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Israel benefits from the Russian-Ukrainian crisis and brags about selling arms to Europe

The Israeli aerospace and aircraft manufacturer, which boasts of a rapid growth in the arms trade following the Ukrainian conflict, is making efforts in the European market, profiting from the conflict in the region.

The crisis in Ukraine is reshaping Europe’s military spending. European countries began to increase their military budgets, which led to an increase in the demand for weapons.

Western countries responded to the Russian military operation by backing Ukraine with money and heavy weapons while imposing unprecedented sanctions on Russian officials and entities.

In recent months, they have supplied Ukraine with artillery, anti-aircraft missiles, anti-tank weapons and other powerful weapons, with President Volodymyr Zelensky demanding more.

According to a study published by the Stockholm International Peace Research Institute (SIPRI), while arms exports decreased by 4.6% worldwide in 2017-2021 compared to the previous five years, the Europe recorded a 19% increase, registering the largest increase in weapons in the world. imports.

The current war-torn region appears to favor Israel’s Aerospace Industries (IAI), which is carving out a niche for its military sales in Russia’s neighboring countries, primarily Germany.

Israeli newspaper Haaretz quoted Amir Peretz, IAI chairman and former military minister, as saying that the entity is seeking to enter the European market, increasing its presence in Russia’s neighboring countries by acquiring other companies. and building new marketing platforms.

The report says Israel’s arms industry has focused on Germany, which is expected to add 100 billion euros to its military budget. It also competes to sell missile systems to Finland.

Boaz Levy, the CEO of IAI, said he hopes the Germans will soon agree to the purchase of the Arrow 3 anti-ballistic missile interceptor system, a deal which foreign sources say is estimated at 2 billion euros. IAI is also competing to sell its Barak 8 missile defense system to Finland.

US and European leaders have said they are content with a long-term war in Ukraine, which they hope will weigh on Russia and weaken it.

Pentagon chief Lloyd Austin announced that about 20 countries had offered new military assistance programs to Ukraine to fight Russian forces at a meeting of allies on Monday.

He said Denmark pledged to send Harpoon anti-ship missile systems to Ukraine and the Czech Republic offered attack helicopters, tanks and rocket systems.

But Austin did not provide details on what is included in a new US$40 billion aid package for Ukraine, amid speculation it could include high-precision, long-range rockets. that could be used to strike Russian territory.

The Biden administration is also working to deliver anti-ship missiles to Ukrainian fighters to help break Russia’s naval power.

As the devastating toll of the conflict on the global economy is most disconcerting, the UK, US, France and Germany discuss whether to sign a security guarantee for Ukraine to continue to provide weapons and long-term support.

This is apparently good news for Peretz, who also said his arms-producing company is stepping up sales to Arab countries that have signed normalization agreements with Israel.

According to Israeli reports, Morocco agreed in February to buy a missile defense system from the Israeli arms manufacturer for around $600 million.

Last March, the company also announced plans to jointly develop an advanced anti-drone missile system with the UAE state-owned arms maker.

As a result of these transactions, it amassed a total of $14 billion in unfilled orders in the last quarter, the equivalent of three years in business.