×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Chavez Asks Russia for $4Bln

Venezuela expects to receive a second loan of $4 billion from Russia to keep modernizing the South American country's armed forces, President Hugo Chavez said.

Last year, Chavez said Russia had given Venezuela a similar $4 billion loan to buy weapons.

Since 2005, Chavez's government has bought at least $5 billion worth of Russian Sukhoi jet fighters, Mi-17 helicopters and Kalashnikov assault rifles.

Chavez also said Wednesday that he would put the industry under state control, partly to boost the country's international gold reserves.

Toronto-listed miner Rusoro, owned by Russia's Agapov family, appeared unfazed on Thursday by Chavez's move to nationalize Venezuela's gold industry, saying it believed that the decision only targeted illegal miners.

Rusoro, the only big gold miner operating in Venezuela, said it had received no word from the government about the nationalization plans. It said it continued to produce gold from two projects and was developing two others.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more