Venezuela Needs New Weapons - Hugo Chavez

 

Venezuelan President Hugo Chavez said his country needs substantial modernization of defense and security infrastructure to properly protect the deposits of natural resources.
According to the president, to date, the amount of proven oil reserves of Venezuela is about 300 billion barrels.

 

Statement made on 20 March, coinciding with the delivery of another batch of weapons from Russia, including tanks T-72M1, MLRS BM-30 "Twister" as well as shore-based missile complex "Bal-E" and ADMS.

 

As the "Jane's Defence Weekly," Venezuela is likely to have received the missile, "Bal-E" and S-300B.

 

According to Chavez, Venezuela has since 2002 bought Russian weapons amounting to 11 billion dollars (meaning already implemented supply contracts and projects under execution).