“This document never worked a single day,” Zelenskyy said in a video address.
“And because of this, everyone in the world now knows that a mere signature from any state, or assurances or promises of security, is not enough. Effective guarantees are needed, namely real alliances and a realistic security foundation within the country.”
The president added that effective security guarantees also include weapons that "allow us to defend and deter the enemy, and unity that helps to withstand even the most difficult moments."
The Budapest Memorandum was signed on Dec. 5, 1994. At the time of gaining independence, Ukraine had the third-largest nuclear weapons arsenal in the world. After signing the memorandum, Ukraine relinquished its nuclear state status. In exchange, the United States, Russia, and the United Kingdom (later joined by China and France) provided Kyiv with guarantees of sovereignty and territorial integrity.