Hungary detains Ukrainian bank employees carrying millions in cash and gold
Tensions between Ukraine and Hungary have escalated after Hungarian authorities detained seven Ukrainian bank employees transporting large amounts of cash and gold through the country.
Hungary’s tax and customs authority said the group was stopped on suspicion of money laundering while travelling in two armored vehicles carrying around $80 million in cash and 9kg of gold. The workers were employees of Oschadbank, Ukraine’s state savings bank, and were moving funds from Austria back to Ukraine as part of what the bank described as a routine transfer.
Ukrainian Foreign Minister Andrii Sybiha strongly criticised the move, accusing Hungary of seizing the money and detaining the workers without justification. “In fact, we are talking about Hungary taking hostages and stealing money,” Sybiha wrote on X. “If this is the 'force' announced earlier today by Mr Orban, then this is a force of a criminal gang. This is state terrorism and racketeering.”
Hungary’s National Tax and Customs Administration confirmed the arrests and said criminal proceedings were underway. Officials also noted that the convoy included a former general from Ukraine’s intelligence service.
Authorities said large sums of money and gold regularly pass through Hungary on the route to Ukraine, adding that “This year alone, more than $900m, €420m and 146 kg of gold bars were transported through the territory of Hungary to Ukraine.”
Hungarian Foreign Minister Péter Szijjártó questioned why the funds were moved physically rather than electronically. “If this is truly a transaction between banks, why was it not carried out by transfer?” he asked.
The incident comes amid a worsening dispute between the two countries over Russian oil supplies. Deliveries through the Druzhba pipeline, the main route for Russian crude reaching Hungary and Slovakia, have been halted since late January.
Hungary’s Prime Minister Viktor Orbán has accused Ukraine of deliberately blocking the pipeline and warned that Budapest would use “political and financial tools” to pressure Kyiv into restoring shipments.
Ukraine says the pipeline was damaged in a Russian strike earlier this year and repairs could take weeks.
Relations between the countries have deteriorated further as Orbán has opposed European Union support for Ukraine and blocked a major €90bn aid package. The dispute has also become part of Hungary’s heated election campaign ahead of an April vote.
Ukrainian President Volodymyr Zelensky criticised Hungary’s stance and questioned whether Russian oil deliveries should resume at all. “Russians are killing Ukrainians and we have to give oil to Orbán, because he, the poor thing, cannot win the election without this oil,” Zelensky said.
Following the detentions, Ukraine’s foreign ministry warned citizens to avoid travelling to Hungary and advised businesses to consider the risk of assets being seized there.
