A shipment of Ukrainian cash and gold worth around €70 million, seized by Hungary earlier this year, has been returned to Ukraine’s state bank, Oschadbank, President Volodymyr Zelenskyy announced. The valuables were detained on 5 March when Hungarian counter-terrorism authorities stopped two armoured cars transporting them.
This seizure led to widespread outrage in Ukraine, with officials accusing Hungary’s pro-Russian government of acting illegally and using it to support Prime Minister Viktor Orbán‘s anti-Ukraine election campaign.
Zelenskyy stated that the return of the assets constitutes “an important step in relations with Hungary,” especially after Orbán’s recent electoral defeat raised hopes for improved ties. He expressed gratitude to Hungary for its constructive approach and acknowledged the efforts of those defending Ukraine’s interests.
Hungarian authorities had originally claimed they suspected money laundering and held the shipment, which included $40 million, €35 million in cash, and 9 kilogrammes of gold, pending an investigation. The Ukrainian bank employees accompanying the shipment were detained for over 24 hours before being expelled. Officials in Ukraine insisted the transfer was routine and accused Orbán’s government of using the situation to pressure Kyiv regarding Russian oil shipments.
Orbán had ordered an investigation into the shipment’s details and suggested, without evidence, that it might fund his political opponent. Previously, his government had blocked a €90 billion EU loan to Ukraine over the oil interruption, but after the election, Hungary lifted its veto, allowing the loan to proceed.
This article used information from The Associated Press.
