The head of Russia’s Finance Ministry state debt department, Konstantin Vyshkovsky, told reporters that Venezuela had not offered to pay some of the amounts from newly launched oil-backed petrol cryptocurrency for using the petro.

The deal between countries allows Caracas to make “minimal” payments to Moscow over the next six years. The deal assumes that Venezuela will pay Russia back a $3.15 billion over a 10-year period.

The reason why Konstantin Vyshkovsky mention this is that Russia secretly helped Venezuela launch a petro cryptocurrency to evade U.S. sanctions, as was earlier published in the exclusive article by Time Magazin. Russian president Vladimir Putin described that process as “a collaboration” between the two nations.

Deputy director of the Information and Press Department of the Foreign Ministry Artyom Kozhin criticized the information in the media denying that a meeting between Russian Finance Minister Anton Siluanov and Venezuelan minister of economy and finance Simon Zerpa was related to cryptocurrencies.

Venezuelan President Nicolas Maduro still trying to pull out the country from the economic disaster. He thinks that country will be saved with newly launched oil-backed petrol cryptocurrency. The president announced that they had raised $735 million in the first day of a pre-sale in February and more than $5 billion to this day. But there is no official or non-official evident of how much money they are actually raised. And it still unknown how Venezuela will pay Russia its debt.