Venezuelan President instructed state-owned company PDVSA to sell oil for El Petro

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The news agency reports that the president of the Venezuelan republic ordered the sale of oil and gas products for the El Petro cryptocurrency. The head of state gave this instruction to the state oil and gas producing company Petrуleos de Venezuela Sociedad Anonima (PDVSA) and other state corporations of Venezuela engaged in export sales of national products.

Nicholas Maduro announced this during a television broadcast from his residence on Thursday. He also noted that the trade in Venezuelan oil products can now be carried out for El Petro with enterprises around the world. In parallel, the head of the Venezuelan republic ordered immediately to use the Venezuelan cryptocurrency in the calculations for the importation of any national product: food, medical, pharmaceutical and industrial products.

Another initiative, announced by the president, is the creation of four economic regions in the republic, in which the payment of services and, practically, all goods will be carried out by the Venezuelan digital coin. They will be created on the island of Margarita and Los Roques, on the peninsula of Paraguana and in the municipalities of Urena and San Antonio.