OceanGate believes that the passengers on the Titan submersible have "sadly been lost" in a statement cited by CNN.
60-year-old Arthur Liobl described his trip aboard the Titan as a "suicide mission."
The issue was that OceanGate did not go through the industry's recognized certification process for the sub's design, fabrication and testing.
The deal costs Israel an estimated €3 billion and would see the submarines reach Israeli shores in 9 years.
This incident could have long-term consequences as it may be perceived as part of Russia's attempts to intervene more in the region after the Syrian civil war.
The Komsomolets (K-278) sank on April 7, 1989 after a fire broke out on board, killing 42 members of the crew.
n the Submarines Affair, the police have recommended bribery charges against several top former Netanyahu associates.
Iran has developed a large domestic arms industry after decades of international pressure and despite embargoes that have barred it from importing many weapons.
Olmert, who offered an exclusive interview to Channel 13’s Udi Segal, said he did not think at the time that the shipyard building strategic weapons for Israel would sell submarines to Egypt.
Ganor is the former sales representative of Thyssenkrupp Israel, a German company involved with selling Israel nuclear submarines.