The Ukrainian state bank, Oschadbank, has announced its intention to reclaim assets and currency that were unlawfully seized in Hungary on March 6. The bank made this statement via its official Facebook page.
Oschadbank outlined two primary strategies to recover its funds and safeguard its rights: contesting the unjust restrictions placed on its employees by the Hungarian immigration authorities and pursuing legal actions to retrieve two armored vehicles along with valuables totaling $40 million, €35 million, and 9 kilograms of gold.
“Oschadbank is fully confident in the legality of its actions. All relevant information and supporting documents have been submitted to the National Bank of Ukraine. To further substantiate its legal position, the bank will engage a leading international firm to conduct an independent audit of the processes and contractual relationships involved in the transportation of funds and valuables,” the bank stated.
The bank emphasized that the transportation was carried out under an international agreement with Raiffeisen Bank Austria, and all cargo was processed according to European customs regulations. Such transport operations occur weekly as part of standard practices amid ongoing conflict.
“Oschadbank demands the full return of its armored vehicles and valuables,” the statement concluded.
In a related development, on the night of March 6, Ukrainian Foreign Minister Andrii Sybiha reported that Hungarian authorities had detained seven employees of Oschadbank who were transporting cash in an armored vehicle from Austria.
Oschadbank confirmed the disappearance of its staff, the seizure of the armored vehicles, and the valuables. GPS data indicated that the bank’s vehicles are currently located in central Budapest, near a Hungarian security agency’s building.
The bank noted that its employees were transporting funds and valuables as part of an international agreement with Raiffeisen Bank Austria, adhering to international transport regulations and European customs procedures. The total value of the detained assets amounted to $40 million, €35 million, and 9 kilograms of gold.
Informed sources revealed that the seized armored vehicles are currently held in a secure area of the local Anti-Terrorism Center.
Subsequently, the Hungarian 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 notified the Ukrainian consulate about the initiation of an investigation.
The Ukrainian Ministry of Foreign Affairs described the detention of the Oschadbank cash transporters by Hungarian law enforcement as “arbitrary” and advised Ukrainian citizens to avoid travel to Hungary due to safety concerns.
Andrii Pyshny, the head of the National Bank of Ukraine, announced that a team from the bank would urgently travel to Budapest to clarify the situation regarding the detention of Oschadbank’s cash transport teams. He reiterated that the transportation of currency 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. Despite allegations of money laundering, Hungary did not detain the individuals transporting the funds, while the valuables remain on Hungarian territory.
Oschadbank is taking legal action to recover assets seized in Hungary, including cash and gold. The bank insists its operations were lawful and is seeking an independent audit to support its case.