Tata Steel to break ties from its business with Russia

22 Apr 2022 CW Team

Tata Steel will stop its business with Russia, making it the latest global company to cut ties for invading Ukraine.

The spokesperson of Tata Steel told the media that the company does not have any operations or employees in Russia and has decided to stop doing business with Russia.

The company said that to ensure business continuity, all the company's steel manufacturing sites in India, the UK, and the Netherlands have found alternative supplies of raw materials to cease its dependence on Russia.

Tata Steel is among a few Indian companies that have concluded business with Russia with the initiative coming, even as India abstains from condemning the invasion and has not imposed sanctions on Moscow.

Recently, Infosys announced that it would move the business out of Russia.

Western allies have called on India to speak out against the Russia-Ukraine war. Many western companies have withdrawn businesses from Russia.

According to a report, the company will end its business ties, and businesses in UK and Netherlands are a part of this decision.

A senior executive of Tata Steel told the media that sourcing coal from Russia was miniscule.

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