Venezuela to pay Russia with own cryptocurrency for automotive parts

Venezuela will use its own cryptocurrency dubbed Petro, while paying to Russia for the delivered automotive parts and components, Jose Vielma Mora, the Venezuelan minister of foreign trade, said, according Sputnik . On Monday, the Venezuelan Foreign Ministry said that the use of Petro in international transactions was on the agenda of the recent Russian-Venezuelan high-level intergovernmental commission. According to Mora, the cooperation of the Venezuelan side with the Russian KAMAZ company best known for its trucks. "[The issues of cooperation] include the purchases of automotive parts and components, of tires and batteries, as well as assembling of these vehicles in our country and the forms of payment, in which we include the payments with the use of Petro," the minister said, as quoted by the AVN news agency. More…