"In many ways, it was Western countries that pushed Russia to take such a step because European companies’ suspension of trade with Russia led to a sharp decline in imports, and
when there are no imports of goods and services, there is no need for the euro as a means of payment, Director of BCS World of Investment’s regional network for high-end clients Grigory Sosnovsky emphasized."
Told ya. Toilet paper. Useless IOUs which cannot buy anything. They renege on the IOUs the Russians have. And propose to hand out more IOUs.
Do you know before 2014 which were the main imports Russia had from the EU?
It was food, medicine, and vehicle parts. The counter sanctions Russia put on the EU after their sanctions in 2014 stopped Russian imports of food from the EU. Russia made massive investments since to decrease dependency on medicine purchases from the EU. And the EU just basically banned vehicle part sales to Russia. First with the sanctions on sale of aircraft parts. And now with freezing sales of car parts. Also motor vehicles. Keep going down the list and EU imports by Russia are simply not significant. The EU just eliminated its usefulness to Russia with their stupid sanctions. Bye bye.
This is what they trade in 2021.
Notice the heavy trade inbalance. And how the EU just cut a substantial part of their exports to Russia. Who do you think loses the most if trade is totally shut down?