Russian President Vladimir Putin said on Wednesday that Moscow is still reviewing a proposal to join U.S. President Donald Trump’s Board of Peace initiative aimed at resolving global conflicts after Trump said the Russian leader had agreed to take part.

"He was invited. He's accepted," Trump told reporters at the World Economic Forum in Davos, Switzerland after meeting with NATO ‌chief Mark Rutte.

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.

Putin, quoted by Russian ⁠news agencies at a meeting of Russia's Security Council, said he believed the proposed ‌Board was primarily designed to deal with a Middle East ‍peace settlement.

He said Russia ‍was prepared ‍to provide $1 ⁠billion ‍for the Board, as proposed by Trump for long-term ⁠membership, ‌from frozen Russian assets.