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Sunday, July 20, 2008

Chavez eyes major arms purchases in Russia

Venezuelan President Hugo Chavez may spend up to a billion dollars on Russian weapons in a trip to Moscow next week, said a Russian military-industrial source cited by news agency Interfax on Saturday.

Chavez's shopping list could include three "Varshavianka" class electric-diesel submarines and 20 Tor-M1 ground-to-air missile systems worth around a billion dollars (630 million euros), the source added.

"During the visit several contracts are likely to be signed for the delivery of arms and military technology to Caracas," the source told Interfax.

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