French companies that left Russia, and those that remained

After the start of the war in Ukraine, many French companies left Russia or temporarily suspended their activities. But some have decided to stay, even if it means damaging their image.

French companies that left Russia

Among the best known are Renault. In the spring of 2022, the group sold its subsidiary Avtovaz in Russia. The company claims to have lost 338 million euros in 2022 and this is largely due to its exit from the Russian market. This is a big shortfall since the country represented nearly 20% of Renault’s deliveries. There Societe Generale separated from its retail bank Rosbank, the second in Russia. A withdrawal that cost him more than 3 billion euros. French luxury has also withdrawn, this is the case of LVMHowned by Bernard Arnault, and Chanel.

French companies still on site but which have temporarily suspended their activities

Air France no longer flies its planes to or from Russia, while allowing itself the possibility of returning later. The stores Decathlon have closed in Russia but that’s because of supply issues. And then, others intend to leave but they are still negotiating to find buyers, this is the case for example of Michelin. Even if there too it will cost money, the loss will be less according to the group which ensures that its activities in Russia represent 1% of its sales and 2% of its turnover.

There is a special case, that of TotalEnergies. The company still maintains commercial ties with Russia via its stake in the Yamal liquefied natural gas plant located in Siberia. 70% of production is destined for Europe. “We need this gas”, justifies the management of TotalEnergies, which also specifies that these activities are not subject to European sanctions. On the other hand, the company has completely stopped buying Russian oil since the beginning of the year.

French companies that continue normal activity in Russia

Despite the risks in terms of image, Lactalis And Bonduelle are affected, for example. Recently, we also heard aboutAuchan and of Leroy Merlin two brands from the Mulliez galaxy. A newspaper survey The world (article reserved for subscribers) reveals their participation in the war effort on the Russian side. Charges denied by both directions. Moreover, they justify their presence on Russian territory to protect tens of thousands of jobs and allow the Russian population to feed itself. Arguments that are also found at Lactalis and Bonduelle.