CARACAS (Reuters) – Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S.-led financial sanctions, announcing on Sunday the launch of the “petro” backed by oil reserves to shore up a collapsed economy.

Venezuela’s President Nicolas Maduro speaks during his weekly radio and TV broadcast “Los Domingos con Maduro” (The Sundays with Maduro) in Caracas, Venezuela, December 3, 2017. Miraflores Palace/Handout via REUTERS

The leftist leader offered few specifics about the currency launch or how the struggling OPEC member would pull off such a

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