Greece and Israel Sign $3.6 Billion Achilles Shield Deal

Greece and Israel signed a multi-layered air-defense agreement on August 31 in Tel Aviv to establish the Achilles Shield. Valued at approximately €3 billion ($3.5 billion to $3.6 billion), the project represents the largest defense export deal in Israeli history. The network integrates Israeli platforms—including Rafael Advanced Defense Systems' David's Sling and SPYDER, and Israel Aerospace Industries' Barak MX—with Greece's existing Patriot batteries to intercept ballistic missiles, aircraft, and drones.

Nikos Dendias, the Greek Defense Minister, oversaw the procurement as part of a broader €28 billion military modernization plan extending through 2036. The system will replace aging Russian-built S-300 and Tor-M1 inventory and utilize artificial intelligence to optimize interception costs. To ensure national operational control, the agreement includes source-code transfers and guarantees that Greek companies will handle at least 25% of the project, with work valued at over €700 million. A supplementary €26 million agreement for Rafael's Drone Dome systems was also signed.

The deal follows the Mecca Joint Defence Agreement between Saudi Arabia, Turkey, and Pakistan, which Greece and Israel perceive as a security threat. Israeli officials characterized the partnership as a response to shared regional challenges and hegemonic ambitions. The Achilles Shield is expected to be fully operational within 35 months of the contracts taking effect.