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Author Topic: Venezuela to Pay Russia With Own Cryptocurrency for Automotive Parts  (Read 3892 times)

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Venezuela to Pay Russia With Own Cryptocurrency for Automotive Parts



MEXICO CITY (Sputnik) - Venezuela will use its own cryptocurrency dubbed Petro, while paying to Russia for the delivered automotive parts and components, Jose Vielma Mora, the Venezuelan minister of foreign trade, said.

On Monday, the Venezuelan Foreign Ministry said that the use of Petro in international transactions was on the agenda of the recent Russian-Venezuelan high-level intergovernmental commission. According to Mora, the cooperation of the Venezuelan side with the Russian KAMAZ company best known for its trucks.

"[The issues of cooperation] include the purchases of automotive parts and components, of tires and batteries, as well as assembling of these vehicles in our country and the forms of payment, in which we include the payments with the use of Petro," the minister said, as quoted by the AVN news agency.


Read the complete article on https://sputniknews.com/business/201804041063187781-venezuela-pay-russia-cryptocurrency/
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Offline Sensiyorum

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Re: Venezuela to Pay Russia With Own Cryptocurrency for Automotive Parts
« Reply #1 on: June 26, 2018, 04:05:50 PM »
This is a great news for all the cryptocurrency stakeholders. If Russia accepts this currency, then cryptocurrency will become a mainstream currency really soon. What do you guys make of this? Do you think the trade will go through?

Offline Paul88

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Re: Venezuela to Pay Russia With Own Cryptocurrency for Automotive Parts
« Reply #2 on: August 05, 2019, 09:19:15 PM »
Venezuela to Launch Second Cryptocurrency: 'Petro Gold'

The new digital currency, which follows the successful launch of the Petro, will be backed by gold and other precious metals.

After launching the oil-backed cryptocurrency Petro earlier this week, the Venezuelan government is now preparing a new digital currency called the Petro Gold or 'Petro Oro,' which will be backed by gold and other precious metals.

"Next week I'm going to launch the Petro Gold, backed by gold, which is even more powerful, to strengthen the Petro," Venezuelan President Nicolas Maduro said in a televised speech on Wednesday night.

On Tuesday, he announced that US $735 million had been raised in just one day during the pre-sale of the Petro.

Maduro has said the goal of the Petro and now the Petro Gold is to combat sanctions and the "economic war" waged by the U.S. government and its junior partners against his country, and advancing "on issues of monetary sovereignty, to make financial transactions and overcome the financial blockade."

The launch of the Petro was announced in December. It is regulated by the Superintendence of Cryptocurrencies and Related Activities, as well as the Blockchain Observatory.

https://www.telesurenglish.net/news/Venezuela-to-Launch-2nd-Cryptocurrency-the-Petro-Gold-Backed-by-Countrys-Gold-Reserves-20180222-0009.html

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« Reply #3 on: August 15, 2019, 01:22:14 AM »

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