Photo: Minfin Media
On Thursday, March 5, Hungarian authorities allegedly detained employees of Ukraine’s state-owned bank Oschadbank and seized funds from two armored bank vehicles in Budapest.
According to a Facebook statement from Ukraine’s Foreign Ministry, seven Ukrainian citizens — all Oschadbank employees — were traveling through Hungary while transporting cash between Austria and Ukraine as part of a routine operation between state banks.
Ukraine’s Foreign Minister Andrii Sybiha said the Hungarian authorities had effectively taken the employees “hostage,” adding that their current condition and ability to communicate remain unknown.
The Ukrainian side claims the two vehicles were carrying approximately $40 million, €35 million, and 9 kilograms of gold. Oschadbank stated that the transportation was conducted under an international agreement with Raiffeisen Bank International in Austria and complied with European customs regulations.
GPS tracking reportedly shows the vehicles are currently located in central Budapest near a Hungarian security facility, though the whereabouts of the employees remain unclear.
Ukraine has sent an official diplomatic note demanding the immediate release of the detained staff and the return of the assets. Kyiv also plans to ask the European Union to assess the legality of Hungary’s actions.
The incident comes amid tensions between Ukraine and Hungary over the Druzhba pipeline. Hungarian Prime Minister Viktor Orbán has recently accused Ukraine of blocking the pipeline’s operation, while Hungary and Slovakia have called for an investigation and demanded access to the facility.
