Tata Steel to stop doing business with Russia

Tata Steel, a leading steel producer in India, said it has planned to stop the business tie with Russia due to the country’s invasion of Ukraine. Tata Steel Europe said in a statement that it has taken a conscious decision to stop doing business with Russia.

To ensure business continuity and to end the dependence on Russia, All of Tata Steel’s steel manufacturing sites in India, the UK, and the Netherlands have found alternative sources of raw materials.

Tata Steel imports coking coal, a key raw material for steelmaking, from Russia. Although the import volume is unclear, the share from Russia’s metallurgical coal is not very important for Indian operations as the company has found sources from other coking coal suppliers.