The head of Oschadbank, Yuriy Kachion, announced that the bank has halted the import of cash following an incident involving the detention of Ukrainian cash transporters in Hungary. This decision reflects ongoing concerns regarding the security of cash transportation routes.
Kachion stated that Oschadbank is currently not importing cash from the European Union and is actively seeking safer delivery routes. He emphasized, “Since the incident, we have not imported cash. We are working on new secure transportation and delivery routes, considering the risks we encountered while using Hungary’s territory. Therefore, we are developing safer alternatives.”
Oschadbank is the only commercial bank in Ukraine licensed to import cash from the EU. Due to the temporary suspension of cash supplies, the demand for currency is currently being met by the National Bank of Ukraine through its reserves.
Prior to the full-scale invasion, cash transportation was conducted via air through Boryspil Airport. Since 2022, this process has shifted to road transport, occurring approximately once a week.
According to Kachion, Oschadbank has supplied currency to 39 banks, totaling around $1 billion and €800 million. In 2025, the bank sold approximately $1.45 billion and €387 million to the public while purchasing $522 million and €82 million from citizens.
On March 5, Hungarian authorities stopped a convoy of Oschadbank transporting gold and tens of millions of dollars and euros from Vienna to Ukraine. The Hungarian side blocked the funds, citing suspicions of money laundering.
Subsequently, it was reported that during the raid, Hungarian law enforcement damaged the bank’s armored vehicles, and some gold bars went missing. The Ukrainian side accused Hungarian authorities of incompetence and deliberate property damage.
Additionally, reports from The Guardian indicated that detained individuals may have been subjected to forced injections of an unknown substance resembling a “truth serum” to elicit testimony. One affected individual reportedly experienced a hypertensive crisis and lost consciousness.
Oschadbank has suspended cash imports from the EU following a troubling incident in Hungary where its transporters were detained. The bank is now seeking alternative, safer routes for cash delivery while the National Bank of Ukraine addresses currency demand.