With tensions escalating in Ukraine and Russia using its military to assert control over the Crimea region, many are pointing back to this moment from the 2012 presidential debate on foreign policy.

Obama: Russia Is On the Wrong Side of History

President Obama mocked Mitt Romney for his concerns about Russia under Vladimir Putin, joking that the "1980s are now calling to ask for their foreign policy back." He chided Romney for looking to implement outdated Cold War policies.

Romney fired back that he has "clear eyes" on Russia, describing them as a top "geopolitical foe" of the U.S., and accusing Obama of wearing "rose-colored glasses" in his dealings with the Kremlin.

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Fox News legal analyst Peter Johnson Jr. stopped by Fox and Friends this morning to offer his take on how the president is handling the tense situation, as Ukraine's prime minister warns that the country is "on the brink of disaster."

Johnson pointed out that Obama was on the phone for 90 minutes with Putin on Saturday, but the situation did not change. That came after Obama warned Friday afternoon of "costs" if Russia used its military in Ukraine. Putin asked for and received approval from parliament to move troops into Crimea the very next day.

"The world is waiting to see what America does with regard to this incursion into Crimea, and hopefully not the whole of Ukraine," said Johnson.

Watch the interview and stay tuned to Fox News throughout the day for continuing coverage and analysis of the Ukraine crisis.

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