new delhi, as much as usd 300 million (about rs 2,500 crore) of dividend income belonging to indian oil firms is stuck in russia due to tough western sanctions following moscow’s invasion of ukraine, a top official said on thu
The Indian bank in Russia where the money is parked is understood to be the Commercial Indo Bank (CIBL). CIBL used to be a joint-venture of SBI and Canara Bank, but the latter recently sold its stake in the venture to SBI
As much as $300 million (about Rs 2,500 crore) of dividend income belonging to Indian oil firms is stuck in Russia due to tough Western sanctions following Moscow's invasion of Ukraine, a top official said on Thursday. Indian state oil firms have invested $5.46 billion in buying stakes in four different assets in Russia. These include a 49.9 per cent stake in the Vankorneft