Did You Know? World's Biggest Car Theft Of 1,000 Volvo Cars Was Done In The 1970s By This Country

Car thefts now are an oft heard of event. But the history of car thefts goes back long. In fact, the biggest car theft in history was in the 1970s and it was done by a government! You may just be able to guess the name of the nation because, well, they are known for doing things quite out of the box.?

The nation is North Korea and the year was 1974.?

Failure to pay for 1,000 Volvo cars?

The Swedish government made an agreement with North Korea in 1974 to send heavy machinery and 1,000 Volvo 144 sedans for use as taxis, all worth over USD 70 million.?

Credit: Volvo

Kim Jong Un's grandfather, Kim Il Sung, gave the order during a time when North Korea's economy was doing well with support from other countries.?

Unfortunately, North Korea didn't fulfill its financial obligation and failed to pay Volvo for the 144 sedans.?

This failure to pay, even to this day, makes it the biggest car theft in history!?

Invoice being sent to North Korea till today?

As per the Swedish Export Credit Agency, the interest and penalties on the 1,000 Volvo cars have accumulated to a staggering USD 322 million (Rs 22,000 crore) over the past 49 years.?

Credit: X

Although the outstanding amount for the Volvo cars was eventually paid using public funds, the Swedish government is still waiting to get reimbursed by North Korea.?

To this day, every two years, the Swedish government sends a notice about the unpaid invoice to North Korea.?

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This ongoing financial dispute remains a significant factor contributing to the strained diplomatic ties between Sweden and North Korea, underscoring the enduring impact of this historic transaction on international relations between the two nations.?

The unpaid Volvo invoice stands as a unique symbol of the intricate dynamics that persist between nations, and the lingering impact of past economic interactions on present-day diplomatic relationships.??

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