Ukraine hails Hungary's closure of 'gold convoy' probe, demands accountability

Key facts

• Hungary closed its money laundering investigation into a Ukrainian bank convoy.
• The convoy, carrying $82 million in cash and gold, was seized in March.
• Ukraine's Oschadbank employees were briefly detained during the seizure.
• Kyiv had previously dismissed accusations and called the seizure 'state terrorism'.
• A Hungarian investigation found no crime had been committed.
• Ukraine is calling for accountability for those involved in the seizure.

Ukraine has praised Hungary's decision to close a money laundering investigation into a Ukrainian bank convoy that was seized earlier this year, while simultaneously calling for accountability for those involved.

Foreign Minister Andrii Sybiha stated on August 19 that Hungary's closure of the probe into the "gold convoy" was a positive development, but emphasized that "betting on anti-Ukrainian rhetoric for domestic gain yields nothing but political defeat and shame."

In March, Hungarian authorities seized two bank vehicles traveling from Austria to Ukraine, which were carrying approximately $82 million in cash and gold. The seizure prompted accusations of money laundering, and employees of Ukraine's state Oschadbank who were accompanying the shipment were briefly detained before their release.

Kyiv had vehemently dismissed the accusations at the time, condemning the seizure as "state terrorism."

Earlier, on June 17, Hungarian Prime Minister Peter Magyar had ordered an internal investigation into the government agencies involved in the scandal, which had strained relations between Hungary and Ukraine under former Prime Minister Viktor Orban.

The Hungarian Tax and Customs Administration subsequently concluded its investigation, determining that no crime had been committed. Media reports suggested that Orban had ordered the seizure for political reasons.

Sybiha urged that the developments in the case should "continue beyond public shame," demanding that "everyone involved in fabricating this sham and illegally detaining our people and state property must be held accountable."