The trouble is that any peace negotiations will be stuck from the start. Rusia will want to keep their territorial gains while Ukraine will demand a full withdrawal to pre-war borders and possibly the return of the Crimea.

The entire farcical situation is the result of NATOs cowardly refusal to put boots on the ground in Ukraine. Russia simply does not have the wherewithal to stand up to a full NATO deployment and they know this. They also know that a nuclear response would be suicide. Putin may be mad but there are others in Russia who aren't and sooner or later some of them are going to decide enough is enough and take the risk of moving against him. At that point we in the West must give them all the help we can.