Ukraine Secures Release of Detained Bankers
Ukraine has secured the release of seven bank workers who were detained in Hungary while transporting $80 million in cash and gold. The incident had sparked a diplomatic firestorm, with Ukraine's foreign minister accusing Hungary of "state banditry."
The detained employees of Ukraine's state-owned Oschadbank were held on suspicion of money laundering, according to Hungary's National Tax and Customs Administration. The convoy consisted of two armored vehicles transporting $40 million, 35 million euros, and nine kilograms of gold from Austria to Ukraine. Among the seven Ukrainian nationals detained was a former general of the Ukrainian Security Service and a former major of the Ukrainian Air Force. While the bankers were released on March 6, 2026, and have returned to Ukraine, the armored vehicles and the approximately $80 million in assets remain in Hungarian custody as part of the ongoing investigation. This incident occurred amidst a backdrop of escalating tensions between Kyiv and Budapest. A major point of contention has been the Druzhba pipeline, which supplies Russian oil to Hungary via Ukrainian territory. Shipments through the pipeline were interrupted in late January 2026, exacerbating the diplomatic friction. Oschadbank has maintained that the cash and gold transfer was a routine and legitimate operation, conducted in accordance with international agreements with Austria's Raiffeisen Bank. The bank stated that since the start of the full-scale war, such land-based transports of foreign currency have been carried out weekly under all necessary licenses.
