US EditionHungary's Ruling Fidesz Drafts Bill to Withhold Seized Ukrainian Assets
Fidesz aims to grant tax authority more power to withhold $40 million and gold seized from a convoy, prompting legal disputes and diplomatic tensions with Ukraine.
- This past week, Fidesz caucus leader Mate Kocsis said the bill would give the Hungarian National Tax and Customs Administration new powers despite potential retroactive concerns and apologised for the short notice.
- Following the convoy raid, NAV launched criminal proceedings on suspicion of money laundering, and seven detained men were expelled from Hungary the next day.
- Ukrainian state-owned Oschadbank and Raiffeisen said the transfer had been coordinated according to international rules and announced they will pursue legal measures to recover the seized assets.
- Kyiv advised Ukrainian citizens not to travel to Hungary after Andriy Sybiha accused Hungary of taking hostages and stealing money, and Zelenskiy said the bill would 'legalise the illegal seizure'.
- Analysts say Fidesz is heightening war fears and escalating tensions with Ukraine to consolidate support, while Prime Minister Viktor Orbán and others suggest the Tisza Party received funds and accuse Zelenskiy of pushing for a pro-Ukrainian government in Hungary.
36 Articles
36 Articles
Hungary's Orbán orders authorities to hold some $82 million in seized Ukrainian cash and gold
Hungarian Prime Minister Viktor Orbán has ordered that a shipment of Ukrainian cash and gold seized last week by Hungarian authorities be held in custody for up to 60 days while his country’s tax authority investigates the case
The crisis between Hungary and Ukraine is growing after accusations of state terrorism and money laundering fly between the capitals.
The interception of the Ukrainian money shipment could be a terribly powerful campaign weapon. It is suitable for blackmailing the Tisza, blackmailing Ukraine, and sending a message to the electorate that Fidesz is not to be messed with. However, this required a multiple leveling-up from the party-state and its supporters.
Hungary demands an explanation for why Ukrainians transported cash and gold worth over 500 million kroner.
They consider it unacceptable to intimidate Ukrainian citizens, and they also requested information about Máté Kocsis's bill.
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