Now the head of the European Central Bank, Mario Draghi, is confirming that European gas buyers are paying for energy in Russian rubles. Draghi now says that “most gas importers” have opened up Ruble accounts with Gazprom and have acquiesced to Russian demands.
One after the other, European gas buyers are violating the EU’s sanctions against Russia, as Western tough talk becomes nothing but a mere echo of weakness. The world’s reserve currency – the U.S. dollar – is taking a historic blow in the process, as Russia circumvents the petrodollar.