May 07, 2007

Chavez to block exports of Venezuela's largest steel maker

President Hugo Chavez said Saturday that Venezuela's largest steel maker, Sidor, will not be allowed to make any more exports until it meets domestic needs, and threatened to expropriate the Argentine-controlled company if it resists. Chavez has criticized Sidor for selling the bulk of its production overseas and forcing local producers to import from elsewhere, saying Venezuelan industry should be given priority.

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