Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude oil in the world, U.S. economic sanctions imposed in 2019 by the Trump administration prohibit American businesses from engaging with the state-owned oil company.
The current president of Venezuela, Nicolas Maduro, is a controversial leader and just recently he’s offered to help Western nations like the United States with oil and gas. On September 14, Maduro spoke at an event organized by the Organization of the Petroleum Exporting Countries (OPEC).
The intergovernmental organization’s secretary-general visited Caracas and Maduro said Venezuela is ready to help countries deal with the erratic gas and oil market. “Venezuela is ready and willing to fulfill its role and supply, in a stable and secure manner, the oil and gas market that the world economy needs,” the Venezuelan president said at the event.
While data shows oil exports are low, Maduro was resolute that Venezuela’s Petróleos de Venezuela, S.A. (PDVSA) has “recovered.” At the same time, crude oil prices in Europe (Brent) have dropped from the June highs but are currently hovering at around $89.53 and U.S. crude oil is exchanging hands at $79.30 per barrel.
Natural gas prices in Europe have skyrocketed and remain at all-time high levels. Venezuela’s export levels are so low because of the Trump administration’s financial sanctions against Venezuelan oil, gas, gold, and food imposed in January 2019.
Last May, U.S. president Joe Biden made an exception to the rule and let Venezuela export crude to Europe to pay off debts. The Biden administration has not rescinded the sanctions imposed against Venezuelan oil and gas suppliers.
In August, Maduro abruptly stopped the oil-for-debt deal and the Venezuelan president seems to want to rekindle the arrangement. While OPEC Secretary-General Haitham al-Ghais visited Caracas, Maduro said the energy “crisis” was precarious and the sanctions against Russia are “unjustified.”
Prior to Maduro explaining that Venezuela is prepared to fulfill its role and supply the world with oil and gas needs, the Venezuelan petroleum minister Tareck El Aissami told the press that Caracas is ready and willing to help any government.
Aissami said Venezuela will supply to “any government of the world or any country, or any company of any country,” but added that U.S. sanctions stand in the way. Moreover, Aissami also spoke with Reuters and told the publication that PDVSA is fully “prepared and ready” to work with the oil giant Chevron based in California.
Haitham al-Ghais informed the attendees in Caracas that OPEC’s current challenges are “more serious, [and] more critical” than ever before. Maduro and Aissami are ready to help the West again but the U.S. may be more critical after the Venezuelan president suspended the oil-for-debt deal in August.
Venezuela is not the only country that’s been asking for sanctions to be lifted. Members of the Kremlin have explained that gas connections like the Nord Stream 1 pipeline would be revived after sanctions against Russia are removed.
Iran has also tempted the West with cheap oil as reports note that Tehran said “winter is coming” to Europe and it teased the European Union (EU) with cheap gas. Just like Russia and Venezuela, Iran wants economic sanctions lifted, according to the state-backed news outlet Mehr.
What do you think about Venezuelan president Nicolas Maduro saying that his country is ready to provide oil to the West? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
Amid the economic rumblings across the world and the energy crisis in Europe, Venezuelan president Nicolas Maduro has said his country is ready to step up and help with oil. Despite the fact that Venezuela has the largest supply of crude oil in the world, U.S. economic sanctions imposed in 2019 by the Trump administration prohibit American businesses from engaging with the state-owned oil company.
The current president of Venezuela, Nicolas Maduro, is a controversial leader and just recently he’s offered to help Western nations like the United States with oil and gas. On September 14, Maduro spoke at an event organized by the Organization of the Petroleum Exporting Countries (OPEC).
The intergovernmental organization’s secretary-general visited Caracas and Maduro said Venezuela is ready to help countries deal with the erratic gas and oil market. “Venezuela is ready and willing to fulfill its role and supply, in a stable and secure manner, the oil and gas market that the world economy needs,” the Venezuelan president said at the event.
While data shows oil exports are low, Maduro was resolute that Venezuela’s Petróleos de Venezuela, S.A. (PDVSA) has “recovered.” At the same time, crude oil prices in Europe (Brent) have dropped from the June highs but are currently hovering at around $89.53 and U.S. crude oil is exchanging hands at $79.30 per barrel.
Natural gas prices in Europe have skyrocketed and remain at all-time high levels. Venezuela’s export levels are so low because of the Trump administration’s financial sanctions against Venezuelan oil, gas, gold, and food imposed in January 2019.
Last May, U.S. president Joe Biden made an exception to the rule and let Venezuela export crude to Europe to pay off debts. The Biden administration has not rescinded the sanctions imposed against Venezuelan oil and gas suppliers.
