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Israel, Greece to sign record $3.6bn defense deal

Published : Sunday, 30 August, 2026 at 12:19 PM

Observer Online Report

Collected Photo

Greece is set to sign a historic $3.6 billion defense agreement with Israel on Monday in Tel Aviv to procure an advanced air defense system.

The initiative, named "Achilles Shield" in Greece, marks the largest defense export deal in Israel's history.

Under the agreement, Rafael Advanced Defense Systems will receive most of the project's funding. The company will supply Greece with David's Sling systems to intercept heavy rockets and ballistic missiles, alongside mobile SPYDER systems to counter drones and unmanned aerial vehicles (UAVs).

Additionally, Israel Aerospace Industries will provide its Barak MX system to defend Greek airspace against enemy aircraft and missile threats.

The multi-layered defense network will integrate with Greece's existing U.S.-made Patriot missile batteries and local radar systems.

The deal includes a 25 per cent domestic industrial participation clause, directing over 700 million euros to nearly 12 Greek defense firms. Israel will also transfer software source codes, granting the Hellenic Armed Forces independence for system maintenance and upgrades.

Deliveries will take place in phases, with the complete system expected to become fully operational within 35 months.

-SA

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Editor : Iqbal Sobhan Chowdhury

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