Russia has agreed to lend Venezuela over US$2 billion to purchase tanks and advanced anti-aircraft missiles in deals that show Moscow's commitment to working closely with Washington-foe President Hugo Chávez.

Chávez said the purchases agreed upon on a trip to Moscow last week included 92 tanks and an S-300 missile system that can shoot down fighter jets and cruise missiles.

Two years ago, Russia agreed to sell the same S-300 system to Iran but has dragged its feet over delivering the weapons amid US and Israeli concerns they will be used to defend Iran's nuclear installations.

The socialist Chávez, who claims the United States could attack Venezuela for its oil reserves, also reiterated that Moscow was helping Venezuela develop nuclear energy but said he had no intention of developing an atomic bomb.

"Let me be clear, Venezuela has no plans to invade anybody, or to be aggressive toward anybody," Chávez said on his weekly television show after announcing the US$2.2 billion loan. He did not say how much the new weapons cost.

A major oil exporter, Venezuela's finances have suffered this year because of lower crude prices. Chávez said Venezuela needed to borrow the money for defense spending to avoid cuts in education and health.

In recent years, Venezuela has bought over US$4 billion in weapons from Russia including 24 Sukhoi fighter jets. Critics say Venezuela is fueling an arms race in Latin America, but Chávez says he is modernizing the military for defensive purposes.

Venezuela is embroiled in a diplomatic dispute with Colombia over a deal to allow US troops into more bases in the neighboring country to help fight drug traffickers and guerrillas.

Chavez, a fierce critic of US foreign policy, says the Colombian bases plan could be used to launch an attack on Venezuela and increases the risk of war in South America.

Last year, he ordered tanks to the Colombian border in a dispute over a Colombian bombing raid in Ecuadorean territory.

Chávez, who visited Moscow last week, said Venezuela was now buying 92 Russian T-72 tanks along with several types of missiles to build an air defense system.

He mentioned the Buk-M2 and S-300 surface-to-air missile systems and the Smerch rocket launcher. The S-300, also known as the SA-20, is an extremely effective anti-aircraft system capable of tracking 100 targets at once.

It can be used with missiles with a range of about 125 miles and can engage six targets simultaneously.

"With these rockets it's going to be very difficult for foreign planes to come and bomb us," Chavez said.

It was not immediately clear when Venezuela would receive the new weapons.