Venezuela is considering cutting the oil supply to United States if Washington persists with its current hostile policy towards the President Hugo Chavez regime.
Energy Minister Rafael Ramirez made the announcement Sunday in Teheran following a meeting with Iran's Oil Minister Kazem Vaziri-Hamaneh.
This is not the first time that high-level Venezuelan officials talk about cutting off the flow of crude to the United States.
Venezuelan President Hugo Chavez has accused Washington of "war mongering and imperialism" and claims the U.S. government has plotted to kill him and invade Venezuela to seize control of the country's vast hydrocarbons reserves.
Venezuela is the world's fifth exporter of oil and third supplier to the US.
President Chavez, Ramirez and a numerous delegation are currently visiting Tehran where among other strategic and political issues, a joint Iranian-Venezuelan committee to address energy matters was established.
Minister Vaziri-Hamaneh said the committee would speed the implementation of bilateral agreements and oversee the Iranian oil company Petro Pars's participation in hydrocarbons exploration projects in Venezuela.
"Petro Pars currently has oil exploration and production activities in an oil field in Venezuela, and very soon it will be involved in another project", said Vaziri-Hamaneh, who revealed the company is planning to spend 4 billion US dollars on developing two major fields, which will be Petro Pars largest investment outside Iran.
The Iranian minister said that Venezuela had been invited "to participate in the joint construction of a refinery with Iran and Indonesia in Indonesia".
Earlier Sunday, President Mahmoud Ahmadinejad presented Chavez with Iran's highest award, the Islamic Revolution Medallion, during a ceremony at the University of Tehran.
Ahmadineyad highlighted President Chavez "efforts to impose justice in Venezuela and his strong stance against oppression, which deserves to be praised".
The Iranian president also underlined Chavez "struggle against poverty, illiteracy and unemployment and in support of health and education" and thanked the Venezuela leader for his support of Iran's efforts to develop a peaceful nuclear program.
On Saturday, Chavez blasted U.S. foreign policy during a meeting with Iranian Supreme Spiritual Leader Ayatollah Seyed Ali Khamenei and said his government wanted to strengthen ties with Iran.
"Venezuela's Bolivarian revolution and Iran's Islamic Revolution are sister revolutionary movements", he emphasized.
Chavez who celebrated his 52nd birthday on Friday added he hoped "that Iran and Venezuela can continue to be allies in the battle against US imperialism".
Blasting Washington and the "puppet" state of Israel, Chavez compared the current invasion and attacks on Lebanon by Israeli forces to those committed "by Hitler against the Jews during the Second World War".
Chavez currently on a world tour is allegedly after support for his bid to the non permanent Latinamerican seat in the United Nations Security Council at the en of the year. Before Tehran, Chavez visited Russia where he signed a three billion US dollars state of the art fighter planes and helicopters contract with President Vladimir Putin.