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McDonald's is seeking to sell its Russian business. The U.S. Senate is expected to advance a $40 billion aid package for Ukraine.

French automaker Renault Group is pulling out of Russia — and selling its shares there to Russian government entities.

Renault announced Monday it will sell all of its shares in Renault Russia to the Moscow city government — and its nearly 68 percent stake in Russian automaker AvtoVAZ, which produces the Lada car, to a Russian federal agency, according to a news release.

“We have taken a difficult but necessary decision; and we are making a responsible choice towards our 45,000 employees in Russia, while preserving the Group’s performance and our ability to return to the country in the future, in a different context,” Renault Group CEO Luca de Meo said in the news release.

Russia’s Ministry of Industry and Trade also announced that the “Russian assets of the Renault Group” would “become state property.”

Bloomberg News reported that the move to sell the $2.3 billion Russian auto business amounts to a nationalization, sparked by Russia’s invasion of Ukraine.

The comments from Renault’s CEO came days after Ukrainian President Volodymyr Zelensky criticized the company by name in a speech before the French Parliament, according to the Hill newspaper. “Renault, Auchan, Leroy Merlin and others. They must cease to be sponsors of Russia’s military machine, sponsors of the killing of children and women, sponsors of rape, robbery and looting by the Russian army,” Zelensky said.

Renault’s ties to Russia date to a $1 billion deal in 2007, and the country has since become the company’s second-largest market, Bloomberg News reported. In March, de Meo warned that a Renault retreat in Russia would create a “very complex situation” by eating into the company’s profits and sales, Reuters reported.

Renault has the option to buy back the AvtoVAZ shares at certain times during the next six years, according to its release.

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