In August, Maduro abruptly stopped the oil-for-debt deal and the Venezuelan president seems to want to rekindle the arrangement. While OPEC Secretary-General Haitham al-Ghais visited Caracas, Maduro said the energy “crisis” was precarious and the sanctions against Russia are “unjustified.”
Prior to Maduro explaining that Venezuela is prepared to fulfill its role and supply the world with oil and gas needs, the Venezuelan petroleum minister Tareck El Aissami told the press that Caracas is ready and willing to help any government.
Aissami said Venezuela will supply to “any government of the world or any country, or any company of any country,” but added that U.S. sanctions stand in the way. Moreover, Aissami also spoke with Reuters and told the publication that PDVSA is fully “prepared and ready” to work with the oil giant Chevron based in California.
Haitham al-Ghais informed the attendees in Caracas that OPEC’s current challenges are “more serious, [and] more critical” than ever before. Maduro and Aissami are ready to help the West again but the U.S. may be more critical after the Venezuelan president suspended the oil-for-debt deal in August.
Venezuela is not the only country that’s been asking for sanctions to be lifted. Members of the Kremlin have explained that gas connections like the Nord Stream 1 pipeline would be revived after sanctions against Russia are removed.
Iran has also tempted the West with cheap oil as reports note that Tehran said “winter is coming” to Europe and it teased the European Union (EU) with cheap gas. Just like Russia and Venezuela, Iran wants economic sanctions lifted, according to the state-backed news outlet Mehr.
What do you think about Venezuelan president Nicolas Maduro saying that his country is ready to provide oil to the West? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen since April 2020.
This week the U.S. Dollar Currency Index (DXY) skyrocketed to new heights leaving a great number of fiat currencies worldwide badly bruised. For instance, two days ago, the European Union’s euro tapped a 20-year low against the U.S. dollar dropping to $0.973 on Friday.
Presently, the euro is even lower at $0.9690, and it is down 2.82% against the greenback during the past 30 days. 30-day statistics indicate the yen is down 4.72%, the sterling pound shed 8.17%, and the Canadian dollar lost 4.78%. The Chinese yuan breached a 7:1 exchange rate against the U.S. dollar for the first time in two years.
However, Russia’s native fiat currency the ruble has been more resilient this year, and it started to see gains a month after the start of the Ukraine-Russia war. Toward the end of June, Russia’s ruble tapped a seven-year high against the U.S. dollar, and at the time economists said “don’t ignore the [ruble’s] exchange rate.”
This Friday, while America’s native fiat currency climbed to new heights against various currencies worldwide, the ruble climbed 4.5% against the USD. The ruble managed to do this while the DXY breached a 20-year high following the Federal Reserve’s recent rate hike. The rising ruble follows Russian president Vladimir Putin explaining earlier this week that he vows to use “all means available” to win the war with Ukraine.
There were also hints of nuclear retaliation from the Russian president, and he detailed he was mobilizing more troops. Additionally, Reuters reported during the first week of September that China would be purchasing fuel from Russia with rubles and yuan payments.
Gazprom CEO Alexei Miller told the press at the time that China paying in rubles and yuan rather than dollars was “mutually beneficial” for both partners. Furthermore, reports indicate that the Swiss Federal Customs Administration revealed Switzerland imported 5.7 tons of Russia’s gold reserves in August. The stash was worth roughly $324 million, and the Swiss have not purchased a cache that size in over two years.
The country’s customs department, however, claims that the Russian gold originally stemmed from Britain, and it further stressed that no financial sanctions were violated. Switzerland fully denied breaking any sanctions and said the 5.7 tons of bullion was originally shipped from the U.K. back in May.
While the ruble’s exchange rate against the greenback has dropped a hair, it remains at 56.87 per dollar, at the time of writing on Sunday, September 25, 2022. While 30-day stats show the euro is currently down 2.82% against the U.S. dollar, the Russian ruble is up 4.32% this month.
Investing.com’s Geoffrey Smith says the surge for cash derived from Russians withdrawing massive amounts of money from their savings accounts. Smith further claims “Russians emptied their savings accounts in the wake of Wednesday’s mobilization call by President Vladimir Putin.”
He noted, however, that the surge in Friday’s ruble withdrawals was not nearly as large as the ruble withdrawals recorded last February. “The rise in demand for rubles led to a squeeze in interbank ruble rates, pushing the currency up in a market,” Smith wrote on Friday.
What do you think about the Russian ruble’s exchange rate skyrocketing this Friday and gaining 4.32% this month against the greenback? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen since April 2020.
This week the U.S. Dollar Currency Index (DXY) skyrocketed to new heights leaving a great number of fiat currencies worldwide badly bruised. For instance, two days ago, the European Union’s euro tapped a 20-year low against the U.S. dollar dropping to $0.973 on Friday.
