Archive · 21 Sep 2025
Indian Oil Companies Struggle to Repatriate $1.4B Dividends from Russia
Indian oil companies have about $1.4 billion in earnings stuck in Russia.
This money comes from their investments in Russian oil and gas projects.
They can't bring the money back home because of the war in Ukraine and the restrictions placed on Russia.
The money is safe in an Indian bank in Moscow, but they can't easily use it.
The companies have tried to find ways to use the money in Russia, but there are many problems.
These include how to pay for things in Russia and how to pay for Russian oil.
The companies are working with experts to find a solution, but it's complicated.
Indian oil companies have $1.4 billion of dividends stuck in Russia.
The money originates from investments in Russian oil and gas projects.
The companies cannot repatriate the money due to restrictions after the war in Ukraine.
Funds are held in Moscow in accounts at Commercial Indo Bank.
Several options for using the funds within Russia are limited.
- Who
- Indian public sector oil companies
- What
- Are unable to repatriate $1.4 billion in dividend income from Russia.
- When
- Since the Russia-Ukraine war began in February 2022
- Where
- Russia
- Why
- Due to payment channel restrictions and sanctions.
- Stuck Dividends Value
- $1.4 billion
- Affected Companies
- ONGC Videsh (OVL), Indian Oil Corporation (IOC), Oil India (OIL), Bharat Petroleum Corporation (BPCL), Bharat PetroResources (BPRL)
- Dividends Held In
- Accounts at Commercial Indo Bank (CIBL) in Moscow
- Obstacle to Repatriation
- Payment restrictions after the Russia-Ukraine war
- Origin of Dividends
- Investments in Russian oil and gas projects