The bear is wide awake ....

and his roars can be heard all over the world. 
No .... you can't isolate Russia or scheme to bring her down with sanctions.  
To even contemplate such a move was pure insanity from the Rome of our times. The USA, Canada and the EU are no match for the chess master.  While the USA and her allies think of overcoming an enemy with the means of war and death, Russia uses diplomacy and clear sightedness to win every hand dealt against her.

Over and above the gas pipeline deal with Turkey,  Putin is also talking about plans to build nuclear facilities for the Turks.

What a mess the USA has created with its meddling in Ukraine!

From TheInterpreter:
Russia Cancels South Stream, Plans New Black Sea Pipeline with Turkey
20:48 (GMT)

As oil prices continued to fall along with the ruble's value, President Vladimir Putin announced in Ankara today, December 1, that Moscow will halt development of the South Stream natural gas pipeline to Europe due to EU opposition, the Financial Times reported:

"If Europe does not want this project to be implemented, we will not implement this project," he said at a press conference with Recep Tayyip Erdogan, his Turkish counterpart.
"We will redirect our energy resources to other regions of the world, in part through implementing our liquefied natural gas projects and speeding them up.. This would be contrary to European economic interests, this will negatively impact our economic cooperation, but that is the choice on the part of our European friends."

Putin is in Turkey to discuss further economic ties and prospective pipeline projects. Russia is offering Turkey a 6 per cent price cut on natural gas from January 1 and an increase in deliveries by 3 billion cubic meters (bcm).

RIA Novosti said Putin explained his decision as follows (translation by The Interpreter):

Meanwhile, taking into account the position of the European Commission, which has not enabled the implementation of this project, taking into account that we received only just recently permission from the relevant bodies in the Netherlands....they made a positive decision. Taking into account that we have not obtained permission from Bulgaria, we believe that Russia under these circumstances cannot continue to implement this project. We cannot begin building in the sea and wait until we get permission from Bulgaria.

At a press conference at the conclusion of the Russian-Turkish talks Aleksei Miller, CEO of Gazprom, Russia's state gas monopoly, said, "That's it, the project is closed" and would not be revisited, RIA Novosti reported.

He said Moscow and Ankara had reached agreement to build a new pipeline themselves across the Black Sea, to carry 63 billion cubic meters a year, the business daily RBC reported (translation by The Interpreter).

Today a memorandum of understanding has been signed with [the Turkish petroleum company] Botas on building the sea pipeline across the Black Sea in the direction of Turkey with a volume of 63 billion cubic meters a year.

He added that Turkey would take about 14 billion cubic meters, and the rest would be sent to the border of Turkey and Greece. Regarding the price, Miller said:

To the extent the cooperation develops, and deepens, I think that we will be prepared for a further reduction of price [for Turkey]. I think to the extent of implementation of joint projects, including in the gas transport area, we can say that the level of prices for Turkey will in the future come to the level of prices that Germany has today. .......