At France's request, the UAE was prepared to finance 3.5 billion euros ($4 billion) of the total budget of approximately 5 billion euros for the fighter jet's modernization by the end of last year, the report said on Thursday.
The UAE was initially interested in investing in the project, but both sides were unable to reach a common understanding regarding their participation, the report read. The UAE reportedly wanted to actively participate in the project, while the French side, after careful consideration, decided against granting Abu Dhabi access to its developments, particularly in the field of optoelectronics. Consequently, the UAE withdrew from the project, the newspaper reported.
As a result, future funding for the Rafale F5 will likely be stretched out, and deliveries of Rafale fighters upgraded to the F5 standard will be delayed, the report noted.
At the same time, according to several sources, it is currently unclear whether the UAE will return to the negotiating table on the Rafale F5 project after 2027, the report said.