Putin says Russia could send $1 billion in frozen U.S. assets to Trump’s ‘Board of Peace’

Russian President Vladimir Putin said Moscow is prepared to transfer $1 billion from Russian assets frozen in the United States to U.S. President Donald Trump’s “Board of Peace.”

“Even before we decide on our participation in the Council’s membership or its work, given Russia’s special relationship with the Palestinian people, I believe we could transfer $1 billion to the Board of Peace from Russian assets that were frozen under the previous U.S. administration,” Putin said on Wednesday at a meeting with permanent members of Russia’s Security Council, according to the Kremlin’s website.

Putin said he plans to raise the issue in talks with U.S. presidential envoy Steve Witkoff and Jared Kushner, Donald Trump’s son-in-law, who are scheduled to arrive in Moscow on Thursday. He also said he would discuss the matter with Palestinian leader Mahmoud Abbas.

Putin added that the remaining funds from Russia’s U.S.-frozen assets could be used to rebuild territories damaged by fighting after a peace treaty between Russia and Ukraine is signed. He said that option is also under discussion with representatives of the U.S. administration.

Trump first proposed the board in September as part of a plan to end the war in Gaza. Its charter, however, envisions significantly broader powers, effectively positioning the board as an alternative to the U.N., and does not mention Gaza. Leaders from dozens of countries, including Putin, have been invited to join. Putin has not yet publicly announced whether he will accept the invitation.

The board’s charter requires a $1 billion contribution for permanent membership, The New York Times reported. Belarusian leader Aleksandr Lukashenko who was also invited to join the council has already accepted.