BREAKING: Hungary to expel seven Ukrainian cash couriers, Kyiv warns of possible sanctions

Hungary will expel seven Ukrainian nationals who were detained during a raid on armoured cash transport vehicles earlier this week, according to the Government Information Centre.

Authorities said the men were involved in transporting large amounts of cash and gold through Hungarian territory. The group was intercepted on Thursday by Hungary’s Counter-Terrorism Centre (TEK) at a petrol station on the M5 motorway.

Following an investigation by Hungary’s National Tax and Customs Administration, officials said the background of the seven detainees had been identified. According to the government, the operation transporting the money and precious metals was overseen by a former general of the Ukrainian security services, assisted by a former major in the Ukrainian Air Force and other individuals with military experience.

“Taking these circumstances into account, the seven Ukrainian citizens will be expelled from Hungary on Friday,” the statement said.

Millions in cash and gold at the centre of the dispute

Hungarian authorities previously said the convoy was carrying extremely valuable cargo: USD 40 million, EUR 35 million and nine kilograms of gold.

The vehicles were reportedly travelling between Austria and Ukraine as part of a cash transfer operation linked to Ukraine’s state-owned bank, Oschadbank, and Austria’s Raiffeisen Bank International.

Kyiv insists the transport was part of a legitimate international banking service conducted in accordance with European customs regulations.

Ukrainian officials demand explanations

Ukrainian officials have strongly criticised Hungary’s actions. In earlier statements, Foreign Minister Andrii Sybiha accused Hungarian authorities of effectively “taking seven Ukrainian citizens hostage”.

The head of Ukraine’s central bank, Andriy Pyshnyy, said a delegation from the Ukrainian financial sector would travel urgently to Budapest to clarify the situation. His deputy, Oleksii Shaban, along with representatives of Oschadbank, is expected to meet Hungarian officials.

Pyshnyy also said Ukraine had requested official information from the Hungarian authorities regarding the reasons for the detention of the bank employees and the seizure of their vehicles.

Ukrainian ambassador denied entry to TEK headquarters

Meanwhile, Ukraine’s ambassador to Hungary, Sándor Fegyir, travelled to the headquarters of the Counter-Terrorism Centre in Budapest on Friday around midday but was not allowed into the building, according to Telex journalists on the scene.

The ambassador reportedly spoke briefly with a TEK representative outside the facility before waiting in his car near the entrance.

His visit came shortly after the Hungarian government announced that the seven Ukrainian nationals would be expelled from the country.

Kyiv warns of possible sanctions

Tensions continued to rise on Friday afternoon after Foreign Minister Andrii Sybiha accused the Hungarian government of using the incident for domestic political purposes.

In a statement, he claimed the case was being exploited in Hungary’s election campaign and described the situation as “blackmail”. He also warned that Ukraine could take retaliatory measures.

“Everyone responsible for the hostage-taking of our citizens will be held accountable,” Sybiha wrote, adding that Ukraine reserves the right to introduce sanctions or other restrictive measures.

The minister also called on Hungary not to drag Ukraine into its domestic political disputes and said Kyiv expected strong reactions from its international partners. Ukrainian diplomats are expected to brief foreign missions on what they described as Hungary’s “unacceptable actions”.

The dispute has rapidly developed into one of the most serious diplomatic confrontations between Budapest and Kyiv in recent months, with both sides demanding explanations and preparing further steps.

UPDATE: Video

On Friday afternoon, a video appeared on the Hungarian government’s Facebook page showing the Counter-Terrorism Centre intercepting money transporters travelling from Austria to Ukraine:

5 Comments

Márk

March 6, 2026 / 14:28 Reply

Let me get this straight:
1, Ukraine threatens to assainate the Hungarian PM.
2, Then they decide it’s a good idea to smuggle money across Hungary, as part of a money-laundering operation.
3, When Hungary raids them, they threaten with sanctions. But they already blockaded Hungary, so there is nothing else to sanction.

How dumb are these people?
Why don’t they smuggle it through Poland?
Why don’t they notify Hungary, as law obliges them, that they transport such assets?
Why didn’t they try to claim it’s Ukrains’ national assets, claiming sovereign immunity?

I am baffeld by their autism, frankly.
Mindaugas

March 6, 2026 / 15:10 Reply

Probably you misunderstood article

That was a legit operation in accordance with European customs regulations
And Hungary acted as terrorists holding hostages as i see
Larry

March 6, 2026 / 15:49 Reply

This is literally Hungarian state ‘HIGHWAY ROBBERY”.
Kalman

March 6, 2026 / 19:36 Reply

Anybody with half a brain could come to the conclusion that this is a strange shipment between ‘two banks’ why not a standard bank transfer?? Cash and bullion for shadow deals no doubt !!!
I love the conjecture

March 6, 2026 / 20:13 Reply

To Mark and Kalman, what planet are you on? Did you hear the account from Austria? No, it was conveniently left out. This type of cash tranfer is not so uncommon when a country is at war, like Ukraine. The fact that two legitimate banks were involved (which we don’t know because Hungary hasn’t bothered to ask them) and Austria (which doesn’t have any disputes with Hungary) would lead me to beleive that this is just yet another attempt to starve off Ukraine. Hungary is the poor country with Victor taking out secret loans from outside Hungary in his attempt to buy votes. Maybe this one will give 100000 forints to anyone with two arms.