Russia is a massive force, and although we were going to do some damage in East Asia, there was a long battle ahead of us. One which would probably not get resolved because the English-Netherlands alliance had a lot of fleets while Russia had a lot of armies. So there was never going to be a suitable theatre of battle. On land we lose. At sea Russia loses. Stalemate.
Spain also had strong winning chances. I'm not sure why he was dismissed out of hand. Once he secured Africa then he would have gone to the Rest Stop or something and gained a lot then.
Everybody wins.
