Venezuela got help from Russian Federation in launching petro

22 March, 2018, 02:05 | Author: Jason Torres
  • Christos Stylianides NewsEurope drastically increases aid for Colombia by Adriaan Alsema

The government in Venezuela, led by President Maduro, has been pitching petro as one of the key instruments to boost the country's crumbling economy, which has found itself at the receiving end of severe hyperinflation and devaluation for years.

The crisis has posed major challenges for governments in the region, who also worry that assistance to Venezuelans could increase the number of people leaving their country.

"People close to Putin, they told him this is how to avoid the sanctions", an executive at a Russian state bank told Time.

Venezuela's Petro cryptocurrency - a transparent attempt to circumvent sanctions through a forward sale of the country's oil - has sparked the anger of the nations that imposed those sanctions in the first place.

Green said Venezuelan President Nicolas Maduro's administration's political mismanagement and corruption were to blame for the humanitarian crisis. "This is how the whole thing started".

In what is certain to be the first crypto-related executive action taken by a USA president, the White House revealed Donald Trump's executive order to unconditionally ban all activities related to Venezuelan government-issued or related cryptocurrencies within the United States. Venezuela's currency, the bolívar, has suffered from hyperinflation as a result of government mismanagement and United States sanctions.

Actress Cynthia Nixon says she will run for NY governor
Meanwhile, Kristin Davis (aka SATC's Charlotte York Goldenblatt) already tweeted her support of Nixon. In her video, Nixon does not mention Cuomo by name.

The US government's actions are believed to send a clear message to their counterparts in Venezuela.

Venezuelan President Nicholas Maduro tweeted that the government earned $735m on its launch day - a claim that has not been independently verified.

USA calls the digital currency an attempt by the Venezuelan government to "circumvent United States sanctions".

Cryptocurrencies could be an effective form of skirting sanctions.

OPEC-member Venezuela has fallen on hard times under Maduro and more Venezuelans are leaving as an economic meltdown worsens and opposition hopes of fair elections fade.

The U.S. Agency for International Development announced Tuesday that they will be providing $2.5 million in emergency assistance to Venezuelan refugees in Colombia.



Streaming on YouTube is now as simple as pressing a button
According to Cohen, a YouTube music service is in development to compete directly with Apple Music and Spotify. They will "smoke out" people who can afford to pay for a subscription and shepherd them to the new service.

Wintry weather to impact us in two waves
Your full team of First Alert meteorologists- Jerry Jackson, Dontae Jones, Megan Lindsey and David Sawyer- will keep you updated. Later in the evening, the wintry mix is expected to switch to snow, with intermittent bouts of heavy snow.

Fed raises rates, Powell takes questions
Fed officials were split on whether this week's policy meeting was the appropriate time to signal a fourth rate hike in 2018. Some hints may come when Powell and members of the Federal Open Market Committee release their revised economic forecasts.

Martin '08 charged in connection with threatening Instagram post
The post was made eight days after a gunman killed 17 people at Marjory Stoneman Douglas High School in Parkland, Florida. A day later when Martin was arrested , police found a loaded 12-gauge shotgun, knife, and ax located in his vehicle .

Former Playboy model sues to break silence on alleged Donald Trump affair
Stephanie Clifford, famously known as Stormy Daniels , has also alleged an affair with Trump. Trump's wife Melania Trump gave birth to the president's youngest son Barron in 2006.

Male pill could be on horizon as trials yield positive results
The drug blocks sperm production through a combination of an androgen - a male hormone such as testosterone - and a progestin. Dr Page said longer term studies are now underway to confirm that when taken every day, DMAU blocks sperm production .

Katy Perry Takes Subtle Dig at Taylor Swift on American Idol
She denied it and added: "You do something, there's going to be a reaction, and trust me daddy, there's going to be a reaction". At that point, Swift began to project her image as being above the fray. "I love her, as a songwriter, as well".

Major Retailers Discuss How Trump's Anti-China Tariff Plan Could Hurt Americans
The US trade deficit with China ran to a record $375 billion past year - but US exports to the country were also at a record. Washington could impose more than $60 billion in tariffs on goods ranging from electronics to apparel, footwear and toys.

In NH, Trump calls for getting tough on drug dealers
Trump's victory in the Granite State's 2016 GOP primary set his campaign on a course to win the nomination. The stop in New Hampshire will be Trump's first as president.

Reward offered for missing rugby player
Authorities have been with her family "shoulder-to-shoulder throughout this ordeal", she said. Police say alcohol is not believed to have played a role in his disappearance.