❖ VENEZUELA LOOKS TO CRYPTO FOR OIL SALES AS SANCTIONS RETURN Using Tether, pegged to the U.S. dollar, PDVSA is seeking to hasten the use of digital currency for oil export transactions to avoid having revenues from oil sales frozen in foreign bank accounts, Reuters reported on Monday, citing three unnamed sources. oilprice.com/Latest-Energy-…
@DeItaone Oh no no no the US gonna end up sanctioning Crypto😂😂
It seems that Venezuela is turning to the crypto world, specifically Tether, to bypass sanctions imposed by the United States. This move is aimed at allowing the state-run oil company, PDVSA, to continue selling oil without having its revenues frozen in foreign bank accounts. Tether, which is pegged to the U.S. dollar, offers a means for PDVSA to conduct transactions in a way that is less susceptible to international sanctions. By using Tether, Venezuela can avoid the traditional banking system, which has been used by the U.S. to enforce sanctions through freezing financial assets. This shift towards cryptocurrency for oil sales is a significant development in the ongoing saga of U.S.-Venezuela relations. It highlights the growing role of digital currencies in international trade, particularly in situations where traditional financial channels are restricted or unavailable. In essence, Venezuela's embrace of cryptocurrency for oil sales is a bold move that reflects the country's determination to circumvent U.S. sanctions and maintain its oil exports. Only time will tell how effective this strategy will be and what implications it may have for Venezuela's economy and its relations with the United States and the global community.
@DeItaone Don’t worry they won’t ever figure out this trick..,
@DeItaone Tether can be frozen tho and they cooperate with the US gov
@DeItaone Venezuela dodging sanctions with crypto for oil sales is like playing financial hide and seek with the global economy!
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