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Venezuela signs oil, gold investment deals with Russia

Last update: 07/12/2018
CARACAS, Dec 7 (BERNAMA-NNN-AGENCIES) -- Venezuela has signed deals securing investment from Russia in the South American country's oil and gold sectors, President Nicolas Maduro said at the end of a three-day trip to Moscow.

"We have signed contracts to guarantee investments of more than US$5 billion with our Russian partners in joint ventures to raise oil production," Maduro said in a video posted on his Twitter account.

"We are also guaranteeing an investment of US$1 billion for mining, mostly in gold."

Maduro did not provide specifics about where the investments would be made or how much money Russian companies would contribute. Venezuela's Information and Oil Ministries did not immediately respond to requests for additional details.


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