We should also not forget that Russia has something else that is traded and that the EU cannot survive, and that is nuclear fuel.
That's not really such a big problem.
There are only 4 states which depend on those, Bulgaria, Hungary, and the Slovakia Czech Republic duo, with less than 10GW, and furthermore, Westinghouse can produce the fuel, is just that all these countries have contracts with Russia and the replacement of fuel was already planned.
Allow Romania to restart all its coal powerplants and there you go, 12 GW capacity with interconnection just in the middle of the problem.
Nuclear fuel will be easy, oil will be tricky, gas is the problem!
I know that oil prices are a major factor for the inflation,but the global oil prices were moving in the 110-140 USD range during the war in Iraq(2003-2007) and there wasn't such gigantic inflation everywhere around the world back then.There's something wrong with the global economy.
There was less trade being done at that time, look for example
the volume in shipping, the war didn't come after a lockdown that fucked the logistic chain forever and still keeps 1/4 of China messed up, and more important that was Irak, it wasn't a clash at the door of the second economy if we count EU as a whole.