Hungary Detains Ukrainian Bank Employees Amid Tensions

The recent actions of the Hungarian Tax Authority have significantly heightened tensions between Hungary and Ukraine. On March 5, 2026, Hungarian counter-terrorism forces detained seven Ukrainian citizens, including employees of Oschadbank, while they were transporting cash and gold from Austria to Ukraine. The operation involved two armored vehicles carrying approximately $40 million, 35 million euros, and nine kilograms of gold. Ukrainian Foreign Minister Andrii Sybiha condemned the detentions, labeling them as "state terrorism and racketeering," and demanded the immediate release of the detainees.

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The Hungarian government has stated that the National Tax and Customs Administration (NAV) is pursuing criminal proceedings against the detainees on suspicion of money laundering. Government spokesperson Zoltan Kovacs announced that the detainees would be expelled from Hungary. However, the fate of the money being transported remains unclear. The detainees' lawyer, Lorant Horvath, reported difficulties in contacting his clients, and Ukraine's ambassador to Budapest, Sandor Fegyir, was also unable to meet with them. In response to the situation, Ukraine has advised its citizens against traveling to Hungary, citing concerns over their safety due to what it describes as the "arbitrary actions" of Hungarian authorities.

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The incident occurs against a backdrop of strained relations between Hungary and Ukraine, exacerbated by Hungary's blocking of substantial European Union aid intended for Kyiv. Hungarian Prime Minister Viktor Orban has made the conflict in Ukraine a focal point of his political campaign, particularly as he faces an election on April 12, 2026. Orban has accused Ukraine of blackmail regarding oil flow disputes and has vetoed new EU sanctions against Moscow, indicating a complex interplay of domestic politics and international relations.

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Critics of Hungary's actions, including Ukrainian officials, have expressed outrage over the detentions. Oschadbank stated that the employees were engaged in a routine operation, emphasizing that similar cash transport activities have been conducted weekly since the onset of the full-scale invasion of Ukraine. This perspective highlights the view that Hungary's actions may be politically motivated rather than based on legitimate legal concerns.

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While Hungary maintains that the detentions are part of a criminal investigation, Ukrainian officials assert that the operation was routine and necessary for their banking operations. The lack of clarity regarding the legal basis for the detentions and the fate of the transported funds adds to the complexity of the situation.

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• “This is state terrorism and racketeering,” — Andrii Sybiha, Ukrainian Foreign Minister

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• “Defence lawyers must also be allowed (access).” — Lorant Horvath, Detainees' Lawyer

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• “Since the start of the full-scale invasion, foreign currency and bank metals have been transported exclusively by land,” — Oschadbank Statement

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The unfolding situation between Hungary and Ukraine underscores the fragile nature of their bilateral relations and the broader implications for European security and cooperation.

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