US senators insist on tougher sanctions against Venezuelan Petro

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US senators insist on tougher sanctions against Venezuelan Petro

U.S. lawmakers seek tougher sanctions against Petro

The bill with the support of us senators by Senators Bob Menendez, Marco Rubio, bill Nelson, John kornyn, dick Durbin, David Perdue, Ben Cardin, Ted Cruz, Tim Kane, Michael Bennett and Patrick Leahy wanted tighter sanctions against the state-supported cryptocurrency Venezuela ,

The bill, first submitted to Congress on September 24 and is entitled “Law on humanitarian assistance, reconstruction and rule of law in Venezuela from 2018,” applies to an Executive order signed by President Donald trump in March, which imposed sanctions against Venezuela for seeking to circumvent existing economic sanctions through Petro. In addition, it prohibits residents of the United States “to provide the software” the Venezuelan government in its quest to launch the “Petro”.

The bill says: “All transactions related to the provision of financing and other transactions by the United States or in the United States, any digital currencies, digital coins, or digital token, which was released for or on behalf of the government of Venezuela on 9 January 2018 or after that date is prohibited on the date of entry into force of the present order “.

Bill apparently seeks to provide “humanitarian aid” to the Venezuelans

This act is described as intended for “humanitarian aid to the Venezuelan people and Venezuelan migrants, to advance constitutional and democratic solution to the political crisis in Venezuela, to solve the economic recovery of Venezuela, fight against corruption, drug trafficking and money laundering, and for other purposes “.

Jerry Brito, the Executive Director or the centre of the coins, said of sanctions: “Although the attempt of Venezuela to release cryptanalyst is new, there is nothing new in the fact that the US restricts financial transactions with sanctioned countries,” adding: “the Issue of the cryptocurrency will not help Venezuela avoid sanctions “.

Official public selling Petro is scheduled for 5 November.

What is your response to the reaction of the United States government on the plans of Venezuela to launch Petro? Share your thoughts in the comments section below!

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