the only reasonable thing Putin has said lately is that the sanctions are equivalent to war.One thing I think is pretty clear is that Russia is really struggling in Ukraine and they may not have the power to finish off Ukraine let alone push further. And the battles in Ukraine will further weaken what military strength they do have. Any territorial escalation on their part will probably have to be with the big glowy bombs.
Sadly I think the West is using Ukraine as a means of weakening Russia at the cost to Ukraine. However I can't think of more we can do that wouldn't be an invitation to use the big glowy bombs. Germany still has a lot of economic cards they can play but that seems highly unlikely.
There is little to do now, short of military escalation, other than just wait for Putin to withdraw or implode.