Hungarian authorities detained seven Ukrainian citizens in Budapest on Friday who reportedly transported a total of $40 million, €35 million, and 9 kilograms of gold from Austria to Ukraine. The seven Ukrainian nationals have since been expelled from Hungary.
The Hungarian government released a video and several photographs of the so-called ‘Ukrainian gold convoy operation’, showing the moment when Hungary’s National Tax and Customs Administration (NAV) detained the seven Ukrainian nationals and two armoured cash transport vehicles at a rest area along the M0 motorway.
According to available information, Hungarian authorities were surprised by the large amount of cash found with the Ukrainian men, who were reportedly wearing military tactical uniforms at the time of their detention.
Based on the investigation conducted by NAV, the background of the seven Ukrainian nationals was identified. The transport of cash and gold through Hungarian territory was reportedly supervised by a former general of the Ukrainian Defence Service, while his deputy was a former major in the Ukrainian Air Force. Their work was supported by individuals with military experience.
The Hungarian government is demanding an immediate response and explanation from Ukraine regarding the cash shipments transported through Hungary. According to Hungarian Minister for Foreign Affairs and Trade Péter Szijjártó, ‘the question legitimately arises whether this money belongs to the Ukrainian war mafia.’ The minister added that since January, Ukrainians have transported a total of $900 million and €420 million in cash through Hungary, as well as 146 kilograms of gold bars.
Following the incident, Ukraine’s Foreign Ministry warned Ukrainian citizens to avoid travelling to Hungary for the time being due to the seizure of the cash transport vehicles. In its statement, the ministry said it cannot currently guarantee the safety of Ukrainian citizens in Hungary and advised them, where possible, to choose alternative routes and avoid transiting through Hungary.
In another post on X, the foreign ministry said that the Ukrainian national police has opened criminal proceedings over the ‘hostage-taking’ of Ukrainian citizens and the ‘abduction’ of a service vehicle of Oschadbank in Hungary. ‘The case has been registered under articles on illegal deprivation of liberty/kidnapping and hostage-taking. Ukrainian police have filed official requests to Europol, Hungary’s tax and customs service, and Hungarian police,’ the statement said, adding that the investigation is ongoing.
Political Director of the Hungarian Prime Minister Balázs Orbán shared the news on his X page, raising serious questions about the background of the money and why it had to be transported in cash across Hungary instead of being transferred through normal banking channels.
‘Another crucial question arises: is this money merely passing through Hungary, or is it sometimes stopped here and potentially used on Hungarian soil—possibly in the interest of someone operating in Hungary?’ Orbán wrote, adding that Hungarian authorities are doing their job and conducting a thorough investigation.
‘When hundreds of millions in cash move across our country, the public has the right to know exactly whose money it is and what it is being used for,’ Orbán concluded.
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