With regards to tensions around the border with Russia and Europe, Putin is firmly seen as the aggressor from here, especially after the annexation of Crimea. To us it seems that Russia is testing the water, with the full knowledge that essentially everyone in Europe wants to avoid an outright war.I assure nobody wants a war here. From here it's seen as USA aggressively trying to push Ukraine to start something stupid like trying to take Crimea back by force. Ukraine is not a sovereign country, it's under external control and they have a very little choice. Their economy is unviable, and I guess US gives them a hard choice: either you go to war with Russia or the flow of credit from the West that allows you to feed your people will stop.
We don't need Ukraine at all. It's useless for us, it's useless for Europe. If we'd captured the Ukraine (and I'm sure that would be easy), we'd have to feed the big population that can't feed themselves and about 50% of that population also hates us to guts. Everybody understands it, including Putin. Why waste resources feeding big ungrateful population if you can offload this problem to Europe?
USSR tried to feed too many hungry mouths: Georgia, Asian republics, Baltic Republics. USSR built infrastructure: schools, hospitals, industry in those countries. They were prosperous during Soviet times because Georgia for example, consumed roughly 10 times or more money its economy generated. The difference was covered by RSFSR (Russia). Only to hear after USSR collapse that we were oppressors. Nobody is going to make this mistake again. Nobody wants to take back Georgia or Tajikistan or Estonia or Lithuania. Let them care about themselves, we better spend our resources to make our life better rather than trying to buy loyalty.
So, I highly doubt Putin have any desire to start a war. It's not beneficial to him or to our country at all. It would be highly beneficial for the US, though.