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Oil India explores ways to get back Russian dividend
NEW DELHI: Oil India is exploring ways to repatriate a $300 million dividend for its stake in two Russian assets which is stranded in Moscow, its chairman Ranjit Rath told shareholders on Thursday. State-run explorer Oil India, along with Indian Oil Corp and Bharat PetroResources, holds a 23.9% participating interest in JSC Vankorneft and a 29.9% stake in Tass Yuryakh Neftegazodobycha. “It is only a matter of time. We will be able to find a solution to transfer the amount,” Rath said, adding the dividend is in the Moscow branch of State Bank of India. The dividend is stuck because of western s...
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