Commentators offer the common refrain that Russian President Vladimir Putin’s escalating aggression takes root at the intersection of Putin’s insecurity and his pride. Their argument is that Putin is threatening war with Ukraine and demanding compromises from the United States and NATO in order to gain attention and present Russia as a great power.

But this assessment misreads Putin. The Russian president is not doing what he’s doing because he wants attention. Putin is doing what he’s doing in order to extract tangible concessions. And were Russia not a great power, there would be far less worry about what Putin might do next or how to deal with him.