ONGC Videsh Ltd (OVL), the overseas investment arm of Oil and Natural Gas Corporation, has sought legal advice following the imposition of US sanctions on a Russian oilfield in which Indian companies collectively hold a 49.9 per cent stake, sources said.

The move comes after US President Donald Trump on October 22 announced new sanctions against Russia’s major oil producers Rosneft and Lukoil, aimed at increasing pressure on Moscow to end its war with Ukraine.

As part of these measures, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated multiple Rosneft and Lukoil subsidiaries that are either directly or indirectly controlled by the two Russian energy giants through holdings of 50 per cent or more.

Since the Indian consortium’s stake is just below the 50 per cent threshold, OVL is examining the legal implications of the sanctions and exploring options to ensure the continuity of operations and compliance with international laws.

Officials said the company is maintaining close contact with the Ministry of External Affairs and Ministry of Petroleum and Natural Gas to determine the next steps and safeguard India’s energy interests.