Venezuelan President: Airlines must pay for fuel using Petro

Venezuelan President Nicolas Maduro said: airlines flying from Caracas (the capital of Venezuela) must pay for fuel using cryptocurrency Petro.

Maduro announced this on Tuesday as part of his annual performance to the ruling Constituent Assembly.

“From now on, the sale of all fuel sold by PDVSA (the Venezuelan state oil company) for aircraft operating international flights will now be carried out in Petro cryptocurrency” – the president said.

Maduro did not specify whether this initiative applies only to Venezuelan airlines or to international carriers.

According to the president, in the future Petro will be used to pay taxes and utility bills.

“We are opening the way to a new economy in order to break old protocols and bureaucracy” – he added.

Venezuela takes a number of measures to expedite the adoption of Petro – Earlier this month, Maduro said the country would sell oil and part of the gold that it produces to finance its own cryptocurrency. The creation of Petro was announced in October 2017, and its sales began in February 2018, but the price for it never took off.


“Many people do not want to switch to Petro because their business is in dollars. We will carefully analyze such revenues. Petro will block the oxygen of the mafia businessman” – Maduro said on Tuesday.

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