Russian bank helps Venezuela defy US sanctions on cryptocurrency

The world’s first state-backed digital currency ‘el petro’ launched by Venezuela this year to circumvent US sanctions is reportedly getting help from a Russian bank.

According to Associated Press, Russia’s Evrofinance Mosnarbank has become the first international financial institution so far willing to back the petro after US authorities warned potential investors over related risks. Read more.

RT

Related,
- Russia bank helps Venezuela defy US cryptocurrency sanctions - AP
- Venezuela’s Oil-Backed Crypto Petro Grows Thanks to a Little-Known Russian Bank - CCN