Well, you see they were granted their independence, but that didn't last. Terrorist attacks and kidnappings in Russia were traced back to them. The fact that they held up a school only makes the russians right...

What I would do if I were in charge in Russia is to completely blockade the country. They want independence? Fine. But there will not be one chechen on russian territory. I would establish trade blockades, close all the borders and embargo all of their products (what do they produce, anyway?). It wouldn't be long before they beg to rejoin Russia even if just to have a trading partner.

No offence meant to people with sensitivities in the area. Hypothetical scenario only.