Will the Iran nuclear deal be undone under Trump?

This is a RUSH transcript from "The O'Reilly Factor," November 21, 2016. This copy may not be in its final form and may be updated.
Watch "The O'Reilly Factor" weeknights at 8 p.m. and 11 p.m. ET!

BOLLING: In The Factor "Follow-up" segment tonight, President-elect Trump and the Iranian nuclear deal. During the campaign, Mr. Trump laced into the Obama administration over that nuclear agreement.


DONALD TRUMP (R), THEN-PRESIDENTIAL CANDIDATE: This is one of the worst deals ever made by any country in history. The deal with Iran will lead to nuclear problems. All they have to do is sit back ten years.


BOLLING: With much of Obama's foreign policy legacy hanging on the deal's success, "The Wall Street Journal" is reporting that his administration is considering measures to strengthen the agreement before Donald Trump takes over.

Joining us now from Washington for analysis, Fox News' strategic analyst, Colonel Ralph Peters. Colonel, your thoughts on President Obama -- he has 59 days left and will go after one of the things that Donald Trump was highly regarded for to break up that Iran nuclear deal. Your thoughts?

LT. COLONEL RALPH PETERS, FOX NEWS STRATEGIC ANALYST: President Obama speaking without hyperbole has been the most disastrous foreign policy president of my lifetime or yours, Eric. And now he's not thinking this through.

He's so desperate and so fervently crazed to preserve this inept nuke deal with Iran, he's not thinking it through. He's trying to box Trump in. The problem is he's going to be able to do it. He's granting business licenses for U.S. corporations.

He's allowing U.S. corporations to do deals that involve the Revolutionary Guards with fig leaf where they cannot control a majority stake. He's lifted sanctions. The Europeans are not --

BOLLING: That's a big one, Colonel. He will further lift sanctions to do more dealings with Iran, but even before we know if they'll abide by their end of the agreement.

PETERS: We know they're not abiding. Here's the point. With Obama taking away the peaceful tools we have to influence Iran, sanctions, withholding licenses, trade and dollars, he is making it inevitable -- Mr. Nobel Peace Prize president is making it inevitable that we will wind up shooting at Iranians and with Iranians shooting at us.

Military option is all Obama is leaving the next president and with Iranians running wild across the Middle East, destructive, Syria, Iraq, Yemen and elsewhere, Lebanon, Gaza. We have no options left but to pull triggers and that's sad. What a legacy.

BOLLING: He can always reinstitute sanctions and maybe stop that cash flow that we promised them that we are handing over, possibly too late.

Let's move to this other one. Earlier we saw President Obama meeting with Vladimir Putin, Russian President Putin. It was a bit of an icy exchange. The two of them staring down each other a little bit.

Your thoughts on whether or not a Donald Trump presidency will soften that or I guess melt some of the ice between the two countries?

PETERS: My greatest worry about the president-elect is that he either doesn't understand Putin and Russia -- he just doesn't get it. Vladimir Putin is our implacable enemy not because we choose but it's engrained in him. It goes to his little black heart. He hates the United States. He wants to hurt us.

He's humiliated two U.S. presidents in a row, George W. Bush and Barack Obama, and he is good. Westerners always underestimate Putin. He did influence our election through Wikileaks.

I'll tell you that's the one area in foreign policy where I see Mr. Trump as very, very vulnerable. He needs to get smart on Russia. Putin will never be our friend.

BOLLING: Colonel Peters, what is the ulterior motive in all of this?

PETERS: Putin is very straightforward. In short-term he wants sanction relief because the Russian economy is hurting. He wants Trump to recognize Crimea as a legitimate part of Russia. Above all, he wants to --

BOLLING: Is that what he's looking at? So Russia can further taking of Ukraine?

PETERS: He wants the eastern two-thirds of Ukraine. Western parts of is complex story on that one. He's trying to re-establish not the Soviet empire. He knows he can't do that. He's trying to re-establish the empire of the czars. Problem is that includes Eastern Poland, Central Asia, et cetera. So his goals are simple. He wants to stick it to us. He wants to break up NATO. He's passionate about it.

BOLLING: It's insane, Colonel. It's in Russia's best interest if we do well. If our economy is strong, we use a lot of oil. Russia, that's their number one export is oil. They would want a stronger U.S. economy I would think.

PETERS: You have to understand the Russians. One of these Russians (inaudible), they would cut off their arm if they knew it would mean we had to cut off our finger.

BOLLING: All right, we'll leave it right there. Colonel Peters, thank you very much.

Content and Programming Copyright 2016 Fox News Network, LLC. ALL RIGHTS RESERVED. Copyright 2016 CQ-Roll Call, Inc. All materials herein are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of CQ-Roll Call. You may not alter or remove any trademark, copyright or other notice from copies of the content.