They did it right. Their currency have no value.
But Oil has a value. They are just tokenizing their oil and hence making it free from the fluctuation of their currency.
This way they'll profit, their customer will profit and the only one at law is the tyrannic rule of IMF.
Yeah, but due to political reasons and economic crisis they are losing their trading partners, which makes them unable to increase the usability of Petro and stabilize oil prices.
Also, The decision by ConocoPhillips to seize the Caribbean assets of PDVSA, Venezuela's state-owned oil company, has established a dangerous legal precedent that could swamp the South American country's already impoverished oil monopoly under a wave of similar claims and cut deeply into its ability to operate
Read more here:
http://www.miamiherald.com/latest-news/article210820589.html#storylink=cpy