Hungary has closed the Oschadbank case after finding no crime connected to an $82 million shipment of cash and gold belonging to Ukraine’s state-owned savings bank, The Insider reported on 20 August 2026, citing the bank’s lawyer Lóránt Horváth.

Closing the money-laundering case removes the allegation used to justify seizing Oschadbank’s assets. A separate criminal investigation is examining the couriers’ detention, while Prime Minister Péter Magyar’s government has opened an internal review of the agencies involved. Together with the return of the assets, these steps reverse how this case was handled under former PM Viktor Orbán and may help improve relations with Ukraine.

Hungary’s National Tax and Customs Administration (NAV), the country’s tax and customs authority, traced the assets to a documented deal between Austria’s Raiffeisen Bank International and Oschadbank. Raiffeisen provided records establishing the assets’ origin and Oschadbank’s payment, according to Horváth’s account of NAV’s decision.

Meanwhile, a separate investigation into the couriers’ alleged unlawful detention remains open. János Hajdu, the former head of Hungary’s Counter-Terrorism Center (TEK), is a suspect. TEK is the country’s armed counterterrorism police.

A leaked prosecution document named former Prime Minister Viktor Orbán and three other former officials, including Hajdu, among those involved in deciding on the operation. Orbán has not been named as a suspect, Euronews reported on 30 June.

Orbán denies wrongdoing and says the raid was lawful.

How the Oschadbank case began

TEK stopped two armored cash-in-transit vans near Budapest on 5 March 2026. They carried $40 million, €35 million, and nine kilograms of gold from Vienna to Kyiv under a routine banking contract, Euromaidan Press reported. Officers detained the seven Oschadbank employees as witnesses, kept them handcuffed for 28 hours, and denied them lawyers and Ukrainian consular access, Ukraine’s Foreign Ministry said.

Hungary deported the couriers and imposed three-year Schengen bans, which barred them from most of Europe, although none had been charged with a crime. The orders and bans were later annulled.

Orbán’s government nevertheless portrayed the shipment as possible money laundering. Fidesz politicians also alleged, without evidence, that it was intended to finance Magyar’s then-opposition party, Tisza.

Hungary returned the vans, cash, and gold by 6 May. Ukrainian Foreign Minister Andrii Sybiha called the handover a break with Orbán-era “lawlessness” and a sign that relations could advance through “mutual respect and healthy pragmatism,” Reuters reported.

Ukraine’s Oschadbank won an appeal against Russia on July 1 after the Paris appeals court rejected Moscow’s challenge to a 2018 arbitration ruling ordering compensation for losses due to Russia's annexation of Crimea, the bank announced in a press release on July 3.

The Paris Court of Appeal upheld the November 2018 arbitration tribunal decision requiring Russia to compensate Oschadbank for damages incurred when Moscow annexed the Ukrainian peninsula in 2014.

The ruling orders Russia to pay more than $1.5 billion in damages and an additional 300,000 euros ($330,000) in legal costs to Ukraine's largest state-owned bank, according to a press release.

"The victory proves that efforts to force the aggressor state to answer legally for damages caused by the occupation of part of Ukraine's territory have good prospects," said Rosa Tapanova, a member of Oschadbank's supervisory board.

Oschadbank Chairman Serhii Naumov said it's the first Ukrainian bank to win such a case against Russia.

The decision follows Oschadbank's recent seizure of over 87 million euros ($102 million) in Russian assets in France as part of its campaign to recover war-related losses. The bank has been pursuing Russian assets across multiple jurisdictions to enforce the arbitration award.

"We understand that the Russian Federation will never voluntarily comply with the court's decision, and we are prepared for a long struggle," said Arsen Miliutin, deputy chairman of Oschadbank's management board.

"At the same time, we are confident that we will win, and Russia will pay not only the amount of damages caused, but also interest for all this time."

The Oschadbank victory adds to a growing list of Ukrainian legal wins against Russia. On June 23, Naftogaz CEO Serhii Koretskyi announced that an international arbitration tribunal in Switzerland had ordered Russia's Gazprom to pay the Ukrainian state energy company $1.37 billion after the Russian firm stopped fulfilling contract obligations in May 2022.

As Trump ‘loses interest’ in Ukraine, Kyiv scrambles to clarify extent of U.S. military aid pause

When the U.S. Department of Defense (DOD) halted the transfer of critical air defense missiles and other weapons to Ukraine, Kyiv and its partners were caught off-guard and are now left scrambling for clarity on the scope and length of the Trump administration’s decision. The White House confirmed the halt after a July 1 report by Politico said shipments were paused due to concerns over the size of domestic stockpiles. The decision “was made to put America’s interests first following a DOD rev

The Kyiv IndependentAndrea Januta