CoinSpeaker Venezuela Sidesteps USD to Use Petro Token for Oil Sales Starting from 2019
In December 2017, Venezuela’s President Nicolas Maduro announced its controversial cryptocurrency Petro in order to circumvent the U.S. sanctions and prevent Venezuela’s economic collapse. Since then, Maduro took several steps to push the adoption of Petro. For example, he made the mandatory to pay for passports with Petro. Starting from November 1, the cost of issuing new passports is 2 Petros while that for the extension is 1 Petro.