Venezuela's President Chavez speaks next to Iran's President Ahmadinejad during an official meeting in Tehran
Venezuela's President Chavez speaks next to Iran's President Ahmadinejad during an official meeting in Tehran Reuters

Venezuela has frozen its relations with the United States after Washington hit Venezuela's state-owned oil company with sanctions for providing gasoline to Iran, according to Press TV, the state-owned Iranian news network.

Examiner.com said that Caracas “froze” relations with the US on Sunday, citing a top Venezuelan diplomat.

According to reports, Venezuela’s Foreign Minister Nicolas Maduro suggested that renewing relations with the US might be impossible.

In Late May, Washington punished Petroleos de Venezuela (PDVSA) for supplying Tehran with gasoline and other refined oil products. Under the sanctions, PDVSA cannot receive US government contracts nor get any export financing from the US.

However, Venezuelan companies can still supply oil to U.S. private corporations.

Maduro has condemned the sanctions as “illegal, abusive measures taken by this weak government of the United States.”

Venezuela's Energy Minister Rafael Ramirez, who is also the chief of PDVSA, said Venezuela will continue to maintain relations with Iran.

This is a right we are not going to renounce, he said.

U.S.