US says no ’red line’, but no rapid increase in India oil imports from Russia
2 years, 9 months ago

US says no ’red line’, but no rapid increase in India oil imports from Russia

Live Mint  

The United States will not set any "red line" for India on its energy imports from Russia but does not want to see a "rapid acceleration" in purchases, a top US official said on Thursday during a visit to New Delhi. Lured by steep discounts following Western sanctions on Russian entities, India has bought at least 13 million barrels of Russian crude oil since the country invaded Ukraine in late February. Reuters reported that Russia is offering India steep discounts on the direct sale of oil as mounting international pressure lowers the appetite for its barrels elsewhere following the invasion of Ukraine. Russia wants India to take 15 million barrels contracted for this year just to begin with, they said, adding the talks are taking place at government level.

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History of this topic

The role of India’s private sector in economic relations with Russia (1991-2024)
4 days, 18 hours ago

The role of India’s private sector in economic relations with Russia (1991-2024)

Hindustan Times  

India and Russia are showing an appetite for continued economic engagement. Russian President Vladimir Putin embraces Indian Prime Minister Narendra Modi during their meeting on the sidelines of the Brics Summit in Kazan, Russia In 2023, India’s trade with Russia was recorded at $65 billion, significantly higher than the $12.34 billion in 2022, and more than double the target of …

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions
1 week, 2 days ago

India’s petroleum exports plunge amid weak global demand, Red Sea disruptions

Live Mint  

New Delhi: Exports of petroleum products took a hit in November, weighed down by sluggish demand in developed economies, a rise in domestic consumption and a significant decline in cheap petroleum imports from Russia. Compounding the issue, India’s imports of Russian crude oil in November fell to their lowest levels since June 2022, according to a recent report from the …

Indian state refiners may buy Mideast spot oil to replace Russian shortfall
2 weeks, 3 days ago

Indian state refiners may buy Mideast spot oil to replace Russian shortfall

Live Mint  

* State refiners look to Middle East crude * Russian oil exports drop on domestic demand, OPEC * Three state refiners may tap stocks to cover processing in March By Nidhi Verma NEW DELHI, Dec 24 - Indian state refiners are considering tapping the Middle East crude market as spot supply from their top supplier Russia have fallen, three refining …

Middle East share of India’s Nov oil imports at 9-month high; Russia down
2 weeks, 4 days ago

Middle East share of India’s Nov oil imports at 9-month high; Russia down

Live Mint  

By Nidhi Verma NEW DELHI - India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. The world's third biggest oil importer and consumer in November shipped in 13% less Russia oil compared with October at 1.52 million barrels per day, …

Is India profiting from Russia-Ukraine War?
3 weeks, 5 days ago

Is India profiting from Russia-Ukraine War?

India Today  

What’s driving the fiercest battles across the globe? From the brutal trenches of Ukraine to NATO’s growing defence requirements, the artillery boom is reshaping the global defence landscape—and India is positioning itself at its very centre. Estonia’s Strategic Partnership with India Estonia, a NATO member that consistently meets its 2% defence spending target, is emerging as a key ally in …

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022
3 weeks, 5 days ago

India’s crude oil imports from Russia drop 55% in November, lowest since June 2022

Live Mint  

India's import of Russian crude dropped to its lowest level since June 2022 in November this year, reported the news agency PTI on Sunday, December 15, citing a Centre for Research on Energy and Clean Air report. “India's imports of Russian crude oil dropped by a massive 55 per cent in November - the lowest figure since June 2022,” the …

Rosneft, Reliance agree biggest ever India-Russia oil supply deal: Reports
4 weeks, 1 day ago

Rosneft, Reliance agree biggest ever India-Russia oil supply deal: Reports

Deccan Chronicle  

Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today's prices. The company declined …

Investing in India profitable: Putin says Russia will now 'Make in India', praises PM Modi's policies
1 month ago

Investing in India profitable: Putin says Russia will now 'Make in India', praises PM Modi's policies

Firstpost  

Russia President Vladimir Putin informed that his country will soon set up manufacturing plants across India. He also praised Prime Minister Narendra Modi for his ‘India-first’ policies and ‘Make in India’ initiative President Vladimir Putin believes that investing in India is “profitable” and announced that Russia is now ready to set up its manufacturing operation in India. Putin also praised …

