

Unless there is some truly apocalyptic behind the scenes geopolitics realignment on the table here, we must cut them off. Call their bluff. Europe must have the courage to say that enough is enough. Yeah, short term we might have some price turmoil (again), but we can’t live like this.
There is a indirect cost to superficially placating him as well, since you’re helping him build the image of himself winning every negotiation, but yes, I agree this is also a valid option.