Budapest is preparing a special law that could allow Hungarian authorities to retain Ukrainian money and gold seized during the seizure of a bank convoy. The case has already sparked a major diplomatic dispute between Ukraine and Hungary.
Draft regulations submitted to parliament by the leader of the ruling party’s faction Fidesz, Máté Kocsis. The law stipulates that the seized funds and valuables may be formally retained by the state until the conclusion of the proceedings conducted by the Hungarian National Tax and Customs Administration.
According to the project, the authorities are to carry out 60 days This will include establishing the identity of those transporting the funds, checking for possible links to criminal or terrorist activities, and assessing the impact of the entire operation on Hungary’s national security.
This was commented on by the Minister of Foreign Affairs of Ukraine Andriy Sybiha. He stated that the manner in which the illegal seizure of funds was legalized proves that the current arrest is unfounded.
They are simply adding lawlessness to lawlessness. We will hold all those involved accountable—not only for the theft of money, but above all for the brutal treatment of seven Ukrainian citizens, which violates the European Convention on Human Rights and the Vienna Convention.
Convoy carrying millions stopped in Budapest
The dispute began on March 5, when Hungarian services in Budapest stopped two armored collection vehicles belonging to a Ukrainian state-owned bank. Oschadbank. The vehicles transported money and precious metals from Austria to Ukraine.
According to Ukrainian authorities, there were about 40 million dollars, 35 million euros and 9 kilograms of gold. The total value of the transported funds exceeded 100 million dollars.
Seven bank employees were also detained during the operation. Ukraine claimed that they were unlawfully detained.
Bank employees returned to Ukraine
Minister of Foreign Affairs of Ukraine Andriy Sybiha He later reported that seven Ukrainian citizens had been released and returned to the country. However, the money and valuables transported remain under the control of Hungarian authorities.
Ukrainian authorities have announced legal action to recover the funds. Oschadbank emphasizes that the transport took place within the framework of legal international cooperation with the Austrian bank. Raiffeisen Bank International, and the bank has all the required licenses for the transportation of cash.
Harsh words from Ukrainian diplomacy
Ukrainian Foreign Minister Andriy Sybiha sharply criticized Budapest’s actions.
— The attempt to legalize the seized money proves that the arrest was unfounded. We will hold everyone involved accountable. — he announced.
According to Kyiv, the actions of the Hungarian authorities may violate European conventions on human rights and international rules on financial transport.
Another installment of the Orbán-Zelensky conflict
The bank convoy incident occurred at a time of rising tensions between the governments Viktor Orbán and Volodymyr Zelensky. The dispute concerns, among other things, the transport of Russian oil via pipeline “Friendship” and the supply of energy resources to Central Europe.
Experts point out that the issue of the detained money may further deepen the diplomatic crisis between the two countries.
Source: UA informant / Andrii Sybiha
Journalist and Editor-in-Chief of Nowiny Wschodnie, a news platform followed by more than 140,000 people on social media. A graduate in Journalism and Social Communication, he has been co-creating and developing Nowiny Wschodnie since 2017. He gained professional experience working with local and international media.
He specializes in fact-checking, countering disinformation and propaganda, and information security. His work focuses on Poland, Ukraine, Eastern Europe, and Polish-Ukrainian relations. He is also the founder of a non-profit organization working in the fields of integration and intercultural dialogue.
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