Russia produces 11.300,000/bbls of oil a day and a lot of natural gas.
Biden’s energy EO has been worth nominally $90bilion/yr in oil alone revenues to him.
He wants climate hoax oil energy prices. He doesn’t want to go out begging for global production cuts as he was under MAGA oil previously.
Russian oil production is about 9.5 mbpd, but your essential points are correct.
Russia sinks or swims on the price of oil.