Hungary to Expel Seven Oschadbank Employees Amidst Cash and Gold Smuggling Allegations

Budapest has announced its intention to expel seven Ukrainian nationals detained on Thursday, following an investigation into the transportation of large sums of cash and gold. The move comes as tensions rise between Hungary and Ukraine, with Kyiv accusing Budapest of effectively “taking hostage” its bank employees.

Details of the Detention and Allegations

Hungarian authorities seized two cash-in-transit vehicles belonging to Ukraine’s state-owned Oschadbank. The vehicles were carrying $40 million, EUR 35 million, and 9 kg of gold between Raiffeisen Bank (Austria) and Oschadbank (Ukraine) as part of a regular service .

According to Hungarian government spokesman Zoltán Kovács, the investigation revealed that the operation was supervised by a former general of the Ukrainian Security Service, with a former major of the Ukrainian Air Force acting as his deputy, and assisted by individuals with military experience . Based on these findings, all seven individuals will be expelled from Hungary.

The Hungarian National Tax and Customs Administration has initiated criminal proceedings on suspicion of money laundering against the seven Ukrainian citizens .

Ukraine’s Response and Accusations

Ukraine has strongly condemned the detention, with Foreign Minister Andriy Sybiha stating that Hungarian authorities had effectively taken the Oschadbank employees hostage and stolen the money . Ukraine has sent an official note to Hungary demanding the immediate release of the citizens and plans to appeal to the European Union for a legal assessment of Budapest’s actions .

The National Bank of Ukraine has confirmed the detention of the vehicles and employees . According to sources, the vehicles are currently located in the restricted area of the Anti-Terrorism Center in Budapest, while the employees’ whereabouts remain unknown.

Broader Context: Hungary-Ukraine Relations

This incident occurs against a backdrop of strained relations between Hungary and Ukraine. Recently, Hungary blocked a €90 billion aid package from the European Union for Ukraine, seeking a commitment to resume the transit of Russian oil through the Druzhba pipeline . Ukrainian President Volodymyr Zelenskyy responded with a strong rebuke, suggesting he would share the address of Hungarian Prime Minister Viktor Orbán with Ukrainian troops if Hungary continued to obstruct the aid . Hungary has characterized Zelenskyy’s comments as a threat and a breach of diplomatic norms .