She said, they are now in a state, where they can't be pressured trough gas deliveries from Russia. Whether this is true, I have no idea.
You can't build LNG transfer depots to replace half of your pipeline deliveries in years, let alone weeks.
Looking at this, Russian LNG imports makes up 20%. Doesn't seem to be completly impossible for the other countries on that list to cover for it at maybe a higher price. https://www.eia.gov/todayinenergy/detail.php?id=51358
It looks like Putin is making the correct calculation that the west would suffer more.
Look at the Chinese reaction, it is very unlikely he would be making this move without at least tacit Chinese support. He has an outlet for all of that energy and grain.
Where will Europe recover that supply from?
Oil is fungible to a significant degree, but oil politics are not.
The key balance here is with the Iranians and the saudis. In all likelihood the nato response hinges on how much support they can count in the Middle East.
I'd say they've anticipated those serious economic repercussions to some extent. But I also suspect Russians may be more willing to tolerate things such as a weak economy if it helps achieve other goals. I kind of see it like a parallel with Russia shooting a bullet at its own economy, while the Soviet Union in the 20th century shot plenty of bullets at its own people...for various reasons.