Hungary Seizes Millions in Cash and Gold from Ukrainian Convoy
Hungarian authorities have seized millions of euros in cash and gold from a Ukrainian convoy and detained seven Ukrainian nationals, sparking a diplomatic row between Budapest and Kyiv.
The national tax and customs administration intercepted two armoured bank vehicles carrying $40 million, €35 million, and 9 kilograms of gold. Officials launched a money-laundering investigation, noting that one of those detained was "a former Ukrainian intelligence service general."
Ukraine's state savings bank, Oschadbank, stated its employees were conducting a routine transfer between Austria and Ukraine, necessary due to restrictions on air travel. The bank insisted the shipment was supported by all required documentation and international agreements.
Ukraine's Foreign Minister Andrii Sybiha accused Hungary of "taking hostages and stealing money," describing the actions as "state banditism" and part of Hungary's election campaign. He warned of possible sanctions and urged Ukrainian citizens to avoid travelling to Hungary, citing security concerns.
The seizure follows escalating tensions over suspended Russian oil shipments through the Druzhba pipeline, which Ukraine says was damaged by a Russian drone strike. Hungary has accused Kyiv of deliberately blocking supplies and has responded by vetoing EU sanctions on Russia and blocking a €90 billion loan for Ukraine.
Hungarian Prime Minister Viktor Orbán, facing a tight election next month, has intensified anti-Ukraine rhetoric, calling Ukraine Hungary's "enemy" and suggesting the oil dispute is aimed at influencing the vote. His political director questioned the legitimacy of transporting such large sums across borders in armoured vehicles, stating this is not how legitimate financial transactions typically operate.
The seven detained Ukrainians were released and returned to Ukraine, though the seized funds remain in Hungarian custody. A lawyer representing the detainees described the proceedings as irregular, noting difficulty in locating his clients. The incident has further strained relations between the neighbouring countries amid ongoing regional tensions, with analysts suggesting the confrontation could benefit Orbán politically by reinforcing his narrative of external threats.