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.’

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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