Israel and Greece signed a €3 billion ($3.5 billion) defense deal on Monday to establish a multi-layered air defense system for Greece. The agreement, which is one of Israel's largest ever arms export deals, will provide Greece with a comprehensive air defense umbrella by 2029.
The Greek Defence Ministry stated that the purchase is part of the greatest reform of its armed forces in history. This initiative is part of a broader military modernization program as Greece seeks to keep pace with Turkey amid boundary disputes. Greece currently spends a higher proportion of its budget on defense than many of its NATO allies.
The agreement demonstrates that the Israeli defense industry continues to find considerable demand abroad, despite the growing diplomatic isolation of the government.