11/23/2023 0 Comments Simon bolivar revolutionThe growing relationship between the two countries unnerved Washington. Russia's well known Tu-160 strategic bomber jets landed in Venezuela in 20. The two countries also held joint military exercises in South America and the Atlantic ocean. He also signed a cooperation agreement with Russia in the fields of oil and gas. ![]() In 2006, Chavez signed a $3 billion arms deal with Russia that included the purchase of fighter jets and helicopters in order to modernise its army. ![]() The report also alleged Chavez had collaborated with global leaders from outside the region such as Russia. Washington has had an acrimonious relationship with Caracas for years, especially following US support for a short-lived 2002 coup against Chavez.Īccording to a report published by the US Army University Press: “Chavez’s plan was characterised by a hostile and confrontational posture toward the United States.” The US saw him as a threat to American interests. In August 2008, Chavez announced plans to nationalise one of the country's largest private banks, the Spanish-owned Bank of Venezuela.Ĭhavez’s stand was always at odds with the US and its policies. However, the Venezuelan government later expropriated them. Two leading US oil companies, Exxon Mobil and ConocoPhilips, refused to hand over their controlled areas in the Orinoco Belt to the Venezuelan government. He first introduced a nationalisation programme in 2007 and saw his act approved by parliament. In 2006, he won the presidential election for the third time with 63 percent of the vote, a record not seen since the 1947 election.Īnother important policy of late president Hugo Chavez was the nationalisation of key companies in energy and telecommunications. ![]() Landlords criticised him for attacking private property. ![]() In this era, Chavez engaged in door-to-door anti-poverty activities that include food distribution, a vaccination campaign and increasing education in slum areas.įrom the start of 2005, Chavez actualised land reform to eliminate large estates in favour of the rural poor. He tried to concentrate political and economic power on the state, much as Cuba did. In 2001, Chavez passed 49 laws that aimed to redistribute land and wealth from the rich or private companies to poor citizens. The founder of the fifth republic movement and the United Socialist Party (PSUV), Chavez followed the revolutionary spirit of 19th-century Venezuelan leader Simon Bolivar, who fought against Spanish colonialism.Īccording to Chavez, the Bolivarian ideology encouraged nationalism and a state-led economy in South America.Īfter Chavez was elected as the president of Venezuela, he immediately introduced a new constitution that espoused a socialist economy and social policies, funded by the country's oil revenue. Venezuela entered a new political era when the late president Hugo Chavez came into power in 1998, a historic political event that became known as the Bolivarian Revolution.
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