This should really be called the 1st Gazprom war. Its the clique around Putin, not the ‘state’, that seeks to control energy supplies. The energy mafia controls the ‘state’ and the army. These people are into extortion capitalism; territory, politics etc are just means to that end. So we need to re-define ‘Russia’ as a concept and throw out all the old commie baggage.

The weak point is perhaps Gazprom shares, down 50% since June. But wealthy Russians keep their money in Switzerland these days – wonder why?