Yes, he's held back a lot of the heavy stuff, but I wonder if that's his call or the military leaders. If they go scorched earth in Ukraine they would use up anything that could hold off their friends the Chinese and North Koreans from making moves and annexing territory.
Putin asks a general for an update on the war in Ukraine, who responds. I have good news and bad news.
Putin: What's the good news?
General: The Ukrainians' new supplies are outdated and in ill repair and failing apart.
Putin: That's good, what's the bad news?
General: The Ukrainians have overrun and captured three of our supply depots.