After the disintegration of the Soviet Union, Ukraine found itself in possession of a considerable nuclear arsenal. However, financial constraints and geopolitical concerns led Ukraine to surrender its nuclear weapons. The Budapest Memorandum of 1994 assured security assurances to Ukraine, which were put to the test when Russia took over Crimea and backed separatists in Ukraine. The current conflict between Russia and Ukraine underscores the security vulnerabilities faced by Ukraine in the absence of nuclear deterrence.