Petro aid from Russia to Venezuela

It is alleged that Russian government officials and businessmen helped Venezuela to launch Petro, the first state-sponsored crypto currency in the world.

According to Time, the Russian government officials and businessmen helped Venezuela to launch the world's first state-sponsored crypto-currency, Petro.

The news, based on officials who know well but whose name is not disclosed, is set out for the efforts of billionaires Dennis Druzhkov and Fyodor Bogorodsky's Venezuelan president Nicolas Maduro to build Petro. It is also reported that senior Kremlin consultants oversee the development of Petro with the support of Russian President Vladimir Putin.

"Behind the scenes, Petro was actually a semi-cooperative venture between the Venezuelans and Russian authorities and businessmen to lift the power of US sanctions."

Meanwhile, the Russian government rejected these claims and the Venezuelan authorities did not respond to a request for comment, saying that none of the Russian financial authorities participated in the production and development of Petro.