Venezuela drops US dollar, will use euro for international transactions

Tuesday, October 16, 2018
By Paul Martin

RT.com
16 Oct, 2018

Venezuela is abandoning the US dollar, with all future transactions on the Venezuelan exchange market to be made in euro, Tareck El Aissami, the country’s Vice President for Economy, announced.

The sanctions, recently introduced by Washington against Caracas, “block the possibility of continuing to trade using the US dollar on the Venezuelan exchange market,” El Aissami said, adding that the American restrictions were “illegal and against international law.”

The American “financial blockade” of Venezuela affects both the country’s public and private sectors, including pharmacy and agriculture, and shows “just how far the imperialism can go in its madness,” the vice president said.

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