In 1977 Kissinger was invovled in establishing a system where trade i oil on nternational basis would be in US dollars. That system is still in place and tha is why Iran's sale n oil is subect to a legal threat t frozzze all dollar payments made by importing countries will be frozen in erms of a specific law passed by Comgress in 2018,
But that does not mean much because the Aotopen - or whomsover hndled it - regularly unfroze dollar assets to release monwy to Iran thus ndermining the interests of the USA anf that is what reprsents a direct thred to Russian oil exports hroughout the world,
There were also another factor in play insofar the SA and NA TO countries are concerned/ When the Russian Army invaded Ukraine in 2022 and NA TO confirmed the would support the sanctions. However intrduction fo sanctions is different from implementing it, In teh USA there were no adminstrative action to ensre snctions are implemented and the same applies to European countries, In fact the UK was one fo a few NATO memebers who dd not openly broke the snctions while the rest pretends they did. So the early sactions had zero impact on Russia - but the Russians in fac increased the price o feritilizders imorted by the USA by 400%. No problems - passing the cost to the USA cfarmers. The result as a direct reduction of farming production by 20% and inreasing shortages from time to time.
On the whole the gale sanctins under he Autopen Administration had no impact on Russian trade anmd was regarded by Putin as a joke, But today Trump announced sanctiosn against Russiana and gas and freezing of doallars iused to fund Russian oil and gas exports. Russia knew that if Trump inoduced nctins it will be implemented.
So Putin's fst reaction was that no self-respecting country should submiet it to threat against them and that the Trump action is "nfriendly". But the next sentense of Putin was different and that was "that wars should be ended by negotiations".
The ponme calls must have been immediate because Lavrov - t he Russian Foreign MInister phoned Rubio and Putin phoned Trump and now ask for meeting to settle their differences on the prce trety for Ukraine, The answer was that enxt week on Thursday Trump is meeting President Xi in in Seoul in South Korea so Lavrov must keep on his negotiations with Rubio and Trump will consider a meeting with Putin after that.
Su Trump is in the seat and Putin iw now pleading for a seat himself, Another cae where craziness is removed by real action abd Outin niws that if he does not cam to reasonable agreement Rssia would suffer because there is a consistent lement hated by the emdia and that si hen STRump sa soemthing is going to happen it will happen - somrthing nobody can accuse the Democrats of doing so. .