Venezuela’s PDVSA turns to Tether to navigate US sanctions, aiming to safeguard oil transactions despite global skepticism and concern over reliance on intermediaries.
Venezuela’s Response to Sanctions
In a strategic maneuver to circumvent US sanctions, Venezuela has opted to employ cryptocurrency, specifically Tether (USDT), for its international transactions, primarily for its state-run oil company, Petróleos de Venezuela (PDVSA).
With traditional economic avenues closed off by the US sanctions, Venezuela has shifted its focus to cryptocurrency, specifically Tether (USDT), to conduct international transactions, especially for oil sales.
This strategic move aims to mitigate potential disruptions caused by sanctions. It aligns with the global trend of integrating cryptocurrency into international trade, even though it’s still in its nascent stages.
US Pressuring Venezuela For Electoral Reforms
The US recently enforced sanctions targeting Venezuela, aiming to restric
We współpracy z: https://cryptodaily.co.uk/2024/04/venezuela-leverages-tether-to-bypass-financial-sanctions
