TIME: Russia Secretly Helped Venezuela to Launch Cryptocurrency to Evade the US sanctions

A well-known American publication TIME published a material where it claims that the Russian government and representatives of the country’s business took an active part in the launch of the national Venezuelan cryptocurrency – El Petro.

TIME states that its information comes from its own sources which are anonymous officials. According to them, the president of Venezuela, Nicholas Maduro, was advised by Russian billionaires directly connected with the Kremlin. It is assumed that, having gained the support of President Putin, they were responsible for developing El Petro.

The publication reveals the names of the two of these people: Denis Druzhkov and Fyodor Bogorodsky. According to the information from the anonymous authors, they were behind the development of El Petro.

But behind the scenes, the petro was in fact a collaboration — a half-hidden joint venture between Venezuelan and Russian officials and businessmen, whose aim was to erode the power of U.S. sanctions, sources familiar with the effort told TIME.

The new cryptocurrency, supposedly connected with the value of Venezuela’s oil reserves, was launched on the 20th of February during a ceremony at the presidential palace in Caracas. Nicolas Maduro, the socialist leader of Venezuela, said that it would be a kind of kryptonite against the power of the US government, which he sarcastically called “Superman”. The two Russian advisers of Maduro, Denis Druzhkov and Fyodor Bogorodsky, were sitting in the first row at the ceremony, the president thanked them for the help in the fight against American “imperialism.”

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