Israel signs $400 million defense export deal with Greece

The Israel Ministry of Defense on Monday announced signing an agreement to allow Greece to purchase approximately $400 million worth of Spike missiles from Israel’s Rafael Advanced Defense Systems. 

The missiles are described as “fire-and-forget” anti-tank and anti-personnel guided missiles. The purchase agreement, signed with the Hellenic Ministry of National Defense, will allow Greece to acquire Spike missiles for naval, air and land-based systems. 

Rafael’s Spike missiles are commonly used as anti-tank missiles by some of the 19 NATO members and European Union nations which have acquired them. The missiles have already seen operational use. 

They can also be utilized in a naval setting against ships. Using a precise electro-optical guidance system, the missiles can be launched from approximately 45 platforms, from land, air and sea.

Following the announcement, Maj.-Gen. (Res.) Yoav Har-Even, CEO and president of Rafael, said the Spike missiles will strengthen the Greek army’s portfolio of operational tools.

“We expect further expansion through strategic collaborations in the near future,” Har-Even said. 

Israeli Defense Minister Yoav Gallant said the agreement would also improve “regional stability.” 

“This project joins a series of agreements between the State of Israel and the Hellenic Republic, and further emphasizes the strong partnership between our countries and our defense establishments, as well as our mutual commitment to ensuring regional stability,” Gallant said. 

The defense minister spoke about the Jewish state's unique technological capabilities as having enabled “the State of Israel to make positive economic and political achievements.”

This Greek-Israeli purchase agreement comes days after Israel announced a defense agreement with Finland that will see the new NATO member purchase Rafael’s David’s Sling anti-missile defense system. Finland became a member of the North Atlantic Treaty Organization on April 4. 

Finland initiated its purchase agreement with an initial $344 million investment in Israel's David’s Sling system. While the agreement is subject to the approval of the United States, given U.S. support for Finland’s NATO membership, there are no issues expected. 

Ukraine has also asked to purchase the system, however Israel has been unwilling to risk harming its current relationship with Russia, a key factor in allowing Israel to conduct operations against Iranian sites in Syria.