Venceremos! Russia and Venezuela continue cooperation in defense industry

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On Tuesday, Venezuelan ambassador to Russia, Carlos Rafael Faría Tortosa, said that Russia and Venezuela will continue to cooperate in the defense industry sector.

Tortosa also praised Venezuela’s move to buy military equipment, failing to buy US equipment in favor of Russian equipment.

“We have a fruitful cooperation with Russia in many areas, one of which is military cooperation, which was born in the days of Commander Hugo Chavez, when he predicted that it was necessary to change the suppliers of technology and we moved from US equipment to Russia,” Tortosa told reporters at a meeting in Russia’s Foreign Ministry.

“I believe we can now confirm that it was a very smart decision. This cooperation will continue,” he said.

Venezuelan Foreign Minister Jorge Arreaza said in March that the cooperation of the defense industry with Russia was very important for Caracas.

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According to Anatoly Punchuk, deputy director of the Federal Service for Military Technical Cooperation of Russia, Venezuela is currently one of the largest Russian military equipment operators in Latin America and its armed forces are equipped with the most modern Russian weapons, including aircraft, helicopters, air defense systems and armored vehicles.

Meanwhile, the Venezuelan Central Bank and the Superintendency of Banking Institutions (SUDEBAN) announced that banks should develop their own financial operations system and waive agreements with the VISA, MasterCard and Maestro systems until January 30 .

According to the portal Banca y Negocios , until November 30, operations with debit cards of these systems must be stopped and, until January 30 of next year.

SUDEBAN commissioned the country’s banking institutions to create an independent payment system, taking into account recent US sanctions and new threats. Banks must develop a sovereign system for processing banking operations using the biometric identification of customers.

However, experts questioned by the portal Banca y Negocios consider that the creation of this type of system in such a short time is unlikely.

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