Story perspectives

Hungary Returns €35 M, $40 M, Gold to Ukraine

5/6/2026

Summary

Story summary

The return of €35 million, $40 million and 9 kg of gold seized from Oschadbank marks a sign that Kyiv-Budapest relations are improving after Hungary’s April 12 election.
President Volodymyr Zelenskyy said the assets are now in Ukraine after Hungary lifted its veto, clearing a €90 billion EU loan for Kyiv.
Hungarian police detained seven Ukrainian nationals in March, accusing a money-laundering scheme, while Oschadbank chairman Yuriy Katsion called the seizure a breach of norms.

History

Historical Context

Hungary approved EU membership in a 12 April 2003 referendum (84% yes, 46% turnout) and joined the bloc on 1 May 2004 as part of a ten-country enlargement. That accession opened EU cohesion funds and set a precedent for financial support to Ukraine, which now receives large loans and asset returns following the 12 April 2024 Hungarian election.

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Story summary

The return of €35 million, $40 million and 9 kg of gold seized from Oschadbank marks a sign that Kyiv-Budapest relations are improving after Hungary’s April 12 election.
President Volodymyr Zelenskyy said the assets are now in Ukraine after Hungary lifted its veto, clearing a €90 billion EU loan for Kyiv.
Hungarian police detained seven Ukrainian nationals in March, accusing a money-laundering scheme, while Oschadbank chairman Yuriy Katsion called the seizure a breach of norms.

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