Hungary seizes millions of euros in cash and gold from Ukrainian convoy

"Hungarian officials said the detained Ukrainians had intelligence links and suggested the money could be of dubious origin, while Ukraine's foreign minister, Andriy Sybiha, accused Budapest of taking hostages and stealing money. Sybiha also accused the pro-Russian Hungarian president, Viktor Orban, of cooking up the scandal for political gain, ahead of Hungarian elections next month."

"Hungary's national tax and customs administration said it had opened a money-laundering investigation over the shipment, which it said was made up of $40m and 35m in cash, as well as 9kg of gold. It said one of those arrested was a former Ukrainian intelligence service general."

"Oschadbank, Ukraine's state savings bank, said its staff were transporting cash and gold between between Austria and Ukraine in a routine trip, carried out by land because of restrictions on air travel in Ukraine."

"The seizure follows a dispute over gas supplies, in which Hungary and Slovakia have accused Kyiv of deliberately stalling on repairs to an oil pipeline after it was hit in an apparent Russian drone attack. In response, Orban vetoed further EU sanctions on Russia as well as an additional 90bn loan for Ukraine."

Hungary's customs administration seized two armoured bank vehicles transporting $40 million, €35 million in cash, and 9 kilograms of gold belonging to Ukraine's state savings bank. Seven Ukrainian citizens were arrested, with Hungarian officials claiming intelligence links and questioning the money's legitimacy. Ukraine's foreign minister accused Hungary of hostage-taking and theft, attributing the incident to political motivations ahead of Hungarian elections. The seizure follows disputes over gas supplies and Hungary's blocking of EU sanctions on Russia and a €90 billion loan for Ukraine. Ukraine's president responded with apparent threats toward Hungary's leadership.

Read at www.theguardian.com