Venezuela has told oil traders it will no longer accept or offer U.S. dollars in payment for crude oil and fuels, the Wall Street Journal reports , citing sources familiar with the developments. As a result, traders have started converting dollars into euros, and PDVSA’s foreign partners operating in the country may have to switch to euros as well. At the same time, Reuters reports , Venezuela yesterday suspended the sale of U.S. currency through its Dicom auction system that President Nicolas Maduro said the government will use to switch from dollars to a basket of other currencies. The decision comes on the heels of fresh U.S. sanctions that effectively aim to tie Caracas’ hands with the issue and sale of new debt, which increases the danger of it defaulting on existing loans. As a counter move, Caracas is moving to a combination of yuans, Russian rubles, and euros […]