July 28 (Bloomberg) -- Venezuelan President Hugo Chavez said U.S. President George W. Bush is seeking to relive the Cold War now that Russia is regaining its strength.

Chavez made his comments in a letter to Cuba's Fidel Castro on the 55th anniversary of an assault by Cuban revolutionaries on the Moncada Barracks on July 26, 1953. The attack is considered to mark the start of the Cuban Revolution.

``Bush, when his inevitable decline is arriving, wants to relive the Cold War,'' Chavez wrote. ``The fact that Russia has stood up has enraged the hawks and they're trying, through transnational communication, to press the fear buttons.''

Chavez visited Moscow last week and met his counterpart Dmitry Medvedev to discuss the acquisition of an air defense system and military equipment. Chavez said if Russian navy ships were to arrive in Venezuelan ports they would be welcome, and said the reactivation of the U.S. Navy's Fourth Fleet to patrol the Caribbean is a threat to Venezuela and the region.

Venezuela has bought $4.4 billion of Russian arms since 2003, including Sukhoi fighter jets and Kalishnikov rifles. Chavez said the South American country is not in an arms race and turned to Russia to modernize its military after the U.S. stopped selling replacement parts for fighter jets in 2006.

Chavez's letter was published on the Web site of the Cuban daily newspaper, Granma.

For related news: On Cuban and Venezuela: {TNI CUBA VENZ BN} On Venezuela's military: {TNI MIL VENZ BN}

To contact the reporter on this story: Daniel Cancel in Caracas at dcancel@bloomberg.net.

Last Updated: July 28, 2008 12:35 EDT