Ukraine Accuses Hungary of Taking Bank Employees Hostage and Seizing Millions in Cash and Gold

Ukrainian Foreign Minister Andrii Sybiha has accused Hungary of detaining seven Ukrainian citizens in Budapest, describing the situation as hostage-taking and alleging that large sums of money and valuables were seized. The individuals are employees of the state-owned Oschadbank who were transporting funds and precious metals between Austria and Ukraine as part of routine banking transfers.

According to Sybiha, the group was traveling in two armored cash-in-transit vehicles when Hungarian authorities stopped them in the Hungarian capital. The Ukrainian minister said the reasons for the detention have not been clarified and that Kyiv has no information about the condition of the detained employees or whether they are able to communicate with the outside world.

Sybiha sharply criticized the Hungarian government, saying the incident amounted to the taking of hostages and the confiscation of property. He argued that if this was the “force” previously mentioned by Hungarian Prime Minister Viktor Orbán, then it resembled the actions of a criminal organization rather than those of a state. Ukraine has already sent an official diplomatic note demanding the immediate release of its citizens and said it would raise the issue with the European Union, asking Brussels to assess Hungary’s actions as unlawful detention and robbery.

Oschadbank also released details about the incident, stating that GPS tracking indicates the two vehicles are currently located in central Budapest near a Hungarian law enforcement facility. Representatives from the Ukrainian embassy in Hungary and officials from the Ukrainian Foreign Ministry have reportedly confirmed the location of the vehicles, though the whereabouts of the detained employees themselves remain unclear.

The bank said the transport operation had been carried out under an international agreement with Austria’s Raiffeisen Bank and that the cargo had been properly registered under European customs regulations and international transport procedures. According to Oschadbank, the seized shipment included approximately 40 million US dollars, 35 million euros and nine kilograms of gold. The bank has demanded that both the employees and the valuables be returned to Ukraine without delay.

Ukraine’s National Bank also issued a statement urging Hungarian authorities to immediately release the detained citizens and provide an explanation for their actions. The institution called for transparency regarding both the location of the armored vehicles and the status of the transported funds and valuables.

The dispute unfolds against a backdrop of rising tensions between Kyiv and Budapest. Relations have deteriorated in recent months over the suspension of Russian oil transit through the Druzhba pipeline, which supplies crude to Hungary and Slovakia. The pipeline has been out of operation since late January after a Russian strike damaged energy infrastructure in western Ukraine, according to Ukrainian officials.

Budapest and Bratislava have accused Kyiv of deliberately halting the transit, while Hungary has responded by blocking the European Union’s twentieth sanctions package against Russia and by opposing a proposed 90 billion euro EU loan intended to support Ukraine. A source familiar with the Hungarian government’s position said Budapest plans to maintain its objections until oil deliveries through the pipeline resume.

Earlier on March 5, Orbán stated that Hungary was prepared to use political and financial pressure to push for the restoration of the Druzhba oil flow. Ukrainian President Volodymyr Zelensky rejected the idea of reopening the pipeline under current conditions and argued that satellite images cited by Orbán cannot reveal the full reality on the ground. Zelensky also criticized Orbán and Slovak Prime Minister Robert Fico for what he described as a self-interested approach to the dispute.

The Ukrainian leader further suggested that if one EU figure continued to obstruct a proposed 90 billion euro financial package for Kyiv, he might publicly provide that person’s contact details to the Ukrainian Armed Forces, a remark widely interpreted as referring to Orbán.

Hungary’s confrontational stance toward Ukraine has been noted by analysts who link the rhetoric to domestic political dynamics. The country is heading toward parliamentary elections in April, and opinion polls indicate that Orbán’s ruling Fidesz party is currently trailing the opposition Tisza party.