Exclusive-Rising costs squeeze intermediaries out of thriving Russian oil trade with India
1 month ago

Exclusive-Rising costs squeeze intermediaries out of thriving Russian oil trade with India

Live Mint  

By Nidhi Verma NEW DELHI/MOSCOW - Three trading houses have become dominant sellers of Russian oil to India as many smaller players dropped out of the business due to high funding costs in Russia and lack of access to Western funds, according to data and six trading sources. Traders such as Dubai-based Starex Trading and Pontus Trading, which were large …

Saudi Arabia boosts crude oil share in Asia at Russia’s expense: Russell
1 month, 1 week ago

Saudi Arabia boosts crude oil share in Asia at Russia’s expense: Russell

Live Mint  

By Clyde Russell LAUNCESTON, Australia, - Saudi Arabia clawed back market share of Asia's crude oil imports in November, while Russia surrendered some of its barrels in what may be an early sign of a shift in market dynamics. Asia's imports from Saudi Arabia, the world's biggest crude exporter, rose to 5.83 million barrels per day in November, up from …

Trade on track: Russia looks up to India for train manufacturing to meet domestic demand
1 month, 2 weeks ago

Trade on track: Russia looks up to India for train manufacturing to meet domestic demand

Firstpost  

Russia is seeking to invest in and expand the manufacturing of trains as well as their components in India to meet its growing domestic demand Russia eyes to deepen its trade ties with India — one of the top economies still in robust trade with the country after its President Vladimir Putin ordered the invasion of Ukraine 36 months ago. …

Russia wants to become the second-largest oil producer in the world
1 month, 3 weeks ago

Russia wants to become the second-largest oil producer in the world

China Daily  

Russia is reportedly considering a major oil-sector shakeup by merging three of its largest oil companies: state-backed Rosneft and Gazprom Neft and privately-held Lukoil. Notably, the consolidation could allow Russia to command higher prices for crude oil exports to major buyers like India and China. This shift is driven by Russia’s substantial discounts on crude oil, which have made it …

India to achieve $100-billion trade with Russia well before 2030 target: Jaishankar
Trending News
1 month, 4 weeks ago

India to achieve $100-billion trade with Russia well before 2030 target: Jaishankar

Hindustan Times  

India is confident of achieving commerce worth $100 billion with Russia before the target date of 2030 though the two sides need to address constraints to ensure trade is more balanced, external affairs minister S Jaishankar said on Tuesday. The two sides have seen “perceptible progress” in tackling challenges to trade, especially issues related to payments and logistics, but there …

India-Russia trade reaching $100 bn by 2030 more than realistic, says Jaishankar
Top News
1 month, 4 weeks ago

India-Russia trade reaching $100 bn by 2030 more than realistic, says Jaishankar

Firstpost  

External Affairs Minister S Jaishankar said India-Russia trade today is at $66 billion and ’this makes the goal of reaching $100 billion by 2030 more than realistic' External Affairs Minister S Jaishankar and Russia's First Deputy Prime Minister Denis Manturov at the India-Russia Business Forum, Mumbai, on November 11, 2024. Source: X | @DrSJaishankar India-Russia trade currently is at $66 …

Russian oil finds its way to Europe via India; India now biggest exporter of fuel to EU
2 months ago

Russian oil finds its way to Europe via India; India now biggest exporter of fuel to EU

The Hindu  

India's export of fuels like diesel to the European Union jumped 58% in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. "In the 13 months since the oil price cap took effect, over one-third of India's exports of oil products to sanctioning countries was …

‘India did entire world a favour’: Hardeep Singh Puri on India’s stance to buy Russian oil, ‘if we had not done so…’
2 months ago

‘India did entire world a favour’: Hardeep Singh Puri on India’s stance to buy Russian oil, ‘if we had not done so…’

Live Mint  

Union Petroleum and Natural Gas minister Hardeep Singh Puri said that India's decision to buy oil from Russia amid global uncertainties helped prevent a potential spike in global oil prices. In an interview with CNN's Becky Anderson in Abu Dhabi, Union minister Puri explained that if the Indian government hadn't bought Russian oil, global oil price would have gone up …

