French firms hesitate amid growing pressure to leave Russia

It’s particularly true for automakers and parts manufacturers whose European factories might be shut down without Russian-made parts, said Henisz, who studies political risk for corporations.

Henisz said French business and political leaders have clung to the longstanding notion that their continued engagement with countries of any political regime offers France more political and economic weight and a leadership position in Europe.

Not just French companies are feeling the heat. Swiss multinational food giant Nestlé sought to deflect criticism by saying Wednesday that it will remove some brands from Russia, including KitKat candy bars and Nesquik milkshake powder, but will keep supplying “essential food.”

Zelenskyy singled out some French companies in his address to France’s parliament, pleading for them to stop indirectly supporting the war in Ukraine with their presence in Russia.

“Renault, Auchan (and) Leroy Merlin must stop sponsoring the Russian war machine, and the murder of children and women, rapes, robberies and looting committed by the Russian army,” Zelenskyy said. “All companies must remember that values are worth more than profit.”

In a tweet Wednesday, Ukrainian Foreign Minister Dmytro Kuleba called on customers and businesses worldwide to boycott Renault. “Mistakes must come with a price,” he wrote, alongside a picture describing the brand as “sponsor of Putin’s war.”