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19 February 2020

Venezuela's Maduro: Airlines Must Use Petros to Pay for Fuel - CoinDesk

Venezuela's Maduro: Airlines Must Use Petros to Pay for Fuel - CoinDesk


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Venezuelan President Nicolas Maduro has declared all flights out of the country must use the oil-backed petro cryptocurrency to pay for fuel.

In his annual speech to the Venezuelan Constituent Assembly, Maduro announced the state-owned oil company, PDVSA, would only accept petro for fuel sold to airlines.

In his speech, Maduro also declared that government authorities would only accept the petro for document service fees, including passport applications.

Despite Maduro's hopes to make it as widespread as the bolívar, the government said in November that only 400 businesses in the country accepted the petro.

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