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๐บ๐ธ American President Bill Clinton, ๐ท๐บ Russian President Boris Yeltsin, ๐บ๐ฆ Ukrainian President Leonid Kuchma sign the Budapest Memorandum on December 5, 1994@facethenation โWell, so what does it mean? At the end of the Cold War, ๐ชthe third largest nuclear power on earth was not Britain, France or China. It was Ukraine. Only Russia and the US had more weapons. Ukraine demanded that, in exchange for nuclear disarmament, it would need ironclad security guarantees. That was the heart of the agreement signed in Budapest in 1994 by Russia, Ukraine and the US. Budapest Memorandum promised that none of the nations would use force or threats against Ukraine and all would respect its sovereignty and existing borders ๐๐. In May 1996, Ukraine saw the last of its nuclear arms transported to Russia. ๐คฏ After Russian troops invaded Crimea in early 2014 and stepped up a proxy war in eastern Ukraine, Russian government dismissed the Budapest accord as null and void.