Jonas' nice answer leaves open the question of whether every torsion-free abelian group $A$ admits a ring structure, since his argument does not apply to this case. So here is a torsion-free counterexample.
Consider the abelian group $A \subset \mathbb{Q}$ consisting of rational numbers of the form $\frac{a}{b}$ where $b$ is squarefree; equivalently, this is the additive subgroup of $\mathbb{Q}$ generated by $\{ \frac{1}{p} \}$ where $p$ runs over all primes. Since we use infinitely many primes, any finitely generated subgroup can only consist of rational numbers with denominators divisible by a finite set of primes, so $A$ is not finitely generated (we will need this later).
Now, if $\ast : A \times A \to A$ is a ring structure on $A$ (for me all ring structures are unital) then it defines by currying a map
$$A \ni a \mapsto (a \ast (-)) \in \text{End}(A)$$
sending an element $a \in A$ to the operation of left multiplication by $a$, which is an additive homomorphism (by distributivity) and injective (since if $a \neq 0$ then $a \ast 1_A \neq 0$). So:
Corollary: If $A$ is an abelian group such that $\text{End}(A)$ does not admit an additive subgroup isomorphic to $A$, then $A$ cannot have a ring structure.
Now we in fact have that
$$\boxed{ \text{End}(A) \cong \mathbb{Z} }.$$
To see this, let $f : A \to A$ be an endomorphism. Then $f$ acts by multiplication by $n = f(1) \in \mathbb{Q}$ on $\mathbb{Z} \subset A$. To extend this action to all of $A$ we consider
$$b f \left( \frac{a}{b} \right) = f(a).$$
All divisions in $A$ are unique when they exist (since this is true of $\mathbb{Q}$), so if $b \neq 0$ then $f \left( \frac{a}{b} \right) = \frac{f(a)}{b}$, and it follows that $f$ acts by multiplication by $n \in \mathbb{Q}$ on all of $A$. But we must have $n \in \mathbb{Z}$ or else multiplication by $n$ is not defined on some fraction $\frac{1}{p}$ (for some prime $p$ dividing the denominator). So $n \in \mathbb{Z}$ and $\text{End}(A) \cong \mathbb{Z}$ as desired, and $\mathbb{Z}$ does not contain $A$ as a subgroup (e.g. because $A$ is not finitely generated).
There is a dual argument that can be used to rule out groups like $\mathbb{Q}/\mathbb{Z}$ as mentioned elsewhere in the discussion here: another necessary condition for $A$ to have a ring structure is that the multiplication $\ast : A \times A \to A$ induces a map $A \otimes A \to A$ which is surjective (again because of the identity). So if $A \otimes A$ does not admit a quotient isomorphic to $A$ we can again rule out the existence of a ring structure on $A$, and for $A = \mathbb{Q}/\mathbb{Z}$ or the Prüfer $p$-group $\mathbb{Q}_p/\mathbb{Z}_p$ this tensor product vanishes.