Zelensky to Discuss Recovery of Oschadbank Assets Frozen in Hungary With Madiiar

Ukrainian President Volodymyr Zelensky announced on April 19, 2026 that he would hold discussions with Mykola Madiiar — Ukraine's Ambassador to Hungary — regarding the return of assets belonging to Oschadbank, Ukraine's state savings bank, that have been frozen in Hungary under Viktor Orbán's government.

The Oschadbank Funds Issue

The matter of Ukrainian state bank assets in Hungary has been a source of significant diplomatic friction between Kyiv and Budapest. Ukraine maintains that Hungarian authorities have illegally withheld or frozen Oschadbank funds, and that the Orbán government has exploited its position as a European Union member state to block the return of Ukrainian financial assets.

This dispute fits within a broader pattern of strained relations between Ukraine and Hungary, with Orbán repeatedly blocking or delaying EU aid packages to Ukraine and maintaining close ties with Russia compared to other NATO and EU members.

Diplomatic Context

Madiiar, serving as Ukraine's envoy in Budapest, has been involved in managing the fraught diplomatic relationship between the two neighboring states. Ukraine's ability to recover these financial assets is seen as connected to the broader question of whether Hungary will continue to exploit its EU veto to obstruct Western support for Ukraine in the war.

Hungary under Orbán has been one of the most difficult allies for Kyiv to manage, having repeatedly called for ceasefire negotiations that Ukraine views as favoring Russia, while also maintaining significant economic ties with Moscow despite the war.