Trump Bans American Investors From Venezuela's Petro

Christos Stylianides NewsEurope drastically increases aid for Colombia by Adriaan Alsema

Christos Stylianides NewsEurope drastically increases aid for Colombia by Adriaan Alsema

The government of Venezuela issued the new currency, Petro, last month in a bid to help the country's economic problems. According to report, the US President Donald Trump ban any US citizen from dealing in Petro. Sitting in the front row during an unveiling ceremony at the presidential palace in Caracas were Denis Druzhkov and Fyodor Bogorodsky - two Russian men with close ties to Russian state banks and Kremlin officials.

Talking from the state housing complex, Mirador de Caiza in the state of Miranda, Venezuelan President Maduro says that with the February 20 launch of the Petro, which saw the sale of 82.5 million units and earned the country a reported US$735 million, Venezuela is "financially free" from the heightened USA economic sanctions against the country.

Russian officials denied the report.

21 de marzo de 2018, 17:42Caracas, Mar 21 (Prensa Latina) The Minister for University Education, Science and Technology, Hugbel Roa, announced today the beginning of the first public offering of the Venezuelan cryptocurrency Petro. The Trump administration has alleged that the petro is merely an "attempt to circumvent USA sanctions". It seems lifting the sanctions will not be enough.

USA officials said that the cryptocurrency is a "scam" by the Venezuelan government to further undermine democracy in the petroleum-reliant country. This action barred all Americans residents from buying the petro.

In an official statement, Maduro condemned the sanctions, saying they were in violation of the United Nations charter and global law, and that they were "an attack on [Venezuelan] people". He termed the act as attacks against his people, claiming that the president of the United State was scared of the power petro would give to nations.

"Investing in the Petro should be viewed as directly supporting dictatorship and its attempts to undermine the democratic order in Venezuela".

Similarly, Florida representative Ileana Ros-Lehtinen said she, too, welcomed the sanctions, but urged "the [Trump] Administration to continue building on this momentum and and use all available tools to increase pressure on Maduro, but we must also find a way to support the people and their humanitarian needs".

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