Discount on Petro: Venezuela intends to attract investments from Qatar to the state cryptocurrency

Discount on Petro: Venezuela intends to attract investments from Qatar to the state cryptocurrency

The delegation of officials of the Venezuelan government is making efforts to advance the state of cryptocurrency Petro in Qatar. They’re trying to attract Qatar as an early investor.

Citing a source knowledgeable about the details of diplomatic meetings, Bloomberg reports that a group of Venezuelan officials under the direction “of the Comptroller of cryptocurrency” Carlos Vargas is now in Qatar. Its activities are aimed at attracting middle Eastern country rich in oil, as an early investor. The delegation luring Qatar “discounts, which are now being discussed” ahead of upcoming “sales” cryptocurrency provided by oil, which is scheduled for Feb.

The appeal of Venezuela to Qatar on its acquisition of cryptocurrency is quite remarkable. Qatar faced an economic blockade from the coalition, headed by Saudi Arabia, since the middle of 2016. Why Qatar went to the establishment of friendly relations with other countries, acquiring a commercial aircraft, Airbus France (6,35 billion), warships from Italy (of 5.91 billion), jet 24 Typhoon fighters from the UK ($8 billion) and 72 jet fighters F-15 in the amount of 12 billion dollars from the United States.


“Private pre-sale” with a duration of a month will begin on February 15. In its course, the government plans to collect $ 1.3 billion prior to sale to private individuals. The Venezuelan government plans to pay public servants digital tokens. Also they will be encouraged to use money with tax benefits.

As reported in December, the controversial President of Venezuela, Nicolas Maduro, the state first called cryptocurrency solution to bypass economic sanctions imposed by the US presidential administration. Sanctions have increased the crushing blockade that closed Venezuela’s access to global Finance and international banking. According to Maduro, Petro will initially be backed by oil, together with other items made of gold and diamonds.

January 9, Maduro emphasized at the launch Petro, announcing the planned release of 100 million Petro; some of them are now available to Qatar at a discount. Each Petro will be provided a barrel of oil from the reserves of Venezuela, with the rating of the first issue of Petro in the amount of about $ 6 billion.

The next day, the opposition Congress of Venezuela announced the Petro Maduro outside the law as “illegal and constitutionally” tool, which is “an attempt to illegally set up” the Venezuelan oil reserves.

Member of Parliament of Venezuela, Jorge Milan said:

“This is not a cryptocurrency, it is a forward sale of Venezuelan oil. It is specially created for corruption.”

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