After the fall of the Soviet Union, Ukraine inherited a substantial nuclear stockpile. However, Ukraine decided to give up its nuclear weapons due to financial constraints and geopolitical concerns. The 1994 Budapest Memorandum assured security assurances to Ukraine, but these proved futile when Russia annexed 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.