Venezuela - Russia-Iran cooperation around gold-backed stablecoin could signal next steps for Venezuela’s Petro

The Petro was supposed to be an oil-backed stablecoin for Venezuela. It could see a revival.

Last week, news came out that Russia and Iran were exploring the possibility of designing a gold-backed stablecoin for cross border payments. That has implications for Venezuela, a key Russia ally in Latin America.

Anatoly Aksakov, a Russian lawmaker, visited Tehran and introduced the idea to members of the Iranian government. He told Interfax that the p…