Hungarian authorities have detained two armored cash-in-transit vehicles belonging to the state-owned Oschadbank and taken seven Ukrainian employees hostage without providing legal grounds. The vehicles were transporting foreign currency and gold from Austria to Ukraine when they were intercepted on March 5.
According to the Hvylya news outlet, citing a statement from Oschadbank's press service, the armored trucks were carrying $40 million, €35 million, and approximately 9 kilograms of gold. The transport was conducted under an international agreement with Austria's Raiffeisen Bank and adhered to all European customs procedures. GPS data indicates the seized vehicles are currently located in central Budapest near a government security facility. The current whereabouts of the detained Ukrainian staff remain unknown.
The National Bank of Ukraine and Oschadbank have demanded the immediate release of the citizens and an official explanation for the detention. Ukrainian Foreign Minister Andrii Sybiha issued a sharp response to Budapest's actions, confirming that an official diplomatic note has been dispatched.
"In fact, we are talking about Hungary taking hostages and stealing money," Sybiha stated. He added that if this represents the "strength" previously alluded to by the Hungarian Prime Minister, then it is the "strength of a criminal group, state terrorism, and racketeering." Ukraine intends to petition the European Union for a legal assessment of the Hungarian government's actions.
The seizure of the bank vehicles occurred amid a sharp deterioration in bilateral relations. Prime Minister Viktor Orban has publicly threatened to halt the transit of critical goods to Ukraine, demanding the resumption of Russian oil transit via the Druzhba pipeline.
"We will suspend deliveries through Hungary that are important for Ukraine until Ukraine agrees to supply oil," Orban said during a local radio broadcast. Additionally, Budapest has ceased the export of gasoline and diesel fuel to Ukrainian consumers, leaving only electricity supplies active.
The escalation follows a remark by President Volodymyr Zelensky, who jokingly suggested providing Orban's address to the Ukrainian military if Hungary were to block a €90 billion EU loan. The comment sparked outrage not only within the Hungarian government but also among the opposition. Peter Magyar, leader of the Tisza party, defended Orban and demanded clarification from the Ukrainian leader.
"No leader of a foreign state can threaten any Hungarian—neither the outgoing Orban government nor a future Tisza government. Therefore, I call on the President of Ukraine to clarify his words and, if he indeed said this, to retract them," Magyar stated.