Mexico city (Sputnik) – Venezuela will use its own cryptocurrency called Peter, and pay Russia for the supplied auto parts and components, Jose vielma Mora, the Venezuelan Minister of foreign trade, said.
On Monday, the Ministry of foreign Affairs of Venezuela stated that the use of Petro in international transactions was on the agenda of the recent Russian-Venezuelan high-level intergovernmental Commission. According to Mora, in cooperation with the Venezuelan side with the Russian company “KAMAZ” known for their trucks.
“[Cooperation] to include the purchase of automotive parts and components, tires and batteries, as well as the Assembly of these cars in our country and form of payment, which includes payments using Petro”, the Minister said, quoted by the news Agency AVN.
According to the politician, the Russian side also expressed interest in purchasing various commodities such as steel, aluminum, flowers, coffee, and cocoa from Venezuela.
Venezuela was the first country that started oil supported cryptocurrency. The sale of Petro began in March after a month of pre-sales. February 21, Venezuelan President Nicolas Maduro said he raised on the first day of pre-sale 735 million.
Maduro plans to establish four economic zones to work with Petro. The transition to a Petro in the field of public procurement, and real estate sales for cryptocurrency among other plans of the President.
Also in February, Maduro said that Venezuela is preparing to launch yet another cryptocurrency backed by gold and other precious metals.
Meanwhile, Venezuelan Vice-President Wilmar Castro Soteldo said that Venezuela and Russia want to increase the volume of bilateral trade by 30 percent until the end of the year.
“We have a goal in 2018 is to reach a turnover growth of 30 percent,” Castro Soteldo said Tuesday during a meeting of the Russian-Venezuelan high-level intergovernmental Commission, as quoted by Universal media portal.
The official noted that given the potential agreement increase can be higher than 30 percent. Universal reported that in 2017, the turnover of 459 million.
Sourse: sputniknews.com
