1. ‘It’s simplistic to think in terms of east versus west in today’s global, multi-polar world.’ A classic this: the phrase can be adapted and used in just about any serious conversation about anything. Say it early in the discussion, before anyone else can.
2. ‘Sevastopol is of great strategic importance for Putin, especially  given the ongoing situation in Syria.’ A useful ploy, this remark establishes you as a bigger-picture guy, who grasps the geopolitics of both eastern Europe and the Middle East — and that global, multi-polar world you were just talking about.
3. ‘What we are seeing here is the return of geography.’Similar to the last, this one neatly lifts you away from the intricacies of Eastern European diplomacy and has the advantage of being almost completely meaningless. 
4. ‘The similarities with Hitler and the Sudetenland/Anschluss/Peter the Great/ Stalin and the Tartars/Genghis Khan are striking.’Historical analogies are invaluable to the experienced bluffer, but the amateur must tread carefully. It is terribly easy to become unstuck in the past. When in doubt, hedge: ‘I am not saying that Putin is Hitler, but …’ or ‘it’s easy to get carried away with these comparisons, but …’ Try to look pained, as if contemplating both the complexity and the imminent possibility of human suffering.
5. ‘Ukraine literally means “borderland”, of course’ — easy one to remember, but a sentence that hints at real wisdom. It has the added benefit of not requiring any follow-up knowledge. Use in the context of ‘statelets’, ‘the great game’ and ‘annexation’.

Many thanks to Shravan Bhat for the pointer. Read the full version by Freddy Gray on The Spectator