Well show you some of the artistic options. First heres my take. Whatever happens in ukraine over the next few months and years, the crisis has reminded me that there are really two kinds of rulers around the world. Those who think about the past and those who think about the future. And if it werent abundantly clear already, it is now. Vice preside Vladimir Putin is the first group and his country the poorer for it. Weve all learned some lessons in russian history. Crimea was the first great prize for russia and a mark of russias rise to great power status. It also gave the russians something they never had, a warm water port with direct access to the mediterranean and wider world. Russia held on it to the region even though it lost the crimean war in the 19th century. It maintained its grip on the region after reclaiming it from the nazis in early 44. Then came the strange and fateful twist when soviet premier nikita crish nof gifted crimea to the ukraine. Why he did that, we mains somewhat unclear. What ever the reason the consequences are lasting and dramatic. History is bunk henry ford said. He did not mean it was unimportant but rather people should not be trapped by it, that they should not think backward but rather forward. His exact words were, history is more or less bunk. Its tradition. We dont want tradition. We want to live in the present and the only history that is worth a tinker is the history that we make today. The history that leaders make today has much less to do with geography or constraints from the past. When singapore was expelled from malaysia in 1965, the experts said that small swampy town in the middle of nowhere could not survive as an independent country. It is now one of the worlds great trading hubs with a per capita income higher than that of its colonizer Great Britain because its founder thought less about the disyang vangs of history. When the nationalist chinese were abandoned by the world on a tiny island after the communist revolution in china in 1949 most assumed the place would not survive. In the most precarious position with zero natural resource, taiwan became one of the Fastest Growing economies for over four decades. Thats because it didnt worry about geography. It obsessed about competitiveness. When paul took over rwanda, the country was more deeply ravaged by history than almost any nation. Scarred by a genocide of a speed never seen before in the past. Rwandas also landlocked with no geographic advantages at all and a bloody war in the neighboring democratic republic of conga. They looked to the future, not the past. The result is a small african miracle. A country healing its wounds. There are those who are still trapped by history and geography, think of pakistans generals, still trying to establish strategic depth in their backyard while their country collapses. Or think of putin, who is as secretary of state john kerry said, playing a 19th century game in the 21sst century. What has he achieved . Ukraine has slipped out of his grap, his people suspicious of moscow n crimea the 40 who are nonrussian are probably resentful. Moscows neighbors are alarmed and once warming relations with poland will be set back, trade and investment with europe and the United States will surely suffer. Meanwhile russia continues along its path as an Oil Dependent state with an increasingly authoritarian regime that has failed to develop its economy or Civil Society or foster political pluralism. But no matter, moscow controls crimea. In todays world, is that really a victory. For more go to cnn. Com fareed. You can read my time column. Lets get started. Ill be back with much more later on in the show. For now lets go to cnns jim sciutto for the latest. Thank you, fareed. Lets begin where you left off. Wrist russias annexation of crimea which president putin finalized with a flourish of the pen. Also at the end of the week, of course, came the u. S. And eu sanctions against russia and countersanctions from moscow. The sanctions target some 20 individuals seen as close to putin and a bank used by that inner circle of his called rosia, russia in russian. The eu sanctions 12 individuals including Russias DeputyPrime Minister and chairwoman of the upper house of parliament, so how is moscow reacting . Well go to Cnns Fred Pleitgen in russias capital. Its a small group but a powerful group and these sanctions designed to hit them right in the wallet. Are they working . Any signs theyre working . Are the russian leaders of that inner circle hurting from them . I would say, jim, they hurt a lot more than the first round of sanctions that happened last monday. You can tell that russian reaction to it has been a lot more sour than you would have seen in the past. Its really a mixed bag of reactions that were seeing from the russian government. There are those in the Foreign Ministry who say we have to hit back with really hard sanctions against the United States. Theres also people in the Government Office who are saying they want mirrored sanctions and to hit additional u. S. Lawmakers, not just the ones theyve put sanctions on. Vladimir putin had a very interesting reaction to all of this. He was in public and said, he really didnt want to have any sort of counter sanctions. He felt