RE: Russia gets to keep Crimea. Ukraine pledges to remain neutral. Russia withdraws troops from occupied territories of Ukraine (not Crimea).
So, what happens to the Donbas regions?
What you’re describing is essentially the status quo BEFORE Russia invaded last February.
As Russia's circumstances and prospects continue to deteriorate, the terms will get better and at some point a deal might be made. That will likely not be the case, but talks of any sort will provide a better understanding of Putin's frame of mind and intentions. And that is what Putin hopes to learn about the US and NATO.
Belongs to Ukraine. I'm aware that there are Russian separatists there. But if Putin is not careful, Ukraine will take back Crimea. So he should settle for a peace treaty while he is still able to do so. If Putin gets international recognition of Crimea, that's a win.
What you’re describing is essentially the status quo BEFORE Russia invaded last February.
Russia should pay reparations to Ukraine. Russia withdraws from the occupied lands. UN supervised plebiscites in the Donbas. Russia keeps Crimea. Ukraine is neutral.