Whatever happens in Ukraine, the world will soon find out whether the President of the Most Powerful Nation on Earth is capable of leveraging a threat. For his part, Putin has reason to show restraint, but equally compelling reasons not to show weakness. Under the circumstances, it seems at least somewhat unlikely that words alone can force him to back down. Since Russia’s futures is pegged to energy prices, that may be the only card that Obama has to play. Let’s see what he does next. With Ukraine in such a restless state, a stalemate seems most unlikely if not impossible.
