ADVERTISEMENT

MOL unit reports late payment from Syrian business partner

Deals

Hungarian oil and gas company MOL on Monday said its Croatian unit INA announced on the Zagreb Stock Exchange that it had not received a monthly payment from a Syrian business partner that was due at the end of October.

"At this point, neither INA, nor MOL does not have appropriate basis, which would indicate the extent of non-payment of future receivables," MOL said.

"Current developments in Syria in the respect of the restrictive measures which have been imposed against Syria by EU could have an adverse effect on company’s business and operations in Syria," MOL said.

The EU banned the purchase, import and transport of oil and other petroleum products from Syria as well as the provision of financial or insurance services for such transactions at the beginning of September.

"INA will continue to closely monitor the developments relating to Syria and will provide the public with information on these developments," MOL said.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.