On 5 March, seven employees of the state-owned Oschadbank disappeared in Hungary along with two armored cash-in-transit vehicles that were transporting cash and bank metals between Austria and Ukraine.
The incident unfolds amid increased pressure from Budapest on Ukraine, demanding the resumption of Russian oil transit through the “Druzhba” pipeline, which Russia destroyed. On 27 January, Russia struck the pipeline, stopping all deliveries. But Hungarian Prime Minister Viktor Orbán blamed Kyiv and demanded that Ukraine repair the pipeline.
The Ukrainian side states that the situation effectively amounts to hostage-taking and the seizure of state funds, while contact with the bank employees has not yet been established.
Hungary has effectively taken Ukrainians hostage
Ukraine’s Foreign Minister Andrii Sybiha wrote on the social network X that Hungarian authorities are effectively holding seven Ukrainian citizens.
The employees of the state-owned Oschadbank were driving two armored vehicles that regularly transported foreign currency and bank metals between Raiffeisen Bank Austria and the Ukrainian side.
According to Sybiha, the situation resembles a forceful seizure of assets.
“Essentially, Hungary has taken hostages and stolen the money,” he said.
The reasons for the detention remain unknown, and there is currently no way to contact the bank employees.
GPS shows central Budapest: where are bank vehicles?
During the night of 6 March, the state-owned Oschadbank confirmed the incident and reported the abduction of its employees.
According to the bank, the armored vehicles were performing regular international currency transfers between Austria and Ukraine.
GPS tracking shows the detained vehicles are currently in central Budapest, but the fate of the bank employees remains unknown.
Hungary's state terrorism and racketeering: Ukraine appeals to the EU
Ukraine’s Ministry of Foreign Affairs has already sent an official note to Hungary demanding the immediate release of the Ukrainian citizens and an explanation for their detention.
Kyiv also plans to appeal to the EU for a clear legal assessment of the incident.
The National Bank of Ukraine also responded to the situation, demanding official explanations from Budapest and information about the location of the armored vehicles and the valuables they were transporting.
“We demand that the Hungarian authorities immediately release the citizens of Ukraine and provide an official explanation for the reasons for their detention, as well as information about the location of the armored cash-in-transit vehicles and the cargo they were carrying,” the National Bank of Ukraine said in a statement.
Ukrainian authorities say they expect an immediate response from Budapest and continue efforts to clarify the situation and secure the safe return of the detained citizens.
