Oschadbank is filing a new arbitration case against Russia over seized assets
Oschadbank has initiated new international arbitration proceedings against Russia over seized assets in the occupied regions of Ukraine. This concerns the Donetsk, Luhansk, Kherson, and Zaporizhzhia regions, where the bank lost its investments and was forced to suspend operations. The amount of the claims already exceeds one billion dollars. This was reported by the financial institution’s press service.
Oschadbank has officially filed a new claim against Russia with an international arbitration court regarding the seizure of banking assets in the temporarily occupied territories of Ukraine. At the heart of the case are the financial institution’s losses in four regions—Donetsk, Luhansk, Kherson, and Zaporizhzhia—where the bank lost the ability to operate after the start of full-scale war.
The bank notes that an official notice of the dispute was sent to Russia back in July 2025, but no response was received. The case was subsequently referred to international arbitration. “On April 7, 2026, Oschadbank officially submitted a claim against the Russian Federation regarding seized assets in four regions of Ukraine to international arbitration…,” the bank’s statement reads.
Preliminary estimates indicate that the amount of the claims already exceeds $1.3 billion. The financial institution emphasizes that Russia is unlikely to comply with the decision voluntarily, so the bank is working on mechanisms for the compulsory enforcement of asset recovery in various countries and jurisdictions.
Oschadbank also notes that it has a track record of winning similar cases. In particular, it previously obtained an arbitration award regarding assets in Crimea worth over $1.1 billion and secured the seizure of Russian property abroad.
Furthermore, in the case involving the seizure by the Hungarian side of Ukrainian cash-in-transit vehicles and valuables, the key issue is not only the return of the property but also holding representatives of the Hungarian special services accountable.
As a reminder, Oschadbank’s legal representative filed a complaint with the Central Investigative Prosecutor’s Office of Hungary regarding suspected abuse of office and the commission of a terrorist act. The incident occurred on March 5, when cash-in-transit vehicles were seized and cash and gold were confiscated.
Oschadbank’s vehicles were foundon the premises of Hungary’s counterterrorism center, according to a source.
The Ukrainian state bank reported that the Oschadbank cash-in-transit vehicles detained by Hungarian law enforcement in Budapest were transporting significant amounts of foreign currency and gold.
The National Bank of Ukraine responded to the incident involving the detention of Oschadbank cash transporters in Hungary and appealed to the Hungarian authorities to provide an official explanation of the situation.
Sources speaking to the British publication stated that the injection forcibly administered to one of the Oschadbank cash transporters detained in Hungary may have been intended to make him more “cooperative” during interrogations.
Meanwhile, European Central Bank President Christine Lagarde believes that the incident involving the attack by Hungarian special forces on Oschadbank cash transporters could pose risks to the EU’s monetary stability.
