After Trump's sanctions on Russian oil firms, Rosneft and Lukoil, ONGC Videsh (OVL) is seeking legal advice to avoid violating sanctions. Although sanctions don't apply to firms with less than 50% Russian ownership, OVL's proceeding with caution. For context, OVL holds 26% stake in Vankorneft, a Rosneft subsidiary, while group comprising multiple Indian oil firms collectively own 23.9% stake.
short by
Ishita Ranganath /
10:57 pm on
27 Oct