Cyprus and Israel advance negotiations on 150 million euro naval deal

The Republic of Cyprus and Israel are nearing the final stages of a government-to-government agreement for the acquisition of new naval vessels and advanced weapons systems. According to reports from the Israeli financial newspaper Calcalist, the deal is valued at approximately 150 million euros and involves a partnership between Israel Shipyards, which will supply the vessels, and Rafael Advanced Defense Systems, which will provide the necessary armaments.

The negotiations are currently focused on finalizing technical and financial terms between the defence ministries of both nations. While the exact number and type of vessels remain undisclosed, the agreement is expected to be signed within the coming weeks. This procurement project aims to strengthen the operational capabilities of the Cypriot Navy.

This initiative builds upon a long-standing defense cooperation between the two countries, which includes previous procurement contracts for offshore patrol vessels used for the protection of the Cypriot Exclusive Economic Zone. Both companies have a history of successful collaboration in various international defense markets, including projects in the Philippines and Azerbaijan. The ongoing discussions represent a continued expansion of strategic ties between Nicosia and Jerusalem.