If that was the case Ukraine wouldn't be so worried about loss of US support. Sure Europe is giving some support, but the EU alone is enough bigger than Russia that Ukraine should have no problems getting enough support. This is true even if you eliminate a few players like Hungary that are supporting Russia. (UK of course isn't in the EU)
The major players in Europe (France, Germany, UK) don't seem to be against supporting Ukraine, but they don't have the ability to do it despite an economy that says they should be able to if they wanted. There are a lot of smaller players in Europe that likewise should have plenty of ability to provide support but somehow they can't provide it.