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November 1, 2015

Venezuela allocates $480m to buy Sukhoi aircraft from Russia

Venezuela has reportedly allocated $480m for its Sukhoi aircraft programme, moving a step ahead to strengthen the country's airspace.

By Samseer M

Venezuela has reportedly allocated $480m for its Sukhoi aircraft programme, moving a step ahead to strengthen the country’s airspace.

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In September, Venezuela president Nicolas Maduro announced that the country will buy at least 12 new Su-30MK2 fighters for its armed forces from Russia.

Venezuelan Defence Minister Vladimir Padrino Lopez was quoted by Tass-Defense as saying that the new programme is part of "the continuous strengthening of the republic’s defensive capability along with redoubled efforts to improve public health and education."

"Despite a global oil price slump and the economic war being waged on this country, the president realises the necessity for the armed forces to have what they need."

Lopez further said: "Despite a global oil price slump and the economic war being waged on this country, the president realises the necessity for the armed forces to have what they need to have to accomplish the mission assigned by the constitution."

The defence minister also added that the new Sukhoi aircraft will expand the 23-aircraft fleet that currently in service with the country’s force.

According to the Centre for Analysis of World Arms Trade, Venezuela is expected to become the second largest importer of Russian weapons and military equipment between 2012 and 2015, Sputnik News reported.

Powered by two AL-31F turbofan engines, the Su-30MK2 is an upgraded version of the Su-30 fighter, and is designed to conduct air-to-air and air-to-surface deep interdiction missions in all-weather conditions.

Equipped with an improved fire-control system and an air-to-air and air-to-surface weapon suite, the aircraft can also be used for pilot training missions.

The aircraft also features an improved fire-control system that enables enhanced surface-target detection capabilities and an air-to-air and air-to-surface weapon suite, with the ordnance mounted on 12 hardpoints.

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Latest Updates on the Ukraine/Russia Crisis

Whilst at its core a humanitarian crisis, the Russian invasion of Ukraine risks adding materially to existing global economic and supply challenges. We are likely heading into a period in which geopolitics will become a regular part of boardroom discussions. Recent developments have seen Russian companies make significant progress around the world to supply countries with equipment in various Aerospace, Defense & Security sectors. This means that countries dependent on Russian arms for their security calculations should review all purchases and clauses regarding their programs and payments. Download GlobalData’s 5th Ukraine Conflict Executive Briefing to learn more. This report is part of a continued series that is renewed monthly with the latest data and analysis, as the conflict develops and has wider implications across sectors. Access the latest macro-economic forecasts, charts with the latest data, and our updated sanctions tracker, as well as our updated sector scorecards to reflect the current views on the impact of the crisis at a company level.
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