Back to basics: Venezuela wants to barter its crude for goods to bypass US sanctions

Venezuela has developed special mechanisms allowing the country to keep trading with foreign partners despite the existing and looming penalties introduced by the United States. Caracas plans to swap the country’s crude oil for imported products, according to Jesus Faria, the Vice President in charge of economic affairs of the United Socialist Party of Venezuela (PSUV). “Oil is our key resource for participating in the international trade. Without a doubt, we are trying to use it to resist external pressure,” Faria said in an interview with Russia's news agency TASS. More…