Russia, Venezuela to set up 4-bln dollar bank

CARACAS. December 25. KAZINFORM Russia and Venezuela will set up in early 2010 a joint bank with an authorized capital of four billion dollars, according to Venezuela's Economy and Finance Minister Ali Rodriguez; Kazinform refers to ITAR-TASS.
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The bank will finance bilateral trade and economic projects, the minister told Tass on Thursday.

The major energy project is the Junin-6 bloc in the Orinoco River belt where a Russian-Venezuelan joint venture plans to daily produce 450 thousand barrels of heavy and extra heavy oil; Kazinform cites ITAR-TASS.

See www.itar-tass.com for full version

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