Donald Trump has threatened to destroy the Russian economy if the Kremlin does not sign a ceasefire agreement with Ukraine.
The US president said that if necessary, "there are things that could be done that would not be financially pleasant" and would be "very bad for Russia."
"We could do very bad things to Russia. It would be devastating to Russia. But I don't want to do that because I want to see peace," he said.
The threat comes amid increased pressure on Moscow to accept a 30-day ceasefire in Ukraine.
Trump said the US has "people going to Russia right now," following reports that his Middle East envoy Steve Witkoff would travel to Moscow this week.
"We hope we can reach a ceasefire," he told reporters, adding that "it's in Russia's hands now."
But Vladimir Putin is said to be reluctant to accept a ceasefire deal, even as Russian forces are making significant gains on the battlefield, recapturing Sudzha, a key town in his Kursk region.