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Friday, August 26, 2011

Russia ready to help Venezuela with weaponry purchases

S-300PMU2 FavoriteMoscow is ready to loan Venezuela $4 billion on purchases of military equipment, Russia's Kommersant newspaper said on Friday citing a diplomatic source.

"Russia is ready to loan money to Venezuela," the source said. "Considering the current election campaign in the country, this loan would mean the opportunity to support our key ally in the region."

Venezuelan Minister of Finance and Planning Jorge Giordani is expected to visit Russia in the near future to discuss the conditions of the loan with Russian officials.

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