I think this quote is going to have aged badly in under 24 hours.
The money will be used to buy roubles prior to them being used to purchase a commodity. Anyone who wants the commodity needs roubles, therefore they increase in scarcity and thus value, undoing the damage done by the sanctions imposed on Russia. The EU really doesn't have a choice, they aren't prepared, Germany having to pause their economy indefinitely would at least initiate a massive recession if not an out right depression. Fun times!
Also, you have to laugh at the utter hypocrisy of various EU country ministers saying "they cant do that, we have contracts", having just undermined the value of contracts through their unilateral sanctions![]()
I doubt they actually think the contracts meant anything considering the circumstances, they're just making historical note of Russia's untrustworthiness (not that we need any help in that regard). Perhaps it can be seen as hypocrisy but the situation necessitates a shift away from the last thirty years of obsequious loyalty to a system that has clearly failed to produce a reasonable government in Russia or enough of a bulwark for Europe against American hegemony.
Now whilst I think Germany's Ostpolitik was a mistake and they're going to have to deal with the consequences of it, I'm not sure it's wise to make light of it.