The fact that you're mentioning oil and not gas tells me you are not really familiar with the situation.

But no, getting yourself in a situation where you're dependent on cowboy regimes for critical resources is not good for the people.

Well, I didn't mention Gas because US is not selling Gas to EU, but they do in fact sell Oil to EU while buying Oil from Russia. It might not be the exact same oil and cycled through the reserves, but same thing.