I was waiting for PM Putin to do something real against US.
As usual he chose the currency. A lot of the US power is based on the fact that the US Dollar is the de facto reserve currency of the world. A hit o the US Dollar reserve status would have consequences barely imaginable.
It would be a world order change.
On April 10, Bloomberg announced that Gazprom (the mega Russian oil conglomerate, practically “owned” by Putin) is considering a Yuan issuance of Bond.
Also on April 4, Pravda has announced that the Government is considering accepting payments for its gas supplies only in Rubles. Interesting proposal hard to enact as Reserve Banks would need to create reserves and contracts are pretty long. It could be easier for them to switch to Euro, or to Yuan, if China agrees.
In May 2014, the President of Russia, Kazakhstan and Belarus will sign a deal that will create a new currency (the Altyn) by 2025.
Logically the Americans do not stand and watch threatening to offer gas to Europe. But the threat is mainly in words as to organize the infrastructure and technological differences could be accomplished in a few years.
Per converse Gazprom is closer to sign a deal for a gas pipeline extension to China.
Meanwhile is the Eastern Ukraine pro Russian rebels (most likely backed by Spetznaz, Russian Special Forces) is confronted Ukrainian Military (backed by Greystone Inc US mercenaries (the infamous Blackwater of Afghan and Iraq scandals).
Definitely a more subtle version of the cold war
