About 57% of their gas and around 30% of their oil comes from Russia, I believe. Thing is, it affects Russia negatively too if they were to stop trade.
Russia also has an interest to drive the oil prices up. Right now Crude is at 43, it jumped from 40 - 43 after the Turkey shot the jet. Some argue that Oil still has a big downside risk, however more are going long in oil using options as the chances of things not escalating to a point where it effects the flow of oil is low. Just 15 months ago it was trading at 100+. Granted one can argue oil will test the late 90's lows, however what are the chances of that especially given the saudis are about to oust the king in part because of the anger of low oil prices.
Oil is about to make lots of people rich and lots of people poor. The next move will be one of those big historic moves that overnight create millions and bankruptcies.
If I decide to get involved in an oil trade I will let you know if I am going long or short, this way you can take the opposite side of the trade as I am usually wrong.
