Hungary adopts special resolution on seized Oschadbank cash and gold
The Hungarian government has adopted a special resolution concerning cash and gold seized from armored vehicles belonging to Ukraine's Oschadbank. The assets will remain under the control of Hungarian authorities for the duration of the investigation.
That is according to the text of the resolution, Ukrinform reports, citing Suspilne.
Resolution No. 49/2026 (III.9.) concerns measures related to EUR 35 million, $40 million in cash, and nine gold bars weighing one kilogram each, which were being transported in Oschadbank vehicles through Hungarian territory.
The document states that on March 5, Hungarian customs officers detained two vehicles carrying seven Ukrainian citizens. During the inspection, officials said they "were unable to establish the origin of the funds, their final destination, the purpose of the transportation, or the legal grounds for moving such assets through the country."
Hungarian authorities claimed the circumstances of the transportation could pose risks to national security and said that "the method of transporting the money and gold did not correspond to usual international practice," prompting the launch of a criminal investigation.
Investigators are now tasked with determining the origin of the assets, the purpose of their transportation, and whether the couriers may have links to criminal or other organizations.
Under the resolution, Hungary's National Tax and Customs Administration will store the seized cash and gold during the investigation, which is expected to last up to 60 days from the date the document entered into force. During this period, the assets will remain under the control of Hungarian authorities.
The resolution has been published in the Hungarian Official Gazette and has already entered into force.
On March 6, Ukrainian Foreign Minister Andrii Sybiha said Hungarian authorities in Budapest had detained seven Ukrainian citizens – employees of Oschadbank – and seized the money they were transporting from Austria to Ukraine. According to him, the vehicles were traveling in transit between Austria and Ukraine and were transporting cash as part of regular servicing between state-owned banks.
Later that day, Hungary's tax authority confirmed the detention of seven Oschadbank cash collectors and two vehicles carrying cash, saying a criminal investigation had been launched on suspicion of money laundering.
Sybiha said Hungary had no grounds to detain the Oschadbank employees and their convoy and had violated international law. He later added that, in effect, "Hungarian authorities robbed two Ukrainian armored bank vehicles."
The cash collectors were subsequently expelled from Hungary and returned to Ukraine.
On March 7, the National Bank of Ukraine said the unlawful seizure of Oschadbank's armored vehicles in Hungary could cause temporary logistical difficulties in delivering foreign cash currency from abroad. In response, the central bank said it was ready to supply Ukrainian banks with additional foreign cash reserves if necessary.
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