Tata Steel, one of India’s largest steelmakers, said on Wednesday it had “made a conscious decision to stop doing business with Russia”.
Tata Steel is part of the Tata Group, one of the largest multinational conglomerates in India.
“We are also providing some assistance to rehabilitate displaced people, and see if they can work in some of our locations in Eastern Europe as they move to other geographies,” he added.
While the United States continues to try Rallying the world behind tough economic sanctions on Moscow, India also did not back down from its purchases of Russian energy oil or gas, and defended its position by pointing to Europe’s continued dependence on imports from Russia.
US Secretary of State Anthony Blinken said earlier this week that “India has to make its own decisions about how it handles” Russia’s war in Ukraine.
The chief US diplomat noted that “India’s relationship with Russia developed over decades, at a time when the United States was not able to be a partner of India.”
But “times have changed,” Blinken added. And The United States is “able and willing to be a preferred partner with India.”
Manvina Suri in New Delhi contributed to this report.
“Hipster-friendly troublemaker. Communicator. Organizer. Devoted web lover. Unapologetic problem solver. Reader. Explorer. Travel guru.”
Former Silicon Valley Bank Owner, FDIC Prepares to Fight Over $2 Billion
An army of lobbyists helped loosen banking regulations
Pimco loses $340m with Credit Suisse AT1 writedown – Source