Hungary Accused of Hostage Taking and Robbery of Ukrainian Bank

Budapest, Hungary – Ukrainian officials have accused Hungarian authorities of taking seven employees of Ukraine’s state-owned Oschadbank hostage and seizing a substantial amount of money and gold. The incident, which occurred on March 5, 2026, has sparked a diplomatic crisis between the two nations.

Details of the Incident

According to Ukrainian Foreign Minister Andriy Sybiha, the seven Oschadbank employees were detained in Budapest even as transporting $40 million, €35 million, and 9 kilograms of gold between Raiffeisen Bank Austria and Oschadbank Ukraine. Sybiha described the detention as “state terrorism and racketeering,” alleging it was a criminal act rather than a legitimate law enforcement measure. He stated that communication with the employees has been cut off and their condition is unknown.

Oschadbank confirmed the detention of its employees and stated that the vehicles carrying the funds were located in the center of Budapest, near Hungarian security forces. The bank emphasized that the transportation of funds was conducted in accordance with international agreements and European customs procedures. Kyiv Post reported that the employees were taken on Thursday with no explanation while performing routine operate.

Official Responses

The National Bank of Ukraine (NBU) has demanded the immediate release of the Oschadbank employees and a full explanation for their detention, as well as information regarding the location of the vehicles and cargo. Ukraine has sent an official note to Budapest demanding their release and intends to appeal to the European Union for a clear condemnation of Hungary’s actions, characterizing them as robbery and hostage-taking.

Broader Context: Disputes Between Hungary and Ukraine

This incident occurs amid escalating tensions between Hungary and Ukraine. A key point of contention is the Druzhba oil pipeline, which transports Russian oil through Ukraine to Hungary. Hungary has requested that Ukraine repair damage to the pipeline following reported Russian attacks, while Ukraine maintains that a quick repair is not feasible. This dispute has led to Hungary blocking a €90 billion EU loan to Ukraine, further straining relations.

Ongoing Situation

As of March 6, 2026, the situation remains unresolved. Ukrainian authorities are awaiting a response from Hungary and are seeking international support to secure the release of their citizens and the return of the seized funds. The incident is likely to further complicate the already strained relationship between Ukraine and Hungary.