Hungarian Prime Minister Viktor Orbán ordered that a shipment of $82 million in Ukrainian cash and gold seized last week be held for up to 60 days while authorities investigate the case. The seizure, which included $40 million, €35 million, and 19.8 pounds of gold, has sparked outrage from Ukrainian authorities who accuse Hungary's Russia-friendly government of acting illegally.
Key Takeaways
Hungarian Prime Minister Viktor Orbán ordered that $82 million in seized Ukrainian cash and gold be held for up to 60 days pending an investigation. The seizure has sparked outrage from Ukraine, which accuses Hungary of acting illegally.
- Hungarian authorities seized $40 million, €35 million, and 19.8 pounds of gold from a Ukrainian bank shipment
- Orbán's decree tasks the National Tax and Customs Administration to investigate the origin and intended use of the assets
- Ukrainian Foreign Minister Andrii Sybiha accused Hungary of "falling down a spiral of lawlessness"
- The seizure has escalated tensions between Hungary and Ukraine ahead of an upcoming election
The shipment was being transported through Hungary by road when it was seized last Thursday. Hungarian authorities said they suspected money laundering, while Kyiv maintained it was a routine transfer of assets between state banks. Video released by Hungary’s Counter Terrorism Center showed masked commandos arresting seven employees of the Ukrainian state-owned Oschadbank.
The bank employees were held for over 24 hours and then expelled from Hungary late Friday. Orbán's decree tasks the National Tax and Customs Administration to determine the origin, destination, and intended use of the shipment, as well as the identity of the seven expelled Ukrainians "and their possible links to criminal or terrorist organizations."
Ukrainian Foreign Minister Andrii Sybiha said on social media late Monday that Hungary was "falling down a spiral of lawlessness," and accused Orbán’s government of seeking to "‘legalize’ the illegal seizure." The decree has raised suspicions that Orbán's primary political opponent, Péter Magyar, and his Tisza party could be drawn into the investigation.
The seizure comes as Orbán faces an unprecedented challenge from a center-right opponent in an election just a month away. In recent weeks, he has escalated an aggressive anti-Ukraine campaign, calling Ukraine Hungary’s "enemy," and claiming that if he loses the vote, Hungary will be forced into bankruptcy and Hungarian youth will be sent to their death on the front lines.
In a further escalation of tensions with Kyiv, Hungary’s parliament passed a resolution giving the government the green light to oppose Ukraine’s path to joining the European Union and reject any initiatives to supply Ukraine with weapons or funding.
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