Closely watched legislation foreseeing a significant boost in US support for Greece’s military modernization was passed by Congress on Wednesday, with the draft bill now needing only US President Joe Biden’s signature to become federal law.
The legislation, introduced by US Senate Foreign Relations Committee chairman Bob Menendez (D-NJ) and US Sen. Marco Rubio (R-Fla.), was included in an amendment to the ratified National Defense Authorization Act (NDAA) of FY22. The vote was 89 in favor to 11 against.
The bilateral defense cooperation agreement essentially punctuates increasingly intimate Greek-US ties on sectors ranging from energy security, security and stability in the wider region and trilateral and multilateral relations, including with Israel, Cyprus and a handful of other Near East states.
Approved by the US Senate Foreign Relations Committee earlier this year, the bipartisan bill is also tailor-legislated to foster increased multilateral engagement between divided Cyprus, Greece, Israel, and the United States.
In a statement, Menendez noted that “…The enactment of the US-Greece Defense and Inter-parliamentary Partnership Act of 2021 is a powerful demonstration not only of the Congress’s commitment to strengthening our bilateral defense relationship and enduring ties with our Hellenic partners, but also of our appreciation for Greece’s pivotal role in securing regional security and economic prosperity in the Eastern Mediterranean.”
Among the highlights of the bill is a reference to approving the sale of F-35 warplanes from the United States to Greece.
The text states:
Encourages the use of European Recapitalization Incentive Program (ERIP) assistance for Greece to support Greece’s transition away from Russian-produced military equipment
Authorizes $1.8 million per year in International Military Education and Training (IMET) assistance to Greece for FY2022 – 2026
Expresses the sense of Congress that the U.S. should provide direct loans to Greece for the procurement of defense articles, defense services, and design and construction services pursuant to the further development of Greece’s military force
Expresses the sense of Congress that the President has the authority to expedite delivery of any future F-35 aircraft ordered by Greece
Establishes an inter-parliamentary group among Cyprus, Greece, Israel and the United States to serve as the legislative component of the 3+1 process launched among the governments in March 2019
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Trump Tariffs Jeopardize Growth: Piraeus Chamber of Commerce
The tariffs, aimed at reducing the U.S. trade deficit, are expected to have both direct and indirect effects on the European economy
EU Condemns Trump Tariffs, Prepares to Retaliate
As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.
The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.
Motor Oil Results for 2024: Adjusted EBITDA of 995 mln€; Proposed Dividend of 1.4€ Per Share
Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year
Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.
Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses
Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.
Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February
Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.
Jerry Kalogiratos Highlights Key Role of Energy Transition and Data Demand in LNG Outlook
Energy transition and the prospects of LNG were discussed at Capital Link’s 19th Annual International Maritime Forum, during a panel discussion with Jerry Kalogiratos (Capital Clean Energy Carriers Corp.)
![ΕΛΣΤΑΤ: Αυξήθηκε η οικοδομική δραστηριότητα κατά 15,6% το Δεκέμβριο [πίνακες]](https://www.ot.gr/wp-content/uploads/2025/03/DSC9655-2-1024x569-1-90x90.jpg)
