As the emerging Cold War theatrics and veto politics threaten to further paralyse the functioning of UNSC, the Ukraine crisis is unlikely to abate any time soon.

Kremlin’s increasingly assertive stance on the troop build-up along the Russia–Ukraine border can be viewed as not just prompted by Ukraine’s potential NATO membership but also as Russia underscoring its place as a stakeholder in shaping European security architecture.

Nord Stream 2, a Russian undersea gas pipeline project that intends to deliver natural gas from Siberia to Germany, currently sits at an intersection of several geopolitical and geo-economic cross-currents that determine the economic security as well as the geostrategic balance of Europe.

While the ‘compromise’, as put forth by Russia is a welcome development in so far it helps to diffuse the potential confrontation yet it does raise two pertinent questions: What made the key players arrive at such an agreement? And can this deal be implemented?

Three meetings to discuss Ukraine are scheduled for the week beginning on Monday, April 14. The first meeting is of EU foreign ministers at Luxembourg on April 14. They are supposed to consider further sanctions on Russia. The next day the EU defence ministers are going to meet. The third meeting in Geneva on April 17 will bring together US, Russia, EU, and EU.

Putin seems to have concluded that Russia must draw the line at Ukraine. The EU bid to sign trade agreement with Ukraine in December drew Russia’s ire and now Russia has moved to make Crimea its part thus changing the borders in Europe once again and deepening the distrust between Russia and the West at a time when serious issues like Syria, Iran and Afghanistan are yet to be resolved.

While President Putin has conveyed the message of tough military action, it is highly unlikely that he will order his troops to invade the majority ethnic Russian region of Crimea. Military brinkmanship can be seen as an attempt to force the West to include Russia as a partner in settlement of the crisis.

Russia has signalled its intentions in Crimea. With neither the US nor Europe willing to be engaged in another crisis in Eastern Europe, the Russian strategy would be to re-enter the scenario not as a junior partner of the West but as a recognized primary power in the region, without whom Ukraine cannot be stabilised.