Cryptocurrency

13/03/19 09:00 UTC-4

Sanctions against Moscow bank EuroFinance, the "main" investor of the Venezuelan Petro

Sanctions against Moscow bank EuroFinance, the
Sanctions against the investor of the Venezuelan Petro

Recently, the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury announced about sanctions against EuroFinance Mosnarbank.

The reason is that the bank provided financial support to "the non-legitimate regime of the former president Nicolas Maduro", and that the bank is considered the main investor of the national Petro cryptocurrency.

Interesting in the section: Petro – Venezuelan cryptocurrency. Token features

 

Sanctions against the bank

The announcement was made in the form of a press release, which reported on the application of sanctions against the Russian bank, because it provided financial, material and technological support, which has long been a means for corruption, waste and money laundering by Maduro and his minions.

While support for the Maduro regime is the cause of the sanctions, the announcement also states that EuroFinance was the main international investor of the Petro Venezuelan cryptocurrency.

From the press release: "When the failed Venezuelan cryptocurrency, called Petro, was launched in 2018, EuroFinance became the main international financial institution willing to finance Petro. The first investors in Petro were asked to buy cryptocurrency by transferring funds to the account of the Venezuelan government in EuroFinance. EuroFinance’s participation in Petro showed Maduro’s hope that Petro would allow Venezuela to circumvent US financial sanctions."

Interesting in the section: Kyber Network, as a combination of several advantages

Sanctions against Moscow bank, investor of Venezuelan Petro. Even though Petro is considered a "failure", it is unclear what future it is waiting for. But it seems that cryptocurrency is not taken seriously even in Venezuela, and other crypto such as Bitcoin are used instead.

Editor: Pereyidenko Ihor

See also: "TRON approached $ 44 million overtaking EOS and Ethereum"

#Petro #cryptocurrency #sanctions #bank

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