Reply #10: Venezuela is starting to block billions of dollars in Colombian imports and investment

[Meshuga]

Source: Associated Press

CARACAS, Venezuela - Venezuela is starting to block billions of dollars in Colombian imports and investment under orders from President Hugo Chavez, threatening economic havoc in both nations in response to a Colombian military attack on rebels hiding in Ecuador.

Chavez and Ecuadorean President Rafael Correa demanded international condemnation of Colombia's U.S.-allied government on Wednesday night, while Chavez predicted a sharp fall in the $6 billion in annual Colombia-Venezuela trade: "That's coming down."

"We aren't interested in Colombian investments here," Chavez said, standing beside Correa. "Of the Colombian businesses that are here in Venezuela, we could nationalize some."

He said Venezuela will search for other countries like Ecuador, Brazil and Argentina to replace products imported from Colombia. Noting that Colombia traditional supplies food to Venezuela, he said now "we can't depend (on Colombia) not even for a grain of rice."



Read more: http://news.yahoo.com/s/ap/20080306/ap_on_re_la_am_ca/colombia_venezuela