EXCERPTS: Charlie Gibson Interviews Sarah Palin

GIBSON: And you think it would be worth it to the United States, Georgia is worth it to the United States to go to war if Russia were to invade.

PALIN: What I think is that smaller democratic countries that are invaded by a larger power is something for us to be vigilant against. We have got to be cognizant of what the consequences are if a larger power is able to take over smaller democratic countries.

And we have got to be vigilant. We have got to show the support, in this case, for Georgia. The support that we can show is economic sanctions perhaps against Russia, if this is what it leads to.

It doesn't have to lead to war and it doesn't have to lead, as I said, to a Cold War, but economic sanctions, diplomatic pressure, again, counting on our allies to help us do that in this mission of keeping our eye on Russia and Putin and some of his desire to control and to control much more than smaller democratic countries.

His mission, if it is to control energy supplies, also, coming from and through Russia, that's a dangerous position for our world to be in, if we were to allow that to happen.

Sarah Palin on Iran and Israel:

GIBSON: Let me turn to Iran. Do you consider a nuclear Iran to be an existential threat to Israel?

PALIN: I believe that under the leadership of Ahmadinejad, nuclear weapons in the hands of his government are extremely dangerous to everyone on this globe, yes.

GIBSON: So what should we do about a nuclear Iran? John McCain said the only thing worse than a war with Iran would be a nuclear Iran. John Abizaid said we may have to live with a nuclear Iran. Who's right?

PALIN: No, no. I agree with John McCain that nuclear weapons in the hands of those who would seek to destroy our allies, in this case, we're talking about Israel, we're talking about Ahmadinejad's comment about Israel being the "stinking corpse, should be wiped off the face of the earth," that's atrocious. That's unacceptable.

GIBSON: So what do you do about a nuclear Iran?

PALIN: We have got to make sure that these weapons of mass destruction, that nuclear weapons are not given to those hands of Ahmadinejad, not that he would use them, but that he would allow terrorists to be able to use them. So we have got to put the pressure on Iran and we have got to count on our allies to help us, diplomatic pressure.

GIBSON: But, Governor, we've threatened greater sanctions against Iran for a long time. It hasn't done any good. It hasn't stemmed their nuclear program.

PALIN: We need to pursue those and we need to implement those. We cannot back off. We cannot just concede that, oh, gee, maybe they're going to have nuclear weapons, what can we do about it. No way, not Americans. We do not have to stand for that.

GIBSON: What if Israel decided it felt threatened and needed to take out the Iranian nuclear facilities?

PALIN: Well, first, we are friends with Israel and I don't think that we should second guess the measures that Israel has to take to defend themselves and for their security.

GIBSON: So if we wouldn't second guess it and they decided they needed to do it because Iran was an existential threat, we would cooperative or agree with that.

PALIN: I don't think we can second guess what Israel has to do to secure its nation.

GIBSON: So if it felt necessary, if it felt the need to defend itself by taking out Iranian nuclear facilities, that would be all right.

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