EU is a competitor, Russia is a supplier. is similar to (Italy, Slovakia, France) or higher than (everyone else) every EU country, only standout is Germany.That remains to be seen.
China could probably outproduce the US long term. With no "interuptions or interference"
Add in all US allies.....no, not really. China needs allies and friends that matter, that's the real global contest. Can't do it alone.
And that's why Russia is a really poor tradeoff for the EU (if it comes down to that).
Competitors going down may or may not be bad. Suppliers going down is 100% bad.
And EU can't cut China off 100%, otherwise at minimum they say goodbye to billions worth of physical FDI they already have in China. How much accumulated FDI does China have? They stopped counting after that. EU may have China's paper, but China has EU's things.