Venezuela Ambassador Says Russia Is Interested in Cryptocurrency Petro

Published on 06 Mar. 2018
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Russia plans to carry out consults concerning Venezuelan cryptocurrency, reported Russian informational agency TASS. It informs that on Monday, March 5, the ambassador of Bolivarian Republic of Venezuela Carlos Rafael Faría Tortosa announced that at the end of February in Moscow, the minister of economics and finances of Venezuela Simón Zerpa held a meeting in the Ministry of Finance and interested Russian delegation by the oil cryptocurrency.

It is known that Venezuelan cryptocurrency is the first national cryptocurrency. It has been created in the times of hyperinflation and economic crisis in the country that is restricted by the USA sanctions. Also, we’ve informed that the president of Venezuela was already looking for support among the members of Bolivarian Alliance for the Peoples of Our America (ALBA) for their national cryptocurrency.

It seems that the Venezuelan leader aims at finding allies in those countries which in some way feel the pressure of the USA actions, counting probably on the support and cohesion in the confrontation against sanctions.

During the discussion in Moscow, the representatives talked about the strengthening cooperation of the two countries in the financial sphere. It was also mentioned that the Russian side showed the interest to the Venezuelan cryptocurrency. According to the Venezuelan diplomat, the minister of economics and finance carried out a personal consultation on the national cryptocurrency and told southern colleagues all the information about it.

Our minister provided the information on cryptocurrency, and Russians showed great interest. In the nearest future, additional meetings will be organized, where we will explain in detail how our cryptocurrency is going to work,

- explained Tortosa.

It is to be reminded that one unit of Petro cryptocurrency equals to the barrel of oil that the country has to extract. We’ve informed that the first day of pre-sale brought 735 million dollars if one can believe the word of the Venezuelan leader Nicolas Maduro.

Earlier, the president of Venezuela stated that the government received more than 171 000 confirmed orders on the purchase of Petro cryptocurrency. But if one looks at the registration of NEM transactions, it becomes evident that all 100 millions of Petro are still in the property of Venezuelan government. 

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