Russian President Dmitry Medvedev (L) and his Venezuelan counterpart Hugo Chavez enter a hall at the presidential residence in Gorki outside Moscow July 22, 2008.
Photo: Reuters
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Chavez to Buy Russia’s Weapons for $5bn
The size of military and technical cooperation of Russia and Venezuela may reach $5 billion in the nearest ten years, said Ruslan Pukhov, director of the Strategies and Technologies Analysis Center.
“Irrespective of global conditions of armaments’ market, the course of Hugo Chavez towards buying Russia’s weapons will continue and [the amount] may reach $5 billion in the following ten years,” Pukhov told RIA Novosti Wednesday.
In time of future negotiations, Pukhov went on, the parties are likely to begin by deliberating on the acquisition of diesel submarines of Amur class, military transport aircraft Il-76-MDs, flying tankers Il-78s and air defense weapons and systems of S-300, Buk, Top types and their modifications.
Venezuela will be willing to attract Russia's loans, as the time when they were paying cash for Russia’s armaments is over, the expert explained, specifying that they will be buying weapons on credit, by offset, transfer of technology and production license.
According to independent analysts, the amount of military deals that Russia and Venezuela have clinched since 2005 may vary from $2 billion to 4 billion.
www.kommersant.com
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