I think this has things the wrong way around. Russia and China have for the last twenty years been trying to break free of the dollar-centric financial system w

I think this has things the wrong way around. Russia and China have for the last twenty years been trying to break free of the dollar-centric financial system with some degree of success: both countries have, for instance, built up large gold reserves. Now Russia is using that prior preparation to engage in old-fashioned revanchism. Rather than being a move in a bigger game, I think this is Russia cashing in its chips. The potential for bad consequences for Russia in the months ahead depends to a large degree on how China reacts.