Israel Shipyards and Rafael Nearing €150M Defense Deal with Cyprus
Israel Shipyards and Rafael are finalizing a 150 million euro deal to supply naval vessels and weapons to Cyprus, amid a broader surge in Israeli defense exports.
Israel Shipyards and Rafael Advanced Defense Systems are nearing a joint deal to supply naval vessels and weapon systems to Cyprus, valued at approximately 150 million euros. The agreement is expected to be signed in the coming weeks following final coordination between the Israeli Ministry of Defense and the Cypriot Ministry of Defense.
Joint Naval and Air Defense Initiatives
Under the prospective deal, Israel Shipyards will provide the Cypriot Navy with vessels equipped with Rafael's advanced weapon systems. This collaboration follows previous joint ventures in Cyprus, Azerbaijan, and the Philippines. The intergovernmental (G2G) framework aims to deepen security and economic ties between Israel and Cyprus, establishing a strategic axis alongside Greece amid regional geopolitical shifts.
Artillery and Defense Exports
Meanwhile, Elbit Systems recently reported a $235 million contract to supply artillery launchers and rockets to Azerbaijan. The deal involves medium-range EXTRA-MR rockets and PULS launchers, scheduled for delivery over the next three years. According to the Ministry of Defense, Israeli defense exports reached $19.2 billion, with 52 percent conducted through intergovernmental agreements.
