Many observers rub their eyes in amazement. What does Russian President Vladimir Putin want to achieve by now paying for gas in rubles? All sorts of half-baked attempts at explanations can be read, for example that this is intended to support the ruble. At the same time, there is a growing demand to react immediately.

From a game-theoretical point of view, a different – ​​and consistent – ​​picture emerges. As long as we do not completely isolate ourselves from Russia’s gas and oil supplies, all Western energy policy decisions affecting Russia’s supplies must be negotiated. Explicitly or implicitly, i.e. at the negotiating table, or through signals and actions, as Putin just did.

The idea that Europe can decide unilaterally, for example to cut gas supplies from Russia by two-thirds, coupled with the idea that the flow of money to Russia would then also fall by two-thirds, would be naïve.