No Venezuela reprisal to sanctions by "Goliath" US

> * Laughs off report of missile base, says it's a wind farm By Frank Jack Daniel CARACAS, May 31 (Reuters) - Venezuela will not take immediate action against the United States in response to sanctions on its oil company PDVSA, President Hugo Chavez said on Tuesday after several days of marches against the "imperialist" measure. "Our actions will depend on the actions they keep taking," Chavez said in his first appearance since Washington imposed mainly symbolic sanctions a week ago to punish Venezuela for sending shipments of a gasoline additive to Iran. [ID:nN24277213] "We have an infinity of cards up our sleeves but have not played any of them," he said. In previous spats, Chavez threw out the U.S. ambassador and threatened to cut oil supplies to his OPEC nation's main customer.

"> * Laughs off report of missile base, says it's a wind farm By Frank Jack Daniel CARACAS, May 31 (Reuters) - Venezuela will not take immediate action against the United States in response to sanctions on its oil company PDVSA, President Hugo Chavez said on Tuesday after several days of marches against the "imperialist" measure"Perhaps with an eye on the economic implications of a long fight over Iran ahead of his re-election bid next year, Chavez's words were more measured this time. "The empire will decide if it takes the next step. They crossed a line," Chavez said in a televised cabinet meeting. "We are David, they are Goliath. So far, the mild sanctions on PDVSA do not affect oil sales, access to U.S.

financial markets or the company's subsidiaries and partnerships. Even so, the measures are unpopular with most Venezuelans, which favors Chavez as he prepares for a 2012 election. U.S. President Barack Obama may come under renewed pressure from conservatives in Congress to impose tougher measures if Venezuela keeps ignoring U.S. restrictions designed to limit Iran's nuclear program.

""Our actions will depend on the actions they keep taking," Chavez said in his first appearance since Washington imposed mainly symbolic sanctions a week ago to punish Venezuela for sending shipments of a gasoline additive to Iran"The socialist Chavez joked about reports this month in a German newspaper that claimed Iran was building a missile base near Venezuela's main oil refineries. "There are the Iranian missiles pointing at the United States," Chavez said, holding up photographs of a wind farm being built on the Paraguana peninsula. Some of the pictures showed dozens of wind turbine shafts flat on the ground, with the appearance of military hardware. (Reporting by Frank Jack Daniel; Editing by Bill Trott) Bonds News Bonds Markets Venezuela