Since the annexation of Crimea last week, the world watched as Russian President Vladimir Putin signed the documents, however, the West and the E.U. are calling his force over Crimea and his methods illegal.

Many have called Putin a man drunk on power, and predicted that his cool demeanor and calculated plays would not stop there. It is evident that he is not quite finished.

However, President Obama has placed some serious sanctions on Russia and its top officials, as did the European Union (EU) – placing similar sanctions – leading to Russia experiencing financial troubles.

It is predicted that Mr. Putin initiated the phone call to President Obama due to the sanctions and growing political isolation affecting Russia economically, with its currency losing value, and stock market dropping all amid fears of capital flight and a drop in foreign investment, could be Putin’s way of saying “lets talk”.

The White House said Obama stressed to Putin that the United States continues to support a diplomatic path in close consultation with the Ukrainian government.

“President Obama made clear that this remains possible only if Russia pulls back its troops and does not take any steps to further violate Ukraine’s territorial integrity and sovereignty,” the White House said.

Over the past several days, President Obama has urged European nations and other allies to consider broadening sanctions against Russia if Mr. Putin escalates the situation in Ukraine. He also promised to enhance NATO’s protections of member countries along the border of Russia.

Perhaps the phone call from Putin is showing signs that those sanctions are working. It’s funny because Putin has not even batted an eye until the last set of sanctions was unleashed.

Another possibility in Mr. Putin’s willingness to negotiate could suggest some confidence that he will be dealing with the West from a position of strength – or power – having just annexed Crimea and largely dispersed the remaining Ukrainian military units that had been holed up on bases awaiting instructions from Kiev.

As of today, Russian troops on the border of Ukraine number 40,000 and include supply lines and the fielding of a wide range of military forces, U.S. officials said.

These include militia or Special Forces units made up of Russian fighters wearing uniforms lacking insignia or other identifying markings, similar to the first Russian forces to move into Crimea.

Doesn’t sound as if Putin is planning on ‘backing-down’ but then it might be too soon to tell.

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