An international arrest warrant has not been renewed for the head of Hungary's MOL oil and gas company, who is accused in the Republic of Croatia of bribery, MOL said on Nov. 18.

Zsolt Hernadi, MOL's CEO and chairman, has been indicted in Croatia for allegedly bribing former Croatian Prime Minister Ivo Sanader to allow MOL to have a dominant role in Croatia's energy firm, INA. MOL and the Croatian government are the biggest shareholders in INA.

MOL said in a statement that the decision by international police organization Interpol not to renew the warrant confirmed there was no wrongdoing.

"We have repeatedly rejected any suggestion of improper business conduct and we continue to view this case as politically motivated. We welcome the decision of Interpol, which was adopted following a comprehensive review of the case," MOL said.

Interpol said it does not comment on specific cases and referred requests for a comment to national authorities. The Croatian police were not available for an immediate comment.

According to Croatia's indictment, Sanader, who was the prime minister from 2004 to 2009, received 10 million euros (US$10.6 million) as a bribe from MOL.

Sanader also denied any wrongdoing, and Croatia's Constitutional Court ruled in 2015 that there must be a retrial due to procedural errors. Sanader was initially sentenced to 8 and a half years in prison. Due to health reasons, Sanader's renewed trial is currently on hold.

Sanader is the highest-ranking Croatian official tried for graft as part of the former Yugoslav republic's drive to strengthen the rule of law and join the EU, which it did in 2013.

Croatia's capital, Zagreb, and MOL have been at odds for years over management rights and investment strategy in INA. (US$1 = 0.9413 euros)