Russia and Venezuela can go to the calculations in rubles and El Petro to circumvent US sanctions

Jorge Valero, Ambassador of the Bolivarian Republic of Venezuela at the UN Geneva Office, said that his country and Russia had begun discussions on the issue of switching to settlements in rubles. At the same time, according to him, the option of using El Petro in the calculations of the national cryptocurrency is being considered.

Valero explained that the US sanctions and the blocking of accounts in dollars and euros did not in the best way affect the country's economy, made it difficult for her to access international financing and oil investments, as well as restructuring foreign debts.

Recall that in January, the United States announced the imposition of sanctions against PDVSA, the national oil and gas company of Venezuela, and blocked the company's assets and interests in its $ 7 billion jurisdiction. In March, Russian-Venezuelan Eurofinance Mosnarbank fell under sanctions for funding. In early April , restrictions were also imposed on two more Venezuelan oil companies.

When the President of Venezuela, Nicolas Maduro, suggested that Russia use El Petro for settlements in the oil sector last December, he explained that this “will continue the exemption from the currency used by the Washington elite for blackmail, attacks on world nations, economic damage and

Publication date 19/05/2019
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