I really don’t think that this can be cast as anything but a setback for both NATO and the Ukraine, but if this deal holds the shooting should stop, which is a good thing:

Russian President Vladimir Putin on Wednesday announced a plan to end the conflict in eastern Ukraine that would entrench rebel gains there and hand a significant defeat to Ukrainian leaders who have sought to regain full control of the territory of their nation.

Putin said that he and Ukrainian President Petro Poroshenko had agreed on the broad outlines of a seven-point peace settlement that would at least temporarily freeze the conflict on the ground. He specified no major concessions for the rebels and instead insisted on a large-scale Ukrainian military pullback and the introduction of international monitors to ensure that fighting does not resume.

Poroshenko did not specifically address the “Putin plan,” as it was dubbed by the Kremlin, but he said that the time had come to end the conflict.

“The first task is peace,” Poroshenko said in a statement. “Today at 5 a.m. I spoke to President Putin about how we can stop this horrible process. There is no denying that people must stop dying.”

Both leaders said that they hoped peace talks could start Friday.

The apparent concessions to Russia dealt a further blow to Ukrainian aspirations to escape the orbit of the nation to which they were once joined as part of the Soviet Union. Months of pro-European protests in Kiev ended in February with the ouster of President Viktor Yanukovych. Russia quickly moved to annex the Crimean Peninsula in response. The Europe-friendly Poroshenko was elected in a landslide victory in May, but his popularity has been damaged by the grueling conflict in the east, where ­Russian-backed rebels have claimed important swaths of territory.

Just weeks ago, Ukrainian forces appeared close to defeating the rebels. But since early last week, the rebels have made rapid, renewed strides against the Ukrainian military after Kiev reported a large-scale Russian incursion into southeastern Ukraine. The Kremlin denies aiding the rebels, although rebel leaders have said that Russian soldiers were using vacation time to fight on their side.

That last bit, the whole, “I’m a soldier, so I’m, going to war on vacation,” is the very epitome of a “Busman’s Holiday.”

Victoria Nuland’s Neocon folly is just the gift that keeps on giving.