Caracas: Venezuela's socialist president is establishing a peace prize in honor of the late Hugo Chavez and says his pick for the initial award would be Russian leader Vladimir Putin.
President Nicolas Maduro named the prize the Hugo Chavez Award for Peace and the Sovereignty of the People. He announced Friday during the televised unveiling of a statue of Chavez, who founded Venezuela's socialist administration.
Maduro said the prize will go annually "to global and national personalities who have excelled in the struggle for peace." He then said his candidate for the first award is Putin, who has been an ally of Venezuela.
The announcement came hours after Colombia President Juan Manuel Santos was named as this year's recipient of the Nobel Peace Prize. Maduro did not mention that development.
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