Economic Vice Presidency Press 11.20.2019.- The President of the Bolivarian Republic of Venezuela, Nicolás Maduro, approved a total of 30 million barrels of crude oil and/or petroleum products to the National Superintendence of Cryptoassets and Related Activities (Sunacrip). This event was held after signing the certificate of allocation of resources from PDVSA, in order to support the commercialization in Petro.
The Head of State stressed “we are building the material, financial, monetary and legal base of Petro. We are building the way of the future monetary life of humanity. We are doing this as a necessary response for the growth of the commercial, economic and investment activity of Petro.” He added that Petro has a solid material base of 5 billion oil barrels, the only cryptoasset in the world that has such a big source of wealth. "5 billion oil barrels belong to Petro by supreme decree of the government, that is, 350 billion dollars with legal support by decree approved by the National Constituent Assembly constituting the wealth not only of oil, but of iron, steel, gold and diamond, which give the Petro its strength."
President Maduro also said that "Venezuela has a liquid, material, and physical oil barrels reserve to support the operations of the sovereign cryptoasset, Petro, certificate issued in Caracas, on November, 20th, 2019. Signed by Nicolás Maduro Moros.” Finally, the Head of State stressed that "we are going to the end with Petro, searching for the prosperity of the people."