Russian President Vladimir Putin confirms Russia received a personal invitation from President Trump to join a new US-backed “Peace Council”, proposing a Sh129 billion contribution from frozen Russian assets for Gaza.
He said Moscow would consult partners before deciding, stressing that any process must be based on UN decisions and long-term conflict settlement.
Speaking during an operational meeting with permanent members of Russia’s Security Council on January 21, Putin confirmed that the proposal had formally reached Moscow and said it was being treated with seriousness.
“As far as the US ‘Peace Council’ initiative is concerned, we have indeed received a personal message from President Trump inviting us to join a new international structure being established on his initiative,” Putin said.
He opened by welcoming the approach, framing it within broader efforts to stabilise global affairs.
“In this regard, I would like first of all to thank the US President for this proposal,” he said, adding that Russia has always supported and continue[s] to support any efforts aimed at strengthening international stability.
Putin also acknowledged the role of the current US administration in diplomatic efforts surrounding Ukraine.
“We also note the contribution of the current US Administration to efforts to find solutions for settling the Ukrainian crisis,” he said.
However, the Russian leader made clear that Moscow would not rush into the initiative. He said the Foreign Ministry had been instructed to scrutinise the proposal and consult with allies before any commitment is made.
“As for our participation in the ‘Peace Council’, Russia's Ministry of Foreign Affairs has been instructed to review the documents received, consult our strategic partners on this matter, and only after that will we be able to provide a response,” Putin said.
According to Putin, the proposal presented to Russia focuses primarily on the Middle East, particularly the Palestinian question and the humanitarian crisis in Gaza.
“The proposal made to us primarily concerns settlement in the Middle East and the search for possible ways to address the urgent problems facing the Palestinian people and to resolve the acute humanitarian situation in the Gaza Strip,” he said.
He stressed that any process must align with international law and existing United Nations frameworks.
“The key issue is that the entire process should contribute to a long-term settlement of the Palestinian-Israeli conflict, based on the relevant UN decisions,” Putin said.
In a notable financial pledge, Putin said Russia could allocate significant funds to support the initiative, even before formally deciding whether to join the council. He proposed using Russian assets frozen under the previous US administration.
“Taking into account Russia’s special relations with the Palestinian people, we could, I believe, allocate Sh129 billion to the ‘Peace Council’ from Russian assets that were frozen under the previous US Administration,” he said.
He added that remaining frozen funds could potentially be redirected toward post-war reconstruction following a peace settlement between Russia and Ukraine.
“The remaining funds from our assets frozen in the US could also be used for the restoration of territories affected by hostilities after the conclusion of a peace treaty between Russia and Ukraine,” Putin said, noting that this option was “being discussed with representatives of the US Administration.”
Putin said he plans to continue discussions on both the Middle East and Ukraine in upcoming meetings.
“I plan to discuss all these issues with President of Palestine Mahmoud Abbas, as well as with US representatives Steve Witkoff and Jared Kushner,” he said, confirming they were due to arrive in Moscow on January 22.
During the same meeting, Putin also addressed questions surrounding Greenland, dismissing speculation about Russia’s interest in the issue.
“What is happening with Greenland does not concern us at all,” he said.
He nevertheless offered historical context, referring to Russia’s 1867 sale of Alaska to the United States and comparing it to Greenland’s size and hypothetical value.
“If we compare this with the cost of the US acquisition of Alaska, the price for Greenland would be somewhere around Sh25,800,000,000–Sh32,250,000,000” he said, adding that adjusted for gold prices, the figure could be “closer to Sh129 billion.”
Putin also pointed to Denmark’s historical sale of the Virgin Islands to the US in 1917, before concluding that the matter was for others to resolve.
“In any case, this definitely does not concern us,” he said. “I think they will sort it out between themselves.”
