OREANDA-NEWS Venezuela and Russia signed a number of contracts worth several billion dollars during the visit of a delegation headed by President Nicolas Maduro to Moscow. The leader of the Bolivarian Republic reported this information on Thursday in a short video, which was published on his official Twitter page.

"Today, contracts have been signed to guarantee investments of more than $5 billion to increase oil production, with our Russian partners in joint ventures," Maduro said. "In addition, we guarantee investments of more than $1 billion in the mining industry, mainly in gold mining."

In addition, agreements were signed on the supply of Russian wheat and maintenance of weapons of the South American country, Maduro added.

"We... we signed a contract to ensure the supply of wheat, 600 thousand tons for the Venezuelan people," Maduro said, adding that "2019 and further" deliveries are guaranteed. "In addition, a contract was signed for the support, maintenance and repair of weapons systems of the Bolivarian Republic of Venezuela," he said.

The South American leader thanked his Russian counterpart Vladimir Putin and the people of Russia. Maduro added that in March 2019, Moscow will host a meeting of the joint Commission.

"Since commander Hugo Chavez's first visit to Russia, we have always been able to count on the people and government of Russia," Maduro wrote. "On behalf of Venezuela, we thank you for your unconditional support and assistance for the benefit of our sovereignty."

Maduro is confident that his visit to Russia will strengthen the position of the South American country in the future.

"I would say that this visit... allows us to take a favorable position in order to fight for the stability and development of the country, the well-being of Venezuela in 2019-2025, - said Maduro." This visit allows us to strengthen not only friendship, but also deep trust with President Vladimir Putin, with the entire team of his government, as well as with the Russian business community and the people of Russia."

Russia and Venezuela are implementing joint investment projects in energy, agriculture, geological exploration, pharmaceuticals, information and communication technologies, nuclear medicine, military technology and other areas.