Presently, the euro is even lower at $0.9690, and it is down 2.82% against the greenback during the past 30 days. 30-day statistics indicate the yen is down 4.72%, the sterling pound shed 8.17%, and the Canadian dollar lost 4.78%. The Chinese yuan breached a 7:1 exchange rate against the U.S. dollar for the first time in two years.
However, Russia’s native fiat currency the ruble has been more resilient this year, and it started to see gains a month after the start of the Ukraine-Russia war. Toward the end of June, Russia’s ruble tapped a seven-year high against the U.S. dollar, and at the time economists said “don’t ignore the [ruble’s] exchange rate.”
This Friday, while America’s native fiat currency climbed to new heights against various currencies worldwide, the ruble climbed 4.5% against the USD. The ruble managed to do this while the DXY breached a 20-year high following the Federal Reserve’s recent rate hike. The rising ruble follows Russian president Vladimir Putin explaining earlier this week that he vows to use “all means available” to win the war with Ukraine.
There were also hints of nuclear retaliation from the Russian president, and he detailed he was mobilizing more troops. Additionally, Reuters reported during the first week of September that China would be purchasing fuel from Russia with rubles and yuan payments.
Gazprom CEO Alexei Miller told the press at the time that China paying in rubles and yuan rather than dollars was “mutually beneficial” for both partners. Furthermore, reports indicate that the Swiss Federal Customs Administration revealed Switzerland imported 5.7 tons of Russia’s gold reserves in August. The stash was worth roughly $324 million, and the Swiss have not purchased a cache that size in over two years.
The country’s customs department, however, claims that the Russian gold originally stemmed from Britain, and it further stressed that no financial sanctions were violated. Switzerland fully denied breaking any sanctions and said the 5.7 tons of bullion was originally shipped from the U.K. back in May.
While the ruble’s exchange rate against the greenback has dropped a hair, it remains at 56.87 per dollar, at the time of writing on Sunday, September 25, 2022. While 30-day stats show the euro is currently down 2.82% against the U.S. dollar, the Russian ruble is up 4.32% this month.
Investing.com’s Geoffrey Smith says the surge for cash derived from Russians withdrawing massive amounts of money from their savings accounts. Smith further claims “Russians emptied their savings accounts in the wake of Wednesday’s mobilization call by President Vladimir Putin.”
He noted, however, that the surge in Friday’s ruble withdrawals was not nearly as large as the ruble withdrawals recorded last February. “The rise in demand for rubles led to a squeeze in interbank ruble rates, pushing the currency up in a market,” Smith wrote on Friday.
What do you think about the Russian ruble’s exchange rate skyrocketing this Friday and gaining 4.32% this month against the greenback? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
PRESS RELEASE. SINGAPORE — 25th September 2022 — TOKEN2049, Asia’s premier crypto conference, announced that it will be showcasing a first-of-its-kind, immersive NFT experience, entitled the OP3N WHALE NFT Exhibition, at its upcoming Singapore edition from 28 to 29 September. The exhibition will be presenting NFT assets with a market value exceeding US$100 million — the first time such a collection owned by a single entity has ever been on display to the public.
The exhibition was developed by OP3N, a launchpad for IP and communities in Web3, and WHALE, the omni-versal membership club with a treasury that includes the world’s largest collection of rare, high-value NFTs spanning gaming, art, and virtual real estate.
Raphael Strauch, Founder of TOKEN2049 said: “Today’s Web3 ecosystem reflects the exciting creativity and innovation being brought by a myriad of industries by way of their growing interest in NFTs — and so much of this is taking place in Asia. We have an exciting programme for our attendees — and this exhibition is just one part.”
Showcasing creatives, brands, and curators from the region that exemplify the global dynamic of East Meets West, the exhibition will make its exclusive debut at Asia’s largest Web3 event and TOKEN2049’s largest-ever conference in its history. An estimated 7,000 visitors are expected to attend.
The exhibition includes artworks by renowned digital artist Pak, famed for spearheading Sotheby’s first-ever NFT sale; leading glitch artist XCOPY; Milanese artist duo Hackatao; and award-winning Asian-American photographer Michael Yamashita.
TOKEN2049 Singapore will also feature a rotating display of generative art masterpieces from New York City’s Museum of Modern Art (MoMA)’s permanent collection artist Brendan Dawes and Instagram photography sensation Ryosuke Kosuge. These works will be displayed at WHALE’s solo booth at the conference.
