Hungary Seizes Funds from Ukrainian State Bank
Andriy Pyshnyi, Governor of Ukraine's National Bank (NBU), has reported that Hungary has seized funds belonging to Ukraine's state-owned Oschadbank. This action follows the Hungarian government's adoption of Decree No. 49/2026, which declares cash transfers between banks a threat to national security. As a result, the Ukrainian bank's assets will be frozen for a minimum of 60 days.
This move is part of a broader political stance from Budapest that has strained relations with Kyiv. In a related development, the Hungarian National Assembly passed a resolution refusing to support Ukraine's accession to the European Union. A law enabling the seizure of Oschadbank's funds was also passed concurrently. Hungarian Minister of Construction and Transport János Lázár is involved in the process, which has caused significant concern in Ukraine.
Andriy Pyshnyi stated that 'we are dealing not with a legal process, but with political pressure.'
The NBU Governor emphasized the importance of communication with European partners and expressed hope for an 'unbiased and transparent investigation of the case with appropriate conclusions and results.' He stressed that such actions could demonstrate a commitment to the rule of law within the EU. The situation is being closely monitored by Ukrainian officials and experts.
Implications of Hungary's Political Decisions
The seizure of Oschadbank's funds and Hungary's political decisions regarding support for Ukraine's EU ambitions highlight a sharp deterioration in bilateral relations. This could have serious consequences not only for Ukraine's financial stability but also for its European integration path. The Ukrainian leadership's response indicates a readiness to defend its interests internationally, yet the evolving situation remains under close scrutiny both in Ukraine and within the European Union. Hungary's actions are seen as part of its ongoing, often contentious, diplomatic posture within the EU.