Yes, this statement is the most true. Just to put a bigger historical context around Putin’s mindset, we can add that gas pipelines ran through Poland and else to Europe and Germany in particular during the Soviet Union. So reliance on Russian gas is nothing new and is just a repackaging of reliance on Soviet gas. So yes, Putin knows he will soon have the only access to “hard” currency, just like in Soviet times. He is the chairman of the only gas company, Gazprom, as well as president. The sanctions in effect will make him the sole importer of US dollar bills, since that is the actual currency gas and oil is traded and sold with globally. Now though, unlike in a Soviet times, the oil and gas pipelines go into China. And Xi knows this fact, and the two leaders signed the decades long contract worth tens of billions in a signing ceremony just recently.
But that doesn’t mean Putin is not above the crunching internal criticism, perhaps unvoiced for now, of every Russian who just saw their ruble and paycheck devalued overnight, putting them individually and the country as a whole back to the abysmal economic times thirty year ago after the Soviet collapse. Putin can’t occupy and control Ukraine. It’s too big and people too unified against him and well armed. They can’t be subjugated and controlled. So you’re right, he can’t win the war and doesn’t have to, since he just consolidated power and insure he will rule for the next decade. If only in his own mind.