Venezuela is the largest weapons importer in Latin America, according to the Stockholm International Peace Research Institute (SIPRI). Since 2011, the country spent some $2.6 on weapons, buying the majority of them in Russia.
Venezuela’s President Nicolas Maduro, speaks during the annual state-of-the-nation address at the National Assembly in Caracas, Venezuela, Wednesday, Jan 21, 2015
In the period from 2012 to 2015 Venezuela is expected to become the second-largest importer of Russian weapons, with sales reaching up to $3.2 billion, Igor Korotchenko, head of the Centre for Analysis of World Arms Trade, told RIA Novosti.
Venezuela and Russia’s state-run arms trader Rosobornexport signed more than 30 contracts on arms supplies in 2005-2009. Venezuela received Russian air defense systems (Antey-2500, Pechora-2M, Buk and Igla) as well as T-72M tanks, Grad and Smerch multiple rocket launcher systems, armored vehicles and artillery.