Venezuelan President Hugo Chavez may spend up to a billion dollars on Russian weapons in a

trip to Moscow next week, said a Russian military-industrial source cited by newsagency Interfax Saturday.

Chavez's shopping list could include three "Varshavianka" class electric-diesel submarines and 20 Tor-M1 ground-to-air missile systems worth around a billion dollars (630 million euros), the source added.

"During the visit several contracts are likely to be signed for the delivery of arms and military technology to Caracas," the source told Interfax.

"For a number of military contracts, all the details have already been settled, they are ready to sign."

Between now and 2012, the source added, Venezuela could spend up to US$30 billion on modernising its armed sources.

Venezuela also had its eye on six conventional submarines and several dozen surface vessels of various categories, the source said.

Russia has suggested selling patrol boats, hovercraft for troop landings and coastal missile systems with a range of up to 130 kilometres (80 miles).

"It's also expected that contracts will be sealed for the installation of technical centres in Venezuela and armament maintenance," the source said.

Venezuela is also discussing buying up to 20 patrol aircraft based on the Ilyushin Il-114.

Chavez has already ordered several of the latest generation of Mi-28N combat helicopters, due for delivery in the second half of 2009.

Venezuela is already a significant military client of Russia, having bought US$3.5 billion of equipment, including 24 Sukhoi fighter jets, 50 helicopters and 100,000 Kalashnikov assault rifles in a deal frowned upon by Washington.

Chavez is a frequent visitor to Moscow, having been there in June 2007 and July 2006, and a vocal supporter of Russia's return to military might as a counterweight to what he calls U.S. "imperialism."

Great, just what we need, a nut case with a modern army O_O

hey i agree with hugo, bush is satin.

It is a small country compared to the US so it is absolutely no threat to the US security .

I think Hugo is crazier than Bush. I mean the King of Spain told the man to STFU in public because he was being an a-hole. At least Bush hides behind diplomacy and tries to act like a normal person O_O

yes Hugo just has oil. and just playing with bush. but i have to say the weapon he is buying could move him up in the world stage.