Wednesday, the Ukrainian president, Volodymyr Zelensky, asked French companies to leave Russia and stop being the “sponsors of war”.
Le Monde with AFP and Reuters
Under pressure Renault ended up yielding. The most exposed automakers in Russia announced, Wednesday, March 23, suspend the production of its Moscow plant with immediate effect and reflect on the future of its control participation in the first Russian automaker AVTOVAZ.
If he had never officially communicated before Wednesday night on his prospects in Russia since the offensive in Ukraine, Renault carefully watched the critics on the recovery of the production of his Moscow plant producing SUV Duster, captur , Arkana and Nissan Terrano this week, and Avtovaz factories the previous week.
The pressure is mounted on Wednesday, when the Ukrainian president, Volodymyr Zelensky asked French companies to leave Russia and stop being the “sponsors of war”, citing Auchan, Leroy-Merlin and Renault. The Minister of Foreign Affairs Ukrainian, Dmyro Kuleba, has in the wake of a global boycott of the French automaker. After the announcement of Renault, He praised the constructor’s statement , evoking “responsible action in the context of the current barbaric aggression of Russia against Ukraine”.
Renault Refused to Pull Out of Russia. Not That It Should Surprise Anyone When Renault Supports A Brutal War Of Agg … https://t.co/38r8f8fqps //p>- dmytrokulea (@dmyro kuleba)
“As a result, Renault Group is forced to review its financial perspectives for the year 2022,” he warned, providing for a drop in the operating margin “of the order of 3%”, against more than 4% planned previously.
It also now provides for a cash flow available only “positive” for its “automotive” activity, while it was for “more than one billion euros previously”.
In anticipation, Renault plans to record an adjustment charge of 2.195 billion euros in its first half-year accounts, the value of its assets in Russia.