Reuters | Enter the 'petro': Venezuela to launch oil-backed cryptocurrency Reuters CARACAS (Reuters) - Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S.-led financial sanctions, announcing on Sunday the launch of the “petro” backed by oil reserves to shore up a collapsed economy. Venezuela ... Venezuela Is Losing Its Best Oil Buyer Venezuela Arrests 2 Former Oil Officials, Claiming Corruption Nicolas Maduro is cracking down on rivals and Venezuela's oil industry could take a big hit |