Venezuela To Buy Russian Subs
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Russia reportedly plans to offer an $800 million loan to Venezuela to help Caracas purchase four Russian diesel-electric submarines.
The deal is expected to be closed during Venezuelan President Hugo Chavez’ visit to Russia to attend the inauguration of president-elect Dmitry Medvedev May 7, the Russian business daily Kommersant reported.
Dmitry Pankin, a Russian deputy finance minister, has confirmed the $1 billion deal without disclosing any details, Kommersant said.
The Kilo-class Project 636 submarines are mainly intended for anti-shipping and anti-submarine operations in relatively shallow waters.
Caracas is also in talks with Moscow to buy 12 Il-76 military transport aircraft for the Venezuelan air force, the business daily added.
Venezuela, the fourth largest arms buyer from Russia after China, India and Algeria, has so far purchased some $3 billion worth of arms from Russia, including military helicopters, Kalashnikovs and Sukhoi fighter jets.
(Press TV)
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