This article analyzes the key factors behind the securitization of Ukraine’s small ethnic Hungarian minority in recent years and how they affect local interethnic as well as interstate relations. It draws on elite interviews conducted in the Ukrainian-Hungarian borderland, and other sources including speech acts. Four underlying factors were identified. The first two are Hungary’s kin-state aid and dual citizenship law, which have empowered Ukraine’s ethnic Hungarians, with the community appearing larger and potentially more threatening in the eyes of the majority population than its mere size justifies...