President Hugo Chavez said Sunday that Venezuelan and Russian ships could soon hold joint naval exercises in the Caribbean - a move that would likely raise concerns in Washington. "Russia's naval fleet is welcome here," Chavez said on his weekly broadcast program. "If it's possible, we'll stage an exercise in our Caribbean waters."

Russian naval vessels are due to call on Venezuelan ports in late November or December, Chavez said.

The socialist leader ridiculed any concerns US Officials might have, saying, "Go ahead and squeal, Yankees." (AP)