ECB reacts to Hungary's attack on Ukrainian cash-in-transit workers

European Central Bank President Christine Lagarde believes that the attack by Hungarian counter-terrorism special forces on Ukraine's Oschadbank cash-in-transit workers poses a threat to the EU's monetary stability.

Source: Lagarde's written response to a letter from National Bank of Ukraine Governor Andrii Pyshnyi, as reported by European Pravda

Details: The National Bank of Ukraine (NBU), in response to a request from European Pravda, stated that it can publicly disclose the response of one of the addressees of Pyshnyi's letters – namely, the head of the European Central Bank.

"Christine Lagarde sympathises with our arguments and underlines the risks of such a situation for the euro as an international currency," NBU Director of Communications Yuliia Yevtushenko told European Pravda.

Lagarde also provided written assurances to Ukraine of her intention to raise the matter with Brussels and in dialogue with Budapest.

"She promised to draw the attention of the European Commission president [Ursula von der Leyen] to the letter from the NBU, share her own concerns with her, and personally discuss the matter with Hungarian representatives," the NBU representative stated.

European Pravda does not yet have information on responses from the other addressees.

Background:

• On the night of 5-6 March, the National Bank of Ukraine reported that Hungarian authorities had seized Ukrainian cash-in-transit workers and a large sum of foreign currency. The NBU subsequently explained what it expects from EU institutions in the wake of the attack.
• The European Commission received the NBU governor's letter regarding Hungary's arbitrary actions but has not yet responded to it publicly.

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