Israel Signs Landmark $2.7 Billion Defense Deal With Greece

Prime Minister Benjamin Netanyahu lauded a "giant" defense deal signed with Greece, valued at over 10 billion shekels (approximately $2.7 billion), calling it "one of the largest in the country's history" and further proof of Israel's strength. The agreement, dubbed "Achilles Shield," will see Israel establish a multi-layered air defense system for Greece, marking the largest defense export deal in the history of relations between the two nations and one of the largest ever signed by Israel.

This strategic move is seen as a direct continuation of the Eastern Mediterranean alliance formed a decade ago with Greece and Cyprus. It aims to bolster Athens' defense capabilities against various aerial threats and is interpreted as a move to counter Turkey's regional ambitions. The deal is second only to Israel's "Arrow" system deals with Germany signed recently.

The air defense system will be based on Israeli-made systems and operational knowledge, designed to counter ballistic missiles, aerial attacks, drones, and other advanced threats. It includes systems like David's Sling, BARAK MX, MMR radars, and the SPYDER system. A complementary deal worth 26 million euros for DRONE DOME systems was also signed.

Defense Minister Israel Katz highlighted the agreement as a step in deepening the strategic partnership between Israel and Greece in the face of shared regional challenges. He stated that both nations will continue to enhance their security and strategic cooperation to maintain stability and security, particularly against actors seeking to destabilize the region.

The signing ceremony, held in Tel Aviv, was attended by senior officials from both countries' defense ministries and leading Israeli defense industry executives. The deal also includes increased industrial-defense cooperation, including knowledge and technology transfer to Greece's local industry.