Oil India has recovered over 91% of its $1 bn investment in Russia projects
New Delhi: Oil India has recovered over 91% of its $1 billion investment in Russia’s Vankorneft and Taas Yuryakh projects, receiving about $942 million in dividends, and expects full recovery in the coming financial year, its chairman and managing director (CMD) Ranjit Rath said.
Talking to reporters after the company’s annual general meeting on Thursday, Rath said that about $330 million worth of dividends are currently stuck in its bank accounts in Russia, which it expects to receive in the next fiscal year.
