The large anti-submarine ship Admiral Chabanenko is scheduled to traverse the waterway from the Atlantic to the Pacific Ocean sometime between Friday night and Saturday morning, the Russian embassy in Panama said.

"The only time such an event took place was in 1944 during the Second World War, when four Russian submarines passed through" the canal, said the embassy in a statement.

At that time, when the waterway was under US control, both Russia and the United States were allied in the anti-Nazi coalition, the embassy added.

The scheduled passage through the canel comes after Russian warships on Tuesday wrapped up two days of joint exercises with Venezuelan navy vessels.

The arrival of the Russian ships at the invitation of Venezuela's fiercely anti-US president Hugo Chavez has been seen as a challenge to US power in Latin America, often described as America's "backyard.

Russia has denied the exercises were aimed at any "third countries."

Moscow announced the exercises after US President George W. Bush sent navy vessels to Georgia during the Russian-Georgian conflict in August, angering the Kremlin. Washington said the warships were delivering humanitarian aid.

After passing through the canal the Russian ship and its 451 crew members will remain in Panama until December 11 at a former US naval base.

"The main purpose (of the visit to Panama) is for the soldiers to rest and to replenish (ship) supplies," said the embassy.

During its stay the Russian crew will also take part in soccer and volleyball competitions with the Panamanian navy.

"The Russian vessel's friendly visit further raises Panama's international prestige as a great naval power and the Panama Canal as a truly neutral waterway," said the embassy.

Panama's foreign minister Samuel Lewis Navarro said Thursday that "as we all know, the Panama Canal is open to all ships in the world," noting the canal's permanent Neutrality Treaty.

The 169-meter (554-foot) Admiral Chabanenko, which carries out operations against piracy and international terrorism, belongs to Russia's Northern Fleet.

It was part a flotilla of Russian warships, based in the Arctic port of Murmansk, that participated in joint exercises with the Venezuelan Navy that concluded on Tuesday.

Located at the Pacific entrance to the Panama Canal, Chabanenko's temporary home the Rodman Naval Base hosted US military personnel until 1999 when it was given to Panama as part of the handover of the Panama Canal Zone.

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