Oil India makes a splash in Russia, but won’t get its hand on the money just yet

Oil India Ltd reported a strong stream of dividends from its Russian investments, but said $330 million held in its Moscow account cannot be repatriated because of Western sanctions.

For policymakers and company watchers, OIL’s statement underlined two trade-offs in overseas resource deals: exposure to geopolitical and security risk, and exposure to the international financial system that enforces sanctions. While the company’s dividend receipts showed that its assets are producing value, the frozen transfers showed how external policy decisions can delay access to that value.