Consider that India is now buying Russian oil, then exporting it to Europe – at a premium. China is buying Russian crude, refining it in China, and selling it to Europe – at a premium. And the head-choppers (Saudi's) are buying Russian oil, swapping it out for their own and selling theirs to Europe – at a premium.

Europe is the loser in all situations. They still get Russian energy, they just pay far more for it, eroding their own manufacturing competitiveness, while sending Europeans' capital to Riyadh, Beijing, Delhi and Moscow for the privilege. Swaps on oil within OPEC are already taking place and will continue.

The effect on the West of U.S. sanctions and military operations against Russia has been to lock Europe into a political and economic Iron Curtain of dependency on the United States, while driving Russia to form closer ties with the US enemies, namely China and Iran.