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Venezuelan President Nicolás Maduro introduces a new virtual currency called the Petro, backed by the country's oil, gas, gold, and diamond resources. This move is an attempt to alleviate Venezuela's economic crisis, which has been compounded by falling oil revenue and the devaluation of the bolivar. The Petro is seen as a means to overcome financial sanctions and enhance monetary sovereignty in the face of a perceived blockade by the United States.
Saturday, 2 December, 2017