Tata Steel, India’s biggest importer of Russian coal in the first quarter, said it would stop importing Russian coal due to “uncertainties” created by Western sanctions. Business Insider reports that the company’s decision to halt Russian coal imports comes despite India’s willingness to buy Russian oil, which New Delhi has vehemently defended while other governments have banned it or are heading that way. Analysts have noted that sanctions on Moscow have made making payments for its commodities trickier, and while India and Russia have flirted with local currency payments for business transactions, concrete plans have yet to come to fruition.
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