Hungary has returned about $82 million in cash and gold to Ukraine’s Oschadbank after seizing the shipment on March 5 amid suspicions of money laundering. The consignment — $40 million, €35 million and about 9 kg of gold — was held while Hungary’s tax authority investigated. Kyiv called the seizure politically motivated; the dispute was linked to tensions over Russian oil flows via the Druzhba pipeline and Hungary’s earlier veto of a major EU loan to Ukraine. The return follows Viktor Orbán’s recent election defeat and the resumption of pipeline deliveries.
Hungary Returns $82M In Seized Ukrainian Cash And Gold After Orbán’s Election Loss
Ukraine's President Volodymyr Zelenskyy makes statements as he arrives for the EU Summit in Ayia Napa, Cyprus, Thursday, April 23, 2026. (AP Photo/Petros Karadjias)(ASSOCIATED PRESS)
Hungary has returned a shipment of Ukrainian cash and gold valued at roughly $82 million to Ukraine’s state bank Oschadbank, President Volodymyr Zelenskyy said Wednesday. The move comes after the controversial seizure in March and follows the recent defeat of Prime Minister Viktor Orbán in a landslide election.
The valuables were detained by Hungarian counter-terrorism officers on March 5 while being transported in two armored vehicles. Hungarian authorities initially said they suspected money laundering and ordered the consignment — reported to include $40 million in U.S. dollars, €35 million in cash and about 9 kilograms (19.8 pounds) of gold — to be held for up to 60 days pending a tax-authority investigation.
“I am grateful to Hungary for its constructive approach and civilized step,” Zelenskyy wrote on social media. “I thank everyone on Ukraine’s team who fought for a fair decision and defended the interests of our state and our people.”
Ukrainian officials said the transfer was a routine movement of state assets between banks and accused Orbán’s government of acting unlawfully and using the seizure for political purposes. The seven Ukrainian bank employees who accompanied the shipment were detained for more than 24 hours and then expelled from Hungary.
The incident was tied to a broader diplomatic standoff between Budapest and Kyiv over Hungary’s access to Russian oil via the Druzhba pipeline, which crosses Ukrainian territory and was disrupted after a Russian drone strike. Hungary had used that dispute to block a major €90 billion European Union loan to Ukraine; following Orbán’s election defeat and the resumption of pipeline flows, Hungary lifted its veto and allowed the loan to proceed.
Orbán ordered Hungarian authorities to investigate the origin, destination and intended use of the funds and to examine possible links between the expelled Ukrainians and criminal or terrorist organizations. He also suggested — without providing public evidence — that the seized funds might have been intended to finance his main political opponent, described in some reports as the center-right Tisza party, which went on to win a two-thirds parliamentary majority in last month’s vote.
Hungary’s tax authority did not immediately comment on the seizure or the decision to return the assets. The return is being framed in Kyiv as a diplomatic step forward that may ease tensions between the neighboring countries.
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