there neednt be any sort of reaction. There is the case these are hurting these very these people close to Vladimir Putin very, very badly. You can tell that there is a degree of nervousness, not just among them, but among a lot of the other top russian business people. And especially the fact that bank was hit was something that really hit russians very, very hard. There were apparently some people abroad trying to pay with visa and mastercard, highprofile russians that couldnt get any sort of money. However, its not something thats deterred Vladimir Putin at all. The process of annexing crimea as you mentioned went forward. Theyre talking about what the additional things are going to be that theyre going to do in the future. Doesnt seem as though its holding Vladimir Putin back. There is a more sour reaction than you would have seen in the past, jim. Well, the u. S. News aiming right for the very top. Thanks very much, Fred Pleitgen in the capital moscow in russia. In the end will the u. S. And eu sanctions against russia be at all effective . What could make them more effective as well . What about russias countersanctions against washington . Officials like House Speaker boehner and Senate Majority leader harry reid . Do those have any bite in the u. S. . Were going to two experts. Juan who worked in the white house and Treasury Department in the george w. Bush administration, wrote the book on sanctions treasury war the unleashing of new era of financial warfare explains how they took sanctions and other economic sanctions to a new level against enemies like al qaeda and Saddam Hussein and also a cbs Senior National security analyst. And ian bremer, the president and founder of the eurasia group, one of the best in the business when it comes to analyzing how Political Developments will affect markets and economies. Welcome to both of you. I want to start if i can with juan. You are the architect of this strategy of sanctions, as your book mentions. Going back to Saddam Hussein. But also continuing currently with iran, sanctions that arguably have had a great deal of success. It is early admittedly in this game, but do you see any signs at this point that the sanctions against russia are working, are changing puttps behavior . Thank you, jim. I do think these are the kind of sank shngs that work will work but likely in the long term. The premise behind these kinds of measures is to unplug russian banks, businesses, key business leaks, from the International Banking and commercial world. That is what has been at the heart of the isolation of iran and other sanctions of processes that weve put in place. What youve seen with the naming of banker, the 17th largest bank in russia, the first salvo in beginning to unplug the Banking System from the global system. Thats why you saw a shiver in the markets, which i think is a good indicator, and also in the investment community. Ive heard from a lot of them where theyre very concerned about the instability and uncertainty as to what comes next. That ultimately hurts the bottom line of the russian elite, russian businesses, and putins inner circle. Whether or not that can impact short term, thats a different question. I dont think these are a silver bullet, but certainly these can bite and they will cost the russian economy. Reports of Russian Energy traders, for instance, uncertain whether they can access certain banks in europe to make trades and thats hitting russia right in the wallet. I wonder if i can bring you in, because youve been something of a skeptic of this strategy. Ive been following your comments on twitter and elsewhere. Im just for the sake of our viewers going to put one of your recent tweets up regarding the u. S. And russian standoff over ukraine. You said recently, war of words between u. S. And russia. Pretty much a draw. Actions all putin. Do you still agree with that now that weve begun to see some sanctions that all the actions are on moscows side as opposed to washingtons and europes side . The actions are asymmetric, theres no question this is having a negative impact on the russian economy. Putins Approval Ratings have gone up 15 points since this ukrainian crisis has begun. Gave as historic speech that many rush yap, a strong majority, were waiting 20 years for a russian leader to give, that said look, the americans have been happy with russian decline, assisted it in terms of nato enlargement and were not going to take it anymore. Were going to stop them at ukraine, we consider to be our territory. The fact is that putins interest and russian governments interests in maintaining their hold on ukraine is greater than that of any economic sanctions that the United States and to a lesser degree as were seeing the europeans can effect upon them. As a consequence we can cause damage to the russian economy, certainly rupture further u. S. Russian relations and that may be something we wish to do because we want to prove a point. If what were trying to accomplish in the near term with the sanctions if the goal in the near term is to try to bring this crisis towards a close, certainly the sanctions will not accomplish that end. Juan, ian makes a good point there, that going in, Vladimir Putin must have made a calculation of what the