KYIV – President Volodymyr Zelensky on May 6 announced that Hungary had returned cash and gold seized from employees of a state-owned Ukrainian bank in March amid a political spat with Budapest.
The announcement marks a further thaw in Kyiv-Budapest ties after Kremlin-friendly leader Viktor Orban was voted out of office in April.
“An important step in relations with Hungary – today, the funds and valuables of Oschadbank that were seized by Hungarian special services in March of this year were returned,” Mr Zelensky said, in a statement on social media.
“I am grateful to Hungary for its constructive approach and civilised step,” the Ukrainian leader added.
Kyiv accused Budapest of hostage-taking with the detention of seven employees of Oschadbank who were transiting through Hungary with US$40 million (S$50 million), €35 million (S$52 million) and nine kilogrammes of gold bars that were also seized.
Hungary released the bank employees the next day following an outcry from Kyiv but had held the cash and gold until the May 6 announcement.
Kyiv said the bank was carrying out a routine transfer that abided by all relevant laws, but Hungary said the bank employees were arrested on a money-laundering probe.
The incident triggered fiery exchanges between neighbours that have frequently clashed over what Ukraine sees as Hungary’s closeness to Moscow amid the Russian invasion.
Relations have thawed considerably since the election of opposition leader Peter Magyar, who has announced plans to meet with Mr Zelensky.
Mr Orban, ousted after 16 years in power, had repeatedly used Hungary’s veto power to stall EU financial assistance to Ukraine and sanctions against Russia. AFP
