> IMO the best reasonable outcome I see for this war is for Russia to annex the Donbas, and possibly the Azov coast. Ukraine will commit to neutrality from NATO and no missiles, but leave open the possibility to join the EU as an economic partner.

This looks "nice" on paper, but how would this neutrality be actually enforced? I'd imagine that a situation where Ukraine has a relatively small army and commits to not hosting either NATO or Russian military bases would be a) quite uncomfortable for Ukrainians and b) highly unstable, with the balance bound to tip to one of the sides sooner or later. Are there any historical precedents of a similar arrangement that worked?