If Russia were to propose a UN Peacekeeping Force for select Ukraine border areas, the present situation would become less intense.
Pres. Putin could pull back a bit while maintaining a hardline status. At the same time, if there were a Peacekeeping Force on site, it would preclude Ukraine joining NATO. This would not preclude Ukraine from being considered for EU membership.
The PF would also decrease the number of real incidents that have been occurring in the Donbass area.