01.11.2024, 02:42
Total announced billions of dollars stuck in Russian accounts
Source: OREANDA-NEWS
OREANDA-NEWS French Total Energy s cannot withdraw from Russia about 1.5-2 billion dollars, which it relies on in the form of dividends from participation in the share capital of NOVATEK and joint ventures with it. This was announced by the head of Total Patrick Puynne, RBC reports.
Most of the funds are stuck in NOVATEK's accounts. "In fact, NOVATEK has kept these dividends in its account for us," he explained.
In September, it was reported that dividends of Indian oil companies in the amount of $ 900 million were suspended in Russia. Over the year, the amount increased from $600 million to $900 million — Indian companies received these funds from participation in Russian oil exploration and production projects. They were unable to work out with the Russian side a mechanism for repatriating this money or using it in bilateral trade, as a result of which dividends in rubles are accumulated in a subsidiary of State Bank of India, a Commercial Indo Bank.
Most of the funds are stuck in NOVATEK's accounts. "In fact, NOVATEK has kept these dividends in its account for us," he explained.
In September, it was reported that dividends of Indian oil companies in the amount of $ 900 million were suspended in Russia. Over the year, the amount increased from $600 million to $900 million — Indian companies received these funds from participation in Russian oil exploration and production projects. They were unable to work out with the Russian side a mechanism for repatriating this money or using it in bilateral trade, as a result of which dividends in rubles are accumulated in a subsidiary of State Bank of India, a Commercial Indo Bank.
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