Responding to the Ukrainian offensive that has liberated Kharkiv and thousands of square miles of territory previously occupied by Russia, Vladimir Putin has taken steps recently that, to many observers, reek of desperation. While his actions may indeed be desperate, it is likely a mistake to see them as an effort to reverse Russia’s sagging fortunes on the battlefield. Instead, Putin’s recent moves may be a signal to Ukraine—and the rest of the world—of a potential end to the conflict.

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