Venezuelan President Hugo Chávez threatened on Thursday to stop sales of crude oil to European countries that apply a new law on illegal immigrants that was approved on Wednesday by the Europarliament.

"At least our oil should not be exported to European countries" applying the ruling, stated Chávez in a press conference together with Paraguayan President-elect, Fernando Lugo, reported AFP.

The Venezuelan ruler added that in the same way that Europe decides to return illegal immigrants to their country of origin. Latin American countries could also decide the "return of European investments".

"At least in Venezuela, we do not need them. We are going to review their investment here, so we can also apply a return ruling. Take your investments back to your countries!," declared Chávez.

The Europarliament approved on Wednesday a law according to which illegal immigrants can be detained for up to 18 months and face a reentry ban of up to five years.