EU Soros/Schwab puppets already said they don’t want Russian oil or gas and won’t use it anymore in the future.
So their wishes are being fulfilled.
Germany’s finance ministry said: ‘The outlook for the further development (of the economy) is noticeably gloomy.’
You vill eat zee boogs.
Russia is already taking the blame for the pain inflicted on European consumers - this just makes it explicit. The mask is off, and no more pretending to be a reliable provider.
Like bombing civilians, the initial effect of energy cutoff is terror, but then opinion stiffens against the bombers.
Putin has had his run at bullying the Europeans with his energy weapon, and driving up prices. He has shot his wad - nothing further to restrict.
He has cut the flow off - and natural gas spot prices dropped a bit in response. Both oil and gas prices on the spot market for European delivery are down solidly from their wartime peaks. The replacement for Russian oil, gas and coal imports is already well planned, fully funded and ahead of schedule. The uncertainty in minor now compared to back in March, or even June.
Bottom Line: The energy weapon not only failed to divide the West and force withdrawal of support to the Ukraine - it has backfired. European public opinion has so hardened against Russian aggression and bullying, that it is now politically impossible for European politicians to pull support from the Ukraine.
Russian gas revenues were throttled off, as the flow to Europe was throttled off. The bills that used to be paid with that revenue, will now have to paid with newly printed rubles instead.
Oil is the last gasp of Russian financial solvency, and all the players know it. So Russian oil revenue is the main target, and December 5th is D-Day.
After oil revenues collapse, comes the deluge.