On May 24, the United States imposed new oil sanctions against Iran, and that includes Venezuela’s state controlled PDVSA oil company.

Syria, Iran and Venezuela co-own an oil refinery in the Syrian state of Homs.

Venezuela’s Energy Minister Rafael Ramirez, says they have a right to do business with whomever they wish: “This is a right we are not going to renounce.”

On May 25, Venezuela’s Foreign Minister Nicolas Maduro, announced that plans were underway to stop exporting oil to the United States: “There are several proposals that are being evaluated by President Chavez to respond to the United States’ imperialist pretensions.”