The United States Treasury Department has added Moscow-based bank Evrofinance Mosnarbank to its sanctions list, alleging it was the “primary international financial institution willing to finance” Venezuela’s controversial national oil-backed cryptocurrency, Petro (PTR). The news was announced in an official Treasury press release published on March 11.
In its statement, the Treasury accused Evrofinance — which is reportedly jointly owned by Russian and Venezuelan state-owned companies — of materially assisting efforts to launch the cryptocurrency, which it characterized as a “failed” project:
Continue Reading on Coin Telegraph