'India did the entire world a favour': Union Minister Puri on India's stance to buy Russian oil
2 months ago

'India did the entire world a favour': Union Minister Puri on India's stance to buy Russian oil

New Indian Express  

India's decision to purchase oil from Russia amidst global uncertainties has played a crucial role in preventing a potential spike in global oil prices, said Union Petroleum and Natural Gas Minister Hardeep Singh Puri. In an interview with CNN's Becky Anderson on the sidelines of the annual ADIPEC energy industry event in Abu Dhabi, the Union Minister stated that without …

Russia raises estimates for oil and gas export sales
4 months ago

Russia raises estimates for oil and gas export sales

Live Mint  

Sept 6 - Russia's economy ministry revised up its forecasts for export sales of oil and gas, key sources of budget revenue, by $17.4 billion from a previous estimate to $239.7 billion this year thanks to a more positive price outlook, a document seen by Reuters showed. Following is a table of the ministry's key updated forecasts. Previous estimates made …

India seeks to boost exports to Russia after Modi's visit
5 months, 3 weeks ago

India seeks to boost exports to Russia after Modi's visit

Hindustan Times  

India is exploring ways to boost its exports to Russia, including by encouraging rupee-rouble trade and pushing Moscow to lift non-tariff barriers, New Delhi said on Monday, in the wake of Prime Minister Narendra Modi's visit to Moscow. Prime Minister Narendra Modi exchanges greetings with Russian President Vladimir Putin after receiving the Order of St Andrew the Apostle the First-Called, …

Russia in talks for developing six more nuclear power units in India amid PM Modi's visit: Report
6 months ago

Russia in talks for developing six more nuclear power units in India amid PM Modi's visit: Report

India TV News  

PM Modi's Russia visit: Prime Minister Narendra Modi's high-profile bilateral visit saw numerous agreements across several critical areas, including trade, climate change, and research. Russian state nuclear corporation Rosatom said it was discussing building six more nuclear power units in India; the Russian Direct Investment Fund inked pharma, shipbuilding and education agreements; and Russia's second-largest bank spoke of efforts to …

Putin hosts India’s prime minister to deepen ties, but Ukraine looms over their relationship
6 months ago

Putin hosts India’s prime minister to deepen ties, but Ukraine looms over their relationship

Associated Press  

Indian Prime Minister Narendra Modi met President Vladimir Putin in Moscow on Tuesday, seeking to deepen the relationship between the two nuclear powers at a time when NATO leaders gathered in Washington and Russia launched deadly missile attacks in Ukraine that hit a children’s hospital. “Our relationship is one of a particularly privileged strategic partnership,” Putin told Modi, who made …

What lies behind arms talks between India’s Modi and Russia’s Putin?
6 months ago

What lies behind arms talks between India’s Modi and Russia’s Putin?

Al Jazeera  

Russia and India have a long history of collaborating on defence. India’s prime minister, Narendra Modi, is making his first visit to Russia since the invasion of Ukraine to discuss issues that include defence and weapons deals. The support would be practical but would stop short of India publicly backing Russia’s war effort. A day before Modi left for Moscow …

Build your plants in Russia, Moscow tells Indian drugmakers
7 months ago

Build your plants in Russia, Moscow tells Indian drugmakers

Live Mint  

New Delhi: Sanctions-hit Russia is looking to India for drug security at a time of shortages triggered by its war in Ukraine, a government official aware of the matter said. Moscow has proposed financial support for Indian companies ready to build facilities in Russia, and is seeking higher pharmaceutical exports from India to meet domestic demand, the official said on …

EAM Jaishankar Says India’s spike in trade with Russia not a ‘temporary phenomenon
7 months, 3 weeks ago

EAM Jaishankar Says India’s spike in trade with Russia not a ‘temporary phenomenon

The Hindu  

India's rise in trade with Russia should not be seen as a "temporary phenomenon" as more economic opportunities are emerging, India's Foreign Minister said on Friday. India and Russia have a close relationship stretching back decades, and New Delhi has refused to condemn Moscow over its February 2022 invasion of Ukraine, urging the two sides to end the conflict through …

