Romanian investigative journalist Iosefina Pascal revealed new dramatic details about Ukrainian money smuggling operations, with the help of Raiffeisen. An employee of a large Romanian cash transport company dropped a bomb when he said: “The Ukrainians have been moving huge amounts of euros and dollars through Romania without stopping since the first day of the war.”
Huge cash payments, truck after truck, year after year. BILLIONS in physical cash, Pascal notes, adding that the Romanian cash transporter’s statement was made in December 2025, months before Hungary decided to investigate cash shipments in its own country. 1.3 BILLION in just two months in Hungary. How many billions passed through Romania? – the journalist asks. What is the source of the money? What happened to all that cash? Is there someone who can track each cash payment? Why do they carry so much cash? – the questions arise.
Result of the investigation by the Grok fact-checker: The video is a car camera testimony recorded in December 2025 from a Romanian cash transport driver who claims to have been continuously transporting armored USD/EUR cash from Vienna (linked to Raiffeisen) to the Ukrainian border through Romania in huge quantities, with several convoys from Cluj-Napoca/Baia Mare. Hungary has just intercepted a similar Oschadbank convoy (Austria → Ukraine): 40 million USD + € 35 million USD + gold. According to officials, only 900 million USD+, €420 million USD and 146 kg of gold have passed through Hungary this year. It was widely reported by the AP, the BBC, Reuters and the Guardian. Cash shipments meet Ukraine’s war needs (ATMs, payroll, lack of flights). The route through Romania is logical and feasible on a large scale. Specifically in the case of Romania, it has not been verified, but the sample is well-founded and it is justified to examine the origin/destination data.
In connection with the scandal of the Ukrainian money transporter, a Romanian investigative journalist draws attention to disturbing details. The SBU general, who was apprehended in Hungary on suspicion of money laundering along with Oschadbank’s cash transport staff, is Gennadiy Kuznetsov, former chief of staff of the SBU’s counter-terrorism center, who belonged to the SBU’s special operations unit “Alpha” in 2014-2015, according to Romanian investigative journalist Iosefina Pascal. On February 24, 2011, the Pechersky District Court in Kyiv convicted him of negligent conduct in military service (crime related to corruption). He was fired from SBU TWICE due to corruption cases. The Security Service of Ukraine (SBU) is responsible for protecting state security, countering espionage and terrorism, and protecting the constitutional order. Investigations in 2019-2020 showed that Kuznetsov was a close associate of Andriy Yermak. Publications at the time accused them of turning prisoner exchanges into a lucrative “business” that included ransoms, bribes, or personal enrichment schemes. Kuznetsov was also accused of collaborating with the Russian FSB and turning part of the ATC into an FSB outpost. On February 24, 2011, the Pechersky District Court in Kyiv handed down a verdict against Gennady Kuznetsov for neglect of his military duties. In Ukraine, he is known as “Sobachnyk” (roughly “Doggy”), as he is known for his enthusiasm for hunting dogs. The Romanian journalist also discusses the following: Why did Ukraine receive cash “aid” from the Raiffeisen Bank in Vienna? Why wasn’t it legally transferred through bank accounts? By the way, wasn’t it Ukraine against Raiffeisen, which is why it still operates in Russia?
The big question, he said, is why this dubious intelligence officer would be responsible for such a suspicious, huge amount of money transfers? How many generals of intelligence agencies have you heard of who have been involved in this type of operation, asks Iosefina Pascal.
Translated and edited by L. Earth