Israel and Greece signed a defense export agreement worth some €3 billion ($3.5 billion) on Monday, under which the Jewish state will build the Hellenic Armed Forces a multi-layered air defense array, the Israeli Defense Ministry said.
The deal, signed at the Defense Ministry’s Tel Aviv headquarters, includes David’s Sling missile defense batteries, Rafael Advanced Defense Systems’ Spyder mobile air defense systems, Israel Aerospace Industries’ BARAK MX modular, multi-layer air and missile defense systems, multi-mission radars made by IAI subsidiary ELTA Systems, and a new national command-and-control system to be developed by Rafael.
An approximately €3 billion deal: Israel and Greece have signed the massive "Achilles Shield" agreement, under which Israel will build Greece a multi-layered air defense array based on Israeli systems architecture.
— Ministry of Defense (@Israel_MOD) August 31, 2026
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An additional agreement worth €26 million ($30 million), covering Rafael’s Drone Dome systems, was also signed on Monday.
The overall program, known in Greece as “Achilles Shield,” is the largest defense export deal in the history of Israeli-Greek relations, and one of the largest in Israeli history, the statement said.
Athens approved the procurement framework on July 23, as part of a sweeping $31.8 billion military modernization initiative slated through 2036. Greek Defense Minister Nikos Dendias noted at the time that the multi-layered “Achilles Shield” array—which also integrates Heron unmanned aerial vehicles alongside other allied platforms—is slated to become fully operational within 35 months.
Jerusalem will also expand industrial defense cooperation with Athens, including through transfers of knowledge and technology, the Israeli Defense Ministry added.
“Israel and Greece share common strategic interests and face shared regional challenges,” Defense Minister Israel Katz said. “At a time when actors with hegemonic ambitions are seeking to expand their influence and undermine stability in the region, Israel and Greece will continue to deepen their defense and strategic cooperation, and will act with determination to preserve stability and safeguard their security and shared interests.”
In a separate statement, IAI said it “has maintained extensive cooperation with European countries for many years, providing advanced, combat-proven systems across the maritime, land, air and space domains. In recent years, IAI has sold advanced defense systems in Europe valued at tens of billions of shekels.”
IAI’s European expansion “reflects growing demand for advanced defense systems with proven operational effectiveness,” the company added. “As part of this effort, the company is leading major strategic programs, including the Arrow 3 system for Germany, while also establishing local infrastructure, subsidiaries and innovation centers, and expanding cooperation with local defense industries. Through these activities, IAI provides its partner countries with a broad operational and technological framework designed to strengthen their resilience and security.”
