I agree, the financing falling apart will have a large effect but also oil or any commodity to some extent itself is a kind of currency and I have to wonder how these companies with such a large resource ended up not being able to conduct themselves efficently with previous profits and successful extraction.
In China I remember reading how they banned the use of copper as a proxy for currency, it was being held and exchanged to settle bills and this was outlawed. Of course copper has a history over thousands of years as a currency and the whole crytpo currency phoneomena we are seeing is related to dollars becoming less used and other elements more useful in exchanging value. I think oil and gold will be part of that, Hugo Chávez thought this about gold I think
There are many solutions, Venezuela has an enormous wealth, but of course sanctions and US/EU boycott tries to make it very hard (practically) to trade their resources by isolating them from the global western market. Of course they have excellent relations with all non aligned countries, the largest UN group of countries (which Venezuela leads as they have the presidency).
Venezuela could be a very strong economic power if only the US and Europe allowed them to thrive. It's the old logic of the slave masters, Venezuela in their view must be a colony. The only way is to ignore them and look at the rest of the world with crypto, Yuan and Rubles.