MOSCOW

Russian President Vladimir Putin on Wednesday said Moscow could pay $1 billion from frozen assets, a fee necessary for permanent membership in the "Board of Peace," a new international body proposed by US President Donald Trump.

Speaking at a meeting of the Russian Security Council in Moscow, Putin stated he instructed the Russian Foreign Ministry to study the proposal to join the US-promoted body and coordinate the position with partners.

"We could send 1 billion US dollars from Russian assets frozen during the previous US administration to the Board of Peace," he said.

Last week, the White House announced the formation of the Board of Peace, along with the approval of a National Committee for the Administration of Gaza – one of four bodies designated to manage the transitional phase in the enclave.

According to statements from world leaders invited to join the board, membership is free for the first three years, after which permanent membership costs $1 billion.

The board’s creation coincided with the launch of phase two of a ceasefire agreement that halted Israel’s war on Gaza – a conflict that has killed more than 71,000 people and injured over 171,000 others since October 2023.