Chavez threatens to cut oil to US

Venezuelan President, Hugo Chavez threatened to cut off oil shipments to the United States, if a court ruling brought by Exxon Mobil ordering the freezing of Venezuelan assets goes forward.



Last week, Exxon Mobil obtained a court order freezing up to US$12 billion of the Venezuelan state owned oil company\'s worldwide assets.



This followed a decision by the Chavez government to force the company out of two joint ventures last year.



Last week, Britain\'s High Court barred Petroleos de Venezuela from selling assets valued up to US$12 billion.



The judgment stems from Venezuela\'s decision to take control of two projects it had entered into with Exxon, the world\'s largest publicly traded oil company, last June.