I agree, he has no credibility at all. He accuses the "Kiev regime" - Zelensky's government -of genocide, and says the operation is to demilitarise Ukraine, but apparently that was going to be achieved without using any force. It's not going to go down as one of the all time great speeches in history; but I think the media was pretty fair to understand this as an intention to conquer the whole country.
"The purpose of this operation is to protect people who, for eight years now, have been facing humiliation and genocide perpetrated by the Kiev regime. To this end, we will seek to demilitarise and denazify Ukraine, as well as bring to trial those who perpetrated numerous bloody crimes against civilians, including against citizens of the Russian Federation.
It is not our plan to occupy the Ukrainian territory. We do not intend to impose anything on anyone by force."