Russia Flexes Muscles in Oil Deal With Chávez - by Ellen Barry
Russia continued its international muscle-flexing on Friday, strengthening its ties to Venezuela through a $1 billion military loan and a new oil consortium as it announced an upgrade of its own military focusing on nuclear deterrence and permanent combat readiness.After a military exercise on Friday in the southern city of Orenburg, near the border with Kazakhstan, the Russian president, Dmitri A. Medvedev, declared that by 2020 Russia would construct new types of warships, including nuclear submarines carrying cruise missiles and an unspecified air and space defense system.On Friday, Mr. Medvedev said the conflict also proved “the acuteness” of Russia’s need to modernize its military. Defense spending will increase by 26 percent next year, bringing it to 1.3 trillion rubles ( EURO 35 billion), its highest level since the collapse of the Soviet Union.
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