Hungarian law enforcement has intercepted two armored cash-in-transit vehicles belonging to Ukraine’s state-owned Oschadbank, detaining seven Ukrainian citizens and seizing tens of millions in foreign currency along with a significant quantity of gold.
The incident involves the transport of $40 million, €35 million, and approximately 9 kilograms of gold. According to Hvylya, citing the bank's press service, the Ukrainian Foreign Ministry, and Hungarian outlet Magyar Hang, the convoy was traveling from Austria to Ukraine under an official agreement with Austria’s Raiffeisen Bank, reportedly following all EU customs procedures.
Hungary’s National Tax and Customs Administration stated it has opened a criminal investigation into suspected money laundering. Local media reports suggest that those detained on March 6 may include a former general of the Ukrainian secret service. Official Budapest claims it notified Ukraine’s consular service of the proceedings but allegedly received no response.
The Ukrainian side has categorically rejected the allegations. Foreign Minister Andrii Sybiha characterized Budapest’s actions as "state terrorism and racket," confirming that an official diplomatic note has been issued. "In fact, we are talking about Hungary taking hostages and stealing money," the minister stated.
Due to the unprecedented nature of the situation, the Ministry of Foreign Affairs officially recommended on March 6 that Ukrainian citizens refrain from traveling to Hungary. The ministry noted its inability to guarantee the safety of Ukrainians amid what it described as arbitrary actions by local authorities. Businesses have also been urged to consider the risks of illegal asset seizure and to seek alternative transit routes.
The seizure of the banking vehicles occurred against a backdrop of sharp political escalation. Prime Minister Viktor Orban has threatened to halt the transit of critical goods unless Ukraine resumes the flow of Russian oil through the Druzhba pipeline. Budapest has already suspended the export of gasoline and diesel to Ukraine.
This escalation followed remarks by President Volodymyr Zelensky, who jokingly suggested providing Orban’s address to the Ukrainian military if Hungary blocked a €90 billion EU loan. The comment drew sharp criticism from both the current Hungarian government and Peter Magyar, leader of the opposition Tisza party.