This article examines Putin’s expectations prior to Russia’s full-scale invasion of Ukraine and seeks to answer the following question: Why did Russia invade Ukraine regardless of the West’s threats of severe economic penalties raising the cost of an attack? I argue that the confidence in Vladimir Putin to invade Ukraine, despite his awareness that the stakes could go well beyond the borders of Ukraine and increase the cost of war for the Kremlin, was based on Putin’s calculations that the West would be reluctant to change or substantially displace established rich-get-richer economic structures and would not apply high costs on the Kremlin for military aggression against Ukraine in case of a successful blitzkrieg campaign. By utilizing an extended deterrence game analysis, the article demonstrates how Russia, Ukraine, and the West interacted in decision-making, taking into account the reactions and choices of the other players, and adds to the current body of knowledge by introducing an expanded approach to deterrence strategy based on economic interdependence and the scale of the anticipated conflict.