Banking curbs: OVL's $350mn dividend stuck in Russia

New Delhi: ONGC Videsh's $350 million dividend from Vankor field remains stuck in Russia due to banking curbs as a result of Western sanctions on Moscow, even as ONGC chairman Arun Kumar Singh said the group's refineries will continue to buy Russian oil.

OVL MD Rajarshi Gupta expected a resolution of the 'blockage', which has prevented the company from repatriating $600 million Sakhalin-I 'abandonment fund.'