Venezuela and Russia is now collaborating in promoting cryptocurrency.
According to CoinDesk’s report, Venezuelan and Russian government officials has met last week in Moscow to discuss the launch of Venezuela’s new petro cryptocurrency.
As of posting, the terms of the meeting remain unclear, but it seems that Russian officials have taken an interest in Venezuela’s state-backed digital currency.
The meeting comes after Petro cryptocurrency launching in Venezuela, Venezuela’s Finance Minister Simon Zerpa Delgado met with Russian officials in Moscow.
The meeting was aired via published tweet of Dalgado through his official account.
Delgado tweeted (translated from Spanish): “In this meeting we have reviewed the economic and financial cooperation between the two countries, with emphasis on the new [cryptocurrency] of Venezuela: the petro.”
The Venezuelan official continued (see tweet below): “Russia and Venezuela will continue to strengthen their trade balance. We will continue advancing in the construction of a multipolar and pluricentric world, free of imperial tensions.”
Delgado’s Twitter statements were broad and vague, suggesting only that Russia and Venezuela were in discussions regarding the dubious new cryptocurrency, which is supposedly linked to Venezuela’s oil reserves.
At the Press time, it is not yet clear if what role does Russia will take place in the development or proliferation of the petro.
Venezuelan president Nicolas Maduro has suggested that the petro will be useful in bypassing international sanctions imposed on the country.
Venezuela does not have many amicable relationships with other governments around the world, so it may be hoping that Russia can help to bridge the gap between itself and other countries.
A Russian company called Aerotrading has already been linked with the petro cryptocurrency project.