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Wednesday, March 21, 2018

Trump forbids any transaction with the petro

Por Rory

The president of the United States, Donald Trump, signed an executive order that prohibits transactions with the petro, the cryptocurrency that officially launched by the government of Venezuela. The order prohibits "all related transactions, financing provisions and other business by a person from the United States or within the United States, with any currency or digital card" issued by the government of Venezuela since January 9, indicates the executive order.

In February, the government of Nicolás Maduro launched the presale of the petro, with which it aspires to overcome what it considers a financial blockade by the United States at a time when Caracas seeks financing in the face of falling revenues due to the collapse of oil production. In addition, the Trump administration also announced the imposition of sanctions on four other officials or ex-officers who join a list of leaders headed by President Maduro himself.

The executive order adds to August last year, in which Trump already vetoed the new financing for the Venezuelan government or the renegotiation of the debt, something that can make it difficult for the country and the state oil company PDVSA to fulfill its commitments and take them to default.

Maduro's government announced that according to the purchase interest of the first digital currency launched by a state, it will raise several billions of dollars. "We are going to see if they are capable of stopping something that is born virtually, that is the imperialism of arrogance," said Diosdado Cabello, senior leader of the ruling United Socialist Party of Venezuela (PSUV). Hours later, the government of Caracas published a statement in which it is stated that "Nicolás Maduro, in the name of the government and the heroic Venezuelan people, rejects and strongly condemns the alleged and new unilateral sanctions of the Donald Trump regime against the Venezuelan people and our financial and economic system.”

"Venezuela took a tremendous leap into the future, by launching a revolutionary economic mechanism such as EL PETRO, backed with more than 5 billion barrels of oil, which will allow the country to break the moorings of the dollar and open the doors to the firm realization of the prosperity of our economic and productive system ", reads in it.

Washington calls Maduro's government a "dictatorship," while the Venezuelan government accuses the United States of being "imperialist" and of seeking to overthrow Maduro by undemocratic means. US officials said they continue to study possible sanctions against the oil sector "without harming the economy of the United States, the region or the Venezuelan people."