Duma ratifies the agreement Russian-Venezuelan of protection of investments

07:02 A.M. Moscow. - The Duma of the State or House of Representatives of Russia ratified the governmental agreement today Russian-Venezuelan of stimulus and protection of investments signed in Caracas the 7 of November of 2008.

The document indicates that the parts must guarantee the total defense of the capital investments and create the conditions necessary to favor them.

In case of nationalization or expropriation, the compensations will be pleased according to the value of market of the investments that are affected by these measures, emphasized Efe.

The agreement Russian-Venezuelan will have vigor during ten years and will be prolonged of automatic way per periods of other five if no of the parts expresses their will to denounce it.

The week last, during a visit of work of the president of Venezuela, Hugo Chavez, to Moscow was signed several memorandos of intentions and understanding between Russian companies and state Petróleos de Venezuela S.A. (Pdvsa).

All those documents aim at the joint operation, Russian-Venezuelan, of the strip of the Orinoco, with reserves considered in 235.000 million heavy and super barrels of crude heavy.