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Unlikely. The cost/benefit doesn't work for an assault on the EU. Most countries in the EU have to import oil and gas (Norway being a notable exception), which is why cutting off gas from Russia has been such a big deal. The cost of invading wouldn't be offset by the oil gains unless oil got really scarce. A smarter move--if we had a president that didn't give a fuck about our European allies--would be abandoning NATO, stop selling arms to EU members, and then buy oil and gas from Russia at a discount while Russia invades EU countries. (If, say, China didn't beat this entirely hypothetical US president to the punch.) As far as water goes, it would be cheaper to built massive desalination plants than it would be to move water by supertanker.
'Course, climate change is going to render most of this moot in 50 years or so.