Ukraine Calls on Hungary to Release Seized Funds, Gold

(MENAFN) A Ukrainian state-owned financial institution is calling on Hungary to return tens of millions of dollars and gold bars that were confiscated from an armored convoy, which Hungarian authorities claim may be linked to what they have described as a “Ukraine war mafia.”

This latest financial standoff is intensifying already strained relations between the two nations, which have been at odds over issues such as Russian oil imports, sanctions, financial assistance to Kyiv, and the drafting of ethnic Hungarians into Ukraine’s armed forces—a matter that recently led Ukrainian President Vladimir Zelensky to issue a direct warning to Hungarian Prime Minister Viktor Orban.

Earlier this week, Hungarian law enforcement intercepted two armored trucks carrying roughly $80 million in US dollars and euros, along with nine kilograms of gold, on allegations of money laundering. Seven Ukrainian citizens traveling with the convoy were detained before eventually being deported.

In response, Ukraine’s Oschadbank issued a statement on Sunday demanding the restitution of the assets, which it labeled “illegally seized.” The bank explained that the funds had been deposited by Ukrainian individuals and businesses and were in transit from its Austrian partner, Raiffeisen Bank, as part of a standard transfer process.

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