Venezuela and Russia Are Collaborating on Cryptocurrency

Venezuelan Finance Minister Simon Zerpa Delgado met with Russian officials in Moscow the day after the petro launched, according to tweets published through his official account. While it’s possible that the meetings focused on other issues as well, the topic of the petro, which was launched late in February, came up.

It remains unclear exactly what role, if any, Russia’s government will play in the development or proliferation of the petro. Venezuelan president Nicolas Maduro has suggested that the petro will be useful in bypassing international sanctions imposed on the country.

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