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US Senators Have Hard Questions For Treasury Secretary on Petro

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Several US senators are concerned about Venezuela’s use of the new Petro cryptocurrency to avoid sanctions
US Senators Have Hard Questions For Treasury Secretary on Petro
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US Senator Bill Nelson has joined two of his colleagues in questioning Treasury Secretary Mnuchin as to how his department plans to keep Venezuela from avoiding sanctions using their Petro cryptocurrency. The senators are “concerned by reports” that Venezuela will be able to use the Petro to avoid sanctions and bring in hard cash at a time it is desperately needed. The Venezuelan Bolivar has been in freefall for years, and the country is running low on hard assets that can be used to pay for foreign goods and debt service.

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