The war is ongoing so it isn't going to mean much to NATO. However, inside Russia it is a ploy to help shore up support. Most historians are likely to say it wasn't legitimate. They will however likely bring in certain aspects of a broader historical timeline into their discussion. Usually, they explain current events through association with past events. In the short run annexation means nothing, in objective history it will mean nothing, but depending on how it turns out it could mean something in Russia. It is a false justification of self-defense which likely gives Putin some additional powers to lock down the decision making of the nation. During "war time" or in "defense of the homeland" one is likely to get more powers to lock down on the Russian population to fight off internal descent, more control over resources and create a level of perceptual support for his actions. Putin is a sly fox so he is all about justification and leverage. "Defend
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