Israel Defence Minister Israel Katz shakes hands with General Director of the General Directorate for Defence Investments and Armaments (GDDIA) of Greece, Major General Ioannis Bouras, next to Greece's Defense Minister Nikolaos Dendias, during a visit in Greece, on January 2026, in this handout image obtained by Reuters on August 31, 2026. [Israel Defence Ministry/Handout via Reuters]
A defense agreement described by both sides as strategically significant was formally signed in Tel Aviv on Monday, linking Greece and Israel through what officials said is the largest contract ever concluded between the two countries.
The €3 billion agreement for the Achilles Shield project has an implementation timeline of 35 months and includes participation by Greek companies in 25% of the work. According to the agreement, the project will connect the two countries for a substantial period while also providing for the transfer of know-how and creating prospects for future co-production through Greece’s industrial ecosystem.
The contract makes Israel the third major supplier of high-technology, high-value defense systems to Greece, alongside France and the United States.
For the Greek armed forces, the Achilles Shield system is intended to operate under national control, with an integrated capability for the simultaneous targeting and interception of missile, ballistic and airborne threats.
