Amidst Ukraine Invasion, Tata Steel Stops Doing Business With Russia

India's steel giant, Tata Steel, has decided to stop doing business with Russia amidst the ongoing Ukraine invasion. The multinational company's European vertical made the 'conscious decision' of cutting ties with the nation and joined several other global ventures that have taken a stand in the ongoing conflict. The move comes in when India abstains from condemning Putin and his actions.

Before Tata Steel, Infosys was the latest company to stop doing business with the country. The decision was published on April 13, stating that they are looking for alternative options against the 'backdrop of the Ukraine invasion.' Other IT companies such as Oracle and SAP have paused and suspended their operations in Russia.

'Need To Pursue The Path Of Diplomacy'

Hindustan Times quoted the company's statement that they shared recently, "Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with the country. To ensure business continuity, all our steel manufacturing in India, the UK, and the Netherlands have sourced alternate supplies of raw materials to end its dependence on Russia." Until recently, the company had sourced a limited supply of coal from Russia for its services globally.

While two of India's industrial big-wigs are taking the decision in the conflict, the country's diplomatic stand remains neutral. Until now, India has abstained from publicly condemning Russia's actions, and instead, it has asked both countries to solve the issues diplomatically. "We have emphasised right from the beginning of the conflict the need to pursue the path of diplomacy and dialogue," R Ravindra, India's deputy permanent representative to the United Nations (UN) said.

The India-Russia ties have been the bone of contention in global politics currently. However, the Biden administration claims that the India-Russia ties are "distinct", which the superpower considers alright. Further, they have asked countries having solid relations with Russia to use it to protect the rules-based international order.

Also Read: With Russia-Ukraine At War, Here Are The Lessons For India