Venezuela threatens to cut oil exports to US

TEHRAN: Venezuelan Energy Minister Rafael Ramirez on Sunday repeated a threat to halt oil exports to the United States if Washington continues its "hostile policies" towards Caracas.

"Our policy is transparent. If the US wants to carry out hostile policies against us, we stop oil exports to this country," Ramirez was quoted as saying by the official Iranian news agency IRNA after a meeting with his Iranian counterpart in Tehran.

"We can not steadily export oil to the US and be steadily subject to its hostility. Some actions should be taken against this situation," said the minister, who is accompanying President Hugo Chavez on a visit to the fellow anti-American state.

Ramirez has also blamed US policies in Iraq and against Iran and other oil exporters for high oil prices of above $70 per barrel.

"The situation in Iraq is awful. The hostile US reaction against Iran and some oil producers and exporters is the reason why oil prices have reached the current level."