"If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia's fault -- which it might not be -- but if I think it was Russia's fault, I am going to put secondary tariffs on oil, on all oil coming out of Russia," Trump said in an interview with NBC News on Sunday.
The president added that entities that buy oil from Russia would not be able to do business in the United States and said there would be a 25% tariff on all oil if Russia does not reach a ceasefire deal with Ukraine within a month.
"There will be a 25% tariff on oil and other products sold in the United States, secondary tariffs," Trump said.
Still, Trump said the leaders had "a very good relationship" and that his anger would dissipate quickly "if he does the right thing." He noted plans to speak with Putin again this week.
Putin has repeatedly and often called Zelensky the "illegitimate" leader of Ukraine and demanded a change in leadership there since at least 2021. These remarks include a Russian state media report that Putin said Zelensky could not sign any peace documents because of his "illegitimacy" and because Ukraine does not have sovereignty.
But Putin laid off such comments after his Feb. 12 call with Trump, the U.S.-based think tank Institute for the Study of War said in its analysis Friday. Putin gave an interview to Kremlin journalist Pavel Zarubin on Feb. 24 that appears to be the first time he acknowledged Zelensky's proper leadership of the country.
Putin alleged at the time that Zelensky was seeking to avoid negotiations to end the war because it would mean the end to martial law in Ukraine, which would lead to the resumption of elections that were postponed last year because of the war.
Speaking Thursday during a visit to a nuclear-powered submarine, Putin reiterated such claims and suggested that the United Nations could establish an interim government, according to a transcript provided by the Kremlin.
"The current civil authorities in Ukraine have no legitimacy in accordance with the country's constitution," Putin said.
"Ukraine has held no presidential election, while according to the constitution, all key officials are to be appointed by the president, including regional government bodies, governors and so on. So, if the president is illegitimate, so are all the others."
Putin said Zelensky's successor could then declare a resumption in the war by claiming that peace documents were not legitimate. He pointed to several instances where the United Nations formed peacekeeping operations that exerted external rule and temporary administration over countries.
"In principle, it would indeed be possible to discuss, under U.N. auspices with the United States and even European countries -- and certainly with our partners and allies -- the possibility of establishing a temporary administration in Ukraine," Putin said.
"To what end? To conduct democratic elections, to bring to power a competent government that enjoys public trust, and only then to begin negotiations on a peace treaty and sign legitimate agreements that would be recognized worldwide as consistent and reliable."
Kremlin Spokesman Dmitry Peskov appeared to slightly temper Putin's comments by stating they were just one idea "worth considering."
"Russia is dragging out the war, and we are providing our partners with full information on the strikes the Russian army is carrying out and the actions it is preparing for," Zelensky said in a statement Sunday. "We expect a response from the United States, Europe and all our allies to this terror against our people."
The Economist reported that Ukrainian elections could be held as early as June. That timetable would require a ceasefire to be reached by May 8 in accordance with Ukrainian law.
The Russian Defense Ministry in a war update Sunday claimed major advances on multiple fronts in Ukraine.
The ministry said it captured Zaporozhe in the Donetsk region of eastern Ukraine and struck over a dozen brigades near key cities like Kupyansk, Volchansk, and Chasov Yar. Moscow reported killing over 1,300 Ukrainian troops in a single day and destroying Western-supplied vehicles, artillery, and radar systems.
The Ukrainian Defense Ministry in turn said it had killed an estimated 1,510 Russian troops while destroying 14 tanks and 111 tactical drones, among other Russian weapons.
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