Venezuela prepared for possible US sanctions: minister
The Venezuelan government was considering measures to counter possible economic sanctions being imposed against it by the United States, Foreign Trade Minister Gustavo Marquez said on Friday.

Venezuela has been developing its economic ties with Argentina with a view to shielding the country from events like the recent U.S. interference in Venezuela's purchase of warships and military planes from Spain, he said.

"Faced with this and the challenge of developing the Venezuelan economy, we must respond by promoting regional integration," said the minister.

The free trade agreement signed between the United States and Colombia could result in a reduction in trade between Venezuela and Colombia, he hinted.

"Some exports to Colombia could be affected, now that we have the United States as a third party. That could also make it more difficult for Colombian businesses," he said.