ONGC hopes to recover over $500 mn dividend as Venezuela sanctions eased
India’s Oil and Natural Gas Corp hopes to recover over $500 million in dividends pending since 2014 for its stake in Venezuelan projects as sanctions on the nation were eased, a source said on Thursday.
The source declined to be named due to sensitivity of the matter.
The Biden administration on Wednesday eased sanctions on Venezuela’s oil sector after the government and opposition parties reached a deal for the 2024 election, in the most extensive rollback of Trump-era restrictions on Caracas.
