Oschadbank Succeeded in Having Unlawful Decisions Regarding Its Employees in Hungary Completely Revoked

Today, May 18, the National Directorate General for Aliens Policing revoked the deportation orders and the three-year ban on entry into and stay within the Schengen Area for all seven Oschadbank employees. In addition, the Hungarian side resolved to immediately remove the relevant records from state registers.

This decision was based on an official notification from Hungary’s competent Constitutional Protection Office regarding the retraction of earlier statements about alleged threats to national security posed by Ukrainian citizens. It is noteworthy that this notification was received after the relevant decisions had already been challenged in court. At the same time, the Hungarian side decided not to await the outcome of the court proceedings in Budapest and revoked the restrictions on its own initiative.

Thus, all restrictions imposed on March 6, 2026 – when the Hungarian authorities adopted a decision to deport Ukrainian citizens (Oschadbank cash-in-transit couriers) and ban them from entering the Schengen Area – have been revoked.

“The complete revocation of the unlawful decisions regarding our employees proves that Oschadbank was right. We have defended not only the rights of our people but also the reputation of a state-owned financial institution that operates exclusively within the framework of international law. This victory demonstrates that a systematic legal position, diplomatic support, and consistency in defending national interests yield results even amid the most challenging international situations. We are grateful to the President of Ukraine, the National Bank of Ukraine, and the Ministry of Foreign Affairs of Ukraine for their support in defending the legitimate interests of the state-owned bank,” said Yurii Katsion, Chairman of the Management Board of Oschadbank, who led the Bank’s team in Hungary.

Oschadbank expresses its gratitude for the support in Hungary to Horvathlawyers Law Firm, as well as to its legal advisor, Asters Law Firm.

Here's a brief overview:

• On March 5, 2026, two Oschadbank cash-in-transit vehicles were unlawfully detained in Hungary along with a team of cash-in-transit couriers who were transporting USD 40 million, EUR 35 million, and 9 kg of bank gold from Vienna to Kyiv;
• Transportation was carried out under an international agreement between Oschadbank and Raiffeisen Bank Austria; the cargo was documented in accordance with international transport regulations and applicable EU customs procedures;
• The cash-in-transit vehicles were transporting funds and bank metals belonging to Oschadbank and intended to ensure cash circulation in Ukraine;
• On March 6, seven employees of Oschadbank’s cash-in-transit service, who had been unlawfully detained by Hungarian law enforcement authorities, returned to Ukraine;
• On March 12, two cash-in-transit vehicles were returned to Oschadbank;
• On May 6, 2026, Oschadbank returned its funds and valuables unlawfully detained in Hungary, amounting to USD 40 million, EUR 35 million, and 9 kg of bank gold.