Tensions between Hungary and Ukraine have intensified after Hungarian authorities seized two armored vehicles from Ukraine that were carrying millions of euros in cash along with gold bars. The incident has sparked a diplomatic dispute between the two neighboring countries.
According to Hungarian officials, the vehicles were stopped while passing through Hungary. Authorities reported finding around $40 million and €35 million in cash, along with approximately 9 kilograms of gold inside the convoy. Following the discovery, seven Ukrainian citizens traveling with the shipment were detained, and a formal money-laundering investigation has been launched.
Hungary’s National Tax and Customs Administration stated that one of the detained individuals was a former general from Ukraine’s intelligence services, raising further concerns among Hungarian authorities about the origin and purpose of the funds.
Ukraine has strongly denied any wrongdoing. Ukrainian Foreign Minister Andrii Sybiha accused Hungary of illegally confiscating the shipment and detaining Ukrainian citizens. He claimed the convoy belonged to Oschadbank, Ukraine’s state-owned savings bank, and said the money and gold were being transported between Austria and Ukraine as part of a routine transfer.
Due to ongoing restrictions on air travel in Ukraine during the war, the bank reportedly moved the shipment by road in armored vehicles.
However, Hungarian Prime Minister Viktor Orbán’s political director Balázs Orbán expressed skepticism about the explanation. He questioned why legitimate financial transfers would involve armored vehicles transporting large amounts of cash and gold across the country.
The controversy comes amid growing political tensions between the two countries. Hungary has recently clashed with Ukraine over energy issues and EU policy decisions related to the ongoing war with Russia. Budapest has also blocked additional European Union financial assistance to Kyiv, including a proposed €90 billion support package.
The dispute further escalated after Ukrainian President Volodymyr Zelenskyy made remarks criticizing Hungary’s stance, which Hungarian leaders interpreted as a threat. The comments have become a major topic in Hungarian domestic politics as the country prepares for national elections next month.
Hungarian officials have announced that the seven detained Ukrainian citizens may be expelled from the country, although authorities have not yet confirmed what will happen to the seized cash and gold while the investigation continues.
Political analysts say the incident could influence the upcoming Hungarian election, with both the government and opposition now addressing the diplomatic standoff.
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