Israel and Greece signed an arms export deal worth approximately €3 billion (around $3.48 billion) on August 31, 2026, according to Israel's Defense Ministry. The deal involves the establishment of a comprehensive, multi-layered air defense system for Greece, utilizing exclusively Israeli-made systems. The ministry's statement indicated that the systems would leverage the operational experience gained by Israel's defense establishment during ongoing conflicts, particularly referencing tensions with Iran.
The agreement, named the "Achilles Shield," includes the export of several defense systems such as David's Sling and SPYDER, produced by Rafael, and BARAK MX, manufactured by Israel Aerospace Industries, as reported by the Times of Israel. The signing took place at the ministry headquarters in Tel Aviv, with Defense Ministry Director General Amir Baram and Greek Defense Ministry Director General Ioannis Bouras in attendance.
This arms deal is part of a broader military modernization initiative, with Greece planning to invest approximately €28 billion by 2036 to develop the "Achilles Shield," which encompasses anti-ballistic missile, anti-aircraft, and anti-drone capabilities. This program also includes the acquisition of fighter jets from the United States and warships from France and Italy.
Currently, Greece employs a combination of US-made Patriot air defense missiles, Russian S-300 systems, and various short-range air defense systems. Israel and Greece have been negotiating this deal for about three years, as noted by the Jerusalem Post. The two nations maintain strong economic and diplomatic relations, operating an air training center in Greece and conducting joint military exercises, as well as collaborating on anti-drone systems and cybersecurity.
The Israeli Defense Ministry described the deal as the largest defense export agreement in the history of Israel-Greece relations and one of the largest in Israel's history. Greece is also dealing with ongoing territorial disputes with Turkey in the Aegean Sea and eastern Mediterranean. In response to threats from Iran, Greece has recently repositioned a Patriot air defense system to the island of Crete, which is home to a significant US military base at Souda.