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.

He added that the assets could also be used "to reconstruct the territories damaged by the hostilities, after the conclusion of a peace agreement between Russia and Ukraine".

Invites were sent to dozens of world leaders with a request for $1 billion for a permanent seat on the board.

Although originally meant to oversee Gaza's rebuilding, the board's charter does not seem to limit its role to the Strip and appears to want to rival the United Nations, drawing the ire of some U.S. allies including France.

On the Greenland dispute, Putin also said Trump’s stand on acquiring the island was of no concern to Russia.

Putin said the ‌situation brought to mind Russia's 19th century sale ‍of ‍Alaska to ‍the United ⁠States. ‍He estimated the current value of ⁠Greenland ‌at $200-250 million.