Israel Signs Historic $2.7 Billion Air Defense Deal With Greece

Israel and Greece have finalized a landmark defense agreement worth over 10 billion shekels (approximately $2.7 billion), marking one of the largest defense export deals in Israeli history. The "Akillis Shield" contract, signed at the Ministry of Defense in Tel Aviv, will see Greece acquire a multi-layered air defense system capable of countering a wide range of threats, including drones, cruise missiles, and ballistic missiles.

The comprehensive package includes Israel's David's Sling, Barak MX, and SPYDER missile defense systems, along with MMR multi-mission radars and a new national command and control system to coordinate Greece's air defenses. An additional agreement will provide Greece with Rafael's DRONE DOME systems for approximately 92 million shekels to protect strategic sites from drone attacks.

The deal, which follows nearly three years of negotiations, faced competition from other nations, notably France, which had actively lobbied Greece to purchase French air defense systems. French President Emmanuel Macron had visited Greece in an effort to boost his country's chances.

Beyond the economic implications, Israel views the agreement as a significant strategic move to strengthen ties with Greece amidst rising regional tensions and competition for influence in the Eastern Mediterranean, particularly concerning the growing friction between Israel and Turkey. Both nations also agreed to enhance industrial and security cooperation, including technology transfer.

Israeli Defense Minister Yoav Gallant stated that Israel and Greece "share common strategic interests and face common regional challenges," emphasizing their continued deepening of defense and strategic cooperation. The Director General of the Ministry of Defense called the deal a "strategic milestone," reflecting growing trust in Israeli technology and operational expertise. Officials from Rafael and Israel Aerospace Industries highlighted the deal's importance for bilateral relations and the increasing global demand for Israeli defense systems.