Oil India Seeks Repatriation of $300M Russian Dividend Amid Sanctions

State-run Oil India aims to recover a $300 million dividend for its stakes in Russian oil assets, held up in Moscow due to Western sanctions on Russian entities and banks. Chairman Ranjit Rath expressed confidence in finding a solution for the funds, which are currently held in the Moscow branch of State Bank of India. The company also announced plans to commission a 120,000 bpd crude unit at its Numaligarh Refinery by March and a 1,635-kilometre crude pipeline by late 2026. While the dividend issue highlights ongoing geopolitical tensions, its direct impact on global crude oil prices or Pakistan's currency and gold markets is expected to be limited.

بحوالہ / Source: www.brecorder.com