403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Hungary Hands Back Over USD80M to Ukraine
(MENAFN) Ukrainian President Volodymyr Zelenskyy announced Wednesday that Hungary has returned funds confiscated from a Ukrainian state-owned bank earlier this year, calling the development an "important step" forward in the strained relationship between Kyiv and Budapest.
In a post on X, Zelenskyy confirmed that assets belonging to Oschadbank, seized by Hungarian authorities in March, had been fully repatriated to Ukrainian territory. "I am grateful to Hungary for its constructive approach and civilized step. I thank everyone on Ukraine's team who fought for a fair decision and defended the interests of our state and our people," Zelenskyy said.
Ukrainian Foreign Minister Andrii Sybiha echoed the sentiment, welcoming the restitution as a meaningful stride toward restoring normal bilateral ties. "We take this as a sign of Hungary's willingness to advance our relations with mutual respect and healthy pragmatism -- and we are ready to reciprocate," Sybiha said, also extending thanks to the Hungarian side.
The dispute erupted in early March when Kyiv accused Hungarian authorities of effectively "taking hostage" seven Oschadbank employees stationed in Budapest, while simultaneously confiscating more than $80 million in cash and 9 kilograms of gold. Hungary's National Tax and Customs Administration said it had detained the seven Ukrainian nationals alongside two armored transport vehicles as part of a criminal investigation into suspected money laundering. Officials stated the vehicles had been carrying a combined $40 million, €35 million, and 9 kilograms of gold en route from Austria to Ukraine. The detained individuals were expelled from Hungarian territory just two days later.
The incident unfolded against a backdrop of deepening friction between Kyiv and Budapest, rooted in a disruption to oil flows through the Druzhba pipeline following a January 27 incident that Ukraine attributed to Russia. Hungary and Slovakia, however, accused Ukraine of deliberately obstructing deliveries to extract political concessions. Bratislava confirmed late last month that crude oil shipments via Druzhba had resumed after Ukraine announced it had completed repairs to the damaged pipeline segment.
In a post on X, Zelenskyy confirmed that assets belonging to Oschadbank, seized by Hungarian authorities in March, had been fully repatriated to Ukrainian territory. "I am grateful to Hungary for its constructive approach and civilized step. I thank everyone on Ukraine's team who fought for a fair decision and defended the interests of our state and our people," Zelenskyy said.
Ukrainian Foreign Minister Andrii Sybiha echoed the sentiment, welcoming the restitution as a meaningful stride toward restoring normal bilateral ties. "We take this as a sign of Hungary's willingness to advance our relations with mutual respect and healthy pragmatism -- and we are ready to reciprocate," Sybiha said, also extending thanks to the Hungarian side.
The dispute erupted in early March when Kyiv accused Hungarian authorities of effectively "taking hostage" seven Oschadbank employees stationed in Budapest, while simultaneously confiscating more than $80 million in cash and 9 kilograms of gold. Hungary's National Tax and Customs Administration said it had detained the seven Ukrainian nationals alongside two armored transport vehicles as part of a criminal investigation into suspected money laundering. Officials stated the vehicles had been carrying a combined $40 million, €35 million, and 9 kilograms of gold en route from Austria to Ukraine. The detained individuals were expelled from Hungarian territory just two days later.
The incident unfolded against a backdrop of deepening friction between Kyiv and Budapest, rooted in a disruption to oil flows through the Druzhba pipeline following a January 27 incident that Ukraine attributed to Russia. Hungary and Slovakia, however, accused Ukraine of deliberately obstructing deliveries to extract political concessions. Bratislava confirmed late last month that crude oil shipments via Druzhba had resumed after Ukraine announced it had completed repairs to the damaged pipeline segment.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment