Agree the Petrodollar issue doesn't help at all. The state oil company (PDVSA) is in financial trouble too. You know it's bad when the Chinese and Russian's don't even want to take over major oil refineries like Paraguaná. There are $9 billion in bond payments coming up this year - it will be interesting to see if Venezuela defaults and what the consequences will be.
The Petro coin seems nothing more than a way for Venezuela to continue selling national debt to international investors.