India says no plans for oil trade with Venezuela using ''petro'' cryptocurrency
)
06:21 PM IST
India said on Monday it had no plans to use Venezuela`s local cryptocurrency `petro` in oil trade with the Latin American nation, which is facing sanctions from the United States.
Responding to a question at a news conference, India`s Foreign Minister Sushma Swaraj cited an order by the country`s central bank saying it did not allow trade using cryptocurrency.
Venezuela, whose oil output is falling under pressure from the U.S. sanctions, is offering discount on oil sales done in `petro`.
Indian media earlier reported that Venezuela had offered as much as 30 percent discount on oil sales to Indian refiners provided they traded in `petro`.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
8th CPC Salary Calculations: Are you Level 3-10 central government employee? See your estimated revised pay at 2-2.50 fitment factors (detailed tables)
)
444-Day Special FDs: SBI, BoB, IOB & Indian Bank—Which fixed deposit scheme offers highest return on your Rs 6.25 lakh or Rs 7.25 lakh investment
)
Top 7 ETFs With up to 49% Return in 1 Year: Rs 2,99,999 one-time investment in No.1 exchange-traded fund has jumped to Rs 4,45,529
)
Top 5 Smallcap Mutual Funds with Highest SIP Returns: Rs 15,000 monthly investment in No. 1 fund has grown to Rs 20.17 lakh in just 5 years
06:21 PM IST