Hungarian Authorities Seize Oschadbank Cash Trucks in Budapest, Holding $75 Million in Cash and Gold

Oschadbank Cash Transport Vehicles Seized

According to ХВИЛЯ: On March 5, Hungarian authorities intercepted two cash-in-transit vehicles belonging to Ukraine's state-owned Oschadbank. The trucks were moving foreign currency and gold from Austria to Ukraine, resulting in the detention of seven Ukrainian bank employees. According to reports, the vehicles contained 40 million US dollars, 35 million euros, and approximately 9 kilograms of gold. The transport was being conducted under an international agreement with Austria's Raiffeisen Bank.

GPS data indicates the seized vehicles are currently held in central Budapest, near a Hungarian law enforcement facility. The National Bank of Ukraine and Oschadbank have demanded the immediate release of their staff and an official explanation from Hungarian authorities. Ukraine's Foreign Minister, Andrii Sybiha, confirmed that an official diplomatic note has been sent to Hungary. This incident occurs amidst a broader diplomatic rift between the two nations, partly fueled by Hungary's stance on the war in Ukraine.

Ukraine's Response and Broader Implications

Ukraine also intends to appeal to the European Union to legally assess the Hungarian government's actions. The seizure took place against a backdrop of heightened tensions, primarily over oil transit issues. Hungarian Prime Minister Viktor Orbán has publicly threatened to halt the transit of goods critical for Ukraine, demanding the resumption of Russian oil shipments via the Druzhba pipeline.

Budapest has additionally suspended exports of gasoline and diesel fuel to Ukrainian consumers, maintaining only electricity supplies. In response to these moves, Ukrainian President Volodymyr Zelenskyy jokingly suggested providing Orbán's address to Ukrainian soldiers if Hungary were to block a 90-billion-euro EU aid package for Ukraine.

The leader of the Tisza Party, Péter Magyar, called on the Ukrainian president to clarify his remarks, stating: 'No foreign leader can threaten any Hungarian citizen. Therefore, I call on the President of Ukraine to clarify his words, and if he indeed said it, to retract them.'

The detention of the Oschadbank vehicles thus reflects the complex and increasingly strained relations between Ukraine and Hungary, exacerbated by economic and political factors. This incident could have serious consequences for bilateral relations and regional stability, particularly given the critical importance of energy supplies in the current European geopolitical context.