President Trump Banning any Involvement with the Petro for the U.S.
President Donald Trump, in the recent move by the U.S. gov towards restricting the Maduro regime’s access to the capital, has issued order prohibiting any involvement or transactions in the U.S. that are related with any: digital coin or token launched by the Gov of Venezuela. The order-of-preventing is targeting probably the popular Petro.
Russ Dallen – Managing Director at Caracas Capital added: “it’s a pretty big blow” for the country”.
The issue will impact U.S. citizens and any person within the United States.
The first government backed crypto – Petro, was launched last month attempting to support and hoist up the countries economy as it continues to struggle under crisis where inflation is estimated to 13.000 percent. The token is backed by the country’s crude oil reserves, which are the largest in the world.
Last year, the president administration did put barricade around the trading of new debt issued by Venezuela gov and its oil firms in the United States markets. Steven Mnuchin – Treasury Secretary, in various news conferences, after the above mentioned announcement was made, added that the move was expected and meant to halt Venezuelan gov’s access. Additionally to that, the military option is not to be missed if the Maduro regime consolidates power – President Trump.
“We have many options for Venezuela, including a possible military option, if necessary,” Trump told reporters, also last August.
Reversing to March 19 [today], the sanctions put on Venezuela’s very important oil sector by the U.S. government are being put on measure scale lately just before the presidential election. If the development continues with more sanctions, it could give a critical hit to the Maduro gov which is very highly supported on oil sales.
Based on information from Mike Pence’s office, in the speech that will be held during a session of the Organization of America States on Wednesday by the Vice president – more pressure will be put on Maduro’s government:
“The Vice President will call on all members to increase pressure on the Maduro regime to restore the country’s democracy and address the humanitarian crisis unfolding in Venezuela,” Pence’s spokeswoman, Alyssa Farah, said today in a statement.
In April, the President himself has set the schedule to attend the Summit of the Americas in Lima, in which event the administration will most likely highlight the efforts to further isolate Maduro’s Government.