Hungary Returns Armored Vehicles to Ukraine's Oschadbank, But Cash and Gold Remain Seized

Armored Cash Trucks Returned to Ukrainian Bank

According to Главком: Hungary has handed back armored vehicles belonging to Ukraine's state-owned Oschadbank, which were seized on March 5. However, the cash and gold being transported in those vehicles remain confiscated by Hungarian authorities. The bank employees detained alongside the trucks have already returned to Ukraine. Oschadbank intends to assess damage to the vehicles and legally challenge the actions of Hungarian services. This incident highlights the complex legal and diplomatic challenges that can arise during international asset transfers.

The National Tax and Customs Administration of Hungary (NAV) transferred the seized Oschadbank vehicles to the bank's representatives and Ukrainian diplomats. Some personal belongings of the seven detained cash-in-transit team members were also returned. Upon transfer, damage to the vehicles' equipment was noted. The bank's legal representatives on-site documented all defects, and a full damage assessment will be conducted once the trucks are back in Ukraine.

Status of the Seized Assets

The monetary funds and valuables transported by the armored vehicles are still being held in Hungary. The seized assets include approximately:

• $40 million USD;
• €35 million;
• 9 kg of bank gold.

On March 5, Oschadbank reported the seizure of its employees, armored trucks, and valuables while the funds were being transported through Hungarian territory. The bank will appeal the actions of the Hungarian immigration service regarding the restriction of the cash couriers' right to enter the EU. A separate review will address the violation of the Ukrainians' rights, as they were held for over a day without access to lawyers or a consul.

Hungary has stated it will return the seized funds and gold to Ukraine if suspicions regarding the Ukrainian couriers are not substantiated. The Governor of the National Bank of Ukraine, Andriy Pyshnyi, reported that the detained couriers were subjected to harsh interrogation, with one requiring urgent hospitalization in serious condition.

Oschadbank expresses gratitude to the Ministry of Foreign Affairs of Ukraine, the Embassy of Ukraine in Hungary, and the Ministry of Internal Affairs of Ukraine for their assistance in recovering the bank's property and its employees.

The situation underscores the critical need for clear international protocols in cross-border value transport. While the return of the vehicles may be a step toward mending relations between Ukraine and Hungary, the fate of the substantial seized assets remains unresolved, with significant financial and diplomatic implications.