[frankest]

Russia’s kleptocracy has impoverished the country so much that it now needs attrition in its male population to keep people from rising up against the current leadership. War is how you keep poor citizens from rebelling against you. When the war is over, historically the returning soldiers (especially in Russia) overturn the leadership. So there is never an incentive to stop a war. Especially a losing one.

[Copenjin]

The fact that it's a fragile kleptocracy basically reduce to 0 any possibility of a normal future. Puppet state at best, if someone is willing to take them. I expect they already planned what to do with the returning soldiers, not that they will like it or accept gracefully what's in store for them.

[spiritplumber]

China will buy Siberia. No shots fired.

[wongarsu]

Those cover Russia's motivation, which is indeed strong. You can add that Putin wants the glorious Soviet Empire days back, and that without additional buffer zones Russia is very vulnerable to land invasion (in Summer). Russia has plenty of reasons to conquer much of Europe

But I don't see Russia's capability to do so. Their kleptocracy has impoverished the country and has repeatedly lead leadership (including Putin) to overestimate their own capabilities. Male population faces attrition from war and alcoholism. Leadership has a habit of dying in mysterious accidents or falling out of windows, reducing the amount of experienced leaders available and discouraging anyone with a brain from rising up too far. And they are barely able to advance in Ukraine.

There are legitimate concerns that Russia might attack other countries once the Ukraine war concludes. They might even make some initial territorial gains because they are in full war economy while Europe has only scaled up enough to support Ukraine, and has depleted ammunition stockpiles. But I don't see them getting very far