President Hugo Chavez of Venezuela signed a multi-billion dollar arms deal with Russia to buy fighter planes and helicopters.

Chavez began the third day of his visit to Russia in Moscow's Library of Foreign Literature, unveiling a statue to honour Simon Bolivar, one of South America’s greatest generals. “Simon Bolivar is called the Liberator in Venezuela,“ Chavez said. ”His victories over the Spaniards won independence for many countries in South America. He is a hero in my country and I’m happy that Moscow now has this bust,” said Chavez.

This was his fourth visit to Russia and this time – as he told head of state Vladimir Putin – he reckoned to have sensed the soul of the Russians, drinking milk in Volgograd, touring Kalashnikov weapons plant at Izhevsk and taking a vodka shot with Cossacks in their traditional way.

Chavez continues his world tour in Iran, meeting President Mahmoud Ahmadinejad.