The Hungarian government is seeking answers from Ukraine regarding the transfer of large sums of cash through its territory, as stated by Foreign Minister Péter Szijjártó on March 6. Hungarian media reports indicate that Szijjártó has raised concerns about the purpose of transporting such significant amounts of money.
Szijjártó questioned the necessity of moving large cash sums, suggesting that if these transactions were indeed between banks, they could be settled electronically without the need for physical cash transport. He emphasized that the situation warrants serious scrutiny.
Government spokesperson Zoltán Kovács echoed these sentiments, demanding immediate clarification from Ukraine. He cited Szijjártó’s assertion that approximately $900 million and €420 million in cash, along with 146 kilograms of gold, have allegedly been transported through Hungary since January.
Furthermore, Szijjártó noted that some individuals accompanying these cash transfers reportedly have connections to Ukrainian intelligence services. Until Ukraine provides clear explanations regarding the origin and intended use of these funds, Hungarian authorities will conduct a thorough investigation, including a probe into potential money laundering initiated by the National Tax and Customs Administration.
In a related development, the Ukrainian Foreign Minister accused Hungary of effectively holding seven Ukrainian citizens hostage. These individuals, employees of the state-owned Oschadbank, were reportedly detained while conducting a routine cash transport between Austria and Ukraine.
In light of these events, the Ukrainian Foreign Ministry has advised its citizens to avoid travel to Hungary or transit through the country. Oschadbank has stated that two of its cash transport vehicles, along with their crew, were unjustly detained in Hungary during a regular operation involving foreign currency and precious metals between Raiffeisen Bank Austria and Oschadbank Ukraine.
The bank estimates the value of the assets in the vehicles at $40 million, €35 million, and 9 kilograms of gold. It is demanding the immediate release of its employees and the return of its property to Ukraine.
According to reports from the publication Economic Truth, Hungarian authorities have concealed the seized cash transport vehicles within the secured area of their Anti-Terrorism Center.
Additionally, the Hungarian government recently described a statement from Ukrainian President Volodymyr Zelensky as an “open threat.” During a briefing in Kyiv on March 5, Zelensky suggested he could provide the address of a person in the European Union obstructing aid to Ukraine, without naming anyone specifically.
Hungary is pressing Ukraine for clarity on substantial cash transfers through its territory, raising concerns about potential money laundering and the involvement of Ukrainian intelligence. This follows the detention of Oschadbank employees during a routine cash transport, prompting warnings for Ukrainian citizens traveling to Hungary.