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.

Viktor Orbán, Hungary’s prime minister since 2010, faces an election dogfight. Behind in the polls, he has been effectively endorsed by both the Kremlin and the White House, and a host of conservative world leaders. As wars in Iran and Ukraine exacerbate the fissures that have weakened NATO, as well as the U.S.’s relationship with the European Union, this is an election that is being followed with bated breath in Washington, Moscow, Kyiv and Brussels. 

Before the elections on April 12, a scandal engulfed the Hungarian government. On leaked recordings, foreign minister Péter Szijjártó can be heard deferentially acquiescing to his Russian counterpart Sergey Lavrov and passing on information from EU meetings. Szijjártó appeared willing to help the Kremlin’s cause in Brussels, to remove oligarchs and their relatives from the EU blacklist, and to block efforts to aid Ukraine. Hungary’s advocacy for the Kremlin’s agenda culminated in its recent veto of fresh sanctions on Russia and over $100 billion in loans to Ukraine. On X, Polish prime minister Donald Tusk wrote that while “Hungary is and will be in the European Union, Victor Orbán and his foreign minister left Europe long ago.” And the Irish taoiseach Micheál Martin described Szijjárto’s calls with Lavrov as both “sinister” and “alarming.”

Szijjárto alleged that “foreign intelligence services, with the active involvement of Hungarian journalists, have been intercepting my phone calls.” It is a plot, the Hungarian government claims, to influence the upcoming polls. Orbán directly blames Ukraine for seeking to unseat his government. The opposition, led by Peter Magyar, has a healthy lead in the polls and describes the Hungarian government’s closeness to the Kremlin as “treason.” According to European intelligence reports, Moscow sent a three-person team to Hungary, overseen by Putin confidant Sergei Kiriyenko who ran an operation to interfere in the Moldovan election back in September. His tactics encompassed “vote-buying networks, troll farms, and on-the-ground influence campaigns.” A Kremlin-linked media consultancy, facing EU sanctions, was hired to dismiss Magyar as a Brussels stooge and portray Orbán as the only candidate strong enough to to be treated as an equal by world leaders, as evidenced by the strength of his relationship with Trump. 

Despite a war with Iran that doesn’t appear to be going entirely to plan, the U.S. president took time out to back Orbán with enthusiasm and at considerable length on Truth Social. Trump said Orbán was “a true friend, fighter, and WINNER.” JD Vance, the vice president, is scheduled to visit Hungary on April 7, just five days before the election. And secretary of state Marco Rubio went to Hungary in February. It is now part of the U.S. National Security Strategy to work towards “cultivating resistance to Europe’s current trajectory within European nations.” To that end, notes the U.S. government, “the growing influence of patriotic European parties indeed gives cause for great optimism.” Orbán speaks MAGA’s language on immigration, traditional values and the Christian essence of Western societies. He is, like Putin and Trump, in MAGA’s view, an implacable opponent of secular, progressive, globalist politics as symbolised by Brussels.

Orbán, the longest serving current head of government in the EU, has become a figurehead for populist, nationalist movements across the world. The recent CPAC Hungary summit was attended by several of these leaders including France’s Marine Le Pen, Italian deputy prime minister Matteo Salvini, and the Netherlands’ Geert Wilders,who called Orbán “a lion on a continent led by sheep.” Latin American leaders close to Trump , including Javier Milei of Argentina and Jose Antonio Kast of Chile, also attended. Milei, who gave the longest speech at the summit, said Orbán was “a beacon for all… who refuse to accept that the West's destiny is one of managed decline.” This international network, with the United States and Russia included, has a vested ideological interest in seeing Orban continue to remain a thorn in the EU's side. 

But what can Brussels do? The answer, it appears, is not much. The EU is consensus driven; it needs all its parts to act in concert, giving holdouts like Orbán considerable power to hold the whole bloc hostage. But given Orbán’s prominence as an ideologue, when Hungary blocks sanctions or delays support for Ukraine, it is more than a single nation going rogue. Alice Weidler, co-chair of the far-right AfD, the largest opposition party in the German Bundestag, was among those who spoke at the CPAC Hungary conference last month. Robert Fico, prime minister of Slovakia, is an Orbán ally. On April 19, Bulgaria will have its eighth general election in just five years. Former president Rumen Radev’s new Progressive Party leads the polls and shares Orbán’s pro-Kremlin, anti-EU inclinations.

