If they were an enemy of the United States we would make sure their oil was as embargoed as Iraq's in the 90's.
Are we punishing them in any way? No body likes Chavez but you can not pretend that Venezuela is an enemy of the United States and that Israel should not do business with them.
Unlike Iraq, there is no way we can get a global boycott of Venezuela. (Indeed, we couldn't really get a global boycott of Iraq --- witness Oil for Food Abuse.)
Venezuela is a enemy of the US; read the links. If you cannot see that, perhaps you should reconsider your recent registration here (Oct 15, 2005?) --- you'd be happier at the DU.
And see how well that worked...