Published by Global Banking & Finance Review®
Posted on March 9, 2026
3 min readLast updated: April 1, 2026
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Hungary’s Fidesz party has fast‑tracked a bill to let its tax authority retain cash and gold seized from Ukrainian armored vehicles for 60 days pending a money‑laundering probe, deepening tensions with Kyiv amid accusations of political maneuvering.
BUDAPEST, March 9 (Reuters) - Hungary's ruling Fidesz party has proposed that authorities hold onto cash and gold seized last week from two Ukrainian bank vehicles for two months pending an investigation.
Ukraine has accused Hungary of theft.
The proposal was submitted to parliament on Monday and could be voted through on Tuesday.
Relations between Budapest and Kyiv, already strained by Prime Minister Viktor Orban's close ties to Russia, hit a new low last week when Hungary detained seven Ukrainians, transporting around $82 million in cash and gold, on suspicion of money laundering.
Kyiv accused Budapest of taking bank employees engaged in a legitimate transfer hostage in order to put pressure on Ukraine to restart suspended oil shipments.
Hungary expelled the Ukrainians late on Friday but the cash and gold remain in Hungary. Orban said on Saturday that "we will deal with the fate of the seized money once we know what it is".
"We want to know what the Ukrainians are doing with this huge amount of money," Orban said at a campaign event for an April 12 parliamentary election where he is facing the biggest challenge to his rule in 16 years.
Ukrainian Foreign Minister Andrii Sybiha on Sunday demanded the immediate return of the cash and gold, calling Hungary's actions an "unprecedented act of state banditism and racketeering".
Sybiha said on Monday Hungary was caught up in "a spiral of lawlessness".
"Following their theft of Ukrainian state bank money, they are now putting forward a bill to 'legalise' the illegal seizure. This is de facto recognition that Hungary's actions lack any legal grounds," he said in a post on X.
Ukraine's Foreign Ministry on Monday summoned the Hungarian ambassador and criticised the "inadmissibility of applying intimidation and psychological pressure measures to Ukrainian citizens, as well as the excessive use of force".
The ministry said Ukrainian consular officials were not granted access to the detainees in violation of international law.
Ukraine also accused Hungary of violating the rights of its citizens by keeping them handcuffed for 28 hours, confiscating their belongings and not giving them proper medical care.
The bill submitted to Hungary's parliament proposes that the cash and gold remain in Hungary for a period of 60 days while the tax authority conducts "covert intelligence gathering" on the case.
The bill says the investigation needs to clarify the origin and destination of the assets as well as "the identity of the couriers and their possible links with criminal or terrorist organisations, as well as the consequences of the transport operation for Hungary's national security."
(Reporting by Krisztina Than and Anita Komuves in Budapest and Anna Pruchnicka in Gdansk; Editing by Kevin Liffey, Gareth Jones and Ron Popeski)
Hungary detained seven Ukrainians transporting $82 million in cash and gold on suspicion of money laundering, leading to the seizure.
The Fidesz-drafted bill would allow Hungary to hold the seized Ukrainian cash and gold for 60 days pending an investigation.
Ukraine has labeled the seizure as theft and state banditism, demanding the immediate return of the cash and gold.
Hungary's tax authority will conduct covert intelligence to clarify the assets' origin, destination, and the identity of couriers, including links to criminal or terrorist organizations.
The incident has further strained Hungary–Ukraine relations amid accusations of violating citizens' rights and exerting pressure on Ukraine.
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