America’s control over the international system is slipping
The US-led expansion of NATO in the direction of the Russian border took place when America was at the peak of its power — the "unipolar moment" — and when Russia had hit geostrategic rock-bottom. The global balance of power has changed since then, and that helps explain what is happening now. Vladimir Putin is correct when he argues that, since the collapse of the Soviet Union, the United States and its Western allies have taken advantage of Russian weakness. It may sound simplistic, but back then in the immediate aftermath of the Cold War, American policymakers did a lot of things just because, well, they could do them. And then they created geostrategic narratives to justify what they wanted to do.