Despite Russia-Ukraine tensions and Fed rate hike uncertainties, Cramer maintains his skepticism towards the market.

• CNBC's Jim Cramer stated on Tuesday that the market needs to become more oversold, as it's not only Russia but also the Fed that is causing the issue. Therefore, it's crucial to proceed with caution.
• Cramer stated that he believes Putin will not be deterred by economic sanctions and considers them to be ineffective: "I think they're just bee stings."
• Cramer stated that the Russia crisis and the Fed's battle against inflation made the market uncertain, and he was not yet ready to give the green light.

Jim Cramer of CNBC stated on Tuesday that the stock market may experience more uncertainty for a few more days until it is determined whether Russia will invade Ukraine or cease recognizing the independence of Luhansk and Donetsk, two separatist regions in Ukraine.

The market needs to become more oversold, as it's not just Russia, but also the Fed. Therefore, we must proceed with caution, said the "Mad Money" host.

"I am skeptical about this market because Putin has a history of ruining our expectations, and I don't see why this time will be any different," Cramer stated on "Squawk Box" before the market opened on Tuesday.

While Cramer was delivering his speech, U.S. stock futures deviated from their overnight lows as world leaders began to exert greater economic pressure on Putin to cease his aggressions against Ukraine.

• On Tuesday, the U.K. declared targeted sanctions against five Russian banks and three affluent individuals.
• The U.S. anticipates declaring additional sanctions against Russia on Wednesday, following a rare U.N. Security Council emergency meeting held on Monday.
• On Tuesday, Germany announced that it would stop the certification process for the Nord Stream 2 pipeline, which would enable the direct delivery of natural gas from Russia to Europe.

Cramer stated that he believes Putin will follow his desires and remain uninfluenced by economic sanctions: "I think they're just bee stings."

On Tuesday, the stock market experienced a decline, with the Dow Jones Industrial Average falling approximately 300 points shortly after the opening. This was slightly weaker than what futures had suggested earlier in the day.

Cramer stated that the Russia crisis and the potential aggression of the Federal Reserve in combating inflation were still unclear, and he was not yet ready to give the green light on the market.

This year, the market anticipates seven Fed interest rate hikes, with the first one occurring in March.

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