Monday, September 29, 2008

Russia grants Venezuela $1B to buy arms

MOSCOW - Russia is lending one billion dollars (682 million euros) to Venezuela to buy Russian arms, the Kremlin said Thursday, ahead of a visit by Venezuelan President Hugo Chavez. "Russia has taken the decision to grant Venezuela a credit of one billion dollars for implementing programmes in the field of military-technical cooperation," it said in a statement, using diplomatic jargon for arms sales.

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