Martin Alvito
Player Valuation: £50m
Actually landing on a point in the bargaining range would depend upon the situation on the ground.This, in spades. It seems fairly clear that Crimea, Donbass and an unbroken chain of territory linking the two is the absolute minimum that Russia is looking to seize permanently.
I suspect Putin was planning to take Kiev and absolutely everything east of the Dneipr, then "magnanimously" announcing a ceasefire. The Dneipr makes for a fairly significant strategic barrier, to satisfy misplaced Russian fears of a NATO conventional assault, and his commanders will have anticipated that Ukrainian troops would blow most of the bridges as they retreated, making it a more defensible barrier. It effectively cuts Ukraine in half, and the strategic value of Crimea, both militarily (provides year-round deepwater port for Russian fleet) and industrially (confers control of territorial water, therefore ownership, of areas of significant oil and natural gas reserves) is firmly established.
Ukraine will obviously want the return of every inch of territory seized by Russia since 2014, plus total reparations for the massive amounts of damage to roads, infrastructure, cities and everything else, plus the thousands of murdered civilians. As negotiations go, it's hard to see any common ground where either side is going to be happy to compromise.
A lot of things have to obtain. Ukraine's government would have to believe that they cannot retake any territory that they choose to cede and that continuing the fight is too costly. Russia's government would have to believe that any reparations are cheaper than the cost of continued sanctions and any materiel/lives that they would have to expend to retain any territory that they cede back. EU/NATO governments would either have to believe that they could end sanctions and let war crimes slide without paying a price at the ballot box, or that WWIII results if they don't back down.
My guess would be that the third parties will be the problem. It's difficult to see them backing off with the media handcuffing them to a hard line against Russia. That, in turn, emboldens Ukraine's government. They will continue to think that they can get Putin to capitulate, or have his regime ultimately collapse, and the war will drag on. Zelenskyy puts on a really good show for his domestic audience with respect to griping about the absence of a no-fly zone, but I would assess present levels of EU/NATO support as beyond his wildest possible dreams prior to the invasion.
The problem with collective security isn't just that my purely defensive alliance is your security threat. It's that mechanisms such as alliances and sanctions make it so much harder to hammer out a deal before the war breaks out (due to uncertainty over parties' willingness to honor their commitments/threats and how hard they will try) and after the war breaks out by putting a whole bunch more parties at the conference table.