CCTV Script 27/08/14

— This is the script of CNBC's news report for China's CCTV on August 27, Wednesday.

Welcome to the CNBC Business Daily, I'm Qian Chen.

It's a political pow-wow over in Minsk.

With Ukraine's President Pedro Poroshenko promising to work on an urgent ceasefire plan to end the bloodshed in eastern Ukraine.

It comes after face-to-face talks with Russian President Vladimir Putin in Minsk.

The 2 leaders agreed on the need to end the bloodshed.

Putin urged for the process to start as soon as possible, and that Russia would do what it could to help that process along.

He made it clear it was in Ukraine's hands.

But this begs the question -- what is the end game for Putin?

[KURT VOLKER / Executive Director, McCain Institute] "First off, you have to distinguish between what Putin says and what Putin does. He says things for effect. And he also takes actions for effect. His words are meant to soothe the international community, his actions are aimed at actually gaining power and territory for Russia. I don't think we can say that he has a particular end state in mind, that I'm going to take this and not that. I think instead he has more positional things in mind."

[COLIN CHAPMAN / President, NSW, Australian Institute of International Affairs] "Putin wants people to know that he is ready for a big big fight. And this is all part, I suspect, not of an invasion as some suggest.. but really a negotiating position because he really does want to try and get the west to come to terms with him on some of his core demands. I don't think this is just a land grab over a bit of Ukraine. I can't see the real benefit of that. But the west is not going to conceive that. There's an important NATO meeting coming up next week in which NATO's likely to reinforce its position."

[JOHN HERBST / Former Ambassador Ukraine (2003 to 2006) / Atlantic Council Director, Eurasia Center] "Mr Putin's minimal goal is to ensure instability in Eastern Ukraine. He's willing to stop the irregular war he's running against Ukraine if the government in Ukraine decides to follow Putin's orders and ally itself with Russia rather than seeking its economic future with the European Union."

But how's the situation looking from Ukraine's point of view?

With their economy still very fragile... and its economy still dependent on energy from its neighbors..

How much leverage does Ukraine have at this moment?

[KURT VOLKER / Executive Director, McCain Institute] "Frankly, Ukraine is in a very dire situation. They had economic difficulties and political difficulties before Russia instigated this crisis. Now they've lost part of their territory. There's fighting going on in the east. There are refugees, and there's a dependence on Russian energy still. So they are quite vulnerable and in a very difficult position."

The talks came as Ukraine forces captured a group of Russian paratroopers who had crossed into Ukraine on a "special mission".

Moscow however said they had ended up there by mistake.

I'm Qian Chen, reporting from CNBC's Asian headquarters.

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