Let’s have some perspective. Putin may look decisive and bold enough to play skins in world politics. But Russia is acting out of weakness. The breakup of the Soviet Union saw the Kremlin’s dominion shrink, and despite promises to the contrary by George H.W. Bush, NATO has expanded closer and closer to Russia’s borders.

Having lost important influence over Kiev’s government, it has taken a provocative gamble in occupying Crimea. Perhaps Putin wants to make sure that his own interests and the interests of Russian speakers in Ukraine are taken seriously by the new government. Or maybe he has written off that hope and is settling for an annexation to preserve access to the Black Sea, with a dash of intimidation for good measure. Perhaps he simply saw an oncoming regional disaster for his own interests and acted hastily. In that case, Obama should take Jacob Heilbrunn’s advice and offer Putin opportunities to back off.

But the political class in America should remember that Moscow is mostly a symbolic foil in world affairs, not a great geostrategic foe.