So polarized is the Hungarian election, that right wing groups are deploying their own observers from Argentina, Austria, the Czech Republic, Kenya, Poland, Germany, Italy, Spain, Serbia, Tanzania and the United States to monitor proceedings. EU observers have said the Hungarian government controls the national media and a recent documentary alleges that a desperate government is resorting to vote-buying, gerrymandering and intimidation tactics. It’s hard to see how either Orbán or Magyar will accept the election result without protest, unless the margin is crushing. But, given Trump’s disdain for NATO allies and the EU, an Orbán election defeat would be a much-needed victory for European unity. 

A version of this story was published in this week’s Coda Currents newsletter. Sign up here.

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Editor's Note: This story has been updated with additional details from Ukraine's Foreign Ministry.

A bus carrying Ukrainian children veered off the road and overturned on a Hungarian highway on July 6, leaving 21 people injured, Ukraine's embassy in Hungary reported.

The accident occurred at around 5 a.m. local time between the settlements of Kunszentmarton and Tiszafoldvar. According to preliminary information, the driver lost control of the bus and veered off the road into a ditch. Further details as to the cause of the crash have not yet been determined.

The bus was carrying a children's ensemble from the Ukrainian city of Lviv to Ohrid in North Macedonia for a dance festival. There were 77 people aboard at the time of the accident, including two drivers, chaperones, and ensemble members.

Twenty-one people were injured, with four of them reported to be in serious condition. Two of the seriously injured victims are teenagers (ages 14 and 18) while the other two are adults (ages 67 and 71). Four more children suffered moderate injuries, while the remaining victims suffered minor injuries.

No one was killed, according to the embassy's statement.

The victims were transferred to hospitals in the towns of Szolnok, Kecskemetre, and Szentes.

Rescuers are working at the crash site, along with Ukrainian Ambassador Fegyir Sandor and consuls assisting Ukrainian citizens.

The rest of the passengers are staying temporarily at the Kunszentmarton Cultural Center, where they have been provided food and a place to rest. Those suffering moderate and mild injuries will join the main group at this location.

The bus carrier is reportedly taking measures to prevent additional accidents.

Ukraine war latest: Russia pounds Kyiv with record overnight drone, missile attack, 1 dead, 26 injured

Key developments on July 4: * ‘Nothing but terror and murder’ — Russia pounds Kyiv with record overnight drone, missile attack, 1 dead, 26 injured * Zelensky, Trump discuss air defense, joint drone production amid Russian strikes * ‘There is also good news’ — Ukrainian drones hit key military optics plant in Russia, General Staff

The Kyiv IndependentThe Kyiv Independent news desk

Hungarian Foreign Minister Peter Szijjarto said on June 29 that Washington has lifted sanctions that hindered the expansion of the Paks Nuclear Power Plant, where Russia's state-owned energy company Rosatom is to build two new reactors.

"Construction of the major pieces of equipment for the Paks nuclear plant is proceeding in Russia and France," Szijjarto said, as cited by Bloomberg.

"On-site in Paks, construction can now proceed at a faster pace."

The expansion project, which has endured significant delays, is led by Rosatom and will add to the four active reactors.

The anti-Russian sanctions were imposed by former U.S. President Joe Biden's administration. The U.S. has not reacted to Szijjarto's comments so far.

Since returning to the Oval Office in 2025, U.S. President Donald Trump has tried to push Russia and Ukraine into peace talks to end the war at all costs and has not yet imposed additional sanctions on Russia for its ongoing war against Ukraine.

Meanwhile, Russia has found loopholes to circumvent sanctions, such as using its shadow fleet or relying on other financial mechanisms.

Hungary's Energy Minister Csaba Lantos said in 2023 that he expects the Paks II to be finished in 2032.

Vladyslav Vlasiuk, the Ukrainian president's commissioner for sanctions, said the situation with the expansion of the nuclear plant is "much more complicated." He accused the Hungarian foreign minister of "manipulation."

Vlasiuk explained in a Facebook post that Paks faces a sanctions exemption from the EU. The U.S. has not lifted the sanctions, though there is a new licence that offers the possibility of conducting transactions related to civilian nuclear energy that began prior to November 2024.

EU fails to adopt new Russia sanctions due to Hungarian, Slovak opposition, source says

Unlike Ukraine-skeptic Hungarian Prime Minister Viktor Orban, Slovakia has not previously attempted to block EU sanctions.

The Kyiv IndependentKateryna Hodunova

Editor's note: The story was updated with Slovak Prime Minister Robert Fico's statement voiced during the EU summit.

EU ambassadors have failed to approve the 18th package of sanctions against Russia due to opposition from Hungary and Slovakia, an unnamed EU official told the Kyiv Independent on June 27.

After the 17th package of sanctions against Russia took effect on May 20, Ukraine's allies announced the following day that another round of restrictions was already in the works. Meanwhile, officials in Hungary and Slovakia protested against the approval of new restrictions against Russia.

