French Health and Automotive Sectors Suspend Business in Russia
International markets cast another stone at Russia this week in response to the country’s unprovoked invasion of Ukraine, this time from representatives of France’s healthcare and automotive sectors as they announced the suspension of all Russian-based activities until further notice.
Sanofi and Renault, a French multinational pharmaceutical company and automobile manufacturer, respectively, decided to cut ties with its Russian markets, both in response to international sanctions against Russia, as well as in a gesture of solidarity with Ukraine.
“We stand in opposition to the Russian war in Ukraine and in full support of the position of the international community,” Sanofi said in a press release. The pharmaceutical company therefore decided to suspend all business in Russia not related to the supply of essential and life-saving medication, as well as its continued supply of vaccines.
This boycott is also extended to Belarus. Minsk allowed Russia to bypass its territory in order to invade Ukraine’s northern border.
Sanofi also extended its support towards the people of Ukraine and stated that it will accelerate the delivery of essential medications and vaccines to Ukrainian patients and refugees.
To date, Sanofi has delivered 10.5 million doses of medications that include insulin, anti-epileptics, and others used in emergency situations.
Meanwhile, Renault’s board of directors announced that the company will suspend all operations in its manufacturing plant in Moscow until further notice.
The French automobile manufacturer noted, however, that it intends to do right by its 45,000 Russian employees whose currency, the rouble, has been devalued by as much as 40 percent as a result of the sanctions levied against Russia for its invasion of Ukraine.
Workers in the Russian automobile industry have been significantly impacted by the West’s response to the invasion of their neighbor. In addition to factory hours being scaled back, wages have dropped by as much as one-third, according to Novaya Gazeta.