Banking · Geopolitics · Hungary · Ukraine
A significant diplomatic and financial crisis has erupted between Hungary and Ukraine after Hungarian authorities seized a Ukrainian Oschadbank convoy.
Ukraine accuses Hungary of "kidnapping" seven bank employees and "stealing" approximately $75 million (€65 million) in cash and 9kg of gold, which was being transported from Austria to Ukraine. Oschadbank insists the cargo was properly registered and organized with Raiffeisen Bank, demanding the immediate release of its staff and assets.
Conversely, Hungary's National Tax and Customs Administration confirmed the arrest of seven Ukrainian nationals, including a former intelligence general, and initiated a money laundering investigation. Hungarian Foreign Minister Péter Szijjártó questioned if the funds were linked to a "Ukrainian war mafia." This incident dramatically escalates already tense relations, fueled by disputes over the Druzhba pipeline and recent threats between Prime Minister Orbán and President Zelenskyy.
Ukraine has issued a travel warning for its citizens regarding transit through Hungary, indicating potential EU-level actions.
