Russia Offers $1 Billion From Frozen Assets for Gaza Reconstruction, Putin Says

Russian President Vladimir Putin announced that Moscow is prepared to allocate up to $1 billion from Russian state assets frozen in the West to support the reconstruction of Gaza, as part of a broader international peace initiative. Speaking during a meeting of Russia’s Security Council, Putin confirmed that he had received a personal letter from US President Donald Trump inviting Russia to join the newly established Board of Peace, thanking Trump for the proposal and acknowledging Washington’s efforts to seek a settlement to the Ukraine conflict.

Putin said Russia would carefully study the invitation and hold consultations with its strategic partners before making a final decision on joining the board. He stressed that any such mechanism should focus on achieving a long-term and sustainable settlement based on United Nations resolutions, with priority given to the humanitarian and reconstruction needs of the Palestinian people. As an initial step, Putin said Russia is ready to direct $1 billion from its frozen assets toward Gaza’s post-war rebuilding before formally acceding to the board.

The Russian leader also suggested that remaining frozen Russian funds could later be used for post-conflict reconstruction in Ukraine once a peace treaty is concluded. Putin added that he plans to discuss the initiative with Palestinian President Mahmoud Abbas, as well as with US envoys Steve Witkoff and Jared Kushner, who are expected in Moscow to continue talks on a Ukraine settlement, signaling Moscow’s intent to link diplomatic, humanitarian, and reconstruction efforts across multiple conflict zones.