Greece to sign $3.5 billion air defence deal with Israel

Key facts

• Greece is set to sign a $3.5 billion deal with Israel for a multi-layer air defence system.
• The agreement includes advanced short, medium, and long-range missile systems and an anti-drone system.
• The deal is part of Greece's "Achilles Shield" military modernization program.
• Greece spends nearly 3.5% of its GDP on defence.

Greece is poised to sign a significant defense agreement with Israel on Monday, valued at approximately €3 billion ($3.5 billion), for a comprehensive multi-layer air defence system. This acquisition is a key component of Greece's ambitious military modernization strategy, dubbed "Achilles Shield," which aims to bolster its defenses through 2036.

The deal, which has received initial approval from Greece's security council, encompasses advanced short, medium, and long-range missile systems, as well as a dedicated anti-drone system. Greek officials are scheduled to sign four separate agreements with Israeli defense directorates SIBAT and MAFAT in Tel Aviv.

Greece's commitment to defense is substantial, with the country allocating nearly 3.5% of its GDP to military spending, a figure higher than many NATO allies, largely due to ongoing disputes with neighboring Turkey. The nation already utilizes a mix of U.S.-made Patriot systems, Russian S-300 systems, and various short-range air defenses.

This defense cooperation builds upon existing strong economic and diplomatic ties between Greece and Israel, which include joint military exercises and an air training center in Greece. Last year, Athens acquired Israeli-made rocket artillery systems for approximately €650 million. The broader modernization plan also includes the potential purchase of up to 40 F-35 fighter jets from the U.S. and frigates from France and Italy.