Ukraine may be a problem but Obama clearly is, as you suggest, just using it as a distraction. The only thing that seriously threatens us is Islam.
The only thing I’d be worried about is if Putin teams up with Islam at some point, but I don’t think he will.
The EU and US, not Russia, fund the Palestinians, ISIS indirectly in Syria, and therefore, indirectly in Iraq, and Putin has made it pretty clear Russia doesn't want any more Muzzies in Russia by outlawing the building of new Mosques and other actions. So his siding with them is unlikely. Especially since he made an enemy of the Muslim Brotherhood by backing the Egyptian military in every way they asked him to.
Iran is a special case Putin wants to keep a handle on so he's free to do what he's planning on their border with the Stans is my bet.
Now he's Satan incarnate and however much of a typical Russian he may be, this garbage is just too convenient by more than half.
Some fine Muzzie nation will step up and bail out Malaysian Airlines and make sure they don't go out of business for being stupid enough to fly over an active war-zone, too. Another convenient little thing to throw into the pot luck stew.