Speaking to CNBC from Budapest, Hernadi insisted the dispute over MOL's control of INA was not a "battle between countries" but about the company's corporate governance.
"Some people in the company and in the government want to see INA working with a state model which means the company working with short-term aims rather than the long-term ones - which is in a market model and which are essential," Hernadi said.
MOL holds a 49.1% stake in INA and the Croatian government 44.81%.
Croatia issued an Interpol Red Notice and a European Arrest Warrant for Hernadi on suspicion that he bribed former Croatian Prime Minister Ivo Sanader into giving MOL governance rights in INA.
Earlier this month, MOL authorised its executive board to launch preparations for selling its stake in INA, just hours after a negotiating round between Croatian government and MOL representatives on their relations in INA.