US approves $3.5bn sale of Arrow 3 missile defence system to Germany to intercept ballistic missiles

Israel has moved closer to signing its largest defence export contract. It is about the sale of the Arrow 3 missile defence system.

Here's What We Know

The buyer of the Arrow 3 is Germany. The Israeli government said that the deal was approved by the US State Department. The need for approval is due to the involvement of the US Missile Defence Agency in the development. The agreement will be worth $3.5bn.

Arrow 3 is a missile defence system whose development was led by Israel Aerospace Industries (IAI). The weapon is designed to intercept enemy ballistic missiles outside the atmosphere.

Germany will pay $600 million in advance payments, which are intended to cover Israeli losses if the deal falls through. If all goes according to plan, the contract will be signed by the end of 2023, when the parliaments of both countries agree.

Source: Defence News