Russia and Venezuela sign big nuclear deal coinciding with joint naval exercises

AFP reports that President Medvedev and Hugo Chavez have signed a nuclear “cooperation accord” for Russia to help Venezuela in building a nuclear plant.

This is an expansion of what has already been a profitable alliance between the two countries since 2006, as Russia has been a major supplier arms to Venezuela, including fighter jets and legion-numbers of Kalashnikov rifles. The deal coincides with pending joint Russo-Venezuelan naval exercises in the Caribbean.

Among other things, the deal also extends to allowing further Russian exploration for fossil fuels in Venezuela as well as industrial cooperation and relaxed immigration requirements for each country’s citizens.

Further partnerships between the two countries seem to be in store for the future, with both Presidents “vow(ing) to work together to establish what they called a “multi-polar” world and agree(ing) to continue arms deals between the two countries.”

Via globalsecurity.org, al Jazeera, and the UK Telegraph.

This observer is prompted to enquire why a South American country awash in one of the world’s biggest oil reserves needs nuclear power? A nuclear program for military purposes isn’t likely to be successful. Is Chavez jostling for a prime post position in some race for future Latin American nuclear industry?