Well- if they cement their hold on the separatist regions, expand them a little, and ensure a fresh water supply for Crimea, they can probably spin it as a win

Well- if they cement their hold on the separatist regions, expand them a little, and ensure a fresh water supply for Crimea, they can probably spin it as a win and declare victory. Ukraine is also suffering a lot from this war, even if they don't mention it much. They will feel a lot of pressure to accept a smaller Ukraine in exchange for peace.