©picture alliance / ipa-agency | BArbara Amendola
Ukraine's Oschadbank demanded the immediate return of cash and gold confiscated by Hungarian authorities in March. The case dragged on for a long time, but it finally came to a breakthrough this week.
Indeed, President Volodymyr Zelensky announced Wednesday that Hungary has returned cash and gold - 35 million euros and 9kg of gold - to state bank employees. This marks an important step forward in resolving a long-running diplomatic row between Hungary and Ukraine.
"An important step in relations with Hungary: today the monies and values of Oschadbank, seized by Hungarian special services in March, have been returned," Zelensky wrote on social media. "I thank Hungary for its constructive approach and our team for defending our interests."
The high-profile incident began with Hungarian police raiding a cash-in-transit convoy near Budapest. The Ukrainian vehicles were transferring money from Raiffeisen Bank in Austria to Oschadbank's headquarters in Kiev. Hungary stopped the convoy and seized the money and gold. It also deported seven Ukrainian escorts and opened a money laundering investigation. Ukrainian Foreign Minister Andrii Sybiha accused Hungary of kidnapping and state terrorism. In turn, his Hungarian counterpart Péter Szijjártó suggested ties to the "Ukrainian war mafia".
Outgoing Prime Minister Viktor Orbán, who was in power for 20 years until his fall on April 12, had the assets detained for up to 60 days. He also frequently blocked EU aid to Ukraine with vetoes during his reign. New Prime Minister Péter Magyar, more moderate and EU-friendly, now returned that money and gold to Ukraine. He talks about writing a "new chapter" with Kiev. Earlier, Hungary already lifted a veto on a €90 billion EU loan for Ukraine, after restoring the Druzhba pipeline. Magyar wants better ties with its neighbors and is even considering joining the euro zone.
©picture alliance / ipa-agency | BArbara Amendola