Russian ships to Venezuela in show of power

The voyage of the cruiser Peter the Great, scheduled to arrive in Venezuela next week with a squadron of other Russian warships, was meant to showcase the Kremlin's ability to project naval power abroad and reassert its claim to great power status.

But the arrival of the 24,000-ton nuclear-powered vessel and its escorts may mark the end of an era of rising ambitions for the Russian navy, not its beginning.

Russia's plans to conduct exercises in the Carribean for the first time since the Cold War were made before the global financial crisis mauled the country's energy-based economy. Plunging oil prices, some believe, could end Moscow's aspirations for a stronger presence in the Western Hemisphere.

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