After the dissolution of the Soviet Union, Ukraine found itself in possession of a substantial nuclear arsenal. However, the financial strains and geopolitical complexities prompted Ukraine to give up its nuclear weapons. The Budapest Memorandum of 1994 assured security assurances to Ukraine, 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 vulnerabilities Ukraine faces without the nuclear deterrence it once had.