War is no such pursuit. Everyone loses. The victors simply suffer less than the vanquished. In Europe's last major conflict, the Allies defeated Germany. Russia's victory cost it 20-40 million lives and economic devastation, a cost indelibly etched into Russia's psyche.

War forces us to determine what we are willing to pay for the things we most value. Afghanistan's puppet regime was unwilling to pay a penny when attacked by the Taliban. Putin expected the Ukrainians to be similarly stingy. His gross miscalculation has raised costs of this conflict, drawing us all into Europe's latest senseless war.

And so, the search has begun for what each nation is willing to pay. The costs will be wide ranging and have started with energy.

"Europe consumes about 500bln cubic meters of gas per year. Russia provides 40% of that. Europe consumes about 500mm tons of oil, and Russia supplies around 30% of it, that is 150mm tons, and 80mm tons of petrochemicals on top of that," explained Putin's deputy prime minister, threatening to halt European exports.

"It is obvious that foregoing Russian oil will have catastrophic consequences for the world market. The price surge will be unpredictable, up to $300 per barrel, or even more," he added, sowing uncertainty, trying to frighten his adversaries.