Cramer sees buying opportunities in Ukraine upheaval

Cramer: How to play the Ukrainian crisis

Fear over the continuing standoff on the Crimean peninsula could create openings for the value-seeking investor, CNBC's Jim Cramer said Monday.

Echoing quotes from Warren Buffett's interview with CNBC earlier Monday morning, Cramer said he agreed with the famed investor that the quickly escalating crisis in Ukraine shouldn't change the long-term outlook on stocks and other investments.

Stocks opened Monday sharply lower on fears over a potential military conflict between Ukraine and Russia, with the Dow seeing a triple-digit decline, and that means Cramer sees buying opportunities.

(Check out the latest happenings in the Crimean peninsula on CNBC's live blog)

Cramer said unless they're worried about the energy situation in Germany or trading the Russian ruble, investors should treat the market's downward swing as they would any other selloff.

"This is where you would pick," Cramer said on "Squawk on the Street." "You're getting a chance. We had a big selloff on Friday and we kind of rallied in the last half-hour. If we can get those prices we did at 3:30 [p.m. on Friday] then count me in."

(Read more: Russian markets hit as Putin tightens grip on Crimea)

The question investors should ask, Cramer said, is how this international incident compares with past global events that were said to have weighed heavily on markets. After that, it's about finding the best value. Cramer sees upside in energy stocks, and momentum-driven companies such as, he said.

"I hate up openings on Mondays, and I don't mind down openings," Cramer said. "Be careful what you do buy."

—By CNBC's Jeff Morganteen. Follow him on Twitter at @jmorganteen and get the latest stories from "Squawk on the Street."