Most of Europe was not involved, but basically yes. In exchange for Ukraine, Belarus, and Kazakhstan giving up nuclear weapons, Russia, the US, and the UK agreed to respect their independence and sovereignty, not use military or economic force against them, and ask the UN Security Council to intervene if they are attacked by nuclear weapons. See:
The idea that the US was obligated to defend Ukraine against Russia is a common one, but as far as I can tell traces back to a misunderstanding of what that memorandum actually says.
I agree. There's no way NATO would bring Ukraine in now, since it would inevitably mean war with Russia for the whole alliance. Defensive alliances are tricky that way: the goal is to deter aggression, but if such an alliance looks to be coming but hasn't been set up, it can encourage aggression instead.
Meta: I noticed my original reply above got downvoted. I wonder why. I just stated facts, with no real tone of any kind that I can tell.
https://en.wikipedia.org/wiki/Budapest_Memorandum_on_Securit...
The idea that the US was obligated to defend Ukraine against Russia is a common one, but as far as I can tell traces back to a misunderstanding of what that memorandum actually says.