BRICS leaders Brazil's Dilma Rousseff, India's Manmohan Singh, Russia's Vladimir Putin, China's Xi Jinping and South Africa's Jacob Zuma
As Tariq Ali's excellent article says, "Washington knows that Ukraine has always been a delicate issue for Moscow. The ultra-nationalists who fought with the Third Reich during the second world war killed 30,000 Russian soldiers and communists. They were still conducting a covert war with CIA backing as late as 1951" adding, "The US and UK condemn him for Crimea but supported him over the war in Chechnya. Why? Because now he refuses to play ball."
Putin may not be 'playing ball', but he is playing nice, he isn't even publicly threatening to use any of his financial nuclear weapons [though who knows what's being said privately]. IMO, Russia should demand payment for its gas exports to the EU in a currency other than the US petrodollar immediately. Instead, Russia is acknowledged to be preparing the announcement of the "Holy Grail" energy deal with China, a BRICS partner, and negotiating how to join forces with Indian state-run Oil and Natural Gas Corp to supply oil to India, also a BRICS partner]. Both moves would send geopolitical shockwaves around the world and lay the groundwork for a new joint, perhaps commodity-backed, reserve currency that bypasses the dollar.
The effect of threatening Russia with economic sanctions has sped up the BRICS' time frame for achieving their goal of dumping the petrodollar…for the better. Another bombshell Putin isn't dropping [yet] is that Russia is investing massively in Treasury bonds, especially since China stopped buying them this past year. Ending that would send waves of panic through the already runaway debt laden US economy which already has a level of debt that is un-repayable. If the inflation being caused by QE's $65B per month printing of dollars were exposed by the petrodollar's demise interest rates to go up immediately, the dollar would plummet and then entire budget of the US explodes.
As well respected economist Jim Sinclair explains in the YouTube video, "The U.S. is in a hell of a mess if the world drops the petrodollar." Noting recent past events in Iraq, Libya, Iran, Syria and Venezuela Jim adds, "We [the US] will go to war over the Petrodollar.” Both Sinclair and Dmitry Orlov believe the 'US. Will Self-Destruct in Near Future' and that part of the unraveling will include the Ukraine, after realizing the IMF noose's repercussions, will have their own referendum which will result in Ukraine running back to Mother Russia and becoming part of the Russian Federation.
I'm not so sure that Russia wants to adopt the neo-nazis in Western Ukraine. IMO there will be further referendums that will result in a partitioned Ukraine. My theory is that that this new entity will remain independent of both Russia and the EU and will find that a mutually rewarding, calm, Czechoslovakian type co-operation is best for everyone. IMO, Ukrainians have a bright future ahead, partitioned or not, if they choose wisely and remain independent.