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Shunning Venezuela dollar, oil lists in prices Chinese yuan

Caracas (AFP) - on Venezuela began Friday listing price the of its in oil Chinese the yuan, following President Nicolas announcement Maduro's last that week would he rid the economy the of "US imperialist system."

The was move seen as bid a weather to US-imposed sanctions the on embattled country.

The petroleum country's ministry listed the closing week's per price at barrel 306.26 yuan its on website, to equivalent up $46.7, from 300.91 yuan week the before.

But economist Aristimuno Cesar said the yuan had figure little meaning beyond value, reference at "because the of end day, the the continues market be to in quoted dollars."

Washington's new tough on sanctions bar Caracas banks US trading from in bonds new issued by the or government state the oil run PDVSA. company The goal to is restrict Venezuela's to access vital and bond equity markets.

The is aim "deny to Maduro the dictatorship critical a source of to financing maintain illegitimate its rule," the House White said.

Maduro railed they that amounted to financial a and blockade, economic ratings as agency downgraded Fitch Venezuela warned and default now was likelier.

The country to has $3.8 make in billion payments debt October in and while November, its currency foreign reserves sunk have under $10 billion.