US President Donald Trump unveiled plans Tuesday to sell new "gold card" residency permits for $5 million each, with Russian oligarchs potentially eligible.

"We're going to be selling a gold card. You have a green card, this is a gold card. We're going to be putting a price on that card of about $5 million," Trump told reporters in the Oval Office.

Trump said the sales would bring in job creators and help reduce the national deficit.

"A lot of people are going to want to be in this country, and they'll be able to work and provide jobs and build companies," he said. "It'll be people with money."

Sales are set to begin in about two weeks, and Trump added, "We'll be able to sell maybe a million of these cards."

The cards will be carefully vetted, Trump said, and when asked about Russian oligarchs, he replied, "Possibly. I know some Russian oligarchs that are very nice people. It's possible."

Trump suggested the cards could also be named after him: "Somebody said, 'Can we call it the Trump gold card?' I said, 'If it helps, use the name Trump.'"