While U.N. and Syrian opposition forces cautiously welcomed Putin's announcement on Monday, there was skepticism elsewhere. For one, the White House said it would have to wait to assess Russia's true intentions and U.S. officials said they had no advance warning of Russia's withdrawal.
Russia's military intervention in Syria has been seen as a stumbling block to peace as its forces have pounded opposition rebels rather than exclusively targeting ISIS and it could take time for trust to be restored between Russia and other global powers trying to broker a peace deal in Syria.
As such, White House Press Secretary Josh Earnest was cautious in his response to the latest announcement, saying that Russia had previously hindered the path to peace.
"We have talked about how Russia's continued military intervention to prop up the Assad regime made the efforts to reach a political transition even more difficult. That as long as Russia was aggressively weighing in militarily, they were removing at least part of the incentive for the regime to engage in those conversations."
Eurasia Group were also unsure whether the withdrawal would have any traction in the European Union, with whom Russia has a fractious relationship due to sanctions restricting trade, the analysts were wary.
"We still believe the EU is intent on renewing sector sanctions before they expire on 31 July. Today's move may affect European actions later this year or early in 2017. Finally, we don't know the extent of the withdrawal Russia will implement. The Kremlin has announced that much of the infrastructure will remain intact, including air bases at Tartus and Latakia. But we do expect a reduction of assets that will limit Russia's offensive military capabilities in Syria."
- By CNBC's Holly Ellyatt, follow her on Twitter @HollyEllyatt. Follow CNBC International on Twitter and Facebook.