Petro under direct sanctions signed by U.S. President

Donald Trump has signed a new executive order which prohibits engagement with Petro and all other Venezuelan state-issued cryptocurrencies issued after 9 January. This marks an important event after which the advices from the White House turn into actual documents.

Bitnewstoday has already described the reaction of American officials to Petro twice: first it was a reminder from the U.S. Treasury that Venezuela is already under sanctions and shortly afterwards, various American officials started to ask the authorities if they can block Petro explicitly. Among them were senator Marco Rubio, Bob Menendez and one of the official representatives of the State Department of the United States.

Therefore, it was only a matter of time before Trump signed a document which not only makes it harder for Venezuelan authorities to raise money, it also blocks any potential alternatives for Petro that Chavismo might try to use to evade sanctions again.

Petro is a token that has been issued under direct guidance of Nicolas Maduro, leader of Venezuela whose governance methods can be called controversial. Citizens suspect fraud on the state level.

Image courtesy of Getty Images