It's also going to be interesting, how it affects morale on the Russian side. If Putin's propaganda machinery works, he'll spin it as an aggression from Ukraine and a reason for soldiers to defend their country and whatnot.

But, while it's always difficult to judge this from the outside, I cannot imagine that Russians don't know that this whole conflict was an aggression from Russia towards Ukraine. So, it will very likely lead to a lot of pressure to withdraw troops from Ukraine, not only to defend where necessary, but also to put this whole power trip to rest.