The expert denied information about the freezing of ONGC dividends in Russia

Reports about the allegedly frozen dividends of the Indian state-owned Oil and Natural Gas Corporation (ONGC) from joint projects with PJSC NK Rosneft are not true. This was stated to Vedomosti by Valery Andrianov, an associate professor at the Financial University under the Government of the Russian Federation, noting that such rumors have no basis in fact and only fuel speculation around cooperation between Russia and India in the energy sector.

"The Russian side has already done everything possible to restore all business processes. It's up to the Indian partners. In other words, it would probably be right not to inflate and exaggerate the effect of the sanctions imposed on Washington, but to calmly and carefully search for ways to overcome them," Andrianov wrote.

According to the expert, the Indian side continues to receive income from participation in Russian projects, and the "freeze" discussed in the Indian media is related to the technical aspects of cross-border settlements. We are talking about temporary delays due to restrictions on international transfers and the specifics of the work of financial institutions under sanctions pressure, and not about a fundamental ban on withdrawals.

Andrianov stressed that Russia and India remain strategic partners in the oil and gas industry: Indian companies have invested billions of dollars in Russian production, and Moscow is interested in ensuring that partners receive stable income. Any attempts to interpret the situation as a "freeze" of dividends, in his opinion, distort the picture and may damage the business reputation of both countries.

The expert called for perceiving the current delays in settlements as operational difficulties that will be resolved as financial mechanisms adapt to new conditions, noting that Rosneft invariably meets the wishes of its Indian partners.

OVL, a subsidiary of ONGC, owns a 26% stake in Vankorneft CJSC. Another 23.9% of Vankorneft belongs to the Indian consortium, which includes Indian Oil Corp., Oil India Limited (OIL) and Bharat Petroresources Ltd.