Hungary gives back seized Ukrainian bank assets, Zelensky calls it 'civilized step'
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Hungary has returned money and valuables belonging to Ukraine's state-owned Oschadbank that were seized in March, President Volodymyr Zelensky said on May 6.
The move marks a de-escalation in tensions between Kyiv and Budapest after Hungarian authorities detained the assets — including $40 million, 35 million euros, and 9 kilograms (19.8 pounds) of gold — during transit from Austria to Ukraine.
Zelensky described the return as a positive step in bilateral relations.
"An important step in relations with Hungary — today, the funds and valuables of Oschadbank that were seized by Hungarian special services in March of this year were returned," he said. "I am grateful to Hungary for its constructive approach and civilized step."
Hungarian authorities seized two armored bank vehicles on March 5 and detained seven employees, who were later expelled. Ukraine's Foreign Ministry said the staff were subjected to "physical and psychological pressure."
Budapest justified the seizure by citing suspicions of money laundering, while Kyiv condemned the move as "state terrorism" and demanded the immediate return of the assets.
Hungary had earlier returned the vehicles on March 12 but initially withheld the funds and gold, valued at around $82 million, pending investigation.
The dispute unfolded against the backdrop of strained relations under former Prime Minister Viktor Orban, widely seen as one of the most Moscow-friendly leaders in the European Union.
Hungary's political landscape shifted after Peter Magyar led his Tisza party to victory in parliamentary elections on April 12, ending Orban's 16-year rule.
Magyar has signaled a potential reset in ties with Kyiv, saying on April 28 that he hopes to meet Zelensky in early June to "improve the situation" of ethnic Hungarians in western Ukraine.
