Putin agrees to contribute $1 billion to Trump's Board of Peace

Russian President Vladimir Putin has announced that he is ready to use Russian assets frozen by the previous US government to contribute $1 billion to President Donald Trump’s Board of Peace.

Putin also said that the remaining frozen funds can be used to rebuild territories that were destroyed during the Russia-Ukraine war. But such funding will only be possible after a peace deal is signed between the two countries, the Russian leader added.

Russia will examine invite

Trump has invited Putin, among several other world leaders, to join the Board of Peace for Gaza. “The Russian foreign ministry has been charged with studying the documents that were sent to us and to consult on the topic with our strategic partners,” Putin said during a televised government meeting. “It is only after that we’ll be able to reply to the invitation.”

Meanwhile, the US president has said that Putin had agreed to join the so-called grouping – despite the Kremlin so far saying it was still studying the invitation.

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“He was invited, he’s accepted. Many people have accepted,” Trump told reporters in Davos, Switzerland, referring to his so-far vaguely defined grouping of world leaders.

Asked about criticism that he is reaching out to non-democratic figures, Trump said some were “controversial” but “if I put all babies on the board, it wouldn’t be very much”.

Who all have accepted the invite?

Saudi Arabia, Turkey, Egypt, Jordan, Indonesia, Pakistan and Qatar have accepted invitations to join Trump’s Board of Peace.

In a joint statement, Saudi foreign ministry announced the “shared decision” of the foreign ministers of Saudi Arabia, Qatar, Turkey, Egypt, Jordan, Indonesia, Pakistan, and the United Arab Emirates to join the body to be chaired by Trump, saying they supported his “peace efforts” on the Gaza conflict.

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Trump first proposed the Board of Peace last September when he announced his plan to end the Gaza war. He later made clear the board’s remit would be expanded beyond Gaza to tackle other conflicts worldwide.

The US president will be the inaugural chairman of the board and it will be tasked with promoting peace around the world and working to resolve conflicts, according to a copy of the draft charter seen by Reuters.

With inputs from agencies