Proven: Russia secretly helped Venezuela start El Petro to evade U.S. sanctions

Proven: Russia secretly helped Venezuela start El Petro to evade U.S. sanctions

Russian government officials and businessmen helped the Venezuelan government to launch the world’s first cryptocurrency supported by the state, said the publication TIME on Tuesday, March 20.

Citing anonymous officials dedicated to this cause, the report says that billionaire Denis Buddies and Fedor Bogorodskiy contributed to Venezuelan President Nicolas Maduro in his efforts to build a pipeline. In addition, TIME reported that “senior advisers to the Kremlin” has overseen the development of El Petro with the support of Russian President Vladimir Putin.

The article further States:

“In fact, the project El Petro is cooperation, a hidden joint venture of Venezuelan and Russian officials and businessmen whose purpose was to undermine the power of U.S. sanctions”.

The information that the US President is preparing to sign an order imposing additional sanctions on the South American country for trying to circumvent the existing economic restrictions has already appeared earlier.

On Monday, Donald trump has signed a decree on new sanctions against Venezuela and Petro cryptocurrencies and block any transaction between US and Petro. Maduro called this act of the President of the US “fear” before the supposed power of Petro and proof that the South American nation “is on the right track”.

In an official statement, Maduro condemned the sanctions, saying that they violate the Charter of the United Nations and international law and that they are “an attack on the [Venezuelan] people.”

Perhaps that is why the Russians involved in this operation, wanted to stay in the shadows. But a TIME investigation found the fingerprints of Moscow in the creation of the scheme Petro, showing the scale of the efforts of Russia to counter U.S. sanctions.

New cryptocurrency, allegedly associated with the cost of the oil reserves of Venezuela, was launched on 20 February during a ceremony at the presidential Palace in Caracas. Nicolas Maduro, the socialist leader of Venezuela, said that Petro is a kind of “kryptonite” against the U.S. government, which he sarcastically called “Superman”. During the ceremony, the President thanked two of his advisers, sitting in the front row — Dennis droujkova and Fyodor Bogorodsky, for their help in the fight against American “imperialism.”

Both men are close to the Kremlin, and linked to by major Russian banks. But not they are key figures in what is happening. According to wished to keep anonymity, a top Manager of one of the state-owned Russian banks, high-ranking advisers in the Kremlin watched the efforts of Venezuela on the orders of Vladimir Putin.

“People close to Putin, told him to pay attention to the cryptocurrency as a way to avoid sanctions. So it all started”.

The Kremlin on issues of TIME in the e-mail is not answered. With the publication contacted the Finance Ministry, and assured that “none of the Russian authorities were not involved neither in the establishment of oil pipeline or to the creation of El Petro”. Venezuelan officials did not respond to a request to comment.

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