Chavez Exit No Major Threat to Russia’s Lucrative Deals
MOSCOW, January 9 (RIA Novosti) – Venezuelan leader Hugo Chavez’s failing health and possible departure from power are unlikely to pose an immediate threat to Russia’s multi-billion-dollar arms and energy contracts with his country, despite his direct personal support for the deals, Russian analysts told RIA Novosti on Wednesday.
Chavez, who is continuing his fight against cancer and hasn’t
appeared in public in about a month, asked parliament yesterday to
postpone his January 10 inauguration, citing doctors’ recommendations.
Russia has intensified cooperation with Venezuela since Chavez came
to power in 1999, signing multi-billion-dollar contracts with the Latin
American country in the arms, oil and gas spheres. The military-technology contracts, often short on publicly available
details, have been piling up in recent years. Between 2005 and 2007,
Caracas signed $4 billion worth of deals with Russia to buy Sukhoi
fighter jets, combat helicopters and small arms. Chavez’s government
also secured a $2.2-billion loan in 2010 to purchase Russian T-72 tanks
and S-300 air defense systems.
Energy deals have also enhanced bilateral ties. Major joint ventures
involve development of the Junin 6 and Junin 3 oilfields on the Orinoco
River. Junin 6 is being developed by Russia's National Oil Consortium,
which includes GazpromNeft, Lukoil, Rosneft, Surgutneftegaz and TNK-BP,
together with Venezuela's state oil and gas company, PDVSA. Junin 3 is
being developed by Lukoil...
