Venezuela stops using US dollars in oil trade

‘Venezuela has reportedly stopped using US dollars in its oil trade activities in a move which could be meant to keep the country immune to Washington’s economic penalties.
The Wall Street Journal quoted sources familiar with the situation as saying that Venezuelan authorities have told oil traders that the country would no longer make or accept payments for oil deals in US dollars.
Oil traders who export Venezuelan oil or import petroleum products have already begun to convert invoices to euros, the media outlet reported.
According to the Wall Street Journal, Venezuela made this decision in a response to the US sanctions introduced last month. The Ministry of Petroleum of Venezuela has not yet commented on the report, added the report that was also carried by Russia’s Sputnik news agency.’
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