why France is angry about the US and UK giving Australia nuclear-powered submarinesBy Maegan Vazquez, CNN
Updated 5:58 PM ET, Fri September 17, 2021
https://www.cnn.com/2021/09/17/politics/france-anger-over-nuclear-powered-submarines-explained/index.html< Edited >
France stands to lose the equivalent of $65 billion US dollars from an existing deal to provide Australia with conventional, diesel-powered submarines.
The canceled deal with France, a major global weapons exporter, is expected to make a significant economic impact on the French defense sector. France also stands to lose out strategically in the Indo-Pacific, where the country holds significant interests.
On Thursday, after the nuclear-powered submarine deal with the US and the UK was announced, Australia formally announced it would be withdrawing from its previous contract for conventional submarines with France.
The deal with Paris had been in the works for years.
Australia previously planned to acquire 12 conventional attack-class submarines from the French shipbuilder Naval Group, which successfully beat out competing German and Japanese bids in 2016.
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