What's Happening?
Italy has agreed to sell two Fremm-class frigates to Greece, marking a significant development in naval export sales. The frigates, named Bergamini and Fasan, are currently in service with the Italian navy and were built by the Italian state shipyard Fincantieri. The sale includes a support package managed by Fincantieri, with each vessel priced at €300 million ($352 million). This transaction is part of Italy's strategy to offer quick delivery of military vessels, responding to Greece's need to address rising military tensions in the Mediterranean, particularly with Turkey. The deal follows similar sales to Indonesia and Egypt, where Italy expedited delivery by offering vessels already under construction for its own navy.
Why It's Important?
The sale of these frigates to Greece is crucial for enhancing Greece's naval capabilities amidst increasing regional tensions. It allows Greece to quickly bolster its military presence in the Mediterranean, a region marked by geopolitical rivalries, especially with Turkey. For Italy, this transaction not only generates revenue but also enables the Italian navy to upgrade its fleet by ordering newer, advanced frigates to replace the sold vessels. This strategic move highlights Italy's role as a key player in the global naval market, providing rapid solutions to countries seeking to strengthen their maritime defenses.
What's Next?
Following the sale, Italy plans to order two upgraded FREMM 'Evo' frigates to fill the gap left in its fleet. This move ensures that Italy maintains its naval strength while continuing to capitalize on export opportunities. Greece, on the other hand, will likely focus on integrating these frigates into its naval operations to enhance its defense capabilities against regional threats. The transaction may also influence other countries in the region to seek similar rapid military enhancements, potentially leading to further naval sales and strategic partnerships.
