Venezuela and Russia study mutual trade agreements in rubles
The sanctions imposed by the United States on Venezuela led financial authorities to seek payment alternatives for their trade agreements and to restructure their external debt
Venezuela is currently studying the ruble and the national cryptocurrency called Petro for trade agreements with Russia. The measure would be the response to the impositions and sanctions of the United States to the South American country.
The announcement was made recently by Jorge Valero, Venezuela’s representative to the United Nations in Geneva. The official said that the Venezuelan authorities work together with Russia to eliminate the use of the US dollar in bilateral trade agreements.
The search for an alternative currency that allows both countries to conclude agreements is not new, given that since 2018 the United States started applying pressure, sanctions and restrictions on Venezuela.
We must remember the prohibition of the government of Donald Trump to any negotiation in Petros when the Venezuelan cryptocurrency was officially launched last year. Later, the United States included in its list of sanctioned the Moscow Evrofinance Mosnarbank accused of representing a “major international financial institution willing to finance Petro.”
However, Venezuela continues to seek a way out of commercial transactions not only with Russia but with all the countries with which it still has agreements.
M.Pino
Source: Cointelegraph
