Gas can still flow from Russia to Europe through the "Turkish Stream" pipeline to Moldova, but no longer via Ukraine, which will reduce gas imports to the EU by about 14 billion cubic meters. According to the latest estimates, Russia will lose about 5 billion euros annually from gas that was previously transported through Ukraine. In this context, the loss of 5.2 billion dollars from gas sales without a transit deal could reduce Gazprom's and Russia's revenues by 6.7%.
But here’s what will happen next!
People will truly suffer, freeze, and Russia’s propaganda will take advantage of this, spending billions of dollars on global publications, TV, and social media propaganda. If you didn’t know, global publishers sell commissioned articles for 5 million bucks each. After this, they, the Russians, and specifically Putin, will see the situation and make decisions on what to do next. Then, they’ll either decide to supply gas through Turkey, or it won’t matter because summer will come.