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I assume phase 1 would be crushing Ukrainian military if we go by Colonel General Sergei Rudskoy's speech? By that they want to liberate the (people's) republics, without the interference of the Ukrainian military. For this they have to neutralize it, because otherwise those could endlessly butt into the matter. So they opted with all out war on the whole Ukraine, and not on a limited operational area.
Now - if it is true what's in that speech - they crippled the Ukrainian army, and they are busy with holding Kiev, Chernigov, Sumi, Kharkov, Mikolaev and Krivoy Rog. In the South East corner god knows what the situation is.
Or maybe phase 1 is connecting Crimea with the republics? Because that crushing doesn't sound complete in reality.