Bloomberg News

Mol Losing $60 Million a Month on Syria Sanctions, Hernadi Says

July 30, 2012

Mol Nyrt., Hungary’s largest refiner, is losing about $60 million a month on Syria after the company’s Croatian unit, INA Industrija Nafte d.d., had to pull out of the country to comply with European Union sanctions, according to Mol Chairman Zsolt Hernadi.

“We hope the political situation will stabilize and that we can return,” Hernadi told commercial radio station Inforadio in an interview today. “We can go back immediately after the political situation stabilizes and sanctions are lifted.”

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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