Hungarian authorities refuse to return tens of millions of dollars in cash and nine kilograms of gold seized from an armored convoy headed to Ukraine. Officials link the funds to a suspected “Ukraine war mafia,” intensifying bilateral tensions.
Details of the Seizure
Hungarian police intercepted two armored vehicles earlier this week, uncovering around $40 million in U.S. dollars, €35 million, and 9 kilograms of gold. Authorities halted the convoy on money laundering suspicions. Seven Ukrainian nationals aboard, including a former intelligence general, faced detention before depoation.
Video footage captures the interception of the vehicles transpoing the cash and gold through Hungary toward Ukraine, highlighting the scale of the operation.
Oschadbank’s Demand
Ukraine’s state-owned Oschadbank insists the assets belong to Ukrainian citizens and businesses deposited legally at the bank. The funds originated from routine transfers via Austria’s Raiffeisen Bank. The bank labels the seizure illegal and calls for their prompt return.
Orban Raises Questions
Prime Minister Viktor Orban addressed the issue at a rally in Debrecen, questioning the funds’ purpose. “We just want to know what the Ukrainians are doing with all this money in Hungary,” he stated. Orban added, “All we have right now are questions, but we will find the answers.”
Escalating Bilateral Tensions
The standoff compounds disputes over Russian oil transit, EU sanctions, financial aid to Ukraine, and conscription of ethnic Hungarians into Ukraine’s army. Ukrainian President Volodymyr Zelensky recently threatened Orban personally during a row over Hungary’s block on a $105 billion EU loan to Ukraine.
Hungary accuses Ukraine of shutting a Soviet-era pipeline delivering Russian oil through its territory. Ukraine counters that a Russian strike caused the damage.
Zelensky suggested revealing Orban’s address to Ukrainian troops so they could “call him and speak with him in their own language.” Hungary and the EU condemned the remark as unacceptable.
