November 25, 2019 by Clementine
Nicolas Maduro, the venezuelan president, is more than ever committed to defend the Petro. A new plan for him is to the mind, which is to allocate 30 million barrels of crude oil from its reserve to promote its digital currency national.
Contents
A grant significantly lower
While the stock of oil in venezuela has been estimated at nearly 39 million barrels at the end of the month of October, Nicolas Maduro said in his recent speech that the oil inventories of the countries are available on the market. The proceeds from this sale will be fully allocated in the promotion of the Petro.
“I will deliver these 30 million barrels in liquid form, physical and material for the Petro,” said the president.
It is clear that this figure is declining significantly compared to 5 billion barrels of oil that the country had originally planned to support his crypto-currency.
This sharp decrease was the direct result of the sanctions imposed by the United States to the oil company of venezuela PDVSA. In fact, the company was obliged to reduce its extraction of crude oil this year as a result of these sanctions.
The Petro is still struggling to make its place
Although the authorities of the country have recently said that dozens of retail customers now have consented to the payment in Petro, the magazine financial Reuters has supported have not yet found evidence of a meaningful use of the Petro as a medium of exchange official.
However, Venezuela will be the hands and feet to carry out until the end of her struggle, knowing that the Petro is not yet listed in the major crypto-exchanges.
Earlier this month, the venezuelan President announced that Christmas bonuses will be allocated to the retired venezuelan Petro.
Do you think that the efforts made by the government of venezuela will bear fruit one day ? Respond in the comment section below.
(Be the FIRST to vote)
…
Clementine
Passionate about the universe geek, Clementine finds the news more interesting and involved in their drafting.