Russia says Venezuela has not offered to repay debts in cryptocurrency
Reuters
Published Mar 27, 2018 09:02AM ET
Russia says Venezuela has not offered to repay debts in cryptocurrency
MOSCOW (Reuters) - Venezuela has not offered to repay part of its debts to Russia using the country's cryptocurrency, Konstantin Vyshkovsky, head of the finance ministry's state debt department, told reporters on Tuesday.
Venezuelan President Nicolas Maduro said last month that the newly launched oil-backed petro cryptocurrency had raised $735 million in the first day of a pre-sale. The new tool is aimed at pulling the country out of an economic tailspin.
Russia and Venezuela last year signed a debt restructuring deal allowing Caracas to make "minimal" payments to Moscow over the next six years. Under the deal, Venezuela will pay Russia back a total of $3.15 billion over a 10-year period.
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Written By: Reuters
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