The US and UK especially know what they are doing. We still have spys all over russia. The have an alliance with Iran and China and we are at the crisis with Iran today because of russian/chinese designs to buffer US/EU power from the oil rich middle east. Russia intends to make the EU slaves to its petrol in the future.They are trying the old divide and conqure tactic. We know exactly what is going on and if it means Cold War 2 then so be it. We want peace but wont be bullied by anyone.
Putin is playing not an all out cold "war" but more of a cold "war of thousand cuts".