Israel and Cyprus are nearing an agreement on a naval purchase worth about €150 million, Calcalist reported Oct. 20, with the terms still to be finalized.
Under the reported arrangement, Israel Shipyards would supply the vessels and Rafael Advanced Defense Systems would provide their weapons. Calcalist said the deal was being arranged between the governments. It gave no final vessel count or signing date.
The Cyprus Mail separately reported that unnamed sources in Cyprus’ defense ministry said an agreement was in place to buy one patrol vessel from Israel. As of Oct. 20, the Cyprus Mail said neither defense ministry had publicly confirmed the reported procurement.
Israel Shipyards lists an offshore patrol vessel among its earlier deliveries to the Cyprus Navy. The leaders of Cyprus, Israel and Greece also pledged closer maritime security cooperation in a Dec. 22, 2025, declaration, including efforts to protect sea routes and critical infrastructure.
The Israel Ministry of Defense (IMOD) said Israeli defense industries signed $19.2 billion in export contracts in 2025, including about $10 billion in government-to-government agreements. Those figures cover the wider defense industry, not the proposed Cyprus purchase.
Calcalist reported that a signing was expected in the coming weeks after the defense ministries finalize the terms.
