Mol won the lawsuit against Croatia, which is being held before the arbitration court in Washington, Vecernji list reports. Several sources confirmed the information to the Croatian newspaper.

reviewed by Vg.hu, based on the verdict, the Hungarian oil company can expect compensation of 250-300 million dollars - 100-120 billion HUF at the current exchange rate - including interest.

This is significantly less than the $1 billion claim that Mol originally made against the Croatian government.

According to information from Vecernji list, the International Center for the Settlement of Investment Disputes (ICSID) also rejected Croatia's corruption accusations, which, according to the assumption that Mol had obtained management rights over the Croatian oil company INA with a bribe. Former Croatian Prime Minister Ivo Sanader was sentenced to six years in prison in Croatia, and the head of Mol, Zsolt Hernádi, was sentenced to two years by the Croatian judiciary. Last October, the first-degree conviction of the Zagreb County Court was also upheld by the local Supreme Court, against which Hernádi appealed to the Croatian Constitutional Court .

the court's website did not include the verdict and the reasoning, only the date of the verdict was announced yesterday, i.e. July 5. Vg.hu contacted Mol regarding the matter, and we will publish their reaction later.

The article recalled that at the end of 2013, Mol initiated international arbitration proceedings against the Croatian government to protect its investments in Croatia by the ICSID in Washington, claiming that the Zagreb government had failed to fulfill certain contractual obligations and commitments.

This is the second arbitration case that Croatia has lost against the Mol. The first was in Switzerland before the UN Commission on International Trade Law (UNCITRAL), initiated by Zoran Milanovic's government in 2014 in response to Mol's suit in Washington. In the proceedings concluded in December 2016, the Hungarian side received EUR 14.5 million in compensation from Croatia.

Mol acquired the first 25 percent in INA in 2003, then bought another 22.15 percent at the end of 2008, and agreed with the Croatian government on taking over control. Mol subsequently bought additional shares on the market and now has a 49.08 percent stake in the company.

The full article of Magyar Nemzet can be read here.

Picture: Árpád Kurucz