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Venezuela Ditches US Dollar
Venezuela has ditched the US dollar saying they will use euro for international transactions.
The country’s Vice President for Economy Tareck El Aissami announced that all future transactions on the Venezuelan exchange market will now be made in euro.
Last month Venezuela announced that it would no longer accept the petrodollar as payment for its crude oil exports.
President Nicolas Maduro said then that his country would be seeking to “free” itself from the U.S. dollar.
RT reports: The sanctions, recently introduced by Washington against Caracas, “block the possibility of continuing to trade using the US dollar on the Venezuelan exchange market,” El Aissami said, adding that the American restrictions were “illegal and against international law.”
#ANUNCIO || Vicepresidente Sectorial de Economía @TareckPSUV: Todas las transacciones del mercado nacional, incluyendo las subastas de @dicomve, van a estar referenciadas con euro, yuanes o cualquier otra moneda convertible. #RegionesEstratégicasProductivas pic.twitter.com/jVYeoM4Aj3
— Vicepresidencia Vzla (@ViceVenezuela) October 16, 2018
The American “financial blockade” of Venezuela affects both the country’s public and private sectors, including pharmacy and agriculture, and shows “just how far the imperialism can go in its madness,” the vice president said.
