Imagine for a moment that the whole of Europe remembered its warlike roots, raised a sword and (OH GOD) sent the Russian Federation the fuck with its blackmail.
The EU has a very strong economy, so much so that it is even difficult to imagine. They will start intensely looking for options for alternative sources of energy. The EU can do this even without a large price increase, and with little detriment of the economy.
Bottom line: the population of Europe will hardly feel Russian blackmail. The inhabitants will be somewhat dissatisfied with the current situation, and the EU will lose some small percentage of money. Many countries have already prepared and filled their vaults to the brim.
And the Russian Federation in this situation loses its last trump card, remains without its main source of cash flows during the huge economic losses from the war… To be continued.
This takes political will.