Hungarian anti-terrorist agents raided two armored vehicles belonging to Ukraine’s Oschadbank on March 5th, seizing $82 million and gold, allegedly as part of a politically motivated operation.
Ukrainian Convoy Halt Aimed to Trigger Crisis, Sources Say
Hungary’s counter-terrorism agency raided two armored vehicles belonging to Ukraine’s state-owned Oschadbank on March 5th, which were transporting cash from Austria to Ukraine as part of a routine transfer. Seven bank employees were detained, and approximately $82 million in cash and gold were confiscated.
Four sources familiar with the operation informed VSquare that the goal was to create a diplomatic crisis between Hungary and Ukraine, potentially benefiting Prime Minister Viktor Orbán in the upcoming election campaign.
Zelensky’s Response Provided Orbán with ‘Lifeline’
VSquare noted that those responsible for the operation viewed it as a political success despite logistical issues and questionable legal grounds. The news of the detention reached Ukrainian President Volodymyr Zelenskyy, who subsequently made statements perceived by Hungary and the EU as a direct threat to Orbán.
Initial Plan Involved Alleged Weapons Smuggling
Hungarian agents had been monitoring courier shipments between Austria and Ukraine since at least early January 2026, with some surveillance conducted abroad. The initial plan, dubbed “Plan A,” involved intercepting a convoy allegedly carrying illegal weapons, providing a basis for linking the matter to terrorism or arms trafficking. A well-armed anti-terrorist unit, TEK, was assigned to the operation.
Operation Shifted to Money Laundering Investigation
The operation did not proceed as planned; documentation, financial transfers, and logistics were found to be legal, and neither the drivers nor guards were armed. Sources indicated there was no legal basis for the search, detention, interrogation without counsel, or expulsion of the Ukrainian personnel.
A contingency “Plan B” was quickly activated, directing the Hungarian tax authority NAV to launch an investigation into money laundering to provide legal cover for the operation. This reportedly caused tension within NAV, as the anti-money laundering unit was not consulted beforehand.
Detainees Held, Then Expelled
Bank employees were held for over 24 hours, often blindfolded and handcuffed, without a Ukrainian translator, before being deported to Ukraine and banned from entering the Schengen Area. The seized cargo remains in Hungary.
Allegations of Substance Use During Interrogation
The Guardian reported, citing its sources, that Hungarian officers injected an unidentified substance into one of the detainees during interrogation. Ukrainian security sources believe the substance was a truth serum, similar to methods used by the KGB. The substance caused the man to lose consciousness and require hospitalization.