Although that may be the effect of the sanctions if Putin takes this invasion much further. But by definition, a re-establishment of economic engagement with the west will be the carrot in negotiations to reign him in.

So trade is a primary lever to be used in all this. At this point the West's eyes are wide open to the fact that Putin's Russia is going to be an adversary on many levels. China is the same for the foreseeable future. That doesn't mean shooting wars - I know of nobody who wants that with either.

As for Europe's dependence on Russia for oil and gas, that's been going on for decades. It is both a problem and a benefit, but sure, whenever you trade with someone (you realize you are advocating trade with Russia, and energy resources are the only thing of value Russia has to trade, so you are contradicting yourself a bit here), you create co-dependencies, and economic sanctions hurt those putting them in place too. I think Europe right now wishes it had had more foresight in diversifying its energy sources, but there is only so much the US can do about that.