Anchored by Jake Tapper, The Lead airs at 4 p.m. ET on CNN.
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(CNN) – Russian President Vladimir Putin arrived in Crimea on Friday to take part in Victory Day celebrations in Sevastopol, in what is his first visit to the disputed territory since Russia annexed it from Ukraine.
Putin is "strutting around" like he owns the joint, because "he does own the joint," says Sen. John McCain, R-Arizona.
The Russian president annexed Crimea "literally without firing a shot," and continues to sow unrest in eastern Ukraine – moves for which he has paid a very small price, says McCain.
"We've sanctioned a handful of people, and he has paid no penalty whatsoever," says the Arizona Republican.
"One of the many disgraces of all this is we still refuse to give Ukraine defensive weapons," says McCain.
The White House believes Putin will target Odessa next, a move McCain says "wouldn't surprise me."
From the major port of Odessa, it would be a "hop, skip, and a jump" to other targets, like Transnistria, Moldova, says McCain.
"The cost-benefit ratio so far has been virtually nothing for Vladimir Putin," says McCain.
For more of our interview with Sen. John McCain, check out the video above.