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Chavez's government has nationalized hundreds of businesses including cement makers, retail stores and steel mills as part of his drive to establish a socialist economic model in Venezuela. Authorities have also seized large swaths of agricultural land deemed idle by officials, turning parcels over to poor peasants. Chavez spoke before meeting with Russia's Deputy Prime Minister Igor Sechin at the presidential palace. They discussed military cooperation and bilateral projects, including the creation of a $4 billion joint development bank that would be used to finance construction of housing and a natural gas pipeline in Venezuela.
[Associated
Press;
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