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Russian sanctions can begin to bite Indian oil companies
Sep 14: Like with sanctions on Iran, US sanctions on Russia will soon begin to hurt Indian companies
8While the measures initially prohibited westerners from doing business with Russians who were deemed to have undermined democratic processes in the Ukraine, the reasons given for the sanctions have grown and the list of potentially prohibited Russian partners has increased to include officials and businesses in Russia’s defence, energy and finance sectors generally.
8As the economic battle wages, India is caught in the crossfire.
8Both OVL and other Indian companies now are worried about their Russian exposure
8Transactions with Russia will eventually have to go through a bank with no US exposure
8Many other precautions will also have to be in place
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