OVL using Russia dividend to meet local expenses
3 minute readPublished: Tuesday, May 30, 2023 at 1:04 am
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.