Venezuela to launch Petro in Oil Trade

Venezuela to launch Petro in Oil Trade

Nicolas Maduro,Venezuelan President made public that country would create a basket for oil-backed state cryptocurrency, Petro. The sale of oil using Petro would commence in 2019. The main aim of this move was to expand the economy and reduce the dependance on the U.S. dollar for its oil trade, also to escape its trade sanctions.

 

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