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Vue normale

Hungary held $82 million in cash and gold from Ukraine for months. Now, it faces torture complaints in Europe’s top court

15 octobre 2026 à 11:50

Hungary stopped a Ukrainian Oschadbank armored convoy in 2026, held its couriers, and kept $82 million in cash and gold. The European Court of Human Rights has registered six applications from the bank's couriers, who say Hungarian police unlawfully detained and tortured them.

In March, Hungarian forces stopped two bank vehicles carrying cash and bank metals from Austria to Ukraine, with seven employees transporting $40 million, 35 million euros, and nine kilograms of gold. It happened just before Hungary’s parliamentary elections, in which then-prime minister Viktor Orban had built his campaign around a sweeping anti-Ukraine message, and lost.

Six of the employees filed with the court on 5 July 2026, and the court’s secretariat has now confirmed their registration and assigned each an official number, according to the bank. It expects a seventh courier’s application, alleging the same violations, to be registered too.

“The fact that the ECHR has accepted the complaint and opened proceedings indicates that there are reasonable legal grounds for the case, that it has legal merit, and that the court intends to examine it on its merits,” Oschadbank says.

The rights the couriers say Hungary broke

The complaints rest on two articles of the European Convention on Human Rights. Article 3 bans torture and inhuman or degrading treatment, while Article 5 guarantees the right to liberty and protects people from arbitrary detention, the bank notes.

During the detention, one courier, a diabetic former Security Service officer, was forcibly injected with an unknown substance, which his Hungarian lawyer confirmed he received despite his objections. He then suffered a hypertensive crisis, lost consciousness and was hospitalized, and Oschadbank confirmed that medical care came only after he passed out, The Guardian reported.

Oschadbank calls the registration an important step in defending its staff. Board chairman Yury Katsion said the bank will continue to protect the couriers’ interests and its own reputation, expects a legal assessment of the Hungarian forces’ actions and is grateful to partners for their support.

Why registration is a start, not a verdict

The cases are only at an early stage. Registration does not mean the court has found a violation or ruled the complaints admissible, as it must separately weigh the procedural conditions and the circumstances the applicants describe, Oschadbank stresses.

The incident itself, however, is documented: Hungary returned the seven couriers the next day but held the cash and gold for months, releasing the vehicles on 12 March and the money and gold by May.

  • ✇The Kyiv Independent
  • Ukrainian bank wins $1.5 billion appeal against Russia over lost Crimea assets
    Ukraine’s Oschadbank won an appeal against Russia on July 1 after the Paris appeals court rejected Moscow’s challenge to a 2018 arbitration ruling ordering compensation for losses due to Russia's annexation of Crimea, the bank announced in a press release on July 3.The Paris Court of Appeal upheld the November 2018 arbitration tribunal decision requiring Russia to compensate Oschadbank for damages incurred when Moscow annexed the Ukrainian peninsula in 2014.The ruling orders Russia to pay more t
     

Ukrainian bank wins $1.5 billion appeal against Russia over lost Crimea assets

3 juillet 2025 à 13:35
Ukrainian bank wins $1.5 billion appeal against Russia over lost Crimea assets

Ukraine’s Oschadbank won an appeal against Russia on July 1 after the Paris appeals court rejected Moscow’s challenge to a 2018 arbitration ruling ordering compensation for losses due to Russia's annexation of Crimea, the bank announced in a press release on July 3.

The Paris Court of Appeal upheld the November 2018 arbitration tribunal decision requiring Russia to compensate Oschadbank for damages incurred when Moscow annexed the Ukrainian peninsula in 2014.

The ruling orders Russia to pay more than $1.5 billion in damages and an additional 300,000 euros ($330,000) in legal costs to Ukraine's largest state-owned bank, according to a press release.

"The victory proves that efforts to force the aggressor state to answer legally for damages caused by the occupation of part of Ukraine's territory have good prospects," said Rosa Tapanova, a member of Oschadbank's supervisory board.

Oschadbank Chairman Serhii Naumov said it's the first Ukrainian bank to win such a case against Russia.

The decision follows Oschadbank's recent seizure of over 87 million euros ($102 million) in Russian assets in France as part of its campaign to recover war-related losses. The bank has been pursuing Russian assets across multiple jurisdictions to enforce the arbitration award.

"We understand that the Russian Federation will never voluntarily comply with the court's decision, and we are prepared for a long struggle," said Arsen Miliutin, deputy chairman of Oschadbank's management board.

"At the same time, we are confident that we will win, and Russia will pay not only the amount of damages caused, but also interest for all this time."

The Oschadbank victory adds to a growing list of Ukrainian legal wins against Russia. On June 23, Naftogaz CEO Serhii Koretskyi announced that an international arbitration tribunal in Switzerland had ordered Russia's Gazprom to pay the Ukrainian state energy company $1.37 billion after the Russian firm stopped fulfilling contract obligations in May 2022.

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Ukrainian bank wins $1.5 billion appeal against Russia over lost Crimea assetsThe Kyiv IndependentAndrea Januta
Ukrainian bank wins $1.5 billion appeal against Russia over lost Crimea assets
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