Chavez has been looking for guns for a long time, but the US banned sales to him "because he wasn't properly combating terrorism" then Spain agreed to be the US's lap dog and deny several purchases, but did accept a few for Patrol boats.
The deal with Russia has been in the works for a long time really, and this will result in Chavez getting a state owned Ak-101 factory. People are trying to say Chavez is going to upset his neighbors, but that is untrue, as he can't sell them weapons, and Cuba really wouldn't need them, and the only real enemy Chavez has is Peru, and 1/2 of the people of Peru openly support Hugo Chavez.
What Chavez is doing is following the communist set up of the Paris Commune, and what Lenin always proponed. There will be a small elite standing army (which includes a permanent air force and navy) and the vast majority of the population will be involved somehow in the reserves, national guard, and local militias. In Venezuela, people are allowed to form their own "Workers' Militias" and Chavez is fully intending to arm these people. He needs guns, not only for his standing army (which is being downsized all the time- or used as a labor pool for public works) but 2.5 million reserves and workers' militias (growing everyday). The Defense Minister under Chavez has said that they wouldn't mind selling weapons to allies, but it wil be some time before they are able to do this as arming themselves will be a priority.
The alliance with Belarus is a beautiful thing as they are a working socialist economy and have been as such since 1917, they have much experiance to give to the new latin american socialisms.
As for the UN seat, the US is backing guatamala, but not many latin americans like that government, and it's by secret ballot. So it is highly likely that places that are traditional us allies will say "We're voting guatamala" and vote Chavez! I think he'll get the seat.
As for world politics? You're going to see more anti-socialism here real soon.
On another note Chavez has also met with leaders in North Korea, but nobody talks about what was done or said.. Chavez is also headed for Vietnam here soon.