Budapest restores Oschadbank assets ahead of power shift
The Hungarian government has returned approximately €35 million and 9 kilograms of gold to Ukraine’s state-owned Oschadbank. The assets were seized by security services in Budapest last March under the outgoing administration of Viktor Orbán.
The transfer marks a significant diplomatic de-escalation as Hungary prepares for a leadership change. President Volodymyr Zelenskyy confirmed the full recovery of the funds, praising the move as a transition toward "civilized" bilateral relations.
Political transition in Budapest
The dispute began when Hungarian authorities detained seven Ukrainians transporting $82 million in cash and gold, alleging money laundering. Kyiv dismissed the claims as state-sanctioned extortion, leading to months of legal and diplomatic friction.
The resolution follows the recent electoral defeat of Viktor Orbán by Péter Magyar. Foreign Minister Andrii Sybiha noted that returning the assets draws a clear line between the previous administration's policies and the constructive approach of the incoming government.
Verification and legal compliance
Oschadbank officials confirmed they have received and verified the assets, which include $40 million and €35 million. The bank stated that the two-month detention of its couriers had violated international intergovernmental cooperation regulations.
Péter Magyar is scheduled to be sworn in as Hungary’s Prime Minister this Saturday, May 9. The asset return is viewed by international observers as a strategic signal of Budapest’s intent to realign with European norms and improve ties with Kyiv.
Translation by Iurie Tataru