Unlike Hungarian Prime Minister Viktor Orban, who has consistently opposed sanctions against Russia, Slovakia has not previously attempted to block EU sanctions.

"No agreement was reached. Ambassadors will return to this issue after two reservations are removed," the source told Suspilne in a reference to the position of Slovakia and Hungary.

Slovakia has requested that the adoption of the 18th package of EU sanctions against Russia be postponed until a decision is made on the consequences for the member states from RePowerEU, the European Commission's initiative to end dependence on Russian fossil fuels by 2030 in response to Russia's invasion of Ukraine.

Slovak Prime Minister Robert Fico voiced this proposal during the EU summit, the Slovak Foreign Ministry told Suspilne.

The ambassadors also agreed to extend sectoral sanctions against Russia for six months. These sanctions encompass a broad array of economic areas, including restrictions on trade, finance, technology and dual-use goods, industry, transport, and luxury goods.

In June, the European Commission presented the 18th package of sanctions, which includes new restrictions against the Russian energy and banking sectors and transactions related to the Nord Stream gas pipeline project.

Ukraine's European allies are tightening sanctions against Russia as Moscow refuses to accept a ceasefire. Despite Russia's refusal, no new U.S. sanctions have been imposed so far.

Warfare in Ukraine has changed… again

The Kyiv Independent’s Francis Farrell explains a new modification of the standard first-person view (FPV) drone that already once transformed the way war is fought. Fiber optic cable now used to connect drone operators to FPVs ensures a perfect image and control experience all the way to the target — and cannot be spotted by enemy drone detectors.

The Kyiv IndependentFrancis Farrell

The European Council failed to unanimously adopt a statement of support for Ukraine during its June 26 meeting in Brussels, after Hungary once again failed to support it.

On the eve of the European Council summit, Hungary's government announced on June 26 that 95% of participants in a so-called "national consultation" opposed Ukraine's accession to the EU.

The highly-particized plebiscite, promoted by Prime Minister Viktor Orban's government, has already drawn criticism over its credibility and turnout, raising concerns that Orban may use its results to justify future resistance to Ukraine’s EU accession.

To register their "vote" in the national consultation, Hungarian citizens received their "ballot" in the post, together with a letter from Orban urging people to vote against.

According to the European Council's statement, the document found "firmly supported" by 26 out of the 27 states. All EU states, except Hungary, reaffirmed Ukraine's "inherent right to choose its own destiny" and support for the country's "path towards EU membership."

"The European Council commends Ukraine for the pace of its accession-related reforms under the most challenging circumstances, welcomes the significant progress achieved, and encourages Ukraine and the Commission to intensify work in the accession process," the statement read.

EU member states also agreed to take note of the Commission’s assessment that Ukraine is ready to open the Fundamentals cluster. However, formal negotiations can only begin with the unanimous consent of all 27 member states.

Ukraine applied for EU membership shortly after Russia launched its war in 2022 and was granted candidate status within months.

As an EU member, Hungary has veto power over further progress.

Orban said he voted against Ukraine's accession to the EU in the consultation, publicly sharing photos of himself marking "against" on the poll ballot. He warned earlier this year that allowing Kyiv to join the EU would "destroy" Hungary.

With Trump disengaged and EU complacent, Ukrainian reforms lose momentum

Russia’s all-out war has accelerated Ukraine’s push to join the European Union and NATO, as well as its dependency on Western loans and aid. Before, these things would have been heavily preconditioned on Ukraine implementing crucial reforms. However, the war has also eased the pressure on Kyiv to carry out

The Kyiv IndependentOleg Sukhov

Hungary's government announced on June 26 that 95% of participants in a national consultation opposed Ukraine's accession to the EU, Hungarian news outlet Telex reported.

The poll, promoted by Prime Minister Viktor Orban's government, has already drawn criticism over its credibility and turnout. Telex reported that the system could be manipulated — testing showed that users were able to vote twice using different email addresses.

According to Telex, 2,278,000 people participated in the consultation — approximately 29% of the electorate that voted in the 2024 European Parliament elections. Of those, the government claimed 95% voted against Ukraine joining the EU, while only 5% supported the bid.

Ukraine applied for EU membership shortly after Russia launched its war in 2022 and was granted candidate status within months. As an EU member, Hungary has veto power over further progress.

The consultation results were released on the eve of the European Council summit, giving Orban leverage to delay Ukraine's membership. But the process itself has drawn skepticism.

Government spokesman Gergely Gulyas claimed printed ballots were notarized and secure, and that electronic votes, which made up 10% of the total, were being verified. However, he could not confirm whether the system could detect if someone voted both by mail and online.

Opposition leader Peter Magyar on June 22 dismissed the consultation as a "government propaganda campaign" and cited internal data from Magyar Posta indicating that only 3-7% of mailed ballots were returned.

"It's the lowest-ever turnout for any such consultation," Magyar wrote on social media.

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Since 2010, Orban's government has conducted more than a dozen similar national consultations — non-binding letter campaigns with leading questions designed to reinforce government positions.

Previous campaigns targeted topics like LGBTQ rights and EU migration policy. In one 2023 consultation, voters were asked whether they supported Brussels' alleged plans to create "migrant ghettos" in Hungary — 99% voted no, with turnout under 20%.

On April 22, Orban said he voted against Ukraine's accession to the EU in the consultation, publicly sharing photos of himself marking "against" on the poll ballot. He warned earlier this year that allowing Kyiv to join the EU would "destroy" Hungary.

Orban, the EU's most openly pro-Russian leader, has blocked or delayed military aid to Ukraine, maintained close ties with President Vladimir Putin, and echoed Kremlin talking points.

Hungary's opposition and Western critics view his administration as increasingly authoritarian, citing the erosion of press freedom, judicial independence, and electoral fairness.

Despite the low turnout and widespread allegations of manipulation, Orban is expected to use the consultation's outcome to justify future obstruction of Ukraine's EU integration.

Hungary’s soft power meets Ukraine’s hard reality in Zakarpattia

BEREHOVE, Zakarpattia Oblast — Thin gray smoke drifts beyond the patchwork of Soviet-era apartment blocks, historical buildings, and hillside vineyards that make up Berehove — the heart of the Hungarian community in Ukraine’s westernmost Zakarpattia Oblast. “That’s Hungary, over there, where you see the smoke,” gestures Vitalii Antipov, a member of the local council, toward the not-so-distant horizon. He stands on top of a hill adorned by a massive white cross with a makeshift inscription thank

The Kyiv IndependentMartin Fornusek

Hungary's national consultation on Ukraine's accession to the EU had the lowest ever turnout at such a poll, Hungarian opposition leader Peter Magyar said on June 21.

"The... government propaganda campaign is a total failure. Based on information we received from multiple sources within Magyar Posta (Hungarian Post), only 3-7% of the sent 'ballots' were returned," Magyar said in a post to social media.

The poll was announced by Hungarian Prime Minister Viktor Orban in early March and officially launched on April 19 with ballot papers sent to Hungarian citizens. Many ballot papers explicitly encouraged voters to reject Ukraine’s EU bid.

Orban, on April 22, said he voted against Ukraine's accession to the EU in the national consultation, publicly sharing photos of himself marking "against" on the poll ballot.

"This means that realistically, a maximum of 500,000 people may have 'voted' on paper... the Prime Minister’s Office revealed... that the number of online submissions was negligible compared to the paper-based ones," Magyar said.

"This aligns with information received from government sources — indicating that despite the propaganda lies, the total number of 'voters' could be at most 600,000," he added.

Despite the government's resistance, polling shows public support for Ukraine's accession to the bloc. According to Magyar's opposition party, Tisza's "Voice of the Nation" initiative, which received over 1.1 million responses, 58.18% of participants supported Ukraine's EU bid.

Magyar claims that the national poll garnered around 600,000 responses would mean that the opposition party's own polling received more responses than the government poll.

"This is the lowest number in the 'glorious' history of (national consultations). And this was only achieved over several months, with total mobilization and the burning of tens of billions in public funds. A total failure," Magyar said.

Hungarian officials have repeatedly threatened to undermine Ukraine's EU candidacy and EU support for Ukraine. Hungary has repeatedly blocked or delayed EU aid packages for Kyiv.

"(T)he failed, corrupt regime doesn’t care about people's real problems, and doesn’t dare to look people in the eye. They only send them letters," Magyar said.

Comrades, be proud of lying about two million pen pals, funded by 10 billion forints ($29 million) in state propaganda," he added, addressing Hungary's ruling government.

European officials have denounced Hungary for aligning with Russia. European officials, including Estonian Foreign Minister Margus Tsahkna, have suggested stripping Hungary of its voting power within the bloc.

Hungary maintains positive relations with Russia in contrast with other EU members. On March 26, Hungarian Foreign Minister Peter Szijjarto visited Moscow to discuss continued economic cooperation between the two countries.

How 3 years of war have ravaged Ukraine’s forests, and the people who depend on them

Editor’s note: This story was published in conjunction with Grist. Twenty-two-year-old software developer Artem Motorniuk has spent his entire life in the Zaporizhzhia region of Ukraine, living in the north and visiting his grandparents in the south. It’s been almost four years since he’s seen them in person.

The Kyiv IndependentChad Small