ONGC Videsh Ltd is seeking legal counsel after the US imposed sanctions on a Russian oilfield where Indian companies collectively hold a 49.9% stake. While Indian stakes are below the 50% threshold for direct sanctions, OVL aims to ensure compliance with OFAC regulations. The move highlights the challenges for Indian firms navigating Western sanctions while pursuing energy interests in Russia.
ONGC Videsh seeks legal advice as US sanctions hit Russian oilfield with Indian stake: Report
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