Russian international reserves up $10 bln in week

Russia’s gold and foreign currency reserves increased by $10 billion, to $588.3 billion, in the week of July 11 – July 18, the Central Bank of Russia said Thursday.

Political implications of Russian-Venezuelan oil agreements

RIA Novosti political commentator Oleg Mityayev

http://en.rian.ru

Many analysts expected Venezuelan President Hugo Chavez, who visited Moscow on July 22, to sign new agreements in military-technical cooperation, but this did not happen.

Instead, a number of Russian oil giants signed promising contracts with Venezuela. They would replace their American counterparts, previously ousted by Hugo Chavez.

Although the flamboyant Venezuelan president has visited Russia more than once since he was elected in 1999, bilateral cooperation was primarily limited to the sale of Russian weapons to Venezuela.

Last June, Prime Minister Vladimir Putin complained that mutual investment was inadequate and urged a broader partnership with Venezuela in the oil-and-gas industry as well as other spheres.

Moscow must answer U.S. shield with Cuban ’spy’ site – analyst

Russia should respond to U.S. missile defense plans for Central Europe by reopening a ’spy’ facility in Cuba to gather intelligence on the United States, a Russian analyst said on Wednesday.

The electronic monitoring and surveillance facility near Havana at Torrens, also known as the Lourdes facility, the largest Russian Sigint site abroad, was shut down in October 2001 by then- president Vladimir Putin.

“Cuba is a unique place to gather intelligence on the United States. I believe that the reopening of this station is both possible and necessary amid the threat that the Americans are creating for Russia,” Alexander Pikayev, head of the disarmament and conflict resolution department at the Russian Academy of Sciences’ World Economics and International Relations Institute, told a news conference at RIA Novosti.

Venezuela may spend $5 bln on Russian arms in next decade

Venezuela may purchase weaponry from Russia worth $5 billion over the next 10 years, a Russian political analyst said on Wednesday.

During his official visit to Russia on Tuesday, Venezuelan President Hugo Chavez and the Russian leadership reaffirmed their mutual drive to strengthen bilateral defense cooperation.

“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,” said Ruslan Pukhov, director of the Center for Analysis of Strategies and Technologies.

Venezuela to buy more weaponry from Russia

Venezuela may purchase man-portable air defense systems, Il-76 transport planes and T-90 tanks from Russian in the near future, a Russian political analyst said Thursday.

According to unofficial reports, Russia and Venezuela signed a new framework agreement Wednesday on delivery of Russian air defense systems, tanks and military transport planes to the Latin American country.

“The new agreement, most likely, involves purchases of Igla man-portable air defense systems, Il-76MD military transport planes and T-90 main battle tanks,” said Ruslan Pukhov, director of the Center for Analysis of Strategies and Technologies.

Pukhov has estimated that Venezuela could spend $5 billion or more over the next 10 years on Russian military equipment.