Ukraine has accused Hungary of detaining seven employees of the state-owned Oschadbank and seizing valuables worth nearly $80 million, escalating tensions between the two neighbouring countries.
Ukrainian Foreign Minister Andrii Sybiha said Hungarian authorities stopped two vehicles transporting bank assets from Austria to Ukraine and took the employees into custody in Budapest.
Writing on X, Sybiha claimed the employees were “taken hostage” by Hungarian authorities, adding that the reasons for their detention and their current condition remain unclear.
Cash, Gold and Euros Reportedly Seized
According to a statement from Oschadbank, the detained employees were transporting significant financial assets between Austria and Ukraine.
The bank said the vehicles contained:
- $40 million in cash
- €35 million
- 9 kilograms of gold
The combined value of the assets is estimated to be around $80 million.
Oschadbank also stated that GPS tracking data showed the vehicles located in Budapest, confirming that the convoy had been stopped inside Hungary.
The bank has demanded the immediate release of its employees and the return of the seized assets.
Ukraine Accuses Hungary of “State Terrorism”
Sybiha strongly condemned the incident, accusing Hungary of engaging in “state terrorism and racketeering.”
He said Ukraine had formally demanded an explanation from Hungarian authorities and called for the safe return of the detained employees.
As of now, the Hungarian government has not publicly responded to the allegations.
Growing Political Tensions Between Kyiv and Budapest
The incident comes amid growing tensions between Ukraine and Hungary over political and energy disputes.
Hungary, led by Prime Minister Viktor Orbán, has repeatedly opposed increased military aid to Ukraine within the European Union.
Earlier, Ukrainian President Volodymyr Zelenskyy criticised Orbán for blocking a major EU financial assistance package intended for Kyiv.
Hungary has maintained relatively close relations with Russia compared with many other EU countries.
Oil Pipeline Dispute Adds to Conflict
The dispute also comes amid tensions over the Druzhba oil pipeline, one of the main routes delivering Russian oil to Hungary and Slovakia.
Hungary has accused Ukraine of delaying the restoration of the pipeline after it was damaged during Russian strikes earlier this year.
Kyiv, however, says repair operations have been repeatedly disrupted by ongoing attacks, preventing a quick resumption of oil flows.
Shipments of Russian oil through the pipeline to Hungary and Slovakia have been halted since 27 January, intensifying the dispute between the countries.
Situation Still Developing
Ukraine has demanded urgent clarification and the release of its citizens, while international observers are waiting for an official response from Budapest.
The incident could further strain relations between Ukraine and Hungary at a time when European unity is considered crucial in addressing the ongoing war with Russia.