Putin Signals Conditional Support for Trump’s “Board of Peace,” Proposes Using Frozen U.S. Assets

MOSCOW / DAVOS — Russian President Vladimir Putin confirmed Wednesday that he received a personal invitation from U.S. President Donald Trump to participate in Trump’s newly announced “Board of Peace” initiative, but stressed that Moscow’s commitment remains under active review with conditions attached.

In remarks to Russia’s Security Council, Putin said the Kremlin is studying the Board of Peace proposal and consulting with “partners” before a final decision is taken — a clear indication that Russia has not yet formally accepted permanent membership.

Putin reiterated that Russia is prepared to contribute $1 billion toward the Peace Board’s mission — but only by using Russian sovereign assets that remain frozen in the United States. Kremlin officials noted the contribution would depend on U.S. approval to unfreeze the funds and potentially on other strategic outcomes being achieved.

Russia holds a complex portfolio of assets frozen in the West following its 2022 invasion of Ukraine; U.S. sovereign holdings — estimated at roughly $5 billion in Russia’s dollar-denominated assets frozen in the United States — could be tapped for this contribution if Washington agrees.

Putin made clear that any use of the assets will require legal and diplomatic clarification, and that Moscow does not recognize the freeze as lawful. Kremlin spokesman Dmitry Peskov said discussions are “ongoing and unclear” about how the unblocking might work.

Putin instructed Russia’s Ministry of Foreign Affairs to thoroughly review the Board of Peace initiative and to conduct consultations with other governments and allies before a final decision is announced. He stressed that Moscow wants to align its engagement with its broader strategic priorities, particularly concerning the war in Ukraine.

Russian officials have already scheduled meetings with two leading U.S. envoys associated with Trump’s peace effort: Steve Witkoff and Jared Kushner. Putin said talks would cover the peace initiative and related diplomatic issues.

While the Board of Peace was originally launched by Trump with an emphasis on the Gaza conflict, its scope has broadened to include other long-running global tensions — foremost among them the Russia-Ukraine war. Putin has hinted that the potential use of frozen assets could target “restoration of territories in the combat zone,” widely interpreted as areas of Ukraine previously occupied by Russian forces.

This proposition was echoed by the Kremlin and reflected in comments linking asset use to broader reconstruction goals, though details remain sparse and contingent on diplomatic alignment with Washington.

Trump announced the Board of Peace this week at the World Economic Forum in Davos, framing it as a new global mechanism to promote ceasefires and reconstruction, with permanent members required to contribute $1 billion each.

Putin’s conditional offer has drawn mixed reactions in global capitals. Critics argue that leveraging frozen Russian assets for peace projects raises legal and ethical questions — especially as Kyiv insists such funds should primarily underwrite Ukraine’s reconstruction post-war. Supporters of Trump’s initiative, meanwhile, tout Putin’s mention as a potential diplomatic breakthrough in long-stalled peace efforts.