Hungary pursues asset recovery as EU reviews rule-of-law sanctions

The new Hungarian government, led by Prime Minister Péter Magyar and the Tisza Party, has launched a major anti-corruption operation aimed at recovering state assets. The initiative seeks to reclaim billions of euros allegedly misappropriated by oligarchs, political allies, and family members of former Prime Minister Viktor Orbán. Estimates for the recovered funds range from 60 billion euros to significantly higher amounts.

Concurrently, the European Parliament is reviewing the suspension of the Article 7 procedure against Hungary. This procedure, initiated in 2018 due to concerns regarding the rule of law, judicial independence, and media freedom, represents the EU’s strictest mechanism and could potentially strip a member state of its voting rights.

Members of the European People's Party (EPP) are advocating for the suspension of the procedure, citing reforms implemented by the Magyar administration to align with EU standards. An EU parliamentary mission is scheduled to visit Hungary in late October to assess the factual situation. A final decision on the Article 7 procedure is expected by early 2027.