Venezuela Offered $1Bln Loan

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Venezuela Offered $1Bln Loan

Postby deja vu on Sun Sep 28, 2008 11:28 am

MOSCOW — Russia offered Venezuela $1 billion in credit to buy weapons as Venezuelan
President Hugo Chavez visits to develop military ties amid worsening relations between
both countries and the U.S.

Russia agreed to “issue a $1 billion credit line to Venezuela for the realization of military-technical
cooperation programs,” the Kremlin said in an e-mailed statement, using a term that Russian
authorities employ to describe defense sales.
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Re: Venezuela Offered $1Bln Loan

Postby CielOnTap on Sun Sep 28, 2008 12:37 pm

Putin seems to be in his element as Prime Minister this year-hosting Chavez's visit, dealing with the Georgia issue, learning of the 33 Russian tanks in pirates' possession on a ship they hijacked. Busy times for the PM. He did have time to be at the opening of the Summer Olympic Games.

$1 billion loan is generous. Let's see how Venezuela uses it, given how Chavez is using the country's petroleum resources as leverage to tell international companies how to do business and to handle foreign policy issues.
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