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Thursday, October 30, 2008

Gaddafi visits Russia on arms, energy drive

Libyan leader Muammar Gaddafi makes his first visit to post-Soviet Russia on Friday, seeking to deepen a budding energy and military partnership with Moscow and counterbalance his fast-expanding relations with the West.

The visit, his first to Moscow since 1985 according to Russia's Nezavisimaya Gazeta daily, is the latest step in a bold push by the former outcast state to accelerate overseas trade and investment for its booming post-sanctions economy.

Examples of that drive include a rapid expansion of a Libyan state holding in Italian bank Unicredit and a growing list of Libyan deals in Africa and Europe, including a refinery in Egypt and a wheat farming agreement in Ukraine.

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