That works fine if you have all of your assets, bank accounts, investments and accounts receivable under control and within your own borders.
Anything you hold on the outside is free game to international courts or the countries you who control them within their borders.
It's tough being dependent on international trade or sales when your trying to cheat outsiders out of their assets, contracts and the money you rightfully owe them with all of that money flying around the world as payments for oil deliveries.
Mr. Chavez is only in control of the country he was elected in. He is not an international policy maker. Regardless of what he thinks.
Of course... that's just my opinion.