Putin to meet with Chaves and Morales

Blog #8

Russian prime minister Vladimir Putin is heading off this week to meet with Venezuelan President Hugo Chavez and Bolivian President Evo Morales. The will meet in Caracas that would focus on energy, agriculture and defense. Venezuelan is the top exporter of oil in South America
and now is seeking funds and technology to help develop its oil deposits and even seeking loans to buy Russian military hardware. In September, Chavez traveled to Moscow to receive 2 billion dollars in loans for weaponry. U.S. Secretary of State, Hilary Clinton, expressed deep concern over the purchase of weaponry that could cause an arms race in that region. Russia has its own interests too. Valery Neserov, analyst Troika Dialog brokerage, said "In Venezuela the geology is good, reserves are great. From that of view, the conditions are ideal there, though this does not, of course, remove concerns about political risk." Since he said in Russia private firms are struggling to expand because the limited access to big deposits and taxed uncertainty.

http://www.reuters.com/article/idUSTRE62U3CX20100331?feedType=RSS&feedName+topNEws