An Early Winner of Russia’s Invasion: Israel’s Defense Industry

The war in Ukraine caused Germany to double its defense budget, and sent other European countries scrambling for weapons ■ The big victor is Elbit Systems – whose shares soared by 18% in two days

Yoram Gabison
Yoram Gabison
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Yoram Gabison
Yoram Gabison

When Donald Trump was U.S. president, he repeatedly attacked members of NATO for their low investment in defense budgets. He claimed that Europe was imposing the financial burden of its defense on the United States, and demanded that NATO countries increase their defense budgets to at least 2 percent of GDP. The countries of Europe listened politely but dragged their feet. But what Trump was unable to do is now being done by Russian President Vladimir Putin, the man Trump described as a genius.

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