Venezuela’s Chavez threatens oil cut to US
Oil supplies to the US are under threat after Hugo Chavez, Venezuelan President, said he will cut oil exports if US-allied Colombia launches a military attack against his country.
President Chavez, a leftist and vocal critic of the US, broke-off diplomatic relations with Colombia last week over claims by the outgoing Colombian President, Alvaro Uribe, a close US ally, that his country harbours Colombian rebels.
The Colombian Government has refuted claims that it is looking for conflict and the US has said it supports its key ally Colombia and described President Chavez’s decision to sever diplomatic relations and put border troops on alert “a petulant response” to Bogota’s accusations.
Yesterday, Mr Chavez said: “If there was any armed aggression against Venezuela from Colombian territory or from anywhere else, promoted by the Yankee empire, we would suspend oil shipments to the United States even if we have to eat stones here.”
The threat could be devastating to the US since it is the number one consumer of oil from Venezuela.
Venezuela’s exports to the US are nearly entirely comprised of oil and in 2009, oil exports totalled $27.12 billion – accounting for 96.5% of all products exported to the US.
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