Israel Signs Largest Ever Defense Export Deal with Greece for $3.6 Billion Air Defense Systems

After three years of negotiations, Israel is set to finalize its largest defense export deal in history with Greece on the upcoming Monday in Tel Aviv. The Greek delegation will sign a contract with the Israeli Ministry of Defense to purchase multi-layered air defense systems valued at $3.6 billion (3 billion euros). This deal will provide Greece with advanced protection against threats from Turkey and Iran for the first time.

The majority of the contract funds will go to Rafael Advanced Defense Systems, which will supply Greece with David's Sling systems to counter heavy rockets and ballistic missiles, as well as mobile SPYDER systems designed to defend against drones and UAVs. Israel Aerospace Industries (IAI) will provide the Barak MX system to defend against aircraft and missiles. The agreement also includes a national command and control center integrating artificial intelligence to manage the defense systems and missile launches.

Greek companies will receive approximately 700 million euros as subcontractors to Rafael and IAI. The project, known in Greece as "Achilles Shield," involves deploying SPYDER batteries on Greek islands popular with Israeli tourists. This deal surpasses Israel's previous largest defense export, a $3.5 billion sale of the David's Sling system to Germany in 2023.

Greece is already a significant customer of Israeli defense industries, having purchased Spike missiles, Spice bombs, Rampage missiles, and Heron-2 drones in recent years. This new air defense deal marks a strategic partnership, with Israel assuming responsibility for protecting Greek airspace. Greece, Cyprus, and Israel have strengthened their security coordination in recent years in response to increasing threats from Turkey. Cyprus has also reportedly acquired the Barak MX system from Israel for its air defense.

Summary: Israel and Greece will sign a $3.6 billion deal for advanced multi-layered air defense systems, marking Israel's largest defense export. Rafael and IAI will supply the systems, enhancing Greece's protection against regional threats and deepening strategic ties between the two countries.