Venezuela: Airline Fuel Purchases Must Use Cryptocurrency, President Says

What Happened: Venezuelan President Nicolas Maduro announced Oct. 1 that his government would immediately require airlines flying into Venezuela to pay for fuel with the country's cryptocurrency, the petro, AP reported Oct. 2. Why It Matters: The U.S. Treasury Department has already prohibited individuals and entities within U.S. jurisdictions from using the petro, making it likely that airlines operating in the United States will push back against the policy and will cut flights to Venezuela if it is enforced. Because of this, business travel for investors that remain in Venezuela will become more difficult. More…