The Hungarian government is taking steps to retroactively legitimize the confiscation of cash and gold from vehicles belonging to Ukraine’s Oschadbank, which were seized on March 6. Laurent Horvat, the attorney representing the affected cash transporters, stated that a proposed bill submitted on March 9 aims to formalize this confiscation.
According to a report by the Hungarian news portal Telex, during a broadcast on ATV’s “Direct Conversation,” Horvat highlighted that the bill, introduced by Mate Kocsis, the leader of the Fidesz party, seeks to classify the confiscated assets as such until the conclusion of proceedings by the National Tax and Customs Administration. The Hungarian Parliament’s National Security Committee approved the bill on the same day it was submitted, with a vote of four in favor and two abstentions. The Parliament is expected to consider it in an extraordinary session.
Horvat emphasized that his legal team demands the annulment of the confiscation and the return of Oschadbank’s property. He noted that they have not received any formal decision regarding the confiscation, raising the possibility that no such decision exists. The new bill, according to Horvat, eliminates the need for a formal ruling and simultaneously removes the possibility of appeal, leaving only a constitutional complaint as a recourse, which the Constitutional Court has 60 days to address.
Horvat also responded to comments made by Hungary’s Minister of Construction and Transport, Janos Lazar, who stated that the seizure of the cash transport vehicles was not coincidental and was linked to the closure of a pipeline. Horvat interpreted these remarks as an acknowledgment of at least two criminal offenses: abuse of office and actions that could be classified as terrorism under Hungarian law. He expressed hope that the prosecution would take notice of this situation.
Adrienn Lazo, another attorney on the team, described the proposed legislation as unprecedentedly personalized.
“My first reaction is not suitable for publication,” Lazo remarked, adding that the Hungarian authorities are not even attempting to disguise that the bill was drafted for a specific case.
Lazo mentioned that the team has already submitted a procedural document based on existing legislation.
Context of the Seizure of Oschadbank Employees in Hungary
On the night of March 6, Ukrainian Foreign Minister Andriy Sybiga announced that Hungarian authorities had detained seven employees of Oschadbank who were transporting cash on an armored vehicle from Austria.
Oschadbank confirmed that its employees had gone missing in Hungary, along with the confiscated vehicles and valuables. GPS data indicated that the bank’s vehicles were located in central Budapest, near a building associated with Hungarian security forces.
The bank noted that its employees were transporting cash and valuables under an international agreement with Austria’s Raiffeisen Bank, and the cargo was compliant with international transport regulations and current European customs procedures. The total value of the assets in the seized vehicles was reported to be $40 million, €35 million, and 9 kilograms of gold.
Informed sources disclosed to Suspilne that the seized armored vehicles are currently held in a secured 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. They also stated that the Hungarian authorities promptly informed the Ukrainian consulate about the initiation of the investigation.
The Ukrainian Ministry of Foreign Affairs condemned the detention of the Oschadbank cash transporters by Hungarian authorities as “arbitrary” and advised Ukrainian citizens to avoid traveling to Hungary due to safety concerns.
Andriy Pyshny, the head of Ukraine’s National Bank, announced that a team from the bank would urgently travel to Budapest to clarify the situation regarding the seizure of Oschadbank’s cash transporters.
He also stated that the transportation of currency valuables by Ukrainian banks is conducted in accordance with international norms and does not involve any violations.
By the evening of March 6, the seven detained cash transporters returned to Ukraine. Hungary, despite allegations of “money laundering,” did not detain the Ukrainians transporting the funds. The valuables remain on Hungarian territory.
The Hungarian government is proposing legislation to retroactively legitimize the confiscation of cash and gold from Oschadbank employees, raising legal and ethical concerns. The situation follows the detention of seven bank employees during a cash transport operation, which has drawn condemnation from Ukrainian officials.