The potential return of multimillion-dollar assets belonging to Ukraine’s state-owned Oschadbank, which were illegally seized by Hungary under Viktor Orbán’s government, will only be addressed after Péter Magyar officially assumes the office of Prime Minister. The leader of the ‘Tisza’ party, which recently won the parliamentary elections, emphasized the need for a detailed review of the case. The politician made this statement during a press briefing, as reported by the Hungarian outlet Telex.
According to Magyar, the circumstances surrounding the detention of the Ukrainian funds and gold remain highly contradictory. He noted that the public currently lacks a clear picture of the situation, as previous information was filtered exclusively through propaganda channels controlled by Orbán’s administration. “We do not know the reality; we have only seen propaganda news,” Magyar stated, calling for a “common sense” approach to resolving such complex diplomatic disputes.
However, a crucial signal for Kyiv was Magyar’s prioritization of future bilateral negotiations. The presumptive head of the Hungarian government emphasized that after receiving his prime ministerial mandate, he plans to raise “more important topics” with Ukrainian President Volodymyr Zelenskyy than the ongoing saga over the Oschadbank assets. This suggests that while the new leadership in Budapest represents a departure from Orbán’s explicitly anti-Ukrainian rhetoric, it will still pursue a highly pragmatic and potentially tough diplomatic dialogue, possibly linking the seized funds to broader energy or political negotiations.
The unprecedented diplomatic incident occurred in early March 2026. Hungarian law enforcement officers detained two Oschadbank cash-in-transit vehicles on a highway. The armored cars were conducting a fully documented, legal transfer of foreign currency and banking metals from Austria to Ukraine—a logistical necessity due to the closure of Ukrainian airspace amid the ongoing Russian invasion. Although Hungary eventually returned the vehicles to Oschadbank representatives—notably with damaged internal equipment—and released the seven bank employees, the core assets were retained. Staggering sums amounting to $40 million, €35 million, and 9 kilograms of banking gold remain illegally blocked in Hungary under dubious pretexts.
Ukrainian President Volodymyr Zelenskyy has taken a firm stance on the issue. Just days prior to the Hungarian elections, Zelenskyy stated on national television that Viktor Orbán had “simply stolen” the money, which rightfully belongs to Ukrainian taxpayers. He expressed hope that the funds would be returned following negotiations with the newly elected leader. Meanwhile, Ukraine’s Ministry of Foreign Affairs and Oschadbank’s leadership continue their legal battle on the international stage, preparing independent audits and demanding European condemnation of what Kyiv has described as “state banditry.”