Ridiculous... yeah, it is all insanely ridiculous.
Who's to say what is really going on behind the scenes. It is all speculative whatever is said.
To me it looks to be the time for the dollar to end. The U.S. to be finished as the fat cat. Pendulum has been swinging toward Russian/China dominance for some time.
Whatever threats Bush/EU comes up with has no bones to support it.
If a major oil field have been opened up in Russia, Putin knows he is a much better position to call the shots. And having control over the pipeline that feeds the EU is primary import
Note that the response to Bush's demand that Russia fall in line in order to be accepted as part of G-8. Putin's response: Russian does not need America, America needs Russia as a partner.
The business execs and the international bankers on the top will make out whatever the outcome. Just more of the same... the matrix continues...