there are more than 2 parties in this. and putin and obama are not exactly opposing parties. obama did quite a lot to undermine what one of the other parties were doing in ukraine, and also in middle east. like openly declaring that usa had done the regime change in ukraine.
the parties are roughly as follows from what i see:
- obama administration
- neocons behind dick cheney, and their acting henchmen mccain - incidentally this also contains oil and military industry complex interests
- germany as a part of eu and alone
- france as a part of eu and alone
- radical islamist dictatorships' coalition in middle east (saudis, gulf countries etc)
- neonazi/fascist groups (historical and new) in ukraine and eastern europe which nato was fostering since end of cold war
the story is that, neocons (military-industrial complex) had been basically pushing the same thing they have been pushing since last 50 years - more wars, occupations and takeovers for oil and whatnot.
after losing elections in 2008, their warmongering agenda was gimped. therefore they had been propagating it through 'colored revolutions' funded by us state dept, and by arming radical islamists if that didnt work. the examples of former are tunusia, egypt, and example of latter is syria.
in that they had been collaborating with radical islamist dictatorships headed by saudi arabia. who had been supplying a lot of the manpower, and also some of the funding.
at libya, things changed. when the radical islamists usa bombed into power took 40+ chinese oil fields in eastern libya and handed them over to american corporations, and russian bases were thrown out and radical islamist dictatorship started cleansing libya from anyone who didnt obey them - leave aside blacks, other islamic sects etc -, brics got angry.
so when neocons took their bullshit to syria by sending us navy there, they were not only met by brics political power, but also a russian carrier fleet, joined by chinese warships and iranian warships.
when the bombing of syria could not happen, they started pumping up radical islamists - funding, arming training. what is called 'free syrian army', which somehow magically constantly keeps turning into or joining the islamic caliphate, is whom they were funding.
israel played a great role in this, and still does.
it didnt work. with the backing of russia, and even iran and north korea, syria stands strong.
instead islamic caliphate suddenly decided to attack iraq - which had become a shiite dominant government which was not so friendly with usa - and take over oil fields belonging to iraqis and then for SOME reason selling the oil through israel.
during all these, especially after the standoff offshore syria, obama administration had not been so willing to cooperate with the agenda neocons have been pushing. after all, from 3 different high level authorities in russian government, usa was warned about ww3 if any moves towards occupying syria and bombing iran (eventual goal) was made.
what neocons want was to set up a puppet radical islamist dictatorship in syria as a satellite of saudi arabia - like the many others in middle east. this would give them syrian oil and gas as much as there was, but also allow them a qatar pipeline to mediterranean and also remove an 'obstacle' towards bombing iran.
when that didnt happen and obama admn. didnt cooperate much, they took their crap to ukraine. us state dept had spent $5 bn in the past decade in ukraine to foster 'democracy' - meaning funding and training neonazi groups to take over the government.
this happened last year through the riots u.s. openly backed.
after which the neonazi government started trying to repress opposition, and naturally they moved to ethnically cleanse ethnic russians and opposition in eastern ukraine, which were not so happy with a neonazi government.
when they failed due to russia backed rebel armies, this time they started bringing in blackwater mercenaries. when that didnt work either the talk of 'sending us advisors and troops' to 'train ukrainian army' started. at this point the rebels suddenly manifested full cadre of offensive weapons, and started advancing instead of defending. after which they circled ~10,000 ukrainian troops.
ukrainian army had been quite unwilling to go about this ethnic cleansing and war, with thousands of them defecting to russia. and when neonazis in kiev attempted to call a mass draft, tens of thousands of people who were of draft age just fled to russia. at this point the ones who were so keen on the 'war' going on were the radical right paramilitaries - who had been bombing cities to kill people by the way - and blackwater mercenaries which kiev was utilizing.
at this point, unrest started in kiev due to draft and 'security situation' in eastern ukraine. when the 'protesters' attempted to take over a government building, neonazi government's position became weaker all of a sudden.
at this time france, who had been bullied by usa to not to give russia the mistral ship russia paid ~$4 bn upfront, and germany, who was being constantly bullied by usa to do things for them in ukraine, had been looking for ways to stop this stampede due to mounting internal and external political pressure. the sanctions eu put against russia due to coercing of usa had damaged european economy much, and major political figures around europe started to talk against it. the situation was untenable, as well as the open coercion of usa.
hence the peace talks started, and concluded with all the terms russia wanted.
in this duration of time, putin found the time to visit egypt and conclude a deal for egypt joining the newly founded eurasian economic union trade zone, which was a major, major move.
it is also said that russia wanted to conclude the ukrainian situation because a lot of other important things had been going around the world. ranging from the push china is doing against usa in pacific to africa.
this is a short story of the events in the past 3 years. i can provide links to relevant references if necessary.