Renowned NFT collector and WHALE founder WhaleShark, said: “Non Fungible technology has ignited a global digital renaissance of art and culture, and the ability to partner with TOKEN2049 and OP3N to showcase some of the earliest and most renowned pioneers of this sector is truly an honor. The exhibition puts the spotlight on this inevitable revolution of the arts with a focus on a time-tested creative industry rather than the flavor of the month.”
In addition, attendees will be able to see OP3N’s latest NFT drop “A3”, developed by YOON and VERBAL who are behind the iconic Tokyo-based fashion brand AMBUSH®. The iconic phygital “A3” NFT will be uniquely presented in a glass display case on the exhibition floor.
“Art, culture and technology are intersecting in exciting and completely new ways, with many industry firsts taking place around the globe,” said Jaeson Ma, Co-Chief Executive Officer and Founder of OP3N, the world’s preeminent contemporary NFT experience brand. “From digital creators and traditional artists to fashion brands such as AMBUSH who’s been expanding their presence in the NFT space, we’re bringing together an incredible pool of talent to celebrate and honor their work.”
Jaeson will also be speaking on a panel on ‘The Future of IP & Communities in Web3’ on 29 September at 2:45 PM along with VERBAL who will speak more about “A3” in detail.
TOKEN2049 Singapore’s agenda will be featuring a series of discussions touching on the latest developments in the Web3 ecosystem — from the global macro narrative for crypto, the rise of Web3 gaming, the emerging social and creator economy, the future of AI and generative art, present and future Web3 infrastructure, and many more.
As part of Asia Crypto Week, TOKEN2049 attendees can expect to attend a full line-up of side events, conferences, networking events, workshops, and parties taking place throughout the week.
For more information and continued updates on TOKEN2049 Singapore, please visit: https://www.asia.token2049.com/.
TOKEN2049 Founder Raphael Strauch, OP3N Co-Chief Executive Officer Jaeson Ma, WHALE Founder WhaleShark, and AMBUSH Co-Founder Verbal are all available for interview.
About TOKEN2049
TOKEN2049 is a premier Web3 event, organized annually in Singapore and London, where decision-makers in the global crypto ecosystem connect to exchange ideas, network and shape the industry. TOKEN2049 is a global meeting place for entrepreneurs, institutions, industry insiders, investors, and those with a strong interest in the crypto and blockchain industry.
About OP3N
Founded in 2021 as a subsidiary of EST Media Holdings, OP3N imagines a world where Communities can come together to create, own, and bring their ideas to the world. OP3N’s mission is to be a Launchpad for Ideas and Communities to create meaningful experiences together. By consolidating the tools needed to mint, share and engage with NFTs and digital tokens into one vertical stack, OP3N leverages its cross-industry expertise from the entertainment, gaming and tech ecosystems, to lay the foundations for a new era of community-driven, inclusive entertainment while bringing everyone together on a journey into Web3. For more information, please visit: https://op3n.world/
About WHALE
WHALE is the omni-versal membership club for the natively digital, focused on immersing WHALE Members in the renaissance of digital art and culture. Powered by the club’s native social token, $WHALE, and the club treasury, the WHALE Vault, WHALE delivers physical and metaversal content, information, and experiences for a new generation of digital enthusiasts. Established in 2020 by the pseudonymous WhaleShark, WHALE boasts over 25,000 members worldwide, all focused on the longer-term discussion and immersion of Web 3 and the revolution of true digital asset scarcity, ownership, and management.
About AMBUSH®
AMBUSH® began as an experimental jewelry line – innovative pop art-inspired designs capturing a distinct Tokyo aesthetic. With apparel created as a canvas to complete the story, AMBUSH® evolved into designing unisex collections. The brand made its Paris debut in 2015 with YOON & VERBAL being listed as two of Business of Fashion’s Top 500 people influencing the global fashion industry for 5 consecutive years from 2015, and HYPEBEAST 100 list for 8 consecutive years. In 2017 AMBUSH® was selected as one of the top 8 finalists for the LVMH PRIZE. In 2018, AMBUSH® debuted at Amazon Fashion Week Tokyo. In the same year, Kim Jones named YOON as jewelry designer for Dior Men. In 2022, AMBUSH® presented the brand’s first runway at Milan Fashion Week and launched its proprietary metaverse SILVER FCTRY. Its first POW!® NFT collection sold out in minutes, ranking it among the top 10 projects on Opensea, and the second most transacted NFT from Japan at the time of its debut.
Media Contact
Melissa Esguerra
token2049sg@wachsman.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse
United Arab Emirates (UAE) airliner, Emirates, has announced plans to launch non-fungible tokens (NFT) and experiences in the metaverse for its workers and customers. The launch aligns with UAE's digital economy and virtual assets initiatives. First Projects Already Underway The ... read more.
Source From : News