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Hungary takes seven Ukrainian bank employees hostage and seizes valuables

Mar 6, 2026, 3:13 AM40
(Update: Mar 6, 2026, 5:49 PM)
country in Eastern Europe
country in Central Europe
country in Central Europe

Hungary takes seven Ukrainian bank employees hostage and seizes valuables

  • Seven employees of Ukraine's Oschadbank were detained in Hungary while transporting a large cash shipment.
  • The seized cargo included $80 million in cash and gold, with the whereabouts of the employees currently unknown.
  • The incident exacerbates existing tensions between Hungary and Ukraine over energy supplies and diplomatic relations.
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In Budapest, Hungary, Ukrainian officials have accused the Hungarian government of taking seven employees from the state-owned Oschadbank hostage while they were transporting a large cash shipment between Austria and Ukraine. The employees were in two armored vehicles carrying $80 million worth of cash, which included both U.S. dollars and euros, as well as 9 kilograms of gold. As of now, the whereabouts and well-being of the detained Ukrainians remain unknown. The incident has escalated tensions between Hungary and Ukraine, especially in the context of a broader dispute involving oil supplies from Russia. Ukrainian Foreign Minister Andrii Sybiha publicly condemned these actions, describing them as state terrorism and racketeering. He mentioned that a note had been sent to Hungarian authorities demanding the immediate release of both the employees and the seized valuables. Oschadbank has also demanded the return of its employees and cargo, stating that GPS data tracked their vehicles to Budapest, confirming their presence in the capital near a law enforcement agency prior to their detention. The Hungarian government has yet to comment on the issue, raising concerns over diplomatic relations. This incident highlights the complex relationship between Hungary and Ukraine, especially given Hungary's close ties to Russia amidst the ongoing conflict in Ukraine. Ukrainian President Volodymyr Zelensky has criticized Hungarian Prime Minister Viktor Orbán for previously blocking military aid to Ukraine, exacerbating an already tense situation. Recently, the two countries have been embroiled in a dispute over the Druzhba pipeline, which carries Russian oil through Ukrainian territory to Hungary. Hungary has accused Ukraine of deliberately delaying the resumption of oil supplies as a form of political leverage. As tensions rise, both nations are using political and financial strategies to negotiate their needs, with Hungary indicating it might retaliate against Ukraine's actions until full cooperation is achieved regarding oil shipments. The situation remains fluid, and the international community is watching closely how this incident might affect diplomatic relations in the region, particularly as Hungary relies on Russian oil while facing pressure from both the EU and Ukraine to show support for the latter's plight amid the ongoing war. The Ukrainian government has expressed its intention to escalate the issue to the European Union to address Hungary's actions.

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