Word: russianizing
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...look at a map to realize how far away Russia and Venezuela are from one another. Yet in these globalized times, they are bound together by their opposition to and fear of the United States. That may be the reason why there were so many photographers and journalists at Russian President Dimitry Medvedev’s recent meeting with Venezuelan President Hugo Chavez in Moscow, which was the second such negotiation in the last two months. After the meeting and in a world of frozen credit lines, it was announced that Russia would lend Venezuela over a billion dollars...
...Enter Hugo Chavez, the boastful believer in “21st century socialism” who is eager for Russian economic and military support, just as he has been in the past with Iran and Cuba. Yet in the last year, the Venezuelan president has seen his political star begin to fade: After losing a crucial referendum that would have allowed him to remain in power indefinitely last December, Chavez has attempted to distract Venezuelans’ attention from the dire economic situation at home with a lot of show abroad...
...ally Colombia over a petty issue, and cursed at the American ambassador before expelling him from the country as “retaliation” for alleged US intentions to bring down Evo Morales’s leftist government in Bolivia. Most recently, he has been all over Russian weapons and energy deals: So cheerful was he about the first joint military exercises treaty that he announced on his weekly TV show that he would fly one of the Russian jets himself...
...From an economic perspective, however, Russian problems seem miniscule compared to those faced by its newfound Latin American ally. In an electoral year, Chavez is eager to regain popular support, but the oil-producing country has contracted its growth forecasts due to lack of investment. As inflation reaches over 30 percent per year, the government has increased public sector salaries, a populist move that will only worsen inflationary pressures. Despite the sky-high oil prices, Venezuela is not able to grow its production because the government has used all the money for clientelist programs, rather than securing future investment. Unsurprisingly...
...dollars - some of it stuffed in suitcases - and deposited other sums of money in offshore accounts. Actor Nicolas Cage's character in the 2005 movie Lord of War was partly modeled on the alleged actions of Gaydamak, although the character may also have been inspired by the powerful Russian arms trader Viktor Bout, who is currently in a Thai jail awaiting the outcome of a hearing on a U.S. extradition request...