Israel, Greece to sign $3.6bn defense deal, Israel's largest ever

Israel and Greece are set to finalize a landmark $3.6 billion defense cooperation agreement in Tel Aviv on Monday, marking Israel’s largest-ever defense export deal. The accord, known in Greece as the “Achilles Shield” initiative, will provide Athens with advanced air defense capabilities as regional security concerns intensify.

Under the agreement, most of the $3.6 billion will be directed to Rafael Advanced Defense Systems, an Israeli state-owned defense contractor. Rafael will supply Greece with the David’s Sling system, a cutting-edge interceptor designed to neutralize heavy rockets and ballistic missiles, along with mobile SPYDER systems capable of countering unmanned aerial vehicles and drones. Additionally, Israel Aerospace Industries will contribute the Barak MX system, a versatile defense platform engineered to intercept aircraft and incoming missiles.

The deal underscores the deepening strategic partnership between Israel and Greece, particularly in the realm of defense and security. Both countries have increasingly collaborated in recent years, driven in part by shared concerns over regional instability and Turkey’s assertive military posture in the Eastern Mediterranean. Greece has been strengthening its defense procurement efforts, seeking to modernize its armed forces amid ongoing tensions with Ankara over maritime borders and airspace.

The agreement is expected to enhance Greece’s air defense network significantly, offering layered protection against a range of aerial threats. David’s Sling, developed jointly by Rafael and the U.S. defense firm Raytheon, is already operational with Israel’s military and has proven effective in intercepting medium- to long-range projectiles. The SPYDER system provides rapid-response defense against drones and cruise missiles, while the Barak MX offers a flexible, multi-layered shield for aerial defense.

Israeli Defense Minister Yoav Gallant is scheduled to attend the signing ceremony in Tel Aviv, alongside high-ranking Greek officials. The deal follows a series of bilateral defense and energy agreements, including joint military drills and infrastructure projects. It also aligns with Greece’s broader military modernization program, which includes acquisitions from France, the United States, and other partners.

Analysts view the $3.6 billion deal as a strategic win for both nations. For Israel, it solidifies its position as a leading global defense exporter, with annual arms sales exceeding $10 billion in recent years. For Greece, it represents a critical step toward bolstering national security and deterrence in a volatile geopolitical environment.

The agreement is pending final approval and is expected to be implemented over the next several years, with delivery schedules and training programs to follow.

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