Venezuela could stop supplying oil to the United States if President George W. Bush's administration continues with its "aggressions," Venezuelan Energy and Oil Minister Rafael Ramirez said Tuesday.

"We are willing to do it" despite the cost of the decision, the Agencia Bolivariana de Noticas quoted Ramirez as saying.

The situation "could cause some disturbances to the country but it is the price to pay in order to maintain our sovereignty. We are ready to defend our rights", said Ramirez, who is also president of the state company Petroleos de Venezuela.

Ramirez also said his ministry is making efforts to ensure normal economic activity is going on "under any circumstances."

Venezuela, the fifth largest oil exporter in the world, currently produces 3.1 million barrels a day, of which 50 percent goes to the United States. Its exports amount to 15 percent of American oil imports.

Source: Xinhua