Moscow expects a doubling or trebling of Russia's weapons sales (currently amounting to US$4 billion) in agreements with Venezuela over the next few years, according to Russian state arms exporting agency Rosoboronexport executive Serguei Ladiguin.

"We have initialed agreements for US$4 billion with Venezuela and we are to at least  double or treble this sum," Ladiguin told Russian television in a direct broadcast from Caracas, where he was taking part in Venezuela-Russia bilateral cooperation meetings.

• Ladiguin stressed that Russia and Venezuela are drafting supply agreements for warships, warplanes and helicopter gunships, as well as a wide range of weapons for the Army.

Reported by Interfax, Ladiguin reminded his audience that Moscow is actually supplying Su-30 warplanes, different types of helicopter gunships and cargo choppers, as well as Kalashnikov rifles to Venezuela and that Russia is also building three military manufacturing facilities in Venezuela ... one Kalashnikov manufacturing plant, an ammunutions factory and one helicopter maintenance and repair workshops.

Over the last few years, Venezuela has made significant weapon purchases from Russia, including 24 Su-30MK warplanes, 50 helicopter gunships and cargo choppers, Tor-M1 anti-aircraft defense systems and 100,000 Kalashnikov rifles.

Ladiguin confirmed that Rosoboronexport has an interest in consolidating its position in the Latin American marketplace.

"We do believe our company can offer a lot to Latin America, particularly in transferring certain technologies and supplying a number of equipment, not only military items."