After Ukraine’s President Zelensky accused Renault of helping to finance the war in his country, the company has announced it will suspend its industrial operations in Russia, where it has a wholly owned manufacturing plant.

Renault also holds a controlling stake in AvtoVAZ and said in a statement that regarding its shareholding, it is ‘assessing the available options, taking into account the current environment, while acting responsibly towards its 45,000 employees in Russia.’

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Renault Group also stressed in the statement that it ‘already implements the necessary measures to comply with international sanctions’.

Addressing the French National Assembly via a video screen, Ukraine’s President Zelensky yesterday targeted a number of French companies – including Renault – for their continued Russia business dealings.

According to Reuters, Zelensky told French lawmakers: “Renault, Auchan, Leroy Merlin must stop being sponsors of the Russian war machine, stop financing the murder of children and women, of rape. French companies must leave the Russian market.”

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