Kyiv, Ukraine – Ukrainian President Volodymyr Zelenskyy announced a significant diplomatic and legal step in bilateral relations with Hungary: the full return of funds and assets belonging to the Ukrainian bank Oshad. These assets had been seized by Hungarian security services earlier this year.
End of the “funds freeze” crisis
In his statement, President Zelensky explained that these assets had been seized last March, in an incident that also saw the illegal detention of Ukrainian cash-transporting officers by the Hungarian side. Zelensky confirmed that the Ukrainian state had previously succeeded in securing the return of its employees. Today, he announced the completion of the process with the full return of all financial assets and properties to Ukrainian territory. He described this step as a “just decision” that ends a period of tension and legal ambiguity.
Praise for Hungary’s “civilized” approach
In a tone that reflected appreciation for diplomatic solutions, Zelenskyy expressed his gratitude to the Hungarian government for adopting a “constructive and civilized approach” in dealing with the crisis. This reflects a desire to improve the strained relations between the two neighboring countries.
The Ukrainian president also extended special thanks to the members of the Ukrainian team who led the legal and diplomatic battle to defend the interests of the state and protect the rights of its people and financial institutions.
Timing implications
This breakthrough comes at a sensitive time as Ukraine seeks to secure all its financial resources and support its national banking sector amidst ongoing regional pressures.
Observers believe that resolving the Oschad Bank case could pave the way for greater cooperation between Kyiv and Budapest on other outstanding issues, particularly regarding logistical and security support. Zelensky concluded his announcement by affirming the country’s resilience in the face of challenges, ending with his now-famous phrase: “Glory to Ukraine!”
