Israel, Greece sign record €3B arms deal

Israel and Greece have signed a massive €3 billion deal, under which Israel will build Greece a multi-tiered air defense array, Report informs via The Times of Israel.

The "Achilles Shield" agreement will see Israel export several systems, including David's Sling and SPYDER, manufactured by Rafael; and BARAK MX, manufactured by Israel Aerospace Industries, according to the Israeli Defense Ministry.

The ministry says it is the "largest defense export deal in the history of Israel-Greece relations, and one of the largest in the history of the State of Israel."

It also marks the first time that Israel will supply another country with a "complete defense array against a wide range of threats," including ballistic missiles and drones.

The deal was signed today at the ministry headquarters in Tel Aviv by Defense Ministry Director General Amir Baram and his Greek counterpart, Ioannis Bouras.

"Under the deal, Israel will build Greece a comprehensive, multi-layered air defense array, drawing entirely on Israeli-made systems and on the extensive operational experience Israel's defense establishment has gained during the war," the ministry says.

The statement says that a supplementary deal, valued at €26 million, was also signed today for the sale of Rafael's Drone Dome systems.

Additionally, the ministry says Israel will "expand industrial defense cooperation with Greece, including the transfer of knowledge and technology to the local industry."

"This project marks another milestone in defense cooperation between Israel and Greece, a key strategic partner in the Eastern Mediterranean. Greece's choice of Israeli technology as the backbone of its most ambitious air defense buildup program in the past decade reflects the depth of trust built between the two countries," the statement adds.