This is CBS Eye on the World.

Here's John Batchelor.

I welcome my colleague and friend.

Professor Richard Epstein of the Hoover Institution teaches law at NYU in the University of Chicago.

The new Trump administration in 25, what is to be done?

We begin with Ukraine.

Richard, the talk is that Mr. Trump and his counselors want the Ukraine war done within 24 hours

or by inauguration day or some short-term schedule. You believe this is impractical and

unnecessary. Why so? Good evening to you. Well, first of all, Mr. Putin is a wily adversary,

and the only kind of settlement you could get within 24 hours would either be unacceptable for

Ukraine or unacceptable to him. What you have to do in order

to get a successful situation is change the material situation on the ground. And so the first

thing that he has to do is essentially to take a couple of hawk-like moves. The first thing he has

to do is to tell the Ukrainians, you've got weapons. We're giving you complete authorization to fire at any spot in Russia

from which they are launching attacks on the Ukraine

so that all the prohibitions on the Biden administration will be removed,

at which point the pressure will be enormous

because most of the sites from which Russia operates are exposed and unprotected,

and so therefore, subject to devastating such.

Second thing I have to do is to flood the market with oil and gas in such a way that

the world prices go down, and when the prices go down, it's an effective sanction against

Putin who can no longer pick things up.

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