The seizure of this valuable Ukrainian asset while being transported through Hungary by 2 armored vehicles was carried out by the Hungarian counter-terrorism force on March 5. The incident has escalated tensions between the two countries in the context of already disagreements over Hungary's access to Russian oil through the Druzhba oil pipeline passing through Ukrainian territory.
On May 7, Ukrainian President Volodymyr Zelenskyy informed on social media that the return of this asset was "an important step forward in relations with Hungary", after Prime Minister Viktor Orbán failed in the election in Hungary last month.
I am grateful to Hungary for this constructive approach and civilized move. I thank everyone in the Ukrainian group for fighting for a fair decision and protecting the interests of the state as well as our people," Zelensky wrote.
At the time of seizure, Hungarian authorities suspected money laundering. Mr. Orbán ordered the temporary detention of the shipment, including 40 million USD, 35 million euros in cash and 9kg of gold, for a maximum of 60 days for the Hungarian tax authorities to investigate.
Ukrainian bank employees traveling with the gold coins were held by Hungarian authorities for more than 24 hours before being deported from the country.
Previously, Mr. Orbán's government blocked a large loan package worth 90 billion euros (about 106 billion USD) from the European Union for Ukraine due to the disruption of Russian oil transportation through the Druzhba pipeline. However, after the oil flow was restored after Mr. Orbán's election defeat, Hungary lifted the veto and allowed the loan package to be approved.
