Chavez says in a televised speech that the U.S. and its allies simply want to "seize Libya's oil."
He says the United Nations has "infringed on its fundamental principles" by backing the no-fly zone in Libya.
Chavez has long-standing ties to Libyan leader Moammar Gadhafi and had been calling for mediation to help bring a negotiated solution as rebels have been fighting government troops.
Chavez said in a televised speech Saturday, "We know what's going to happen: bombs, bombs, war."
He said foreign powers are wrongly meddling in Libya's "internal conflict," and called that sad and "disgusting."
