President Vladimir Putin announced that Russia is willing to donate $1 billion from its frozen assets in the U. S. to President Donald Trump’s Board of Peace and an undetermined amount for Ukraine’s restoration. Putin is considering Trump’s invitation to join the Board of Peace, which has been extended to several world leaders, including Ukraine’s President Zelenskiy. Trump proposed the initiative in September to address the Gaza war and has plans to broaden it to other global conflicts. The Board’s charter requires permanent members to contribute $1 billion each.
Putin expressed Russia’s readiness to donate to the initiative during discussions with Palestinian leader Mahmoud Abbas, highlighting Russia’s close ties with Palestine. He is scheduled to meet U. S. envoys Steve Witkoff and Jared Kushner, focusing on economic relations and trade.
As for the frozen Russian assets in the U. S., the central bank reported that about 11% of its $613 billion reserves, roughly $67 billion, are in dollar assets held at U. S.-based depositaries. Estimates indicate around $300 billion of Russia’s sovereign funds are frozen by Western nations, with the majority in Europe. The REPO Task Force estimated $280 billion in frozen assets, but a report showed only $5 billion was identified in the U. S.
Kremlin spokesman Dmitry Peskov stated that unblocking the assets would require action from U. S. authorities, and Russia considers the freeze illegal. Discussions on the legal framework are necessary. Russia’s central bank has sued Euroclear for $230 billion in damages due to the indefinite freeze. Proposals for using frozen assets for Ukraine’s reconstruction have been discussed, including allocating one-third for U. S.-led efforts and the rest for a U. S.-Russia investment fund.
With information from Reuters
