The European Union's sanctions against Syria don't pose an immediate obstacle to the petroleum operations of Croatian refiner INA-Industrije Nafte D.D. (INA.ZG), managed by Hungarian oil and gas firm MOL Nyrt. (MOL.BU).

INA has an active upstream business in Syria, as well as in other countries.

INA is monitoring the situation in Syria and will inform the public about developments, it said Tuesday in a release.

The European Council decided Friday to further tighten the EU's sanctions against Syria, and imposed a ban on Syrian oil imports to the EU.

-By Veronika Gulyas, Dow Jones Newswires; +361-267-0623; veronika.gulyas@dowjones.com