BUDAPEST, June 17 (Parliament Politics Magazine) – Hungary has officially launched an internal investigation into its tax authority, counter-terrorism forces, and various state agencies following the controversial seizure of a Ukrainian bank cash transport. This operation, which took place under the previous government, involved the interception of $82 million in cash and gold.
The incident occurred in March when seven Ukrainian employees transporting assets in two armored vehicles were detained by Hungarian special forces. The convoy, belonging to Ukraine’s state-owned Oschadbank, was executing a routine transfer that had been conducted weekly since the start of the conflict in Ukraine.
Following his recent election victory, Prime Minister Peter Magyar announced the probe and requested that the prosecutor general address the matter immediately. The investigation aims to determine the chain of command and the legal basis for the original seizure, which occurred while Viktor Orbán served as Prime Minister.
During the period of the interception, the government led by Orbán maintained a stance of skepticism regarding support for Kyiv. Reports indicate that the seizure was framed as a money-laundering investigation, though the assets were returned to Ukraine shortly before the inauguration of the current administration.
The Oschadbank operation was a standard financial procedure intended to move currency and precious metals between banking institutions. The detention of the bank staff and the subsequent freezing of assets created a significant diplomatic rift between the two neighboring nations.
Regarding the state’s current response, the government has prioritized transparency to address the actions of former officials. Prime Minister Magyar stated the prosecutor general must address the matter without delay.
The return of the $82 million in assets in early May marked a turning point in bilateral relations. While the financial cargo has been restored to its rightful owners, the current inquiry focuses on ensuring that state agencies operate within legal boundaries. Officials in both Budapest and Kyiv are now focused on resolving the aftermath of the event to normalize cooperation between the two countries.
