The whole Venezuelan oil should be sold for «Petro», said Maduro

© AFP 2018 / Federico Reggaesize of Venezuela Nicolas Maduro during the ceremony the launch of cryptocurrency Petro. Archival photoThe whole Venezuelan oil should be sold for «Petro», said Maduro© 2018 AFP / Federico Parra

Venezuelan President Nicolas Maduro announced Monday that he plans to put the entire sale of Venezuelan oil to payments in cryptocurrency «Petro».

«Venezuela needs to move quickly to negotiations and the sale of all its oil derivatives, which will leave the Venezuelan coast, for the «Petro». The whole Venezuelan oil very soon should be sold for «Petro». Good idea, though,» said Maduro on state television.

According to him, the need to prepare for the sale of all of the fuel for international aviation for «Petro», and immediately.

«Petro» was released into circulation on the 20th of February, is the first cryptocurrency provided by oil. Thus, Venezuela became the first country with its own cryptocurrency, which is supported by the oil reserves. Earlier, Maduro had identified the cost of one «Peter» in the price of a barrel of Venezuelan oil, or $ 60 (3.6 thousand new sovereign bolivars).