Israel and Greece Sign $3.5B Defence Deal, Largest Bilateral Agreement
Israel and Greece have finalized a defense export agreement valued at nearly €3 billion (US$3.5 billion), marking the largest deal ever between the two nations. Announced by Israel’s Defence Ministry on Monday, the pact, dubbed Achilles Shield, involves a multilayered air defense system for Greece utilizing Israeli technology. Israeli Defence Minister Israel Katz emphasized the shared strategic interests and regional challenges faced by both countries, especially as hegemonic forces aim to disrupt stability. This agreement comes amid record-high Israeli arms exports, surpassing US$19 billion last year, a 30% increase from 2024, despite criticism regarding Israel's military actions in Gaza and against Hezbollah and Iran. The collaboration signifies a notable strengthening of defense relations, particularly as Greece seeks to modernize its military in response to Turkey, a fellow NATO ally, amid ongoing maritime disputes.
Key facts
- Israel and Greece signed a defence deal worth nearly €3 billion (US$3.5 billion), the largest ever between the two countries.
- The deal, named Achilles Shield, includes a multilayered air defence system for Greece using Israeli technology.
- Israeli Defence Minister Israel Katz commented on shared strategic interests and regional challenges.
- Israeli weapons exports reached record highs of over US$19 billion last year, a 30% increase from 2024.
- The increase in exports occurred despite criticism of Israel's conduct in wars in Gaza, with Hezbollah, and with Iran.
- Experts say governments favour Israeli weapons because they are battle-tested and proven in real-time.
- Israel and Greece have deepened defence ties over the last decade, with this deal being the most significant.
- Greece is modernising its armed forces to keep pace with Turkey, a NATO member, amid disputes over sea boundaries in the eastern Mediterranean.
Entities
Institutions
- Israel Defence Ministry
- NATO
Locations
- Israel
- Greece
- Turkey
- Mediterranean
- Gaza
- Iran