Venezuelan president Nicolas Maduro celebrates the results of a referendum on a constitutional assembly in Caracas, Venezuela, on July 31, 2017.

Venezuelan President Nicolas Maduro on Monday ordered the armed forces of the country to have military exercises later this month, coming on the heels of President Donald Trump warning of possible military action.

"Venezuela will not be threatened," Maduro was quoted as saying, according to the Venezuelan newspaper Panorama.

The paper said Maduro added that Trump "should know that threatening Venezuela is like threatening Latin America."

At the same time, Venezuela's defense minister, Vladimir Padrino Lopez, warned Monday that the U.S. was looking to steal Venezuela's oil reserves, according to a report from Reuters.

Venezuela's nationwide military drills are scheduled to take place August 26 to 27 and will include the air force, navy and national militia, according to Panorama.