Chabahar: India’s Balancing Act Against China, West Asia and the West
7 months, 3 weeks ago

Chabahar: India’s Balancing Act Against China, West Asia and the West

News 18  

Geostrategy is increasingly becoming a process of increasing a nation’s options. While Russia has been encountering sanctions from Western Europe and the US ever since the war with Ukraine, Iran has endured them for far longer. The US, Israel and others in West Asia are aware of India’s cordial relationship with Iran. India’s sea and land route via Chabahar in …

India saved USD 13 billion by importing discounted Russian crude
8 months, 1 week ago

India saved USD 13 billion by importing discounted Russian crude

New Indian Express  

NEW DELHI: India has saved around $13 billion by importing discounted crude oil from Russia in the past two years, according to a study by ICRA, the rating agency. According to energy cargo tracker Vortexa, India received 1.36 million barrels of crude oil per day from Russia in March 2024, compared to 1.27 million barrels per day in February 2024. …

No sanctions against India for purchasing, refining Russian oil: U.S. Treasury officials
9 months ago

No sanctions against India for purchasing, refining Russian oil: U.S. Treasury officials

The Hindu  

April 04, 2024 07:55 pm | Updated 09:51 pm IST - NEW DELHI Striking a conciliatory note on India’s imports of Russian oil, U.S. Treasury department officials visiting Delhi said on April 4 that the aim of U.S. sanctions and the oil “price cap” was not to limit the purchase of Russian ‘Ural’ oil, but to limit the revenues made …

US has not asked India to reduce Russian oil imports: Officials
9 months ago

US has not asked India to reduce Russian oil imports: Officials

Hindustan Times  

NEW DELHI: The US has not asked India to reduce its imports of Russian oil and the price cap and sanctions regime imposed by the G7 are aimed at squeezing Moscow’s profits from crude sales and impeding its ability to finance the war in Ukraine, two US officials said on Thursday. Russian oil is priced above $60 a barrel The …

US to tell event in India that price cap on Russian oil working
9 months, 1 week ago

US to tell event in India that price cap on Russian oil working

Hindustan Times  

The G7 price cap on Russian oil shipments is cutting the revenue that Moscow has available to support its invasion of Ukraine, and the mechanism's effectiveness is helped by the recent actions of Indian refiners, U.S. officials will tell an event in New Delhi on Thursday, according to prepared remarks. "We know that the Indian economy has much at stake …

Russian Ukraine conflict: CNN claims India is helping Putin get richer. Here's how it is wrong
10 months ago

Russian Ukraine conflict: CNN claims India is helping Putin get richer. Here's how it is wrong

Op India  

The Russian oil industry is “booming despite war, sanctions” and CNN is livid with disbelief, to put it mildly. They have demanded to “close the “refining loophole”, which allows EU and G7 countries to import oil products — mainly diesel, jet fuel and gasoline — produced from Russian oil at refineries in third countries like India, Turkey or UAE.” India …

’My friend...’: Russian FM lauds Jaishankar’s response on oil import
10 months ago

’My friend...’: Russian FM lauds Jaishankar’s response on oil import

Live Mint  

Russian foreign minister Sergey Lavrov has praised an old remark made by India's External Affairs Minister S Jaishankar at the United Nations. Lavrov at the World Youth Forum in Russia's Sochi called Jaishankar "My friend" and heaped praises on the Indian minister for navigating bilateral ties between New Delhi and Moscow amid the Ukraine war. Russian oil import According to …

‘My friend, S Jaishankar…’: Sergey Lavrov lauds EAM over Russian oil imports statement
10 months ago

‘My friend, S Jaishankar…’: Sergey Lavrov lauds EAM over Russian oil imports statement

Hindustan Times  

Russian foreign minister Sergey Lavrov has lauded external affairs minister S Jaishankar for navigating bilateral ties between New Delhi and Moscow amid the Ukraine war and recalled how his Indian counterpart responded when Western pundits demanded to know why India still aligned with his country. Sergey Lavrov was addressing the World Youth Forum in the Russian city of Sochi where …

‘Russia never hurt our interests’: Jaishankar defends India’s ties with Moscow
10 months, 3 weeks ago

