PUTIN PAYBACK: Venezuela to home Russian warships after Kremlin rescues it from bankruptcy

The Kremlin chief came to Venezuela’s rescue this week by agreeing to restructure £2.27bn of the crisis-hit country’s debt to Moscow.

And according to Russian media, Mr Putin is now looking to strike a deal to keep Russia’s warships at ports in Venezuela.

Under the proposed payback agreement, the vessels would be kept in the socialist state for up to 15 days at a time.

The alliance would likely infuriate the United States, which has recently imposed harsh economic sanctions on Venezuela.

Mr Trump’s administration has branded his counterpart Nicolas Maduro a “dictator” and called for the end of his “illegitimate rule”.

Venezuela’s overall debt is estimated at £90bn – the legacy of disastrous hard-left economic policies under Hugo Chavez and successor Mr Maduro.

But Russia‘s assistance is expected to ease the financial burden and shore up Mr Maduro’s position.

Risa Grais-Targow, from political risk firm Eurasia Group, said: “Clearly the Venezuelans have been looking for relief anywhere they can get it.

“And at this point Russia is their most viable source of financing.

“The Venezuelans have been pushing very hard on the Russians.”

Anton Siluanov, Moscow’s Finance Minister, said earlier this week: “We have an agreement on debt restructuring with Venezuela.

“The first part includes pretty favourable terms with a small sum due for repayment so that it’s manageable for our Venezuelan colleagues.”

The deadline for the warship deal to be agreed is Wednesday.

Vladimir Putin‘s involvement in Venezuela began with a £3bn arms-for-oil deal signed in Moscow in 2006.

Shunned by the US, Mr Chavez bought Russian Sukhoi fighter jets, helicopters, tanks and guns from the Kremlin.

Igor Sechin, a long-time advisor and deputy to Mr Putin, had a direct line into Mr Chavez until the ex-president’s death in 2013.

Mr Sechin is understood to have maintained close ties with Mr Maduro, with the pair holding regularly meetings.