It's in a gaining situation
His ideology is to rebuilda all empire. Destroy Zelensky
Invade free Ukraine area
Consolidate internal hegemony/Stronger intl position
Possible war with NATO; Strong economic sanctions
Risk Aversion Decreases Significantly
Very high Risk Propensity
Try to expand territory
To allow Russia to control Dombas and expand will mean a big loss of prestige
Give Ukraine OTAN membership (Fast track)
Contain Russia imperial dreams and gain intl prestige
Possible war with Russia
Potent Options to contain Russia’s expansion are limited but because of Doubts wether Russia is going to use nuclear weapons OTAN can fracture and prefer continue giving sophisticated weapons
It's in a gaining situation
A gaining situation should make him stop at Donbas but his ideology about rebuilding the empire can push him to expand to the west
Make credible his initiative to expand supported by making more credible his option of using nuclear weapons
Very high Risk Propensity
Putin will probably will make this his next move