Putin's Gambit

With the ceasefire in Ukraine showing early signs of holding, international attention will now intensify towards finding a diplomatic solution to the crisis facing the country. For Kiev and its Western backers, prospects are bleak for bringing about their desired settlement. But it will also not be easy for Vladimir Putin to convert his considerable short-term bargaining power into lasting strategic gains.

On the face of it, Russia’s position in Ukraine is strong. Even though the Russian economy has taken a battering as a result of Western-imposed sanctions, Moscow still enjoys a commanding position on the ground.

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