My gut feeling is, that the EU, without any commodities, has a single choice: kick the Russian gas habit immediately, and force Russia to kill their western gas fields. Then pray they collapse in the next few years.

If the EU keeps paying - Russia's new Gazprom central bank controlled RuskiEuro reserves will stabilize its economy and it will rise like a phoenix from the ashes. Even if we kick the gas habit, this might still happen if Putin keeps his thumb on public sentiment enough.

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