The Russians are all but out of money. They are using pumped numbers to make the figures look ok-- but ..
If --not the IF-- a little more pressure was exerted now -- and sustained-- something would crack.
What happens with Trump in the US will decide how this unfolds now.
Generalising --I think Putin is resigned to trying to hold onto what he has got . The idea to create another Georgia/Transinistra scenario that stops Ukraine from moving forward ie buy time for Russia to disrupt and dislocate -- and not lose altogether .
In other words-- he gets part of what he wanted initially,
For me --I would not accept any compromise . The Ukrainian military has come a long way since 2014 -Russia knows it too. They have flooded the Donbas with military hardware and munitions.
To remove them without razing the Donbas needs more sophisticated weapons--hence the US aid is required to remove them without a huge loss of lives.
Minsk has served it's purpose -- and still can until Ukraine has sorted out the issues with the US.Then Ukraine can do the world a huge favour in putting the skids under Putin !
Russia cannot sustain an expensive war with a quality opponent.