After the dissolution of the Soviet Union, Ukraine found itself in possession of a substantial nuclear arsenal. However, the financial strain and geopolitical complexities led Ukraine to voluntarily give up its nuclear weapons. The Budapest Memorandum of 1994 was supposed to provide security assurances to Ukraine, but recent events such as Russia’s annexation of Crimea and support to separatists in Ukraine have shown the limitations of these guarantees. The current conflict between Russia and Ukraine underscores the importance of nuclear deterrence for Ukrainian security. The vulnerabilities of Ukraine without nuclear weapons have been starkly exposed in this ongoing crisis.