Under the terms of a recent deal with Venezuela, India will get a 30 percent discount on crude oil, pay for the resource neftebazstroi cryptocurrency Petro. As reported by Business Standard, the discussion and conclusion of the transaction was entrusted to the expert group. They also failed to agree on listing Petro on the Delhi stock exchange Coinsecure.
According to exchange CEO Mohit Kalra (Mohit Kalra), the device Maduro also planned to conduct in India special conference, in which the Venezuelan President was supposed to tell more about Petro. He added that, in addition to the listing, Coinsecure will participate in the issuing Petro white-label:
“Token will participate in the circulation under their (Venezuelan government — approx. CoinMarket.News) brand, but we will be on the backend. We plan to attract to the trades Petro 10-15 players in the cryptocurrency market”.
According to statistics, the oil import in India, in the period from November 2017 to February 2018, the country received about 300 barrels of Venezuelan crude oil. The Vice-Ministry of hydrocarbons, Republic of Venezuela angel Gonzalez (Angel Gonzales) said that the government expects “huge interest” to the Petro from India and other countries. Moreover, the government of Venezuela plans to make a Petro currency by 2020.
However, Petro has earned a mixed reputation. Analytical center of the Brookings Institute believes that Petro is detrimental to the “real” cryptocurrencies. Even the National Assembly of Venezuela announced asset unconstitutional.
Recall that on the issue provided oil cryptocurrencies, the government of the Republic of Venezuela announced at the end of last year. According to the President of the country Nicolas Maduro (Nicolas Maduro), during the February presale of tokens it collected $5 billion. At this stage, the assets are distributed among the investors; the official output of Petro in the rotation will take place after presidential elections scheduled for may 20.