I will be brief: the 28 point plan is a disgrace.  (Read it here) 

The concessions are all on the Ukrainian side. 

Russia's guarantees aren't worth the paper their printed on. 

Every Russian talking point is represented here. From recognizing its territorial conquests, to crippling Ukraine's military capacities, to replacing Ukraine's leadership with pliant puppets, Russia gets everything it wants and need make only a handful of empty pledges in return. 

The loss of Ukrainian territory is not the worst part of it - that's something even the most sympathetic observer was somewhat expecting. But limiting the size of Ukraine's military, and cutting it off from the only measure that would actually guarantee its security - membership in NATO - practically invites Russia to try again later. 

Do I need to repeat Rome's demands of Carthage? Hitler's demands of Czechoslovakia?  Never trust anyone who demands you remove protections. 

Some of the smaller items on the list are less disastrous, but infuriating all the same. Bringing Russia back into the G-8 (#13-C). Giving it amnesty for all its war crimes (#26)(an admission if ever there was one). The whole thing's a petty wishlist. A reward for its efforts.  That which doesn't directly benefit it doesn't inconvenience it. 

You will not be surprised that the United States "will receive compensation for the guarantee" (#10). Probably in the form of lucrative reconstruction and resource contracts. It could be said that the US stands to benefit from the agreement. Or at least some small groups within it. At the cost of Russia dictating its security polices. And its honour. 

This will amount to the worst betrayal since Munich. It is the most disgusting, pusillanimous piece of servile slobbering sycophancy I have seen in my lifetime. Our civilization will deserve history's mockery if we let it pass.