Government Decree Gives Hungary’s Tax Authority 60 Days to Identify Intended Recipients of Intercepted Ukrainian “Gold Convoy”

Hungary’s National Tax and Customs Administration of Hungary has been granted sixty days to determine who may have been the intended recipients of a massive shipment of cash and gold seized earlier this month while being transported across Hungary by Ukrainian nationals. Under a newly issued government decree, the authority is also permitted to conduct covert intelligence gathering as part of the investigation. The decree further mandates an examination into whether any Hungarian criminal organization, terrorist group, or political party may have received a share of the funds—consisting of $40 million, €35 million, and nine kilograms of gold.

Ukraine summoned the Hungarian ambassador in Kyiv over the Ukrainian gold convoy (Photo: MTI/Government of Hungary)

On Monday, Mate Kocsis, parliamentary group leader of Fidesz, submitted a legislative proposal related to the case.

“Suspicious Ukrainian financial movements are taking place on Hungarian territory, and these must be clarified,” Kocsis wrote on social media. “To do so, we must provide additional tools to the tax authority.”

According to national security expert Jozsef Horvath, "the most likely explanation behind the so-called gold convoy could be an illegal arms deal".

“At least one-third of the weapons sent to Ukraine end up on the black market,” he told Magyar Nemzet. “It is possible that someone paid such a large sum for a shipment like that.”

He added that the missing funds are almost certainly being felt by someone.

Horvath also pointed to another factor: Hungary is heading toward parliamentary elections. In his view, it is obvious that both Brussels and Kyiv are interested in a change of government in Hungary.