Hungary has returned to Ukraine the cash and gold that belonged to Oschadbank, the Ukrainian state-owned financial institution, and which Hungarian intelligence services seized in March, President Volodymyr Zelensky announced on Facebook on Wednesday.

Hungary returns Ukrainian Oschadbank’s gold and cash

“A significant step in relations with Hungary: today the funds and valuables of Oschadbank, which were seized by the Hungarian intelligence services this March, have been returned. At that time, the Hungarian side unlawfully detained Ukrainian cash couriers. We had already managed to bring back the people; now the money and valuables are fully back on Ukrainian territory. I am grateful to Hungary for its constructive attitude and for this civilised step,” the Ukrainian president wrote.

Zelensky also thanked everyone who had “fought for a just decision, defending the interests of the Ukrainian state and those who live in it”.

Ukrainian foreign minister Andrii Sybiha said on 6 March that Hungarian authorities in Budapest had “taken hostage” seven Ukrainian citizens, Oschadbank employees, and seized the valuables they were transporting, Ukrinform reported. According to him, the staff were carrying cash and gold bars in two bank vehicles as part of routine interbank settlements and were passing through Hungary en route from Austria to Ukraine.

USD, EUR, gold

On 10 March, the Hungarian government adopted a special decree concerning the cash and gold seized from Oschadbank, and the assets remained under the control of the Hungarian authorities during the investigation. A statement from Hungary’s National Tax and Customs Administration at the time said Oschadbank had been transporting 40 million dollars, 35 million euros and 9 kilograms of gold from Austria to Ukraine in cash transport vehicles.

If you missed our previous articles concerning Ukraine:

PM Péter Magyar and Ukrainian President Zelensky may meet soon in Transcarpathia

Ukraine extends olive branches to Hungary: oil shipments, minority rights, cooperation – normalisation underway?