Its been coming for a long time. What are the actual consequences going to be. Wars have already been fought and governments toppled to maintain the advantages held by the U.S in having oil traded in $ and the ability to create infinite money from nothing on the basis that the $ is the world reserve currency. That's changing and changing fast. Added impetus being added by the U.S dictating who can trade with who and imposing sanctions where it feels like it and fining institutions along with threats of 'you will not be able to use the dollar system' if they do not comply. http://www.zerohedge.com/news/2014-08-27/gazprom-begins-accepting-payment-oil-ruble-yuan
There will be no consequences. America is now drowning in oil thanks to shale deposit out west. We have more petroleum than the Saudis. The U.S. is now in the process of putting in place the infrastructure needed to facilitate the export of all of this oil to the rest of the world. this is what's behind the rise in the dollar and precipitous fall in gas prices. So, those guys can trade however they want. Truth is they are going to need every dollar they can find pretty soon. Where good to go!
