Venezuela to use Petro as means of foreign exchange for oil, gold

Venezuela’s president, Nicolas Maduro has announced that the country would begin to trade oil and gold in Petro. Petro is the national cryptocurrency of Venezuela and was announced in Oct. 2017, its sales began on Feb. 20, 2018, and its cost is equal to the price of a barrel of oil produced in the country. We will sell Venezuelan oil and gold in exchange for Petros, Maduro said. Already, Venezuela sells iron ore and steel for Petros and has signed contracts for the sale of oil, Steel, Iron, and Aluminum. Maduro overtime has been introducing the Venezuelan cryptocurrency into the