So if Russia doesn't and will not ever accept nato troops or Nato in Ukraine, that only leaves the option of ending Ukraine. Since the war can't go on forever nor does Russia think they can just give up, because that would leave Nato closer to it's borders than it was before.
I not for a second believe that western leaders are so stupid and actually blinded by """principles""" that they don't understand this. They still just seek unconditional Russian capitulation (and regime change) or just keeping the war going as long as possible.
If Russia takes it all it will be a boon to everyone. Even Ukrainians themselves. Russians will just have to pay the price of dealing with all the radicals-shit and pay for reconstruction. I have no doubt that if rump-Ukraine still stands after war, EU will leave it and it's people to rot as thanks for dying to hurt Russia. Everyone is increasingly unwilling to pay for Ukraine's war anymore. It's more than likely that nobody will pay Ukraine anything after the war and since much of the loans were guaranteed on existing Ukrainian assets and land and resources in Donbass they will have nothing, less than nothing. but it's not just about the money. Ukraine has no people, economy, infrastructure or political stability left and it will likely be landlocked.
Ukraine left alone will be known as lawless hub of terrorism and weapons- and human trafficking for decades to come. Like Libya, but in Europe.