Israel and Greece Sign $3.5B 'Achilles Shield' Weapons Deal

Israel and Greece signed their largest-ever bilateral weapons agreement, dubbed Achilles Shield, valued at nearly $3.5 billion. The deal significantly deepens defense industrial ties between the two countries and expands Israel's defense export footprint in NATO Europe.

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This is the largest Israel-Greece defense deal on record, providing a durable multi-year revenue stream for Israeli defense contractors including Elbit Systems, Rafael, and IAI, which supply advanced air defense, drone, and electronic warfare systems. Greece's military modernization accelerates, reducing its dependence on US-only procurement and diversifying its NATO-compatible arsenal with Israeli technology. The deal validates Israel's defense export industry during an active combat period, demonstrating that wartime operational experience translates into export credibility. Other NATO members with modernization needs — particularly in Eastern Europe — may be drawn to Israeli systems proven in the Iran conflict, expanding the addressable export market. European defense integrators like Rheinmetall and Leonardo face increased Israeli competition in NATO peripheral markets.