Ukraine's National Bank advises avoiding "risky countries" after abduction of Ukrainian cash-in-transit guards in Hungary
The National Bank of Ukraine has recommended that banks carrying out cross-border transportation of valuables should adjust their routes and avoid travelling through countries where such shipments risk being disrupted.
Source: Andrii Pyshnyi, Head of the National Bank of Ukraine
Quote: "We have been in communication with all banks that carry out cross-border transportation of valuables. Our recommendation is to adjust their routes and rule out any travel through the territory of countries where there is a risk of shipments being blocked."
Details: Pyshnyi said the National Bank's position is clear: the regulator fully supports the actions taken by Oschadbank to protect its employees and secure the return of the foreign currency.
He noted that it has been standard practice to transport cash overland since Russia's large-scale invasion of Ukraine. Up until 2022, such operations were generally carried out by air.
Pyshnyi added that the volumes of foreign currency being transported by banks are also nothing out of the ordinary. Cash-in-transit vehicles make similar trips on behalf of Oschadbank and other banks every week.
Background:
- On the night of 5-6 March, Ukraine's Foreign Minister Andrii Sybiha reported that the Hungarian authorities had taken seven Ukrainian citizens who worked for Oschadbank hostage and seized money and valuables.
- A team from the National Bank of Ukraine is travelling to Budapest to clarify the situation regarding the detention of the Oschadbank cash-in-transit employees.
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