OREANDA-NEWS  Oil India Limited is considering the possibility of entering into new Russian projects, the head of the company Ranjit Rath told reporters on the sidelines of Indian Energy Week.

"We don't say yes or no because there are commercial solutions. We evaluate all the opportunities around the world, conduct due diligence, and only after that we move to the second stage and tell the world – yes, we look at it positively. And we are now in the process of due diligence," he said.

Rath also noted that the company has not yet found a solution to the issue of withdrawing dividends from existing mining assets in Russia.

"We receive dividends, these dividends are in our bank accounts in Russia. There is no problem. The question is that we want to transfer the money in the accounts in Moscow to India. But due to the unfavorable situation in the world, there are sanctions that prevent money from being transferred to unfriendly countries. We are evaluating various options for how we can transfer money from our accounts to our accounts (in India). We are exploring various possibilities, possible ways, and legal consequences. We are still in the process," he explained.

Oil India Limited, through consortia, owns shares in projects implemented by Indian companies jointly with Rosneft in the territory of the Russian Federation: in Vankorneft and Taas-Yuryakh Neftegazodobycha.