India offered a $1.6bn oil discount, if it pays in crypto

“It’s not difficult to understand why Nicolas Maduro is trying very hard to sell his Petro crypto coin. Launched in late 2017 with the aim of circumventing US trade sanctions while also attempting to ease the pressure on the ever-sliding Bolivar – Venezuela’s inflation rate rose from 4,000% last year to 18,000 % in April and some economists say it could hit 100,000 % by the end of the year – the Petro could be the last roll of the monetary dice for President Maduro.”

Source: India offered a $1.6bn oil discount, if it pays in crypto | Asia Times

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