Hungary returns Ukrainian cash and gold to Oschadbank, Zelenskyy says

President Volodymyr Zelenskyy said Hungary has returned a Ukrainian cash and gold shipment worth about USD 82 million. The valuables went back to Ukraine’s state Oschadbank after being seized earlier in 2025. The case had strained bilateral ties and triggered strong criticism in Ukraine. Zelenskyy presented the handover as a step forward in relations.

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On social media on Wednesday, Zelenskyy linked the return to a shift in ties after Hungary’s election last month. Prime Minister Viktor Orban was defeated by the centre-right Tisza party, which won a two-thirds majority. Zelenskyy wrote, "I am grateful to Hungary for its constructive approach and civilised step,\" and added, \"I thank everyone on Ukraines team who fought for a fair decision and defended the interests of our state and our people.\"

Ukraine Hungary relations and the return of seized cash and gold

Hungarian counter-terrorism authorities detained two armoured cars carrying the shipment on March 5. The seizure sparked outrage in Ukraine. Ukrainian officials accused Hungary’s pro-Russian government of acting illegally. Ukraine also alleged the move fed Orban’s anti-Ukraine election campaign. The neighbouring states were already in dispute on other issues.

Hungary’s action came amid a feud over Russian oil supplies that run through Ukrainian territory. Ukraine said Budapest used the detained assets as pressure. Ukrainian officials alleged blackmail aimed at restoring flows through the Druzhba pipeline. Those shipments were interrupted after a Russian drone strike damaged the pipeline. Hungary relied on the route for access to Russian oil.

Ukraine Hungary relations amid money laundering concerns and a tax probe

Hungarian authorities said the shipment raised money laundering suspicions. Orban ordered the cargo held for up to 60 days during a tax authority investigation. Officials said the transfer included USD 40 million and 35 million euros in cash. The load also contained 9 kilograms of gold. Orban directed checks on origin, destination, and intended use.

Orban also ordered scrutiny of the travellers linked to the shipment. Hungarian authorities held the Ukrainian bank employees for more than 24 hours. The group was later expelled from Hungary. Orban asked investigators to confirm the identity of seven expelled Ukrainians. Orban also wanted checks for possible ties to criminal or terrorist organisations.

Ukraine Hungary relations and EU loan dispute linked to Druzhba pipeline

Ukrainian officials said the cargo was a normal asset transfer between state banks. Orban suggested, without evidence, it might fund the centre-right Tisza party. That party was Orban’s main political rival. Meanwhile, Orban’s government blocked a 90-billion euro, USD 106-billion European Union loan to Ukraine. The veto was tied to the Druzhba oil interruption.

After Orban’s election defeat, the Russian oil flows resumed through Druzhba. Hungary then lifted its veto, allowing the European Union loan to proceed. Hungary’s tax authority did not immediately respond to a request for comment. Zelenskyy treated the valuables’ return as a practical improvement in Ukraine-Hungary relations after weeks of disputes.

With inputs from PTI