Greece buys three new warships yet to be built from France. This was announced by Greek Prime Minister Kyriakos Mitsotakis on Tuesday during a press conference in Paris, Reuters news agency reported. The transaction value is approximately 3 billion euros. For France, the sale of the ships represents a small financial gain after a previously failed military deal with Australia.

The agreement, signed by Mitsotakis and French President Emmanuel Macron, is aimed in part at strengthening European military cooperation. France, in particular, is pushing for more cooperation in order to improve Europe’s attitude toward the United States and China. According to Macron, the deal contributes to European peace and security, among other things, and Mitsotakis says the deal will “connect the countries for decades.” He spoke of a “historic day for Greece and France.” The contract states that Greece may buy a fourth ship from France.

The €3 billion deal dwindles to the €56 billion represented by France and Australia agreed To buy a dozen submarines. The Australian government canceled this deal earlier this month, unexpectedly for France, due to the Aukus agreement with the United States. Part of this agreement is that Australia will have a fleet of at least eight nuclear-powered submarines. In France, the deal was called the “Contract of the Century”. According to French Foreign Minister Jean-Yves Le Drian, France was “stabbed in the back”.

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