Because all Putin wanted was the Crimea. His biggest problem was how to keep it without having the US lose face. Well played, sir, well played.
Maybe, although Putin seems to be pretty concerned with making the US lose face as a matter of policy. I'm guessing that he honestly wanted Crimea, but beyond that he also sent a message to other former satellites that if they dare move away from Russian hegemony and toward the West, they will pay an unacceptable price in loss of territory and destabilization. Remember that the Soviet Union settled ethnic Russians in all conquered states, so the same justification for armed intervention can be used in any of them.
Still, whether this is Putin withdrawing his claim on his own timetable for his own purposes, at least Obama didn't blunder us into a world war. That's a win.
I don't see how that answers my question. Who cares what Putin wants he's breaking international law. And he's shown to be responsive to sanctions or else he would have taken east Ukraine too.
Sanctions worked to get him to back off Ukraine.
Sanctions should work to get him to give chimera back.
Crimea is a special case in that it was historically Russian and was transferred internally to Ukraine when Russia essentially ruled Ukraine, thus costing Russia nothing. A great many Russians wanted Crimea back and are willing to pay the cost to get it. And being majority ethnic Russian, it's not such a good fit with Ukraine anyway.