Skip to content
Edit post

Poroshenko's party says he received $1 million from Hungarian Finance Ministry as interest payments

by Elsa Court and The Kyiv Independent news desk December 21, 2023 8:49 PM 2 min read
Petro Poroshenko speaks at a panel at the 15th Annual Kyiv Security Forum in Kyiv, Ukraine, on May 26, 2023. (Kirill Chubotin / Ukrinform/Future Publishing via Getty Images)
This audio is created with AI assistance

Ukraine's former President Petro Poroshenko received $1 million from Hungary due to interest earned on foreign investments, Poroshenko's party, European Solidarity, said in a statement on Dec. 21.

Reports emerged earlier on Dec. 21 that Poroshenko had declared assets amounting to $1 million from the Hungarian Finance Ministry between October and November 2023. Poroshenko had attempted to visit Hungary on Dec. 1 but was stopped at Ukraine's border.  

Poroshenko said that border guards prevented him from leaving the country even though he had previously received official permission. The Security Service of Ukraine (SBU) said it had requested that his permission be canceled due to a planned meeting with Hungarian Prime Minister Viktor Orban.

According to the SBU, Russian intelligence services planned to leverage the meeting for propaganda purposes. Since the start of Russia's full-scale invasion of Ukraine, Budapest has repeatedly obstructed EU support for Kyiv while maintaining ties with Moscow.

Ukraine's public asset declaration website shows that Poroshenko declared Hr 517,173 ($13,755) on Oct. 23. The income was labeled as "interest" and its source was listed as the Hungarian Finance Ministry.  

One month later, on Nov. 24, Poroshenko similarly declared Hr 1,036,940 ($27,579). Another 36,067,500 ($959,265) was declared the same day as "bond redemption," with the Hungarian Finance Ministry again as the source.

European Solidarity said that the interest earned by foreign investments went to funding the Ukrainian Armed Forces, and "independent professional advisers" are responsible for making foreign investment decisions.

"Poroshenko will continue to look for and find sources of funding for programs to strengthen the country's defense capabilities, and securities will remain one of the tools for obtaining funds for the Armed Forces in this program," European Solidarity said in the statement.

The party also said that Poroshenko pays income taxes and military duty on both Ukrainian and foreign securities, contributing to the Ukrainian state treasury.

Orban commented on Poroshenko's attempted visit to Hungary during a press conference on Dec. 21.

Though it was "reasonable" that there were travel restrictions during wartime, Orban claimed he questioned Ukraine's ambitions for EU membership if "the meeting of a citizen of Ukraine with the Prime Minister of Hungary poses a threat to national security."

Orban claims Russian invasion of Ukraine is not war
The Russian invasion of Ukraine is not a war, Hungarian Prime Minister Viktor Orban claimed on Dec. 21 while speaking at an annual press conference in Budapest.
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
7:00 PM

Ukrainian, Czech interior ministers meet in Lviv.

Czech Interior Minister Vít Rakusan traveled to Lviv to meet his Ukrainian counterpart Ihor Klymenko and sign a declaration on directions of cooperation between their departments, Klymenko said on March 1.
5:46 PM

Bloomberg: Macron-Scholz split hurting Ukraine.

French President Emmanuel Macron and German Chancellor Olaf Scholz are not getting along, and Macron's recent suggestion of a possible deployment of Western troops in Ukraine has further fueled the disagreement, Bloomberg reported on March 1, citing unnamed officials familiar with the matter.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.