President Nicolas Maduro saw the petro as a way to raise cash to outmaneuver USA sanctions. "Petro will be an instrument for Venezuela's economic stability and financial independence, coupled with an ambitious and global vision for the creation of a freer, more balanced and fairer worldwide financial system".
In late February, Venezuela launched the presale of its own cryptocurrency, a type of digital or virtual currency, backed by its crude oil reserves, as a new financing option against financial sanctions imposed by Washington, which forbid USA businesses from lending to the Venezuelan government or the state-run oil and gas company PDVSA. He authorized Treasury Secretary Steven Mnuchin to issue any necessary regulations to enforce his order.
The US Treasury has previously warned potential investors that buying the petro could violate sanctions that prohibit the purchase of Venezuelan debt.
Venezuela has been suffering from economic mismanagement and sanctions for some time, resulting in widespread poverty and, in some cases, food riots in the country.
We call on all people and governments to support peaceful debate and negotiations and to urgently and unequivocally denounce violent opposition, economic sabotage, biased media critiques, calls for foreign military intervention and regime change supported by USA rightwing politicians and the Trump-Administration State Department and military.
The United States has been increasing the pressure on the Maduro regime, including imposing sanctions against more than 20 current and former Venezuelan government officials in recent months.
"To what extent is the Department monitoring possible nefarious uses of other cryptocurrencies by Venezuela, Russia, and North Korea?" they wrote in a letter.
The order specifically targets "any transaction that evades or avoids" previous United States measures against the government of Venezuela.
"I commend the president and his administration for continuing to take action against efforts by the illegitimate Maduro regime to exploit illicit financial lifelines, and encourage additional sanctions in the weeks to come", he said in a statement.
Mr Maduro is hoping crypto-currencies will help Venezuela skirt USA financial sanctions as it struggles under hyperinflation and a collapsing socialist economy.
Senators from both political parties in the US have raised concerns about this.
Davidson (21-11), 7:10 p.m., CBS: Coach John Calipari feels his team was seeded incorrectly and unjustly placed in a remote site. State has exceeded expectations under first-year coach Kevin Keatts; next season might be the time for a first-round victory.
Indeed, the corporate press release that announced the bankruptcy filing acknowledges debt in excess of $10 billion. The company owns three Springfield stations: Mix 93.1, Kix 100.9 and WHYN NewsRadio 560.
David Moyes' West Ham United will face Southampton at the London Stadium in the Premier League later this month. Another meeting with various stadium stakeholders and the Metropolitan Police is planned for Thursday.
"The company's iconic ear piercing services are unmatched and can not be replicated online", it added. Claire's said it expects to operate its 7,500 locations in 45 countries as usual during restructuring.
The rest of the two resident doctors suffered minor injuries including fractures in the spine, ribs and hips, they said. All of them were travelling in a silver coloured SUV, which crashed into a canter around 2.30 AM in the morning.
Buying Qualcomm would have make Broadcom the third-largest chip maker, behind Intel Corp. and Samsung Electronics Co. In September, Trump blocked a Chinese state-owned company from acquiring an American semiconductor firm.
TEN people were killed today when a small aircraft slammed into a home in the Philippines wiping out a family eating their lunch. The crash killed all five people on board and fire more people on the ground in Plaridel, according to the latest police report.
Fadel's five-day permit, which began on Sunday, allowed him to enter Jerusalem in order to look for work, the Shin Bet said . The wounded security guard was rushed to Hadassah hospital on Mount Scopus by the Magen David Adom emergency services.
Two days later Lavrov's deputy Sergei Ryabkov says Moscow never had any programmes to develop the Novichok nerve agent. The Russian Foreign Ministry said it was giving the 23 British diplomats one week to leave the country.
The premiere of Infinity War's latest theatrical trailer coincided with the movie's presale tickets going on sale at 9 a.m. The movie will be out in cinemas on April 27 - but first, here's the action-packed trailer.
A Day in the Life of Marlon Bundo - Audiobook
Comedian John Oliver likes exactly one thing about Vice President Mike Pence - his family's pet rabbit, Marlon Bundo . James Dobson and organizations like Focus on the Family connect the VP to the practices most vocal supporters.
Putin easily wins re-election as Russian president
The Central Election Commission said that with about a third of the ballots counted, more than 73.1 percent were for Putin . Putin told supporters on Sunday that his landslide election win showed the "confidence and hope" of the Russian people.
New shocking game mode being added to 'Fornite: Battle Royale'
Once you've selected that you're a player, you'll be instructed to put in your credentials for the account on which you now play. If you are attempting to sign up for Fornite Mobile , or sign in on PSN, XBox or mobile, you probably will not be successful.
One winning Powerball ticket worth $456M sold in Pa.
If the victor decides to take the cash lump sum option, they will receive about $273.9 million, Powerball officials said. The exact location of where the winning ticket was sold has not been released as of yet.