A street in northern Moscow has been named after late Venezuelan President Hugo Chavez, a close ally of Russia during his 14 years in power.
The naming ceremony Tuesday was attended by current Venezuelan President Nicolas Maduro and Rosneft head Igor Sechin. The same day, it was announced that the Russian state-owned oil firm had signed an agreement to help develop extensive offshore deposits in South America.
Also on Tuesday, Gazprombank, affiliated with energy giant Gazprom, said it had signed a deal with Venezuelan national oil firm Petroleos de Venezuela to invest $1 billion in their joint venture, PetroSamora.
Speaking at the naming ceremony, Venezuelan President Maduro said Chavez had visited the Russian capital at least 10 times. "He never felt like a stranger in Moscow. I thank you for this gift," said Maduro, who arrived in Moscow on Monday for a two-day visit.
Sechin, who paid numerous visits to Caracas during Chavez's time in power, evidently had a strong relationship with the Venezuelan leader, appearing frequently in photographs with him smiling widely.
Chavez died on March 5 at the age of 58 after a two-year fight with cancer.
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