We don't know. So far while he has recognised all of those territories as independent he hasn't moved his troops further than the rebel held areas
What he wants is pretty clear - he wants a puppet regime in Ukraine just like the one in Byelorussia, and what he plans to do to Georgia. The problem is that the resolve of the Ukrainian Government and the unity of the West took him by surprise. He postured in the belief he would get his way, and when he didn't he couldn't back down without something to show for it
This whole situation is because his position is precarious
It is the classic autocrats problem - he has stripped away any checks and balances that stop him from exercising his every whim in power only to discover that in doing so he has stripped away the things that protect him from being overthrown in turn
Now he is over 70 people will inevitably start thinking about his succcessor, and people will start and think their best chance is to move first and push him out
He has no advisors left who will tell him anything other than what he wants to hear, and he is left paranoid and weak
That depends on how united the West is and how resolute the Ukranians are
He has recognised the independence of the whole area, but only has troops in a fraction of it
Because what he wanted wasn't to fight a war in Ukraine, just to get his own puppet regime in power. Now that has failed he needs a consolation prize