Moscow [Russia], January 22 (ANI): Russian President Vladimir Putin has responded to US President Donald Trump's invitation to join the 'Peace Council', a new international body aimed at addressing global conflicts, including the Israeli-Palestinian issue, reported RT.

Putin expressed Russia's willingness to contribute $1 billion to the council, using frozen Russian assets in the US. He made the remarks during a speech to the Russian Security Council on Wednesday.

As per RT, Russia could provide USD 1 billion, 'right now, even before we decide whether we'll take part... in the work of the Board of Peace,' the Russian president said, citing Moscow's 'special relations with the people of Palestine.'

He stated that the money could be taken 'from the Russian assets frozen by the previous [US] administration,' and noted how Moscow 'has always supported and continues to support any efforts aimed at strengthening international stability.'

The proposed council focuses on Middle East peace, particularly Gaza reconstruction and Palestinian humanitarian needs.

RT further reported that while Putin thanked Trump for the invitation but said that more time would be needed to study the offer and consult Russia's strategic partners.

This comes after US President Donald Trump on Monday (local time) confirmed that Russian President Vladimir Putin has been invited to join the proposed Gaza Board of Peace, describing him as one of several world leaders considered for the initiative.

The formation of the Gaza Board of Peace, as part of Phase 2 of the 20-Point Peace Plan to end the conflict in the Middle East, aims to promote stability and oversee post-conflict reconstruction in the Gaza Strip.

Responding to questions from reporters during a media gaggle, Trump said that Putin was among those invited to participate in the board, which he claimed would work toward peace and stability in Gaza.

The Board of Peace was proposed by Trump last September as part of his plan to end the war in Gaza, although the initiative now seems to be aimed at mediating global conflict more broadly.

The high-profile international effort invites world leaders of 60 countries to join a new body aimed at promoting stability and overseeing post-conflict reconstruction, especially in the Gaza Strip.

According to a White House statement, the proposed Executive Board members will oversee portfolios critical to Gaza's stabilisation and long-term success. These include governance capacity-building, regional relations, reconstruction, investment attraction, large-scale funding, and capital mobilisation.

However, countries that commit USD 1 billion would secure permanent seats on the board, while those that do not pay could still join for a three-year term. (ANI)