Venezuela creates and awards President Vladimir Putin the Late Hugo Chavez Peace award

Venezuelan President Nicolas Maduro announced the peace prize created in honor of Hugo Chavez, late socialist leader and said the award will be given to Russian Federation President Vladimir Vladimirovich Putin.

President Maduro who announced the creation of the award during the unveiling of a Hugo Chavez statue designed by a Russian artist said:

"I've decided to create the Hugo Chavez prize for peace and the sovereignty." 

"I think President Vladimir Putin deserves this Hugo Chavez award" he said, describing Putin as a "fighter for peace."

President Nicolas Maduro said winners will receive miniature replica of a Hugo Chavez statue.

Venezuela openly challenged Washington's dominance in the region while building up alliances with Russia and China and other traditional adversaries of the United States during the 14-year rule of Late Hugo Chavez.