19:52 GMT +315 October 2019
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    Venezuela's President Nicolas Maduro speaks during a meeting with businessmen in Caracas, Venezuela January 9, 2017

    Venezuela Plans to Drop US Dollar in Gas, Oil Trade

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    Venezuelan President says that the country is going to trade in oil, gas and gold using currencies other than the US dollar.

    CARACAS (Sputnik) — Venezuelan President Nicolas Maduro said Friday his country was going to trade in oil, gas and gold using currencies other than the US dollar, in response to Washington’s new financial sanctions.

    "I have decided to start selling gas, oil, gold and other commodities sold by Venezuela using other currencies, including the Chinese yuan, the Japanese yen, the Russian ruble, and the Indian rupee," he said in a televised address.

    The president again accused Washington of using illegal monetary and trade practices to destabilize the national economy and usher in a change of power. Venezuela has been suffering from low oil prices and major shortages of food and medicine.


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