Győr, Hungary – Antal Rogán, the Minister heading the Prime Minister’s Office, revealed startling figures regarding currency transfers into Ukraine during a public appearance in Győr on Monday, claiming the amount surpasses the total annual demand of Hungary’s largest bank. The revelation came during a discussion at a Mandiner Est event, where Rogán also addressed concerns about upcoming elections and communication breakdowns with Ukrainian intelligence services.
Rogán stated that a single shipment of currency recently intercepted amounted to more than Hungary’s largest bank requires for an entire year. He asserted that approximately $1 billion in currency has been transported towards Ukraine in the last two months alone. These claims, while significant, arrive amidst a broader context of ongoing financial flows between countries bordering the conflict zone and raise questions about the origin and purpose of these funds. The minister’s statements were made as he largely avoided directly addressing polling data regarding the upcoming elections, dismissing opposition research as “blatant lies.”
Currency Shipments and Intelligence Concerns
According to Rogán, the scale of these currency transfers is unprecedented. He indicated that the amount of euros and dollars involved in a single shipment exceeded anything previously observed. “The largest Hungarian bank requires less euro and dollar inflows throughout the entire year than this single shipment,” he stated, as reported by Telex. This assertion underscores the magnitude of financial activity occurring within the region.
Adding to the complexity, Rogán questioned the lack of communication between Hungarian and Ukrainian intelligence agencies. He noted that despite a three-year period of silence, Ukrainian authorities contacted their Hungarian counterparts immediately after the vehicles carrying the currency were intercepted by the National Tax and Customs Administration (NAV). “Why?” he asked, implying a potential motive behind the sudden outreach. This raises concerns about transparency and coordination in addressing cross-border financial movements.
These shipments have been occurring regularly since the start of the Russia-Ukraine war in 2022 and to a lesser extent before that, with over €4.3 billion worth of currency reaching Ukraine in 2021. In 2024 and 2025, that figure rose to approximately €15 and €13 billion respectively. Previously, these shipments were reportedly handled by a company linked to István Garancsi, a businessman with ties to Hungary’s governing circles.
Election Rhetoric and Russian Influence
The event also saw Rogán address the upcoming elections, though he refrained from offering specific predictions, stating he would only reveal his assessment a week before the vote. He criticized the opposition’s use of polling data, citing a Medián survey that reportedly showed a 20-percentage-point advantage for Tisza among committed voters. He dismissed these polls as “blatant lies,” echoing a common refrain from the governing Fidesz party.
When questioned about potential Russian interference in the Hungarian elections, Rogán dismissed it as “Russian fake news,” suggesting it was a tactic to divert attention from perceived threats posed by Ukraine and the currency shipments. This response followed a report by Direkt36, which detailed allegations that Russian military intelligence (GRU) had sent three individuals to Budapest to influence the election outcome, mirroring tactics used in Moldova’s 2024 presidential election. The Kisalföld reported that the national security committee acknowledged receiving warnings about potential Russian interference.
Escalating Tensions with Ukraine
Rogán also issued a veiled threat towards Ukraine, suggesting that Hungary could impede Ukraine’s access to electricity if Kyiv does not concede on issues related to the “blackmail and oil blockade” – referring to the situation surrounding the Druzhba oil pipeline. “If Ukraine does not relent… Hungary can also prevent Ukraine from accessing electricity, as it passes through our country,” he stated. This statement highlights the growing tensions between the two countries and the potential for further escalation.
The discussion at the Mandiner Est event was framed by the recent screening of “Baljós Közelség” (Ominous Proximity), a film focusing on the experiences of Hungarian minorities in Transcarpathia, particularly concerning forced conscription and corruption. Rogán subsequently focused his remarks on the responsibility of Ukrainian President Volodymyr Zelenskyy, while avoiding any discussion of Russian responsibility.
What to Watch Next
The revelations made by Rogán regarding the scale of currency transfers and the strained relationship with Ukrainian intelligence are likely to fuel further debate and scrutiny. The Hungarian government’s stance on the conflict in Ukraine, its energy security concerns, and the potential for external interference in domestic politics will remain key areas to watch in the coming weeks. The upcoming elections will undoubtedly be influenced by these issues, and the outcome will have significant implications for Hungary’s future trajectory.
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