MOSCOW, February 13. /TASS/. Russia has yet to formulate its position regarding participation in the Board of Peace, and the issue is pending at the Foreign Ministry, Kremlin Spokesman Dmitry Peskov said.

"We have not formulated our position on the Board of Peace yet, this issue is still pending at the Foreign Ministry which is trying to make head or tail of the topic in collaboration with our partners and allies," he explained.

The Board of Peace was established based on an agreement between Israel and the radical Palestinian movement Hamas to govern the Gaza Strip, but it is also supposed to prevent and resolve conflicts in other regions.

President Vladimir Putin stated earlier that Russia is ready to spend $1 billion from assets frozen in the United States on the Board of Peace. He said Moscow is willing to do so even before it decides whether or not it will join the initiative.