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Message: <blockquote data-quote="ibnanv" data-source="post: 22402143" data-attributes="member: 218596">Venezuelan President Nicolas Maduro announced his  government will sell oil and other commodities in currencies like the  Indian rupee, Chinese yuan and Japanese yen, in a bid to weather  US-imposed sanctions on the embattled country.<img src="http://images.financialexpress.com/2017/09/oil-reuters-2.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />The country has to make USD 3.8 billion in debt payments in October and  November, while its foreign currency reserves have sunk under USD 10  billion. (Representative Image: Reuters)Venezuelan President Nicolas Maduro announced his government will sell oil and other commodities in currencies like the Indian rupee, Chinese yuan and Japanese yen, in a bid to weather US-imposed sanctions on the embattled country. “I have decided to start selling oil, gas, gold and all other  products that Venezuela sells with new currencies, including the Chinese  yuan, the Japanese yen, the Russian ruble, the Indian rupee among  others,” he said during a television broadcast. “A economy free from the  US imperialist system is possible.” Washington’s tough new sanctions on Caracas bar US banks from trading  in new bonds issued by the government or the state run oil company  PDVSA. The goal is to restrict Venezuela’s access to vital bond and  equity markets. The aim is to “deny the Maduro dictatorship a critical source of  financing to maintain its illegitimate rule,” the White House said. Maduro railed that they amounted to a financial and economic  blockade, as ratings agency Fitch downgraded Venezuela and warned  default was now likelier. The country has to make USD 3.8 billion in debt payments in October  and November, while its foreign currency reserves have sunk under USD 10  billion.</blockquote>

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