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Oil India Ltd: One option being explored is loaning the money to entities buying oil from Russia, who would then repay the loan in India. Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia, making Russia the top crude oil supplier to India.
Indian oil companies are considering using around $600 million of their dividend income from Russia to buy oil from the country. Due to tough Western sanctions following Russia s invasion of Ukraine, the companies have been unable to repatriate their dividend income. One option being explored is loaning the money to entities buying oil from Russia, who would then repay the loan in India. Indian state oil firms have invested $5.46 billion in buying stakes in four different assets in Russia, making Russia the top crude oil supplier to India.
Russia does not intend to sell oil at any price just for the sake of volume, this principle is laid down in the reduction of the country s production in March