Venezuela to buy Russian submarines

According to the Russian media, the governments of that country and Venezuela brokered a $2 billion submarine deal. The deal- as originally reported by Kommersant and corroborated by a source to RIA Novotsi- would be finalized in time for Hugo Chavez’ diplomatic visit to Moscow later this month but before Vladimir Putin’s visit to the U.S. in July.

Russia has emerged as a major arms dealer not only to Venezuela but to the rest of Latin America; it is the concern over increased “militarization” of the region which led Foreign Policy to deem it one of the most underreported stories of 2006.

Image- People’s Daily Online (Hugo Chavez and Vladimir Putin meeting in 2006)

Sources- Kommersant, RIA Novotsi, International Herald Tribune, The Latin Americanist, Guardian UK