economic costs of this might be. Do you think hes made such a calculation and how high do you believe a cost that hed be willing to endure on this, particularly as the sanctions begin to target not just individuals but entities like you mentioned the bank row see ya. Putin has had first mover advantage all along and weve been calibrating and reacting with whatever measures we can absent military force. I think what president putin probably calculated was twofold. One, that the response would not be as vigorous as it could be. Europe is obviously dependent on russian oil and gas, trade between europe and russia is about ten times the trade that the u. S. Has with russia. He understands the dependencies there. He also understands that russia can bite back. His aides, his foreign minister and others, have made very clear that not only will there be tit for tat measures, listing of u. S. Legislate tors and others, they can take simpler measures against western businesses and banks. Weve seen them use tax investigations to harass. They can do things a bit more nefarious in the economic realm. I think hes calculated not only is the west probably cowed in going too far in the measures, but that russian bite back can actually deter further economic pressure. I think thats where we are in the policy calculus in washington as well as in brussels. Ian, i wonder, though, you know, you can bend boehner and mccain and reid from russia but its a different situation, right . Russian leaders have a lot of investments abroad, they store their money abroad, own apartments in london and new york, boehner, mccain and reid dont do the same in russia. Can they really exact a price thats equivalent from american officials, from european officials . No. Because the economy of the United States is vastly greater. Were not very exposed to russia. Europes economies are much more exposed and why the europeans have chosen thus far not to go after the ollie gashgs, after the russian bank. The European Response a little softer than the american response. Putin very aware of that. When the United States says kigsly our formulation has been look, if you dont behave, were going to isolate you, thats exactly the language we used against north korea. North korea is a tiny country. You cannot isolate the russians. The russians have a strong economic relationship with china. Which is going nowhere. Putin is going to go to beijing in may, sign a Massive Energy deal. Its going to make it clear if the americans want to isolate the russians, thats a lovely policy . Principle. Its not one we have the ability it follow up on. I would think after our experience with the failed red line on syria, we would want to be a little more temperate as to ensure when were making embolden claims against countries doing stuff we dont want, that we can actually follow through with them. We are not going to be able to do that here. Well, you make a good point. That alliance between russia and china key in the u. N. Security council could be key here as well. Thank very much to both of you, ian bremer, juan za ratty. I have two intriguing developments to tell you about the search more the missing Malaysian Airlines plan. Ill tell you about them after this break. Predibut, manufacturings a prettin the United States do. Means advanced technology. We learned that Technology Allows us to be craft oriented. No ones losing their job. Theres no beer robot that has suddenly chased them out. The technology is actually creating new jobs. Siemens designed and built the right tools and resources to get the job done. 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Its now been 16 days since Malaysia Flight 370 and the 239s souls on board disappeared without a trace. But in recent days, a series of satellite images have been found showing large pieces of debris in the southern ocean. Most recently, today, malaysia announced french satellite images showed, quote, potential objects unquote, in the same vicinity of the southern corridor of that search area. Neither france norma lay shah have released those yet. Joining me miles obrien. Miles, i want to get to those new satellite images but another Interesting Development today, thats malaysian authorities saying, indeed, there is no evidence that turn to the west after the plane lost contact was, in fact, preprogrammed into the flight computer. Thats a key detail. That information was used to but tress the theory that this turn and, in fact, the disappearance might have been intentional somehow on the part of the pilots. I wonder if you can walk our viewers through how important this word is from malaysian authorities. Its a game changer if it turns out to be true. Weve had so much inconsistent information i never know what to take as gospel for a moment. Lets assume that wasnt preprogrammed in. That was the run really shred of evidence that was out there that would indicate that the crew might have had some intent to do something that was nefarious. Now, so if you accept that it wasnt preprogrammed in, that raises the possibility or puts a higher on the list of possibility that some sort of catastrophic event occurred shortly after that signoff which for some reason, made it impossible for the crew to communicate and necessitated a