Maduro awards first Hugo Chávez Peace Prize to Russian President Putin

Venezuelan President Nicolás Maduro announced on 7 October 2016 the creation of the Hugo Chávez Prize for Peace and the Sovereignty of the Peoples, which Maduro awarded to Russian President Vladimir Putin. The announcement was made after the unveiling of a statue of former President Chávez, which Russia donated to Venezuela, in his hometown of Sabaneta, Barinas state (Efecto Cocuyo). Maduro said the annual prize was created to recognize Venezuelan and international efforts to fight for peace, sovereignty, and independence. The award was announced on the same day Colombian President Juan Manuel Santos received the Nobel Peace Prize. A few hours before the prize was awarded to Putin, Venezuela and Russian state oil company Rosneft signed a US$20 billion deal to finance Venezuelan oil projects. (Tal Cual)