Venezuela put forward to face sanctions .. What do you know about the currency "Petro" digital?

Venezuela's oil-backed digital currency, Petro, has recently entered global markets in an attempt to stabilize the fragile economy affected by the country's ongoing political crisis and US sanctions.

The local Telesur channel quoted Venezuelan officials as saying that Petro's cryptocurrency would neutralize the threat of black markets and money mafias.

Experts said the goal was to halt the imbalance caused by economic warfare driven from abroad, referring to sanctions against the country.

President Nicolas Maduro told a news conference that Petro's currency is different from other digital currencies because it is protected by oil and Venezuela's mining wealth.

He noted that Petro already exists in six of the world's largest international exchange centers (unspecified) and will now be accepted at the national level.

Maduro stressed that all Venezuelans will get the currency "Petro" - without setting a date - to make international purchases, pointing out that it is now a legal alternative to the dollar in real estate deals.

The price of one unit of state-backed Petro is equivalent to 3,600 bolivars (local currency), and will be a reference to determine the value of business and the price of services and consumer goods, and one of the accounting units that will govern the Bolivarian state, according to Telesur.

First State
In February 2018, Venezuela became the first country to launch a Bitcoin-style electronic currency (the world's most popular decentralized digital currency), a move the government hoped would help the country emerge from the stifling economic crisis.

In March of the same year, President Donald Trump banned Americans from trading the new Venezuelan currency, Petro, as illegal.

In August, Trump issued an executive order to freeze all Venezuelan government assets in the United States.

In the past, the Trump administration has taken diplomatic and economic measures against the Nicolas Maduro regime, including sanctions and senior officials, to pressure him to step down.

Since January 23, 2019, Venezuela has been experiencing mounting tensions, after the speaker of the parliament, Juan Guaido, claimed his right to temporarily assume the presidency until new elections. The Soul

President Trump quickly recognized Guaido as Venezuela's transitional president, followed by Canada, Latin American and European countries, while countries including Russia, Turkey, Mexico and Bolivia backed the legitimacy of incumbent Nicolas Maduro.