‘Russia never hurt our interests’: Jaishankar defends India’s ties with Moscow

Live Mint  

External Affairs Minister S Jaishankar, in an interview with a German economic daily, Handelsblatt, has said that many Western countries used to supply arms to Pakistan and not India, adding that the trend has changed in the past decade. Jaishankar reaffirmed India's "stable and friendly ties" with Russia and said Moscow has never hurt the interests of New Delhi. On …

Petroleum exports drop sharply as West tightens squeeze on Russia
10 months, 3 weeks ago

Petroleum exports drop sharply as West tightens squeeze on Russia

Live Mint  

NEW DELHI: Earnings from petroleum shipments fell steeply in April-January FY24 due to the global economic slowdown, a rise in domestic consumption, and shrinking discounts on Russian oil. According to data from the government’s Niryat portal, earnings from exports of chemicals and petroleum products stood at $67.11 billion in the April-January FY24 period, down 11.29% from $75.65 billion in the …

No disruption in oil flows to India, only freight up: HPCL head
11 months, 1 week ago

No disruption in oil flows to India, only freight up: HPCL head

The Hindu  

The ongoing attacks on shipping vessels by Houthi militants in the Red Sea have not impacted the flow of crude oil to India but freight has gone up due to rerouting via the Cape of Good Hope, Hindustan Petroleum Corporation Limited Chairman Pushp Kumar Joshi said. OPINION | The larger message to New Delhi from the Red Sea In a …

Europe buying Russian oil via India at record rates in 2023 despite Ukraine war
11 months, 4 weeks ago

Europe buying Russian oil via India at record rates in 2023 despite Ukraine war

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. India became the world’s leading importer of Russian crude …

Fear of sanctions keeps SBI off Russian oil deals
11 months, 4 weeks ago

Fear of sanctions keeps SBI off Russian oil deals

Live Mint  

NEW DELHI : State Bank of India has long avoided payment transactions for Russian oil bought by state-run refiners to avert US sanctions that came into force on 5 December 2022, two people aware of the matter said. Mint also reported about India’s largest lender requesting data on purchasing prices from refiners such as Indian Oil Corp. Ltd, Bharat Petroleum …

India reduces import of Russian crude oil over pricing
11 months, 4 weeks ago

India reduces import of Russian crude oil over pricing

Hindustan Times  

Indian refiners have significantly cut Russian crude imports and plan to further decrease shipments from the sanctions-hit country after Moscow steeply reduced discounts from about $10 a barrel to around $2 in recent months, at least four people directly aware of the development said. Indian oil companies have decided to cut crude imports from Russia because of only one reason, …

Why India's oil purchase from Russia declined: Hardeep Singh Puri explains
1 year ago

Why India's oil purchase from Russia declined: Hardeep Singh Puri explains

Hindustan Times  

Union minister of petroleum and natural gas Hardeep Singh Puri said crude oil supply in India from Russia has not dropped because of the payment-related issues. Union Minister of Petroleum and Natural Gas Hardeep Singh Puri India is one of the largest importers of crude oil in the world, but its imports from Russia significantly decreased over the past few …

'No payment problem': Hardeep Singh Puri on declining oil imports from Russia
1 year ago

'No payment problem': Hardeep Singh Puri on declining oil imports from Russia

India Today  

The reduction in India's oil imports from Russia is primarily due to unattractive prices and not any payment issues, clarified Minister of Petroleum and Natural Gas Hardeep Singh Puri on Wednesday. He mentioned that, on average, India purchases 1.5 million barrels per day of Russian oil, and there have been no complaints from oil companies about facing payment settlement issues …

The dominant dollar faces a backlash in the oil market
1 year ago

The dominant dollar faces a backlash in the oil market

Live Mint  

Some major emerging economies are dabbling in trading commodities without using the dollar, as they seek to reduce their reliance on the U.S. currency. And in November, Saudi Arabia and China set up a roughly $7 billion currency-swap line, which the Chinese central bank said would strengthen financial ties and expand the use of local currencies. The tight links between …

In Moscow to meet Putin and Lavrov, India’s foreign minister praises growing trade
1 year ago

