Putin has threatened so called unfriendly states to pay in rubles or have its gas supply shut off. It has said it doesn't buy things for free and so isn't going to charitable with its energy.
Europe has kicked against this with Germany saying its being blackmailed by this move. What other choice does Europe has with Russia alone selling about 40% of energy to the world.
There is a lot of bluster and idle threats between the two countries, but it's a catch-22 situation for Russia right now. They produce very little else that is desirable to Europe, so the biggest and possibly only economic threat the can use to counter all the sanctions imposed against them is oil and gas. Yes it would hurt Europe, but in the short and long run it would hurt Russia much more. Europe is the most premium paying market for Russian oil and gas, paying almost half a billion per day and once those taps get turned off - there will be no chance of turning them back on again and rerouting that supply to much cheaper paying markets would take a very long time. Russia is playing a very dangerous game threatening to turn the supply off, which is why that has been kept relatively quiet for as long as possible, if they were truly serious then it would have been turned off weeks ago.