Venezuela is a South American country that has the largest proven oil reserves in the world and it has offered Indian Government a deal of a lifetime: a whopping thirty-percent discount on crude oil if and only if India pays Venezuela in Petro which is a state-backed virtual currency introduced by the Venezuelan Government back in February and which has recently tied-up with Coinsecure, an Indian digital currency exchange.
As per information leaked to the Indian media by sources close to the Indian government, the Ministry of Petroleum and Natural Gas is said to be seriously considering this offer and has called for a meeting with officials from the Ministry of Finance. Whether India takes this offer or not will be known not before the end of May when the Venezuelan Presidential Election will be over and a new President takes charge.