Venezuela To Discuss Using Petro Cryptocurrency In Trade With Russia - Maduro

Fahad Shabbir (@FahadShabbir) Published December 07, 2018 | 12:45 AM

MEXICO CITY (UrduPoint News / Sputnik - 07th December, 2018) A Venezuelan-Russian economic panel will discuss options for using the oil-backed petro cryptocurrency in bilateral trade, Venezuelan President Nicolas Maduro said Thursday,

"We have suggested to Russia that we should use petro in trade.

This topic will be on the agenda of the high-level committee," Maduro said in a video address posted on Twitter.

He said both countries were victims of absurd policies and sanctions and were under pressure to create a new monetary system.�

Venezuela become the first country with its own digital coin when it launched petro last February. Its value was pegged to the price of a barrel of Venezuelan oil, trading at $60, which now equals 9,000 bolivars.