Assuming they are able to put a lid on things. The USA couldn't in Vietnam, or in the Middle East OTL. The rest of Europe (at least the majors) are perhaps even more loath to spend, since they were nearly ruined by the Great War, and haven't had war brought home to them since.
No the lions share of burden will fall on Germany.
A loss in supply increases prices everywhere. Especially if Russia wishes to leverage its natural resources for power and wealth, US oil will start to look pretty damn attractive.
In 1939 the USA on her own was the equal of the entire rest of the world combined in production capacity.
Literally she on her own, could outmatch Germany, France, Russia, Italy, and the United Kingdom combined.
After spending greatly in WWII, she then financed the reconstruction of Europe.
The United States' true capacity is simply staggering, and her pockets frighteningly deep. All PM has done so far is to hold the United States in check.
Germany still, quite correctly, views them as their primary rival.
You are wrong, that was in 1945 with Europe in ruins, not in 1939.