Venezuela began significant oil sales for cryptocurrency petro

The sale of 4.5 million barrels of oil for the national cryptocurrency Petro began in Venezuela, President of the country Nicolas Maduro announced this on January 14 in an annual message.

“I am signing a decree to sell 4.5 million barrels of oil from PDVSA certified reserves worth $ 30 million” – said Maduro.

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Further, the state-owned oil and gas company PDVSA will be obliged to sell 50,000 barrels of oil per day for petro. The goal of the Venezuelan government is to transfer the entire sale of oil to settlements in the national cryptocurrency.

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