I had thought it might refer to geographical reference. For example, I grew up in “the south” and here I live in the Piedmont, so that was my best guess, but I never really knew.
Yes, the toponym "Ukraine" comes from the Old Slavic. It means roughly "peripheral land."
Kinda like "The Netherlands" meaning, literally, the "low" lands.
Does NOT mean that the country has less of a right to sovereignty.
Regards,