Boy, that escalated quickly

_Obama during his 90-minute phone all with Putin._

I've been pretty busy these past few days and am just properly catching up on events in Ukraine and Crimea.

I am beginning to wonder whether I have underestimated Putin's intentions. AP are quoting him having told Obama that Russia has the right to take action to protect Russian lives and interests, and Russian speakers.
That last point is the most significant: the majority of Crimeans are ethnic Russians. People in the east of Ukraine are Russian speaking Ukrainians.  Putin has reserved the right to take further intervention from across Ukraine's eastern border.