The return of the valuables — seized as they were being transported through Hungary in two armored cars — was confirmed by Zelenskyy in a social media post on Wednesday. He called the step “an important step in relations with Hungary” and said, “I am grateful to Hungary for its constructive approach and civilized step.”
Hungarian counter-terrorism authorities had detained the shipment on March 5, saying they suspected money laundering. Orbán ordered the country’s tax authority to investigate the origin, destination, and intended use of the cash and gold, as well as the identities of the seven Ukrainian bank employees accompanying the cargo. The employees were held for more than 24 hours and then expelled from Hungary. The tax authority did not respond to a request for comment from the Associated Press.
Ukrainian officials insisted the transfer was a routine movement of assets between state banks and accused Orbán’s government of leveraging the seizure to coerce Kyiv into restoring disrupted Russian oil deliveries through the Druzhba pipeline. That pipeline had been damaged by a Russian drone strike, and Hungary had been blocking a major EU loan to Ukraine over the interruption.
Orbán, who was campaigning for re-election at the time, also suggested — without providing evidence — that the shipment may have been meant to fund the Tisza party, his primary political opponent. Last month, Tisza won a landslide victory, securing a two-thirds parliamentary majority.
Following Orbán’s defeat, Russian oil deliveries through Druzhba resumed, and Hungary lifted its veto on the 90-billion-euro loan to Ukraine. The return of the cash and gold removes a prominent irritant in bilateral relations as the new Hungarian government is expected to adopt a less antagonistic posture toward Kyiv.