Venezuela’s Arms Purchases Could Hit $5bn: Analyst
Venezuela could buy as much as $5 billion worth of Russian arms over the coming decade, according to comments made by a political analyst in Russia on July 23rd.
On the previous day, Hugo Chavez, President of Venezuela, was in Russia. Here, he and Russia’s leaders consolidated a shared goal to set up stronger mutual defence ties.
"Regardless of the situation on global arms markets, Venezuela under Hugo Chavez will continue to buy Russian weaponry, and may spend $5 billion or more over the next 10 years on imports of Russian military equipment", Center for Analysis of Strategies and Technologies director, Ruslan Pukhov, said yesterday.
Attack Helicopters, Combat Jets, Missile Defence, Rifles
Two/ three years ago, the Venezuelan armed forces acquired 50 attack helicopters, 24 Sukhoi Su-30MK2 combat jets, a number of missile defence systems and thousands of AK-103 rifles – all from Russia.
Present deals between the two countries have a combined value of around $4 billion, analysts have said.
According to Pukhov, Russia represents the sole nation providing an array of arms to Venezuela.
Explaining some of the global restrictions dictating this situation, he said: "The European market is inaccessible to Caracas because of its high prices, and restrictions imposed by the U.S. on arms exports to Venezuela."
On the subject of payment, he added: "It is clear that cash payments for Russian weaponry sales to Venezuela are a thing of the past.
“Future purchases will be made through loans...technology transfers, and production licenses."
Future Arms Purchases
Looking forward, it is possible that Venezuela will acquire Russian-built Ilyushin IL-78 air refuellers and IL-76 transporters made by the same firm, as well as further missile defences.
On July 22nd, Chavez addressed the speculative issue of Venezuela spending as much as $30 billion on Russian arms.
“I do not know where these figures are coming from: $30 billion in four years?”, he said.
“The amounts [in contracts] differ, it is a dynamic process”, he advised representatives of the media.
Source – Armed Forces International’s East European Correspondent
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