OK, here is a highlighted list in this article of basically things agreed/understanding between VZ and Russia. NO where and I mean NO where do I see the words contract. To me everything going on this week is all political posturing between two countries and as I read in another article today that was FROM Russia it stated that all this relationship is so far is a paper trail. Nothing has been signed into a contract to be done.....soooo where does this put KRY. IMO same place they were last week...just waiting for the permit.

Venezuela and Russia will create a binational bank to strengthen integration
Written by Editorial
Saturday, 08 November 2008
Caracas .- The creation of a bank, to be born with an initial contribution of $ 4 billion, was agreed between Venezuela and Russia, after the High-Level Commission which culminated with 15 agreements for projects that also include the installation of an automobile, mining and joint production of ceramics.
At the end of the V High-Level Intergovernmental Commission of Venezuela and Russia also signed agreements in areas such as energy, investment, shipbuilding and food, among others, says a note from the Presidential Press.

Like an agreement was signed for the promotion and protection of investments and a memorandum of understanding to initiate feasibility studies for building a factory vehicle.

In education reached a memorandum of understanding for the development of relations between institutions of higher learning Russian and Venezuelan, as well as exchange of teachers, students and scientists for conducting scientific and educational activities in areas of common interest.

Others were signed three letters of intent, one for cooperation in food security and sovereignty.

Another between the National Power Corporation and the Russian company Inter Roa, to identify and define potential projects to develop the national electricity sector, in particular the provision of electricity generating projects using petroleum coke as a primary energy, especially coming from the Orinoco Oil Belt .

A final letter of intent was established to study the technical feasibility, economic, financial and technological development in the gold sector.

It also will promote the establishment of several joint ventures, one for the recovery of oil in trenches sky to open and another for the creation of a joint venture for the construction of an integrated industrial complex that will include the joint exploitation of bauxite mines, an alumina plant and aluminum.

It also would create a mining company Venrus, C. A., for the exploration, exploitation, processing, storage and marketing of gold, as well as the development and transfer of technologies in the area of mining, construction of facilities and construction of processing plants for gold.

One of the aspects highlighted by President Hugo Chávez during the celebration of the signing of agreements, was the signing of cooperation instrument which will allow the development of an industrial complex for the production of ceramics and related products, called Cinproca.

The president also said the clear intention of seeking mechanisms for cooperation in the area of shipbuilding industry, and to evaluate a proposal for the manufacturing plant for equipment and supplies intended for naval and maritime sector and technology transfer in construction, alteration and drainage Ships. (ABN)

http://nuevaprensa.com.ve/content/vi...