Russian S-300 missiles during a training exercise last year (Picture: Russian Ministry of Defence).
President Donald Trump said Russia had "violated" the 1987 Intermediate-Range Nuclear Forces (INF) treaty.
The 1987 pact, which helps protect the security of the US and its allies in Europe and the Far East, prohibits the United States and Russia from possessing, producing or test-flying a ground-launched cruise missile with a range of 300 to 3,400 miles.
The US President told reporters:
"Russia has violated the agreement. They have been violating it for many years."
He added: "and we're not going to let them violate a nuclear agreement and go out and do weapons and we're not allowed to."
The agreement restrained the US from developing new weapons - but America will begin developing them unless Russia and China agree not to possess or develop the weapons, President Trump said.
China is not currently part of the pact.
"We'll have to develop those weapons, unless Russia comes to us and China comes to us and they all come to us and say let's really get smart and lets none of us develop those weapons, but if Russia's doing it and if China's doing it, and we're adhering to the agreement, that's unacceptable," Donald Trump said.
National Security Adviser John Bolton is heading to Russia, Azerbaijan, Armenia and Georgia.
His first stop is Moscow to meet with senior Russian officials at a time when Moscow-Washington relations remain frosty over the Ukrainian crisis, the war in Syria and allegations of Russian meddling in the 2016 presidential race and upcoming US midterm elections.
US officials have previously alleged that Russia violated the treaty by deliberately deploying a land-based cruise missile in order to pose a threat to Nato.
Russia has claimed that US missile defences violate the pact.
In the past, the Obama administration worked to convince Moscow to respect the INF treaty but made little progress.
"If they get smart and if others get smart and they say let's not develop these horrible nuclear weapons, I would be extremely happy with that, but as long as somebody's violating the agreement, we're not going to be the only ones to adhere to it," President Trump said.