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Financial backing offered to oppose U.S. domination
Date: Sunday, January 14 2007

January 13, 2007

Financial backing offered to oppose U.S. domination


CARACAS, Venezuela (AP) - The presidents of Venezuela and Iran, whose efforts to extend their influence have alarmed officials in Washington, said Saturday they are ready to spend the equivalent of billions of dollars to help countries free themselves from U.S. domination.

The two oil-exporting countries previously announced plans for a joint fund worth the equivalent of C$2.4 billion to finance investments in Venezuela and Iran but on Saturday, Venezuelan President Hugo Chavez and Iran's Mahmoud Ahmadinejad said the money would also be used for projects in friendly third countries.

"It will permit us to underpin investments...above all in those countries whose governments are making efforts to liberate themselves from the (U.S.) imperialist yoke," said Chavez, who met with the Iranian leader in Caracas on Saturday.

"This fund, my brother," Chavez said referring to Ahmadinejad, "will become a mechanism for liberation.

"Death to U.S. imperialism!" he said.

Ahmadinejad called it a "very important" decision that would help promote "joint co-operation in third countries," especially in Latin American and African countries.

Chavez - a close ally of Cuban President Fidel Castro whom Washington sees as a destabilizing influence - has pledged the equivalent of billions of dollars worth of help to the region in foreign aid, bond-buyouts and preferentially financed oil deals.

Ahmadinejad's visit Saturday - his second to Venezuela in less than four months - comes as he seeks to break international isolation due to his country's nuclear program and possibly line up new allies in Latin America.

[Proofreader's note: this article was edited for spelling and typos on January 15, 2007]

This article comes from Vive Le Canada

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