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STORY: "He was invited, he's accepted."

U.S. President Donald Trump on Wednesday said Russian President Vladimir Putin had accepted his invitation to join the Board of Peace.

But soon after Trump's comments, Putin told the Russian security council that the foreign ministry was still studying the proposal and would respond in due course.

"I would like to begin by thanking the U.S. President for this proposal. We have always supported and continue to support any efforts aimed at strengthening international stability. We also acknowledge the current U.S administration's contribution to the search for a solution to the Ukrainian crisis. Regarding our participation in the Board of Peace, the Russian Ministry of Foreign Affairs has been instructed to study the documents received by us, consult with our strategic partners on this matter, and only then will we be able to respond to the invitation extended to us."

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The Russian leader is set to meet U.S. envoys Steve Witkoff and Jared Kushner on Thursday.

The two have been tasked with finding a solution to Moscow's four-year-old war with Ukraine.

Putin said that the possible use of frozen Russian assets to rebuild regions affected by the war was also on the agenda. 

"Even before we decide on the issue of participation in the composition and work of the Board of Peace, taking into account Russia's special relationship with the Palestinian people, we could, I think, send $1 billion from Russian assets frozen under the previous U.S administration to the Board of Peace. Incidentally, the remaining funds from our frozen assets in the U.S could be used to rebuild territories damaged by the fighting after a peace treaty is concluded between Russia and Ukraine. We are also discussing this possibility with representatives of the U.S administration."

Trump's Board of Peace initiative initially focused on rebuilding Gaza, but was later broadened to tackle other global conflicts.

According to a copy of the draft charter seen by Reuters, member states would be limited to three-year terms.

That is unless they pay $1 billion each to fund the board's activities and earn permanent membership.