I commented this on Politics Thread, but i'll comment here as well.
This began in mid-March when the Ukrainians began a series of attempts to retake back Crimea, specifically a city called Sevastopol, which is a port-city that is strategically important to both Russia and Ukraine. For Russia, the very necessity of Crimea is entirely strategic, it is Russia's only warm-water major port, and it's gateway to the Black-Sea, the Mediterranean, etc. For Ukraine it is an issue of sovereignty, and also, because Sevastopol is a major trade city for Ukraine.
The Ukrainians have been eager to get the world on their side in this conflict, and, more or less, on paper Europe and the US is on their side…the question is, how far are the Europeans and the Americans are willing to put money and troops on the line to defend Ukraine against Russia?
Russia is playing the propaganda visual game. You are seeing a lot of videos of Russian troops and military buildup in Eastern Ukraine on social media…but this is deliberate, because if Russia wanted to, they can make that evidence disappear. So one must understand that Russia wants the world to see the seriousness of their troop capacity at the borders.
Russia has figured out an extremely good strategy at annexing territory that skirts much of the last 5 or 6 decades taboo of fighting wars for territory. The playbook is simple, but effective:
1) Rapid campaign that lasts no longer than a week, preferebly begun during either a weekend or a major international event.
2) Occupy the territory with a massive amount of troops.
3) Claim to "Liberate" the areas.
4) Create a political refferendum of whether the local inhabitants of the conquered area prefer to be under Invading Country's territory.
5) pressure said local inhabitants to democratically vote in favor of the invaders referendum.
6) spam social media and international media with the results, showing and displaying the invaded populace welcoming the invaders.
Why is step 4, 5 and 6, important? Because it's an incredibly good deterrent to the US and Western Powers. It's an easy out for the US and Western Powers from having to dedicate military or political power to the region because in the end they can say "Well, the people really DID want to be invaded, so who are we to intervene?".
Putin is gambling on the realities of post-Iraq US, that is, a US that is wholly war-weary. This war-weariness began to emerge under the later years o the Bush administration, during the Obama era (hence the reluctance of Obama to get engaged deeply in Syria or Middle East in general), and was exacerbated by the Trump administration. Currently, the Biden administration does not have the political capital to reverse this, and so the US, is, for all intent and purpose exiting the world stage as it's police man. For good or bad. The EU has no ability to stand up to the Russians when an overwhelming amount of it's energy sector is dependent entirely on the Russians for supply.
This is why Russia is doing what is is doing.
Incidentally, this is also why China is engaging in a lot of exercises around Taiwan, and a likelihood of a Taiwanese invasion is more likely to happen sooner than later. I bet a 40% chance even this year.
And China will play by Russia's book.
It'll first blot out any air-support the Taiwanese can muster. It will put 200k+ troops on the ground. Within 72 hours this can be achieved.
Next will come a cease-fire, followed by a referendum. China will show the world the millions of Taiwanese cheering in the streets at the prospect of being unified, which will give no political power to the US or any other power to do anything about it. it's all done Democratically, and no one can challenge it. And thus, we are back to the first half of the 20th century of conflicts over territory emerging.
The Russians created a bulletproof playbook. They utilize the very weaknesses that the US has – our undeniable respect for an international democratic process, and the domestic political damage it would do to disrespect it. It also knows that any other major power, i.e. the EU cannot actively do anything about it because it's dependence on Russia for energy.
Ukraine…is…fucked. Which is sad. My family's roots are from Ukraine. My grandfather fled the Holocaust from Ukraine to Uzbekistan, to move back to Odessa, and raise my dad there. While I myself am not from Ukraine, I'm from neighboring Moldova, we had many summer trips to a dacha in Odessa in my childhood. My closest friend is from Kiev, and he is very concerned about the realities on the ground because he has family still in Kiev. (I do not).
Incidentally, it seems that the Biden administration recognizes it's inability to do anything about what is happening and as of a few days ago the Biden administration recalled a US fleet from the Black Sea. We are, effectively, letting the Ukrainians high and dry on this one.