Venezuela Won’t Repay State Debt in Cryptocurrency

March 29, 2018

Russia’s Finance Ministry has denied information on Venezuela paying off governmental debts in the national Petro cryptocurrency.

The statement was voiced after the country’s president Nicolas Maduro announced, the cryptocurrency will be converted into the Russian ruble and back freely.

Petro cryptocurrency remains the topic of heated debates among politicians from various countries. For instance, the US president Donald Trump has imposed ban on any activity with this cryptocurrency involved.

“Time Magazine” published anonymous information earlier which said the Venezuela's cryptocurrency would receive assistance and facilitation from the Russian Federation since 2017. Russia’s government has denied this article completely.

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