Hungary's $82 million bank transit swoop deepens spat with Ukraine
The Straits Times
BUDAPEST/KYIV, March 6 - Hungary said on Friday it had detained seven Ukrainians carrying around $82 million in cash and gold on suspicion of money laundering, as Kyiv accused Budapest of taking bank employees hostage amid a dispute over oil shipments. Read more at straitstimes.com.
BUDAPEST/KYIV, March 6 - Hungary said on Friday it had detained seven Ukrainians carrying around $82 million in cash and gold on suspicion of money laundering, as Kyiv accused Budapest of taking bank employees hostage amid a dispute over oil shipments.
The Hungarian Tax Authority's decision to have counter-terrorism forces swoop on two Ukrainian armoured vehicles transporting cash to Ukraine marks a dramatic escalation of tensions that have already resulted in Budapest blocking tens of billions of euros in European Union aid for Kyiv.
Video posted on the Hungarian government's Facebook account showed armed counter-terrorism officers jumping out of a van as the Ukrainian vehicles pulled into a service station, pointing their guns at the windscreen before handcuffing the people inside and forcing them to lie face down on the ground.
"The National Tax and Customs Administration (NAV) is pursuing criminal proceedings on suspicion of money laundering," the authority said in a statement.
"On March 5, 2026, it detained seven Ukrainian citizens, including a former Ukrainian intelligence service general, and two armoured cash-in-transit vehicles, which were transporting a total of $40 million, 35 million euros and nine kilograms of gold from Austria to Ukraine."
The tax authority said it was working together with counter-terrorism forces. Hungarian Foreign Minister Peter Szijjarto said Kyiv must provide answers regarding cash transits across Hungary.
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