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1/29/13

Russia: Sechin to Visit Venezuela Amid Speculation About Chavez's Health

Rosneft CEO Igor Sechin is expected to visit Venezuela on Wednesday in a mission that might be used to secure the company's oil contracts in the country, with Sechin being one of Russia's most powerful officials and a leading advocate of economic ties with Venezuela.

The visit, confirmed by a Rosneft spokeswoman, comes at a difficult time for the country, amid speculation that the country's maverick leader, Hugo Chavez, who is sick with cancer, might soon die or step down as president.

But Vladimir Semago, a former United Russia deputy and a deputy head of the Russian-Venezuelan Business Council, is skeptical about the visit's prospects. "When you spend so much money for nothing, this money starts to work against your own interests. It has nothing to do with economics," he said.

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