Oschadbank Staff Illegally Held in Hungary
Oschadbank has reported that seven of its employees, who were escorting cash-in-transit vehicles, have been illegally detained in Hungary. The incident occurred on March 5th while the bank staff were transporting funds from Austria to bolster Ukraine's cash supply and market liquidity. The total value of the assets, whose current status is unknown, amounts to $40 million USD, €35 million, and 9 kilograms of gold.
The National Bank of Ukraine has issued a statement condemning the seizure of Oschadbank's armored vehicles and the unlawful detention of its personnel on Hungarian soil. Oschadbank stated it received no prior or subsequent notification from Hungarian authorities regarding the detention, and consular officials have still not been granted access to the detained employees. The bank asserts there is no conceivable legal justification for detaining the vehicles and crew, who were conducting a routine transit operation.
Diplomatic Response and Implications
In response, the Ukrainian side has sent an official diplomatic note demanding the immediate release of the detainees. Deputy Chairman of the National Bank of Ukraine, Oleksii Shaban, along with a bank team, has urgently traveled to Budapest to clarify the circumstances of the incident. All the detained cash service employees have extensive experience working for Oschadbank, ranging from three or four years to 21 years.
The Hungarian publication index.hu reports that seven Ukrainian citizens have allegedly been expelled from Hungary. Oschadbank emphasizes that the assets in the seized vehicles belong to the state bank and were entrusted to it by Ukrainian citizens and businesses.
This is state terrorism and racketeering- commented Andrii Sybiha on the situation.
Similar cash transport runs by Oschadbank are conducted weekly, and the bank holds the requisite license for international transport operations, issued by Ukraine's State Service for Transport Safety. This incident occurs against a backdrop of historically tense relations between Ukraine and Hungary, often centered on minority rights and energy policy.
The incident has caused significant concern in Ukraine and prompted a diplomatic reaction. The illegal detention of Oschadbank staff could have serious repercussions for bilateral relations, particularly regarding the security and legality of international financial transactions. As a state financial institution, Oschadbank is seeking to protect its employees and assets, underscoring the critical importance of adhering to international agreements and norms in financial operations.