Oschadbank Employees Detained in Hungary
On March 5, Hungarian authorities detained seven cash-in-transit employees of Ukraine's Oschadbank. The incident occurred while they were transporting currency and valuables between Raiffeisen Bank in Austria and Ukraine. The authorities seized the valuables and two armored vehicles. While the bank staff have since been released and returned to Ukraine, the cargo and vehicles remain impounded in Hungary.
Andriy Pyshnyi, the Governor of Ukraine's National Bank (NBU), stated that Oschadbank has provided the NBU with a full set of documents confirming the legality of transporting the valuables through Hungarian territory.
"I have previously stated that the relevant NBU services have reviewed these documents, and they raised no concerns," Pyshnyi noted.He added that an independent audit of the processes and contractual relationships between all parties involved in the funds transfer has been initiated. This audit will be conducted by an international firm, with details to be announced separately.
Engaging European Partners
Oschadbank and the NBU are actively communicating with European partners to ensure the incident receives an appropriate response. Appeals will be directed to:
- The leadership of the European Central Bank
- The central bank of Austria
- The European Commission's Directorate-General for Financial Stability, Financial Services and Capital Markets Union
- The EU High Representative for Foreign Affairs and Security Policy
- Other relevant bodies
"We are facing a situation where a consul cannot reach citizens of their country, where a lawyer is denied access to their clients, where political statements are made without any substantiation, and where discreditation becomes the primary goal—such actions cannot go without proper assessment," Pyshnyi emphasized.
He separately appealed to the Hungarian side to support the proposed independent audit, suggesting the European Commission could act as an impartial third party to objectively clarify all circumstances. "We and Oschadbank will provide full cooperation," he added. This diplomatic move highlights the broader geopolitical tensions at play.
Notably, on the same day as this incident, Hungarian Prime Minister Viktor Orbán stated his readiness to use force to compel Ukraine to resume the transit of Russian oil via the Druzhba pipeline. "Zelenskyy expects Hungary to be grateful to Ukraine, while the pipeline supplying oil to Hungary is closed," Orbán stressed. Thus, the detention of the Oschadbank employees carries not only legal but significant political implications that require further analysis and resolution.
This incident could impact Ukraine-Hungary relations, occurring against a backdrop of existing energy sector tensions. The detention has raised concerns about legal procedures in Hungary and potential political repercussions, especially in light of Prime Minister Orbán's statements. It is crucial for all parties to adhere to international standards and ensure transparency in investigating this case, which may prove significant for future economic and political relations in the region.