“This format is caused by the announcement made on Sept 7 through the president … that Venezuela will implement new ways of free the nation in the tyranny from the dollar,” the ministry authored inside a statement released following the bulletin.
The ministry didn’t react to an e-mail seeking additional details.
CARACAS () – Venezuela printed the cost of their oil and fuel in Chinese currency on Friday with what it known as an attempt to free the socialist-run country in the “tyranny from the dollar,” echoing an agenda lately announced by President Nicolas Maduro.
Reporting by Eyanir Chinea and John Ellsworth Additional reporting by Marianna Parraga in Houston Editing by Grant McCool and Leslie Adler
But Venezuela remains determined by the greenback considering that it conducts ample commercial do business with the U . s . States both through exports of oil and imports of U.S. food and consumer products.
“Oil is really a commodity that’s traded almost exclusive in dollars. PDVSA’s financial obligations, for instance, continue to be denominated in dollars … and that’s how they’ll need to pay bondholders,” the trader stated, talking about the condition oil company.