Trump says Russian oligarchs could be eligible for $5 million US 'gold card'

Russian oligarchs could be eligible to apply for the "gold card," a $5 million path to U.S. residency and citizenship that U.S. President Donald Trump announced on Feb. 25.

Trump unveiled his "gold card," a scheme to attract "people of wealth" to the U.S. while speaking to reporters in the Oval Office on Feb. 25.

"We're going to be putting a price on that card of about $5 million and that's going to give you green card privileges, plus it's going to be a route to citizenship," he said.

Trump said individuals who apply for the card would be heavily vetted, but did not name any countries that would be restricted from the program. When asked if Russian oligarchs would be eligible for the gold card, Trump said they could likely apply.

"Yeah, possibly. Hey, I know some Russian oligarchs that are very nice people," he said.

Trump said Russian oligarchs are "not quite as wealthy as they used to be," an apparent reference to Western sanctions, but did not object to the idea of such individuals applying for the gold card.

"I think they can afford $5 million," he said.  

The Trump administration had previously taken measures to soften Washington's stance against Russian elites, shutting down a government task force that sanctioned Kremlin-linked oligarchs.

The White House has meanwhile cracked down on immigration, suspending multiple programs allowing migrants to enter the country, including an initiative for Ukrainians established by former U.S. President Joe Biden.  

Trump has made increasingly friendly overtures to Moscow in recent days, including speaking with Russian President Vladimir Putin and arranging direct talks between U.S. and Russian officials without Ukraine's participation.

Trump also said he's open to striking a deal with Russia regarding rare earth deposits.