Former deputy national security adviser under President Trump, KT McFarland, warned sanctions will not deter Vladimir Putin since his "coffers" are full, and he has "political leverage over Europe." McFarland joined "Fox & Friends" to discuss the Biden administration's response to the Russian invasion of Ukraine, arguing the best thing President Biden could do is unleash the American energy industry to counter the rise in energy prices and swipe Putin of his leverage.

RUSSIA-UKRAINE CRISIS: BIDEN'S TWIN FAILURES ON ENERGY AND FOREIGN POLICY GAVE PUTIN TOOLS TO INVADE

KT MCFARLAND: The single most important thing that President Biden can do, forget the sanctions and all the others he could… tell the American people, I am reopening the American energy industry. In fact, Providence has given us the greatest stockpile and supplies of oil and natural gas of any other region in the world. I'm going to open that up, and then he could go to the Germans and the Europeans and say, I'm going to give you energy security. Buy cheap, clean American natural gas. Forget about the Russians. He could then go to the Asians and say, I'm going to supply you with energy as well. Not only would that take away the leverage of Russia and China, it would also drive the prices of energy down and bankrupt Russia. They need high revenues from oil, or they can't pay for anything else.

WATCH THE INTERVIEW FROM ‘FOX & FRIENDS’ BELOW:

KT McFarland on the 'single most important thing' Biden can do to counter Russia's war in Ukraine

White House expected to announce severe sanctions on Russia Thursday