OVL using Russia dividend to meet local expenses
MUMBAI: ONGC Videsh Ltd is utilising dividend income of "less than $100 million", which is stuck in Russia due to western banking sanctions, to meet local and statutory expenses. "It is business as usual... OVL's share is less than $100 million. The money is deposited in banks there and we can use it for opex, capex or meeting other statutory expenses," company managing director Rajarshi Gupta said on Monday.
Tuesday, May 30, 2023 at 1:04 am