Hungary Returns Seized USD 82 Million Cash, Gold Shipment to Ukraine

Hungary has returned a seized shipment of Ukrainian cash and gold worth nearly USD 82 million to Ukraine’s state-owned Oschadbank, signalling a possible thaw in relations after months of tensions under former Prime Minister Viktor Orbán’s government.

Ukrainian President Volodymyr Zelenskyy said the assets had been returned “in full” and described the move as “an important step in relations with Hungary.” He thanked Hungarian authorities for their “constructive approach and civilised step.”

The shipment was seized on March 5 after Hungarian counter-terrorism police intercepted two armoured vehicles transporting the valuables through Hungary. The cargo included USD 40 million in cash , 35 million euros , and 9 kilograms of gold , reportedly being transferred from Austria’s Raiffeisen Bank International to Ukraine’s Oschadbank as part of a routine banking operation.

Orbán’s administration had claimed the convoy was under investigation for suspected money laundering and ordered a 60-day tax probe. Seven Ukrainian bank employees accompanying the shipment were detained for over 24 hours before being expelled from Hungary.

Ukraine condemned the seizure as illegal and politically motivated. Foreign Minister Andrii Sybiha described it as “state terrorism,” while Kyiv accused Budapest of using the incident to pressure Ukraine over Russian oil transit through the Druzhba pipeline and to support Orbán’s anti-Ukraine election campaign.

The dispute unfolded alongside Hungary’s veto of a major €90 billion European Union aid package for Ukraine. Relations began improving after Orbán’s election defeat last month. The incoming Tisza Party government led by Péter Magyar has promised closer EU ties and a more pragmatic approach toward Kyiv. Hungary later lifted its veto after oil flows resumed.