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SocGen and Renault shares slump after sanctions on Russia -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for French bank Societe Generale can be seen at a branch in Nantes (France) on February 4, 2022. REUTERS/Stephane Mahe/File Photo

PARIS (Reuters) – Shares in Societe Generale. (OTC:) French bank owns Russia’s Rosbank. Renault (PA): The PA slumped Monday following sanctions imposed on Russia by Western countries after the attack on Ukraine.

SocGen shares dropped 6.5% early in trading. Renault fell 6.4%, as it controls Russian carmaker Avtovaz.

Russia’s isolation in politics and economy grew as Russia’s forces faced stiff resistance in Ukraine’s capital and other major cities, in what was possibly the most brutal assault against a European country since World War Two.

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