Hungarian authorities have seized vehicles belonging to a Ukrainian state bank and are holding a substantial amount of currency and gold, escalating tensions between the two countries. The incident, which occurred on March 5, 2026, involves cash-in-transit vehicles operated by Oschadbank, and raises questions about the security of international financial transfers.
According to a source familiar with the situation, the seized vehicles have been moved to a secure location within Hungary’s Anti-Terrorist Center. The Anti-Terrorist Center, which falls under the authority of the Hungarian Ministry of Internal Affairs, has been involved in previous actions perceived as critical of Ukraine, including the detention and expulsion of a former Ukrainian diplomat.
Oschadbank has confirmed that its representatives, along with officials from the Ukrainian embassy in Budapest and the Ukrainian Ministry of Foreign Affairs, have located the vehicles. The vehicles were transporting $40 million, €35 million, and 9 kilograms of gold. Though, the whereabouts of the seven Oschadbank employees who were accompanying the vehicles remain unknown.
On the night of March 6, 2026, the National Bank of Ukraine issued a statement accusing Hungarian authorities of illegally seizing the bank’s cash collection teams. The bank stated that the two vehicles were engaged in routine cross-border currency transport.
Ukrainian Foreign Minister Andriy Sybiga described the situation as the taking of Ukrainian hostages by the Orbán regime and called for the immediate release of the bank employees and the return of the seized assets. The case highlights the increasingly strained relationship between Ukraine and Hungary.
The incident comes after Hungarian Prime Minister Viktor Orbán threatened to use force to resume Russian oil deliveries through Ukraine via the Druzhba pipeline. This move underscores Hungary’s continued reliance on Russian energy sources and its willingness to challenge Ukrainian interests.
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