Oil traders of Venezuela has banned payments in dollars

Photo: Bigmir.net oil Traders of Venezuela switching to the Euro

Venezuela may move from dollars to euros when selling oil.

The Venezuelan government banned the exporting of oil to conduct calculations in dollars, writes The Wall Street Journal, citing sources

It is reported that the traders began to transfer the payment in euros.

“The state oil company PDVSA, has turned to its partners in the private sector that they have opened accounts in Euro and converted existing funds into this currency”, – writes the edition.

With this measure the government hopes to circumvent U.S. sanctions, the newspaper notes.

Earlier, the President of Venezuela, Nicolas Maduro announced the intent to create a global currency, which could serve as an alternative to the dollar.

As reported, the U.S. imposed new sanctions against Venezuela and its oil companies .

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