Since 2005, President Chávez has deepened relations with Iran, a state sponsor of terrorism, by signing multiple economic and social accords and publicly supporting Iran's controversial nuclear program. President Chávez has also reached out to North Korea, Belarus, and Syria. The Venezuelans have also embarked on a worldwide effort to increase their presence in embassies overseas in Africa and Asia.

President Chávez has also launched a major renovation of the Venezuelan Armed Forces by purchasing new advanced weaponry. In 2005-2006, Venezuela purchased 100,000 AK-103 rifles from Russia and signed an agreement to construct a rifle and ammunition complex. Venezuela has also purchased Russian Mi-24 HIND attack and Mi-26 transport helicopters, and has begun receiving 24 Russian Sukhoi Su-30 fighters. In 2007-2008 Venezuela signed agreements for Mi-28 Havok attack helicopters, IL-76 heavy lift aircraft, an integrated air defense missile systems from Belarus, four KILO class diesel submarines, and Chinese K-8 jet trainers.

Venezuela has longstanding border disputes with Colombia and Guyana, but seeks in general to resolve them peacefully. Bilateral commissions have been established by Venezuela and Colombia to address a range of pending issues, including resolution of the maritime boundary in the Gulf of Venezuela. Relations with Guyana are complicated by Venezuela's claim to roughly three-quarters of Guyana's territory. Since 1987, the two countries have held exchanges on the boundary under the "good offices" of the United Nations.