Economies, when left alone, are about as resilient as cockroaches and much more brutal about securing themselves. The situation is a serious blow to the pride of the European politicians who look like they've been mishandling energy policy for years (where are the nuclear reactors?). But realistically they'll probably survive in practice. It'll be painful.
The issue is that somehow the West has taken Iraq 2.0 and is turning it into the prelude for a WWIII. We shouldn't be encouraging Russia and China to ally, and we should be giving Russia as many diplomatic off-ramps to calm the situation down as is humanly possible. Demonising people doesn't help. All the face-slapping that has been taking place has been unproductive.
The issue is that somehow the West has taken Iraq 2.0 and is turning it into the prelude for a WWIII. We shouldn't be encouraging Russia and China to ally, and we should be giving Russia as many diplomatic off-ramps to calm the situation down as is humanly possible. Demonising people doesn't help. All the face-slapping that has been taking place has been unproductive.