One of seven Oschadbank couriers detained by Hungarian authorities was rushed to hospital in critical condition following interrogation, National Bank of Ukraine Governor Andriy Pyshnyi told Bloomberg News — adding that he was "enraged" by what he called "absurd and illegal" actions by an EU member state.
The incident stems from a March 6 seizure of two armored trucks carrying $40 million, €35 million and 9 kilograms of gold on a routine transit run from Raiffeisen Bank Austria to Oschadbank Ukraine. Hungarian counterterrorism officers in tactical gear stopped the vehicles, handcuffed the couriers and pinned them to the ground roadside. All seven Ukrainian nationals were subsequently detained.
"All this happened in the center of Europe in 2026, in a country that is an EU member and whose government fully disregards European regulations, rules and values," Pyshnyi said in an interview with Bloomberg. He called the operation "absurd and illegal."
Hungary's National Tax and Customs Administration alleged the couriers were suspects in a money-laundering investigation — a claim that quickly came apart. Raiffeisen Bank International stated it provides officials with "extensive information" about its cash-management activities. Austrian central bank Governor Martin Kocher said he was surprised by Budapest's allegations, noting that, as he had been informed, "it's common practice to transport cash between countries." Austrian authorities told Bloomberg they were not aware of any irregularity with the transport.
The government's own account of events also contained errors: an initial statement said the operation took place on a highway leading to Serbia, while video footage showed it occurred on a different road. It also emerged that tax authorities lacked sufficient legal powers to conduct the probe.
Hungary has since indicated it will return the vans — but not their contents. According to Oschadbank's lawyer in Hungary, cited by local outlet Telex, the vehicles were to be handed back Thursday with the cargo remaining in Budapest's custody. Construction Minister Janos Lazar said Hungary would not release the money until Ukraine reopens a critical oil pipeline damaged in a Russian airstrike — a dispute that has been festering for weeks.
President Volodymyr Zelenskyy accused Hungary of "banditry." The seven couriers were eventually released following intervention by Ukrainian authorities, Bloomberg reports.
The seizure fits a broader pattern of deteriorating relations between Kyiv and Budapest. Last month, Prime Minister Viktor Orban vetoed the release of €90 billion in EU loans to Ukraine, citing the pipeline standoff. The cash confiscation has since been folded into Hungary's election campaign ahead of the 12 April vote, with pro-government tabloids circulating AI-generated images of handcuffed men and vans filled with cash.
The NBU has recommended that Ukrainian commercial banks "avoid any logistics that go through Hungary," Pyshnyi said, and has filed complaints with both the European Commission and the European Central Bank.
