Renault throws in the towel in Russia, this is how in a few hours Zelensky and global boycott bogey have turned around Paris

Sales today on Renault stock, which fell 1.5% in Paris after the company announced it will suspend operations at its Moscow plant, reacting to growing pressures related to the war in Ukraine. Yesterday, Ukrainian President Volodymyr Zelensky, who spoke by video link to the French Parliament, invited French companies to leave the Russian market. “Renault, Auchan, Leroy Merlin and others must stop sponsoring Russia’s war machine,” were his words. In addition, the Ukrainian foreign minister, Mytro Kuleba, had even called for a “worldwide boycott” of the car manufacturer, which sees the French state as an important shareholder.

Renault said it will consider options on its majority stake in Avtovaz, the No. 1 in Russia.