A senior politician from Venezuela's ruling party has denounced the sanctions imposed by the U.S. government against its recently launched national cryptocurrency, the oil-backed petro.
As reported by CoinDesk, U.S. president Donald Trump signed an executive order on Monday prohibiting American citizens and residents from purchasing or transacting in digital currencies issued by Venezuela.
Diosdado Cabello, vice president of Venezuela's United Socialist Party, decried the move on Twitter, saying:
According to Prensa Latina, the official state news agency of Cuba, Cabello also commented on the sanctions at a press conference in Venezuela's capital, Caracas, Tuesday.
He reportedly remarked that President Trump and the U.S. have failed to take a diplomatic path over its political dispute with Venezuela, and instead have opted for a "warlike" approach.
Since the launch of the petro pre-sale, Venezuela's president, Nicolas Maduro, has claimed the token has raked in up to $5 billion, though no evidence has been presented to back up the claim.
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