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I'm old enough to remember the Russian invasion of Czechoslovakia in 1968, not forgetting its military intervention in Georgia. Putin is a product of the KGB and the Cold War and his thinking seems stuck there; he sees perestroika and glasnost as terrible mistakes, and wants a return to the former glories of the USSR. The only difference being that today it's not about ideology but power, national pride and international influence.
He has little to lose in behaving 'badly' (i.e., not paying nice with the West); the US and Europe on the other hand do. Europe relies heavily on Russian natural gas for its energy needs. The US wants, at a minimum, Putin's acquiescence in dealing with Syria, Iran and North Korea where Russia's veto on the UN Security Council gives it considerable leverage. Russian isn't about to give up it's naval base in Sevastopol by letting a Westward looking government control Ukraine's destiny.
Since historically half of the country is mostly ethnically and Russian religiously Russian Orthodox, it seems inconceivable that the Ukraine will remain a single entity; a 'two state' solution, seems inevitable. Yugoslavia, a manufactured amalgam of peoples, splintered in the 1990s. The Ukraine will probably follow the same path. And the sooner everyone acknowledges that the less traumatic the country's future will be.
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