Hungary returns seized Ukrainian cash and gold in further sign of better relations
politico.eu • • world
Key Points:
- Ukrainian President Volodymyr Zelenskyy announced that Hungary has returned millions in cash and gold seized from a Ukrainian state bank convoy earlier this year, marking an important step in bilateral relations.
- The returned assets include €35 million, $40 million, and 9 kilograms of gold belonging to Ukraine’s state-owned Oschadbank, which had been detained by Hungarian authorities in March.
- The seizure had sparked a major dispute, with Ukraine accusing Hungary of "state terrorism and racketeering," while Hungary initially moved to formalize the confiscation under the previous government led by Viktor Orbán.
- Since Péter Magyar replaced Orbán as Prime Minister in April, relations between Hungary and Ukraine have improved, including Hungary dropping its veto on a €90 billion EU loan to Ukraine and easing tensions over the Druzhba oil pipeline.
- Oschadbank chairman Yuriy Katsion thanked Hungary for its "constructive approach," highlighting that the initial seizure violated international norms and interstate cooperation rules.
