Oschadbank has confirmed the return of its armored vehicles, which were detained in Hungary on March 6. Upon their return, the bank reported several instances of equipment damage.
The bank provided updates via Telegram, stating that legal representatives conducted a thorough assessment of the identified damages. An evaluation of the losses incurred will take place following the vehicles’ return to Ukraine.
Oschadbank also reiterated that a significant amount of money and valuables, including $40 million, €35 million, and 9 kilograms of gold, remain unlawfully held in Hungary.
“Oschadbank will continue to assert its rights as part of the previously announced strategy: protecting the interests of its employees and recovering the assets belonging to the state bank. A number of legal actions have already been initiated,” the statement read.
Earlier, Andriy Pyshny, the head of the National Bank of Ukraine (NBU), revealed that the detained Ukrainian cash handlers faced intense interrogation, with one requiring hospitalization.
In light of the incident, the NBU advised commercial banks to avoid logistical operations passing through Hungary.
Martin Kocher, the head of Austria’s central bank, expressed surprise at Hungary’s accusations, noting that cash transportation between Austria and Ukraine is standard practice.
On March 11, Olof Gill, Deputy Chief Spokesperson for the European Commission, announced that the Commission had received a letter from the NBU regarding the unlawful detention of Ukrainian cash handlers in Hungary.
Background on the Detention of Oschadbank Employees in Hungary
In the early hours of March 6, Ukrainian Foreign Minister Andriy Sybiha reported that Hungarian authorities had apprehended seven Oschadbank employees traveling with cash on an armored transport from Austria.
Oschadbank confirmed the disappearance of its employees and the detention of the armored vehicles and valuables. GPS data indicated that the bank’s vehicles were located in central Budapest, near a Hungarian security agency.
The bank noted that its employees were transporting cash and valuables under an international agreement with Austria’s Raiffeisen Bank. The cargo was documented in accordance with international transportation regulations and existing European customs procedures. The total value of the detained assets amounted to $40 million, €35 million, and 9 kilograms of gold.
Informed sources indicated to Suspilne that the seized armored vehicles were held in a secure area of the local Anti-Terrorism Center.
Subsequently, Hungary’s National Tax and Customs Administration confirmed the detention of the seven Ukrainians on suspicion of “money laundering” and stated that the Hungarian authorities promptly informed the Ukrainian consulate about the investigation.
The Ukrainian Ministry of Foreign Affairs condemned the actions of Hungarian law enforcement, labeling the detention of the Oschadbank cash handlers as “lawlessness,” and advised Ukrainians to refrain from traveling to Hungary due to safety concerns.
Andriy Pyshny announced that a team from the NBU would urgently travel to Budapest to clarify the situation surrounding the capture of Oschadbank’s cash handling teams.
He emphasized that the transportation of currency valuables by Ukrainian banks is conducted in accordance with international standards and does not involve any violations.
By the evening of March 6, the seven detained cash handlers had returned to Ukraine. Despite Hungary’s claims of “money laundering,” the Ukrainian personnel transporting the funds were not detained, while the valuables remained in Hungary.
On March 10, the Hungarian government passed a special resolution stating that the confiscated funds transported by the Ukrainian cash handlers would be held by Hungary’s National Tax and Customs Administration until the investigation concludes.
In response to the legislative action, Ukrainian Foreign Minister Andriy Sybiha remarked that Hungary is “descending into a spiral of lawlessness.”
Oschadbank's armored vehicles, detained in Hungary, have returned to Ukraine, revealing damages. Meanwhile, substantial funds remain unlawfully held in Hungary amid ongoing investigations.