Ukraine: Putin will search for a way to save face (BBC Foreign Affairs Editor)

But all that does is push Russia's border further West. It gives him exactly what he originally wanted and sets us up for the exact same situation a few years down the line, especially since it makes him look strong back home for "liberating" civilians that he's been telling his population have been bombed and murdered by Ukraine.

It basically gives him complete victory, domestically and internationally. Even if he withdraws completely and takes the loss, then as long as he stays in power, or someone like him, then the "separatist" will never leave these regions, and he's obviously not going to agree to a peace deal that sees him resign and make Russia a genuine democracy.

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