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ONGC Videsh steps up efforts to recover dividends from Russia and Venezuela
August 31, 2024
|The Morning Standard
ONGC Videsh Limited (OVL), the overseas arm of ONGC, on Friday said it has stepped up efforts to recover divideds stuck in Russia and Venezuela due to the US sanctions.
OVL announced that its proposal to the US for a waiver to operate in Venezuela is in advanced stage and likely to be approved.
Speaking to the media, Rajashri Gupta, MD of OVL, stated the company has sought a 'specific licence' to operate in Venezuela, similar to the one granted to Chevron. Though the Office of Foreign Assets Control (OFAC) of the US has imposed sanctions on Venezuela, Chevron is permitted to operate in the country.
هذه القصة من طبعة August 31, 2024 من The Morning Standard.
اشترك في Magzter GOLD للوصول إلى آلاف القصص المتميزة المنسقة، وأكثر من 9000 مجلة وصحيفة.
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