A significant diplomatic crisis has erupted between Ukraine and Hungary following the detention of seven Ukrainian bank employees in Budapest. The incident, which Ukrainian officials have characterized as an act of ‘state terrorism,’ involves staff from the State Savings Bank of Ukraine (Oschadbank) who were transporting a substantial consignment of $40 million in cash and nine kilograms of gold.
Ukrainian Foreign Minister Andrii Sybiha publicly accused Hungarian authorities on Friday of taking the individuals ‘hostage.’ In a series of posts on social media platform X, Sybiha detailed that the employees were operating two armored vehicles on a routine transit route between Austria and Ukraine, a standard service between state financial institutions. The minister vehemently denounced the action, stating, ‘We are talking about Hungary taking hostages and stealing money. This is state terrorism and racketeering.’
The detention occurs against a backdrop of persistently strained relations between the two nations. Hungary has notably distanced itself from broader European Union consensus, maintaining close diplomatic and economic ties with Russia throughout the ongoing conflict in Ukraine. The government of Prime Minister Viktor Orbán has consistently opposed military aid packages for Kyiv and has been critical of EU sanctions imposed on Moscow.
Oschadbank confirmed the incident but expressed grave concern as the precise location of its employees remains unknown. Data from GPS signals indicates the bank vehicles are stationed in central Budapest, reportedly near a Hungarian law enforcement facility. As of the latest reports, the Hungarian government has not issued an official statement or responded to requests for comment from international news agencies, deepening the mystery surrounding the legal basis for the detention.