Crypto

Russia and Venezuela discuss Petro's use in trade


According to Ambassador Jorge Valero, Permanent Representative of Venezuela to the UN Geneva Office, Caracas and Moscow are discussing the possibility of using Russian Ruble instead of US Dollars in mutual trade.

Russian government-sponsored TV channel Russia Today (RT)

Caracas fixed the value of Petro, launched in February last year, on the barrel price of Venezuelan oil, according to the report, adding that the use of petroleum-backed crypto-money Petro (PTR) of Venezuela was also on the table. The government also linked Venezuela's national currency to Bolivar last summer.

The US sanctions against Venezuela forced the country to abandon the use of the dollar in international transactions. The government decided to pass the euro last October.

According to the estimates of the International Monetary Fund (IMF), this year's inflation in Venezuela hit 10,000,000, and the country is dealing with one of the worst economic crises in history.

Caracas said he relied on the Kremlin's support to restructure Venezuela's foreign debt.19659002 The diplomat stressed that the United States has a major negative impact on the country's economy as well as the freezing of the country's dollar accounts, as well as sanctions against the oil industry. ] Join our Telegram channel to be immediately notified of the latest developments!