Tata Steel Stops Business with Russia: The Russia-Ukraine war affects the world. Russia, which has been waging war on Ukraine, has been under economic blockade by the European Union and Western nations, but Russian President Vladimir Putin is not ready to back down. So this war has simmered even more.
India's leading conglomerate, the Tata group, has taken an aggressive stance on Russia. Tata Steel has announced that it will immediately close its business with Russia, plunging Ukraine into war. Tata Steel is one of the leading steel producers in India and the world.
Tata Steel has decided to sever business ties with Russia. At present, Tata Steel has no employees in Russia. Tata Steel said in a statement that the decision to suspend business with Russia was taken deliberately. Tata Steel was importing coal from Russia for steel production.
Russia has suffered heavy casualties in the past three months from military action in Ukraine. Millions of Ukrainian citizens have fled the country. The war has so far claimed thousands of lives and damaged many cities. The European Union and NATO have vehemently opposed Russia's move. The European Union and the United States have imposed sanctions on Russia.
Before Tata Steel, some Indian companies did business in Russia. Information and technology company Infosys closed its business in Russia last week.