I disagree. I think there is a significant risk of a larger war. For several reasons:
1. If Russia invades all of ukraine, you will have the Russian military face to face on the borders with a beefed up NATO presence. The risk of a miscalculation here is huge.
2. If Putin invades Ukraine and causes mass bloodshed, or reports come out that there is genocide or people being put into detention (concentration) camps, then the West will have to act on principles of morales. We can’t sit back and watch while fellow Europeans are murdered. There has to come a point when we say enough is enough.
3. Putin is isolated, has no advisors, wants the old USSR back. Will he stop at Ukraine? Or will he go after the other old USSR countries too? He’s obviously self obsessed, not firing on all cylinders, he might not stop at just Ukraine.
4. The US and U.K. are looking to supply Ukraine with more military items, possibly surface to air missiles - how do you think Russia will react when a British missile takes out a Russian plane, or a British anti tank shell takes out tanks and kills Russian soldiers?
5. There has to be a clear message not just to Russia but also China who will go for Taiwan if it sees the west being weak. It wouldn’t surprise me if NATO is considering putting troops in Ukraine and having a Cuban style missile crisis on the point of principle that another country can’t just walk in and invade another without the west intervening.
6. Finally, I think Putin is isolated and crazy enough to actually push the red button if it came to it. I get the feeling he has nothing to lose and would take Russia down with him if it came to it. He reminds me of Hitler when they invaded Poland and everyone around him is too afraid to stand up to him. (As we saw in the comical Russian security meeting yesterday)
The big question is how do we resolve this? Putin was right in that NATO has expanded right up to Russia borders, but he is in another works when he thinks Russia is going to be under attack. He obviously feels very threatened, I think not from NATO but from EU and Western values and way of life. He doesn’t want to lose Russia to this, which in turn would make him weaker.
At the moment the only way I see it is if his generals stand up to him and refuse their orders, or he gets assassinated.