[oytis]

One scenario that would be a clear win for Putin is forcing Ukraine to formally concede the captured territories. After that he will have some peaceful time to prepare for the next round and wage the economic war against the West, where having the largest energy producers and largest manufacturer on his side, he has decent chances to win some ground as well

[sofixa]

How would he force Ukraine to do that? Ukraine isn't giving up, so that's just a pipe dream.