From Iron Dome to ZIM: The economic confrontation between Israel and Qatar escalates
Following the Qatari veto on the Rafael and Volkswagen deal, opposition is forming in Israel to the sale of ZIM to Hapag-Lloyd and the FIMI fund. Security agencies and government ministries fear Qatari and Saudi influence on the national logistics artery.
The conflict between Israel and Qatar is entering a new phase: following the funding of terrorist organizations led by Hamas and campaigns of delegitimization against Israel, the two sides are now engaged in economic warfare. Qatar, which holds 17% of Volkswagen shares, has imposed a veto on a deal by Rafael to operate a production line for Iron Dome components at the company's plant in Osnabrück, Germany.
Israel has recently announced a ban on all defense exports to Qatar. In the coming days, the government is expected to block the massive deal to sell the shipping company ZIM. The security establishment, including the Shin Bet, Malmab (Directorate of Security of the Defense Establishment), and the IDF, along with the Ministries of Agriculture, Defense, Energy, and Economy, oppose the deal because part of the shares of the German corporation Hapag-Lloyd are held by the sovereign wealth funds of Qatar and Saudi Arabia.
The sale agreement, signed in February 2026, involves the acquisition of ZIM for 4.2 billion dollars by the German shipping giant Hapag-Lloyd and the Israeli investment fund FIMI.
Bypassing regulation through a separation mechanism
To circumvent security and regulatory restrictions, the deal was structured as follows: Hapag-Lloyd will acquire and absorb all of ZIM's international operations and its chartered fleet, while the FIMI fund will establish a separate company called "ZIM Israel". This entity is intended to own 16 medium-sized ships, maintain strategic lines to Israel, and hold the components of the state's "golden share".
However, the ownership structure raises serious concerns. Approximately 35% of Hapag-Lloyd is held by government and investment entities from Qatar and Saudi Arabia.
Strategic risk
The State of Israel defines ZIM as a "national lifeline". During emergencies and wartime, foreign companies often refuse to call at Israeli ports, leaving ZIM as the sole entity committed to transporting military equipment, ammunition, food, and medical supplies. The entry of Qatari and Saudi shareholders into influential positions within the parent company poses a direct threat to the independence of Israel's strategic logistics chain.
Defense Minister Israel Katz has stated that he is adopting the position of Malmab and the professional team, determining that the deal in its proposed format does not preserve Israel's security interests. The state intends to exercise its authority under the golden share to block the move.
Prime Minister Benjamin Netanyahu, according to the ZIM workers' union, addressed the issue in the cabinet and stated that "the sale of ZIM is not on the agenda at all".
The Government Companies Authority has presented the buyers with a document containing 145 security and economic questions. The state has postponed a final decision until special hearings scheduled for September 2026.
