From Irwin Stelzer in today’s Times:
Putin’s goal is not the mere profit maximisation that guides decision-making in market economies. It is to gain influence over the foreign policies of European countries and, to a lesser extent, America. He has already shown that he is willing to cut off gas to Europe, and cooperates with Opec to damage the American economy by keeping oil prices high. A nuclear umbrella prevented the Soviet army from rolling across Europe, but it is no match for supply cut-offs that can throw western economies into recession.
Complete article – “Don’t let Russia turn gas into a new weapon”