TheStreet's Senior Energy contributor Dan Dicker speaks with Jim Cramer about the latest round of sanctions levied against Russia for support of Separatists in Eastern Ukraine. This round of sanctions will prove to be very strict and could greatly harm the Russian economy. They prevent Russian corporate access to US and EU credit markets and ban the use of US fracking technologies in new Russian oil and gas projects. With BP’s huge stake in Russian oil giant Rosneft and Exxon’s new Russian Arctic project in jeopardy, Dicker thinks both are not good stocks to hold right now.

More from Video

Stock Market Just Took Another Beating -- Here's What You Need to Know

Stock Market Just Took Another Beating -- Here's What You Need to Know

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Intel CEO Out After Past Relationship With Staffer - Why Stock Is Now in Play

Intel CEO Out After Past Relationship With Staffer - Why Stock Is Now in Play

Jim Cramer: Williams Sonoma Is a Digitized Play

Jim Cramer: Williams Sonoma Is a Digitized Play

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers

This Is What's Hot Thursday - Stocks Slide, Intel's CEO Woes & Major Movers