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Ukrainian bank staff detained in Hungary: Kyiv alleges “hostage-taking”, Budapest launches money-laundering probe
Hungarian counter-terrorism officers detained seven Ukrainian bank employees after stopping two armoured cash-transport vehicles on the M5 motorway on Thursday, triggering a diplomatic row between Budapest and Kyiv.
According to a report from Telex, members of Hungary’s Counter-Terrorism Centre (TEK) carried out a raid at a petrol station along the motorway, targeting two Ukrainian-registered cash-in-transit vehicles. Witnesses said officers dressed in black forced the passengers out of the vehicles and onto the ground before taking them into custody.
The convoy later headed towards Budapest. Hungarian police and TEK did not initially comment on the reasons behind the operation.
However, Hungary’s National Tax and Customs Administration (NAV) later confirmed that the seven Ukrainian nationals had been detained on suspicion of money laundering.
Kyiv accuses Hungary of “hostage-taking”
Ukraine reacted sharply to the incident. In a statement published early Friday, the Ukrainian Embassy in Budapest cited Foreign Minister Andrii Sybiha, saying Hungarian authorities had “effectively taken seven Ukrainian citizens hostage”.
The embassy said the detainees were employees of Ukraine’s state savings bank, Oschadbank, who were transporting cash as part of a regular interbank service between the Ukrainian institution and Raiffeisen Bank International in Austria.
Ukrainian officials claimed the vehicles were conducting an official transit operation between Austria and Ukraine and that the shipment complied with international transport and customs rules.
Kyiv accused Hungary of unlawfully detaining the staff and seizing the cargo. Ukrainian authorities said they had already sent a diplomatic note demanding the immediate release of the seven citizens and clarification regarding their detention.
The Ukrainian government also indicated it would turn to the European Union to seek a legal assessment of Hungary’s actions.
Shortly after 10 AM on Friday, Sybiha posted on X (formerly Twitter), saying, “Ukrainian consuls have still not been permitted access to seven Ukrainian citizens taken hostage in Budapest. The Hungarian side has not provided any explanation. We demand their immediate release and prepare next actions, including at the EU level”.
Millions in cash and gold reportedly seized
According to the Ukrainian side, the convoy was carrying large quantities of assets: USD 40 million, EUR 35 million, and nine kilograms of gold.
Oschadbank said GPS data showed that the intercepted vehicles were currently located in central Budapest near a Hungarian security facility. The bank added that the whereabouts of the detained employees remained unknown.
The shipment, the bank said, was part of an international agreement with Raiffeisen Bank International and had been prepared in accordance with European customs procedures.
Hungary raises questions about huge cash transfers
Hungarian Foreign Minister Péter Szijjártó said the government was demanding explanations from Ukraine over what he described as “astonishing amounts of cash” being transported through Hungary in recent months.
According to the minister, Ukrainian convoys have moved around USD 900 million and EUR 420 million in cash across Hungary since January, along with 146 kilograms of gold.
Szijjártó questioned why such large sums were transported physically instead of being transferred electronically between banks.
He also claimed that some individuals accompanying the shipments had links to Ukrainian intelligence services and raised the possibility that the money could be connected to what he described as a “Ukrainian wartime mafia”.
Hungarian authorities, he said, would conduct a thorough investigation until Ukraine provides clear answers about the origin and purpose of the funds.
If you missed it:
Investigation ongoing
Hungary’s National Tax and Customs Administration confirmed that the seven Ukrainian nationals were taken into custody as part of a criminal investigation into suspected money laundering. Authorities also said one of the detainees is a former intelligence general.
Featured image: illustration, depositphotos.com
Security guards are technically bank stuff.
However these people were caught committing money smugling according to EU law. (You need to notify the government if you enter an EU nation with a few thousand $. It’s even all over the airport.)
But we all know the real reason:
Zenlensky crossed the line. And now anything short of war is on the table. Not looking the other way, when he’s breaking the law is just the beggining.
And taking up Zelensky’s corruption money is a clear message: “you fucked up real bad.”
Almost everyone except you seems to know that banks are exempt from the $10000 limit. It was a bank to bank tranfer. What corruption to you point to in your last paragraph, nothing of the sort has been implied by the Hungarian government. As usual, baseless wild claims.