Israel has agreed to supply Greece with missiles and launchers in a transaction worth €650 million ($750 million), the Ministry of Defense confirmed. The deal marks a significant escalation in the two countries’ military cooperation.

The agreement follows years of arms talks and stems from Greece’s push to diversify its defense partners amid regional tensions. By adding Israeli missile technology to its arsenal, Greece strengthens deterrence against potential adversaries.

For the Israeli defense industry, the contract represents a sizable revenue boost and expands its footprint in Europe. Investors will note the transaction’s impact on the company’s earnings projections and on the broader market for military hardware.

The deal underscores the growing importance of defense exports as a driver of economic growth in both nations, solidifying Israel’s role as a key supplier in the European security arena.