OREANDA-NEWSVenezuela will sell oil and part of the mined gold for the national cryptocurrency petro. This was announced by President Nicolas Maduro.

“We will sell Venezuelan oil for petro, we already sell Venezuelan iron and steel for petro. We already have signed contracts for the sale of oil, steel, iron and aluminum, and we will sell part of the gold mined in petro”, he said Venezuelan newspaper on Thursday. According to Maduro, the government is successfully introducing cryptocurrency into the daily life of Venezuelans. In December, the republic’s authorities transferred benefits related to New Year’s holidays to pensioners and civil servants in petro. “The trial use of petro is successful”, the president said.

Maduro announced the launch of the national petro cryptocurrency in October 2017. The sale of cryptocurrency began on February 20, 2018. Its cost is equal to the price of a barrel of oil produced in the country. 
In addition, according to the Venezuelan leader, part of the mined gold will be sold for the national cryptocurrency.