The president of Venezuela, Nicolas Maduro, has announced that the state-owned PDVSA oil firm will sell 4.5 million barrels of oil for Petros.
Nicolas Maduro News
Nicolas Maduro has been the president of Venezuela since 2013, was the minister of foreign affairs for Hugo Chavez’s government and vice president of Venezuela in 2012-2013. Maduro’s rule in Venezuela is often described as autocratic, corrupt and unprofessional. Maduro was a part of drug trafficking investigations, violations of human rights and a profiter of food shortages in Venezuela. These facts led to the implementation of sanctions on Maduro and the refusal to recognize the validity of the Venezuelan election in 2018. U.S. sanctions forced the establishment of Maduro’s Petro cryptocurrency. Maduro plans for the Petro to become a tool for accessing international financing in avoidance of U.S. sanctions. The Petro was launched in 2018 and was developed by united work of Venezuelan and Russian governments.
- News
- News
by Helen Partz
Nicolas Maduro said that national oil inventories are ready for immediate commercialization to serve as backing for the Petro.
- Analysis
Last week, the president of Venezuela appeared on national television holding a Trezor wallet. Was it just a stunt?
- In depth
by Samuel Haig
Venezuela is leading the crypto peer-to-peer BTC trade market, despite government efforts to drive adoption of its oil-backed cryptocurrency, Petro.
- News
Venezuela’s President Nicolas Maduro ordered the country’s leading bank, Banco de Venezuela, to accept the nation’s cryptocurrency El Petro at all its branches.
- News
Petro should form an investment priority for Venezuelans, the country’s president has said.
- Follow up
by Joseph Young
US President Donald Trump issued an order on March 19 to effectively disallow American investors from participating in the ICO of the Venezuelan Petro.
- Analysis
Why the cryptocurrencies are not saving the country in a crisis.
- News
by Helen Partz
The Venezuelan government launches a free training course to teach its citizens how to buy, sell and mine cryptocurrencies following launch of Petro (PTR).
- Analysis
by Thomas Meyer
Venezuela launched Petro pre-sale. What is the economic nature and implications of the world’s first government-issued cryptocurrency?
- News
by Guest Author
Venezuela launched the pre-sale of the world’s first national cryptocurrency Petro (PTR).
- News
Venezuela’s Minister of Foreign Trade has reported that countries like Poland, Denmark, Norway are already interested in the oil-backed “petro” cryptocurrency.
- News
While announcing Petro coin presale, Venezuela has dramatically U-turned on its cryptocurrency mining policy, announcing it is now “perfectly legal”.
- News
Venezuelan President Maduro asks for 10 countries’ cooperation in creating his proposed oil-backed cryptocurrency, the Petro.
- News
Petro, the oil-backed cryptocurrency planned by Venezuela’s president, is “a new act of fraud”, according to a member of the country’s parliament.
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