In Moscow to meet Putin and Lavrov, India’s foreign minister praises growing trade

Associated Press  

MOSCOW — India’s foreign minister met Wednesday with Russian President Vladimir Putin, who said relations between the countries are progressing even amid turbulent times. At the start of the meeting, Putin said he would inform the Indian diplomat about the fighting in Ukraine, on which Indian Prime Minister Narendra Modi has held a neutral stance. “I know about his desire …

At Jaishankar, Sergey Lavrov meeting, a push to expand export of Russian energy
1 year ago

At Jaishankar, Sergey Lavrov meeting, a push to expand export of Russian energy

Hindustan Times  

NEW DELHI: India and Russia on Wednesday agreed to explore ways to expand the export of Russian energy, including oil and coal, to Indian markets as external affairs minister S Jaishankar and his counterpart Sergey Lavrov charted a course for future cooperation between the two countries. Jaishankar said Russian supplies of energy, coking coal and fertilisers were “very big components” …

Russia minister says oil supplies to India increased to 40 percent since Ukraine war
1 year ago

Russia minister says oil supplies to India increased to 40 percent since Ukraine war

Hindustan Times  

Moscow: Russia's deputy prime minister Alexander Novak said on Wednesday his country has redirected most its oil supplies towards India and China after the West enforced economic sanctions against it over the Ukraine war. "China -- whose share has grown to 45-50 percent -- and India have become our main partners in the current situation," Novak was quoted as saying …

The turning tides of US sanctions: India caught between a rock and a hard place
1 year ago

The turning tides of US sanctions: India caught between a rock and a hard place

Live Mint  

The recent escalation of US sanctions against Russia seems to have significant consequences for the Indian market. In the context of the US' secondary sanctions targeting Russia, India too can resort to such countermeasures to provide an avenue of insulation for its fiscal priorities and market interests. Forms of countermeasures Bilateral negotiations and conditional waivers The US government can authorize …

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC
1 year, 1 month ago

India's crude oil output up 1.3% to 2.5 MMT in October, imports rise after four months of declines: PPAC

Live Mint  

India produced a total of 2.5 million metric tonnes of crude oil in October 2023 - registering a growth of 1.3 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell. According to PPAC data, crude oil imports increased by 2.2 per cent and by 0.6 per cent during October 2023 and April-October 2023 respectively, compared …

US newly sanctioned tankers shipped Russian oil to India
1 year, 1 month ago

US newly sanctioned tankers shipped Russian oil to India

Firstpost  

In the short-term, sanctions may reduce the number of ships carrying Russian oil and prompt India to seek supplies elsewhere, but they are unlikely to stop the trade altogether due to its lucrative nature, several traders who declined to be named, said. Three oil tankers, recently sanctioned by Washington, have regularly transported Sokol crude from Russia’s Far East to Indian …

Ascent of yuan in India’s indirect trade with Russia
1 year, 2 months ago

Ascent of yuan in India’s indirect trade with Russia

Live Mint  

NEW DELHI : India’s trade with Russia in yuan is gathering pace as Russian exporters prefer being paid in the Chinese currency, two people close to the matter said. Russian exporters trading with India through Singapore and Dubai prefer the Chinese currency with greater global acceptance, one of the two people said on condition of anonymity. On 15 January, Mint …

US checks if foreign banks followed cap on Russia oil
1 year, 2 months ago

US checks if foreign banks followed cap on Russia oil

Live Mint  

A US government office is checking whether foreign banks operating in the US conformed to the G7 price cap of $60 a barrel for Russian oil, a person aware of the matter said. The US treasury department’s Office of Foreign Assets Control has sought details of Russian oil purchases by including those by Indian entities in the last few months, …

OIL explores options to bring back millions stuck in Russia
1 year, 3 months ago

OIL explores options to bring back millions stuck in Russia

Live Mint  

NEW DELHI : Oil India Ltd has appointed legal and tax consultants to explore ways to repatriate its $150 million in dividend stuck in Russia, the state-run firm’s chairman and managing director Ranjit Rath said. Mint has reported that OVL, Bharat Petroresources Ltd, Indian Oil Corp, and Oil India Ltd have around $400 million in stuck dividend payments from from …

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