Hungary FM Szijjártó claims Oschadbank cash convoy linked to “Ukrainian military mafia”

Szijjártó claimed that in recent months Ukrainians had moved “huge amounts of cash and gold” through Hungary — since January $900 million and €420 million in cash, plus 146 kilograms of gold bars.

“We have many serious questions. First, this is an enormous amount of cash, and the question arises why Ukrainians need to transport such large sums in cash. If these are really bank-to-bank transactions, then logically the question arises why banks do not carry out these operations through transfers, and why such large sums of money have to travel in cash,” he said.

Szijjártó also claimed that these shipments are “escorted by people who have clear ties to Ukrainian special services.”

“What are they using this money for? Whose money is it? We demand explanations whether this money is simply passing through Hungary, or whether sometimes it stops here and perhaps someone on Hungarian territory is using this money, or whether it is being used for someone’s benefit here. Logically the question arises whether this is not money of the Ukrainian military mafia,” the minister said.

Budapest demands “immediate answers and explanations” or threatens to conduct “the most thorough and in-depth investigation.”

National Bank of Ukraine Governor Andriy Pyshnyy announced that his deputy Oleksiy Shaban and the bank’s team are urgently traveling to Budapest to clarify the situation.

Ukraine, meanwhile, demands official information from Hungarian authorities about the reasons for detaining Oschadbank employees.

Background

Late on Thursday, Oschadbank reported that two of its cash-in-transit vehicles with seven crew members were “unreasonably detained” in Hungary.

GPS signals showed the vehicles’ location: they are now in central Budapest near one of Hungary’s security agencies. According to media reports, this refers to the closed territory of Hungary’s Counter-Terrorism Center.

The whereabouts of the crew members remain unknown.

Ukraine’s Foreign Minister Andrii Sybiha said Hungary has effectively “taken hostages and stolen money.”

The transport of funds and valuables was carried out under an agreement with Austria’s Raiffeisen Bank. Oschadbank declared that the cargo was documented in accordance with international transport rules and current European customs procedures.

Hungary’s Tax and Customs Administration stated that the basis for detaining the seven Ukrainians was suspicion of money laundering. Among the detained, is allegedly a retired general of a Ukrainian special service.

Sybiha said that as of Friday morning Ukrainian consuls have still not been allowed to see the seven Ukrainian citizens detained in Budapest. Meanwhile Hungarian media report that all seven have already been expelled from Hungary.

Ukraine sent an official note demanding the immediate release of Oschadbank employees. The country also plans to appeal to the European Union with a request for a “clear qualification of Hungary’s illegal actions, hostage-taking and robbery.”