Putin: I’ll Join Trump’s Board of Peace—on One Condition… the US Must unfreeze Russian assets

Moscow links potential $1B in Gaza aid to the US unfreezing Russian assets

Russian President Vladimir Putin said Russia is prepared to invest significant funding into President Trump’s proposed Gaza reconstruction initiative, but only if the United States first releases Russian state assets currently frozen under sanctions.

Speaking during a Kremlin meeting with Palestinian Authority President Mahmoud Abbas on Thursday, Putin said Moscow could contribute up to $1 billion to Trump’s proposed “Board of Peace,” which aims to support Palestinians and help rebuild Gaza. However, he said the funding would come from Russian assets currently held in the United States.

Those assets were frozen as part of Western sanctions imposed after Russia’s 2022 invasion of Ukraine. The U.S. is holding roughly $5 billion of an estimated $300 billion in Russian state funds immobilized worldwide, with most of the remaining assets held in Europe.

“I think this is quite possible,” Putin said, referring to redirecting the frozen funds toward the Trump-backed initiative. He added that he planned to discuss the proposal later Thursday in Moscow with Trump envoy Steve Witkoff and Trump’s son-in-law, Jared Kushner.

Putin said earlier in the week that Moscow had received a direct invitation from President Trump to participate in the Board of Peace and that Russia’s Foreign Ministry had been instructed to review the proposal in coordination with what he described as Russia’s “strategic partners.”

Kremlin spokesman Dmitry Peskov told reporters that it remains unclear how any release of frozen Russian assets in the United States could be handled under existing U.S. law. Still, he said the offer signals that Moscow expects the funds to eventually be returned.

“We have not lost hope that our assets will be returned,” Peskov said. “We will continue our fight, and we will defend our rights.”

CNBC reports that several countries have already joined the Board of Peace, including the United Arab Emirates, Hungary, Bahrain, Morocco, Argentina, Pakistan, and Jordan. Others—including Canada, France, Germany, Italy, and the United Kingdom—have not yet signed on. According to the BBC, UK Foreign Secretary Yvette Cooper said Britain remains cautious, citing concerns related to Russia’s involvement in the initiative.

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