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Report: Russia behind Venezuela's cryptocurrency

President Donald Trump at a White House meeting. Photo: Win McNamee / Getty Images

Russian government officials and businessmen helped Venezuela launch the world's first state-issued cryptocurrency last month, which is intended to help sidestep U.S. sanctions on Venezuela, TIME reports, citing anonymous officials familiar with the issue.

The backdrop: TIME's report comes a day after President Trump signed an executive order prohibiting U.S. citizens from buying the newly created 'Petro.’