If anything, we can say that the current sanctions and other have been somewhat effective in deescalating violence, and if the west would have pulled back, then we'd have Ukraine dismembered by now through increased direct Russian military involvement.
Nothing "sets back" Russia to cold war mentality; they have never left it, won't will without a regime change, they won't stop treating the west as their enemy and they will aggressively (re)take the now independent states we let them to.