Addressing the World Economic Forum, the US president pledged to apply pressure on OPEC, claiming that a drop in the price of oil would end Russia's full-scale invasion of Ukraine.

In his first major remarks on Ukraine after re-entering the White House, the US president urged Putin to “settle now and stop this ridiculous war” or face intensified sanctions, taxes and tariffs, adding: “We can do it the easy way, or the hard way.”