Kyiv alleges that Hungarian officials abducted seven workers of the Ukrainian state savings bank Oschadbank, along with a substantial sum of cash and gold, and has urged its nationals to avoid traveling through Hungary.
Ukrainian Foreign Minister Andrii Sybiha accused Hungarian authorities of seizing seven employees of Oschadbank together with a significant quantity of cash and gold.
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The Ukrainian bank reports that a van transporting personnel along with approximately $75 million (€65 million) was stopped in central Budapest. The vehicle was moving cash from Austria to Ukraine. Kyiv states it has lost all communication with the van’s occupants.
This development marks a severe intensification in already strained relations between Hungary and Ukraine, occurring just one day after Hungarian Prime Minister Viktor Orbán and Ukrainian President Volodymyr Zelenskyy exchanged accusations and hinted at potential military measures.
«In Budapest, Hungarian officials detained seven Ukrainian citizens,» Foreign Minister Sybiha declared on X. «This amounts to Hungary taking hostages and confiscating money,» he emphasized.
Earlier that morning, Sybiha issued another message stating Hungary had not provided any details regarding the Ukrainian nationals «taken hostage in Budapest».
«We demand their swift release and are preparing subsequent measures, including at the EU level,» the minister affirmed.
In a further tweet, Sybiha characterized the events as «state terrorism.»
Hungary initiates probe into money laundering
Oschadbank made a public appeal for the release of its employees, criticizing Hungary’s actions as unjustified.
«Oschadbank insists on the immediate return of its personnel and assets to Ukraine,» the statement declared.
The bank specified that the convoy was carrying $40 million, €35 million, and 9 kilograms of gold. It also noted that the operation was coordinated in cooperation with Austria’s Raiffeisen Bank.
«The shipment was registered following international transportation regulations and valid European customs procedures,» the bank affirmed.
Meanwhile, Hungary’s National Tax and Customs Administration confirmed the launch of a criminal investigation concerning alleged money laundering.
The announcement revealed that on March 5, seven Ukrainian nationals were detained, including a former Ukrainian intelligence general, with two armored cash trucks confiscated.
Hungarian Foreign Minister Péter Szijjártó addressed Kyiv in an official statement.
«The government demands immediate clarifications from Ukraine regarding the cash shipments passing through Hungary. The question arises whether this is money linked to the Ukrainian war mafia,» Szijjártó asserted.
According to Hungarian media, the raid took place overnight at a highway rest area, conducted by TEK, Hungary’s anti-terrorism police.
Ukraine advises citizens against transiting Hungary
Ukraine’s Ministry of Foreign Affairs issued a travel advisory urging its citizens to avoid passage through Hungary if feasible.
«The Ministry of Foreign Affairs recommends that Ukrainian citizens refrain from traveling to Hungary given the absence of security guarantees amid arbitrary actions by Hungarian authorities,» the advisory stated, encouraging Ukrainians to seek alternative transit routes.
Budapest and Kyiv remain embroiled in a fierce dispute over the closure of the Druzhba pipeline, which transports Russian oil at low cost to Hungary through Ukraine. The pipeline was damaged in a suspected Russian strike late January and has not been restored since.
Hungary accuses Ukraine of exploiting the issue for political leverage.
On Thursday, Orbán indicated Hungary would restore oil flows and pledged to end what he called a «blockade» by force if necessary. Zelensky responded sharply, suggesting he could send Ukrainian soldiers to speak to Orbán «in their own language.»
Hungary is preparing for parliamentary elections scheduled for April.