After the dissolution of the Soviet Union, Ukraine found itself in possession of a substantial nuclear arsenal. However, financial constraints and geopolitical concerns led Ukraine to give up its nuclear weapons. The Budapest Memorandum of 1994 assured Ukraine security guarantees, but these were called into question when Russia annexed Crimea and backed separatists in Ukraine. The current conflict between Russia and Ukraine underscores the security challenges Ukraine faces without the nuclear deterrence it once had. The vulnerabilities of Ukrainian security have become increasingly apparent in the face of ongoing tensions with Russia.