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Chavez vows to broaden Russian investment
Mansur Mirovalev Associated Press Writer
Venezuelan President Hugo Chavez called on Russian business leaders June 29 to boost their energy investment in his country, calling U.S. companies “vampires” and U.S. President George W. Bush a devil, a donkey and a drunkard. Chavez, a firebrand leader and vehement U.S. critic, also reportedly confirmed that his country would be negotiating with Russia to purchase submarines.
At a meeting with Russian lawmakers, Chavez again suggested that the United States had threatened Venezuela and was categorically opposed to Venezuela’s buying submarines.
Chavez arrived in Moscow June 27. Russia President Vladimir Putin said the weapons trade was among the topics of June 28 talks with Chavez.
Innokenty Naletov with the Russian arms sales monopoly Rosoboronexport said the sides were in talks on the possible purchase of five Project 636 Kilo-class diesel submarines, according to a RIA-Novosti news report. He said there were also talks on supplies of military equipment for ground and air forces.
Venezuela has purchased Russian arms Caracas already has purchased some $3 billion worth of arms from Russia, including 53 military helicopters, 100,000 Kalashnikov rifles, 24 SU-30 Sukhoi fighter jets and other weapons.
Chavez told Russian business leaders that he expects development of a “road map” that will boost and diversify Russian-Venezuelan business ties — especially in the energy sector, including construction of a natural gas pipeline and oil refineries.
Chavez said that at a June 28 dinner with Putin the two leaders agreed to create a fund to support joint projects. With Russia’s help, Venezuela is ready to build four oil refineries and plans another 13, he said. He also invited Russian oil companies to help develop the Orinoco River basin, which is thought to hold 1.2 trillion barrels of extra-heavy crude.
U.S. giants Exxon Mobil Corp. and ConocoPhillips refused to sign deals to keep pumping heavy oil under tougher terms in the basin, signaling their departure from the deposit as Chavez tightens state control over the oil industry. Other major oil companies Chevron Corp., Britain’s BP PLC, France’s Total SA and Norway’s Statoil ASA accepted the terms, taking new minority stakes.
Chavez urged Russian companies to invest in construction of a 5,000-mile natural gas pipeline to Argentina, retrofit Venezuela’s dilapidated seaports, and develop its gold mining and chemical and industries.
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