Kyiv hails Hungary returning seized cash, eyes mending ties

FILE PHOTO: Ukrainian President Volodymyr Zelenskiy arrives for the European Political Community summit in Yerevan, Armenia, May 4, 2026. Hayk Baghdasaryan/Photolure via REUTERS/ File Photo

KYIV, May 6 (Reuters) - Hungary has returned cash and gold of Ukraine's Oschadbank seized by ‌Budapest's security service in March, President Volodymyr ‌Zelenskiy said on Wednesday, as Kyiv welcomed the move toward ?normalising strained ties under Hungary’s outgoing government.

Under Prime Minister Viktor Orban, who lost the election to Peter Magyar, Hungary detained seven Ukrainians transporting around $82 million in cash and ‌gold on suspicion ?of money laundering. Ukraine denounced the seizure as racketeering.

Both funds and gold are back ?in Ukraine in full, Zelenskiy said, stressing Hungary's "constructive approach and civilised step".

"The return of the stolen property ?draws ?a clear line between ?the lawlessness of the ‌Orban regime and the constructive approach of the incoming new government," Ukraine's foreign minister, Andrii Sybiha, said on X. Magyar is to take the oath of office on Saturday.

 

"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," ‌he added.

Ukraine breathed a sigh ?of relief ?after Orban, Europe's closest Russian ally who vehemently opposed aid for Ukraine, lost the vote. Ukrainian ?officials expressed ‌hope that Magyar will adopt a more ?pragmatic tone in bilateral relations.

 
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