After Infosys, Tata Steel stops business with Russia over Ukraine invasion

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Days after India’s tech giant Infosys dropped out of business with Russia, the European arm of Indian steel major Tata Steel on Wednesday said it will stop doing business with Russia amid the ongoing conflict with Ukraine.

In a statement, the company said, “Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with Russia.”

It added, “To ensure business continuity, all our steel manufacturing sites in India, the UK and the Netherlands have sourced alternative supplies of raw materials to end its dependence on Russia.”

This is the latest global company to cut ties with Russia for invading Ukraine. Earlier, Indian software behemoth Infosys Ltd moved out of business with Russia on April 13 and is pursuing alternate options against the backdrop of the Ukraine conflict. Several other global IT and software companies including Oracle Corp and SAP SE have either suspended or paused all operations in Russia.

Also read: ‘The ball is in their court, we are waiting’: Russia on peace talks with Ukraine

Meanwhile, India’s deputy permanent representative to the UN, R Ravindra emphasised the country’s stand on the Russia-Ukraine crisis at the United National Security Council meeting on Ukraine’s humanitarian situation on Tuesday.

“We have emphasised right from the beginning of the conflict the need to pursue the path of diplomacy and dialogue. When innocent human lives are at stake, diplomacy must prevail as the only viable option,” the diplomat said.

The Russia-Ukraine war entered its 56th day on Wednesday after President Vladimir Putin began its invasion of the war-torn country on February 24. Thousands of people have been killed and several houses and properties have been damaged in Ukraine due to Moscow’s constant shelling, and bombing.

See also  US natural gas prices at 13-year high as Ukraine war creates supply crunch

Also read: ‘Immediately lay down arms’: Russia’s new warning after battle of Donbas starts

Mariupol has become one of the worst-hit cities in Ukraine by the war. Meanwhile, over five million people have left the Zelensky-led country ever since the invasion began, said the UN.




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