Yes Putin had the US, Germany and the EU in a state of panic over what they thought Putin's next move would be.
His first step was Crimea, the second was the threat to what you mention.
No question he has won outright on Crimea. (His step one)
He is still sitting with Donetsk so maybe only a half step back... Which is understandable given US weakness and German gutlessness.
I guess he is judging his moment to repeat the two steps forward.
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