Venezuela Petro To Be Used For Purchase Of Auto Parts From Russia

Officials from Venezuela and Russia recently got together at a high-level meeting in Caracas where they talked upon different aspects of a “strategic partnership” to expand the economic cooperation between the two countries. Multiple topics were covered amongst which the most interesting being the use of Petro – Venezuela’s state-issued cryptocurrency, to buy automobile parts…

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Venezuela Government Angered Over Trump’s Petro Ban

US president Donald Trump has recently banned any American dealings with Petro – Venezuela’s oil-backed cryptocurrency. Last month, during the release of Petro, Venezuelan president Nicolas Maduro mentioned that they are fighting hyperinflation and a collapsing socialist economy brought on by sanctions imposed by the US government. The president explained that Petro is a transparent…

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