Putin gut check time - Russia warned - now backs down?

[Reality Check]

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Russia has proclaimed itself the protector of Russian speaking people in Ukraine.

Russia may, or may not, have orchestrated current firefights in Eastern Ukraine.

At this point that is irrelevant.

Apparently Russian speaking people in Ukraine are dieing in armed conflict with the Kiev government.

Is Russia going to sit back and prove it is not their protector, and thus lose face ?

Or will Russia act ?