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Israel and Greece ink €3 billion air-defense deal

Colin Demarest

F-16s fly over the Parthenon and Acropolis. The city and water can be seen from afar. — Hellenic Air Force F-16s fly over the Parthenon and Acropolis in March 2025. Photo: Theophile Bloudanis/AFP via Getty Images

Israel will build Greece a missile-and-drone defense network similar to its own.

Why it matters: The arrangement, dubbed Achilles Shield, is valued at around €3 billion, or almost $3.5 billion. It's billed as the largest defense export in the history of Israel-Greece relations.

Driving the news: The deal was signed Monday in Tel Aviv. It includes:

David's Sling, Spyder and Barak MX air-defense systems from Rafael and Israel Aerospace Industries;
Multi-mission radars from Elta Systems, a subsidiary of IAI;
And a new command-and-control system, to be developed by Rafael.

What they're saying: The two countries "share common strategic interests and face shared regional challenges" and plan to "deepen defense cooperation," Israel's defense minister, Israel Katz, said in a statement.

He visited Greece a few months ago.

Zoom out: Greece is overhauling its military and stimulating its domestic defense industry in an effort known as Agenda 2030.

More than a dozen Greek firms are participating in Achilles Shield, according to the government.

Go deeper: Defense industry must collaborate more in Middle East, says Dunford

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Israel and Greece ink €3 billion air-defense deal

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