The Latest Sanctions From U.S. Are Considered As a Part Of a Larger Set To Target Again Venezuelan Officials
The U.S. President Donald Trump has announced fresh sanctions against Venezuela‘s new launched Petro digital currency, which was specially created to help stabilize the Latin American nation’s economical system.
McClatchy reports, that the blockade due to be signed and implemented Monday, restricts the use of Petros in U.S. financial transactions.
Trump and other critics have claimed the Petro, backed by Venezuela’s oil reserves – the largest in the world – is unreliable. Venezuela has already made over $5 billion dollars, yet only in presales.
The cryptocurrency Petro was available for presale on 20 February. It is being used specifically to counter U.S.-imposed sanctions and the economic war waged by Washington.
Venezuela’s President Nicolas Maduro said last month, that the new digital currency exists to strengthen Venezuela’s “monetary sovereignty, to make financial transactions and overcome the financial blockade.” The other Latin-American countries, which are subject to U.S. sanctions are now preparing to launch their own digital currencies.
Venezuela has yet to officially respond to news of the latest round of penalties imposed upon it by the United States, believed to be part of a larger set which will once again target Venezuelan officials and other government associates.