JANE HARMAN, PRESIDENT & CEO, WILSON CENTER: He's in bad shape. He's trying to borrow money on the international market. We should dry that up. We should ratchet up our sanctions. President Obama says we are ready to tee them up. Tee them up, and go against his oil and gas sector. Yes, it will hurt U.S. firms in the short term and make it harder for U.S. to get fuel in the short term, but longer term it will stop this man and be far less expensive and it will save a lot of lives --</s>HARMAN: -- we have to go into a NATO country.</s>WOLF BLITZER, CNN ANCHOR: Because in the short term, if that gas station, as McCain calls it, from Russia dries up, it will really hurt countries like Germany and other friendly countries in central and Eastern Europe who rely on that energy exports.</s>HARMAN: There are other sources of gas and oil.</s>BLITZER: In the short term.</s>HARMAN: In the short term, yes, it will hurt. In the longer term, it will help. Let's remember we have these new-found gas resources in America. And if we are smart about this, next year, we're going to start exporting LNG from Houston. Over the near term, we can become the gas station and fuel station and we can think about cleaner better fuels for Europe and that will help build jobs in America and secure us against tyrants like Putin and also imploding governments in the Middle East.</s>BLITZER: It will take a while. Jane Harman, from the Wilson Center, thanks for coming in. Still ahead, South Korean students return to the high school where hundreds of their students are dead or missing in that ferry disaster. We'll have the latest on that story as well. And we'll also have more from our own Richard Quest and his exclusive interview with the Malayan prime minister. It just wrapped up. Stand by.
Obama: More Russian Sanctions Teed Up