Hungary Seizes Cash and Gold from Ukrainian Citizens
On March 5, 2026, Hungarian authorities detained seven Ukrainian citizens and seized two armored vehicles carrying approximately $40 million, €35 million, and 9 kg of gold. Hungary's National Tax and Customs Administration stated it is conducting criminal proceedings on suspicion of money laundering. Ukraine accused Hungary of taking the individuals hostage and illegally seizing the funds, with its Foreign Minister calling it "state terrorism and racketeering." As of March 6, 2026, Hungary had expelled the seven Ukrainian citizens and the vehicles, while Ukraine demanded explanations and an appeal to the EU was being prepared.
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7 updatesOschadbank said it will appeal Hungary's expulsion of seven bank employees and launch legal proceedings to recover the seized cash and gold, calling the operation an illegal seizure. The bank said the Raiffeisen-to-Kyiv transfer was a lawful weekly overland shipment carried out under international transport and customs rules.
Hungarian government spokesperson Zoltan Kovacs stated that the team transporting the cash and gold was supervised by a former general of the Ukrainian Security Service, with a former major of the Ukrainian Air Force acting as deputy and assisted by individuals with military experience.
In response to the incident, Ukraine's Foreign Ministry recommended that Ukrainian citizens refrain from traveling to Hungary due to concerns about their safety and the potential for arbitrary actions by Hungarian authorities.
Hungary announced that the seven detained Ukrainian citizens and the two armored vehicles had already been expelled from the country. Ukraine's Foreign Minister confirmed the expulsion and stated that Ukraine was demanding explanations from Hungary and preparing an appeal to the EU.
Hungary's National Tax and Customs Administration stated that it had "immediately informed the Ukrainian consular service about the start of the procedure" but had not received a response. Ukraine's Foreign Minister Andrii Sybiha stated that Ukrainian consuls had still not been permitted access to the detained citizens.
Ukraine's Foreign Minister Andrii Sybiha accused Hungary of taking the seven Ukrainian bank employees "hostage" and illegally seizing the funds, labeling the actions as "state terrorism and racketeering." Ukraine's National Bank also issued a statement demanding the immediate release of the citizens and an explanation for their detention.
Seven Ukrainian citizens, employees of the state-owned Oschadbank, were detained by Hungarian authorities in Budapest while transporting approximately $40 million, €35 million, and 9 kg of gold from Austria to Ukraine in two armored vehicles. Hungary's National Tax and Customs Administration announced criminal proceedings on suspicion of money laundering.
Story began · 18 days ago