Russia invests $5.4B in Venezuelan arms buildup

Chavez is purchasing Russia's short-range but highly advanced TOR-M1 air defense systemsVenezuela has bought $4.4 billion worth of weapons from Russia over the past four years. And despite the collapsing global price of oil, Venezuela's weapons planning top general has announced it is going to buy lots more.

"We will continue buying weaponry in Russia, China and Belarus in future years to ensure the defense of our territory and oil reserves from countries like the United States," Gen. Jesus Gonzalez, director of weapons purchases for the Venezuelan armed forces, said during a visit to Mexico last week, RIA Novosti reported Friday.

Gonzalez claimed the enormous arms buildup, which would make Venezuela by far the most powerful military power in Latin America and the Caribbean, and a potential threat to its neighbors, was essential because the country faced the threat of a U.S. invasion.

Read more (free subscription required)