Fidesz Seeks to Retain Seized Ukrainian Assets for 60 Days
Hungary's ruling party proposed a bill to keep $82 million in seized Ukrainian assets for 60 days. Kyiv demands the return of funds as investigations continue.
The ruling Fidesz party in Hungary has introduced legislation to allow national authorities to retain millions of dollars in cash and gold seized from Ukraine for an extended two-month period. The bill, submitted to parliament on Monday, seeks to provide the tax authority with 60 days to conduct covert intelligence gathering following the detention of two bank vehicles last week. Relations between the two nations have been increasingly fraught, particularly given the close ties between Budapest and Russia. Last week, Hungarian officials detained seven Ukrainian nationals transporting approximately $82 million in assets on suspicion of money laundering. Although the individuals were released and expelled on Friday, the Hungarian government maintained control over the seized assets. Prime Minister Viktor Orban noted that the state needs to understand the purpose of such a large transfer during a period of heightened regional tension. Ukrainian Foreign Minister Andrii Sybiha issued a sharp rebuke regarding the retention of the funds. > "This money does not belong to Hungary or its government; it is owned by Ukraines state bank, Oschadbank, and thus by Ukrainian taxpayers." The Ukrainian government has characterized the incident as state-sponsored racketeering and accused Hungarian authorities of violating the human rights of the detained couriers. The investigation aims to clarify the origin and destination of the assets, as well as any potential links to criminal or terrorist organizations. While the seizure involves physical state assets, the move has drawn attention from the broader international community and stakeholders in the precious metals sector, including major industry players such as Barrick Gold Corporation. The bill is expected to undergo an expedited voting process on Tuesday. If approved, the legislation will grant the Hungarian tax authority the legal framework to hold the $82 million for 60 days while the investigation into national security implications continues.
