Renault Boycott Called for in U.K. After Moscow Plant Reopens

(Bloomberg) --

A U.K. opposition politician who’s been campaigning for the sanctioning of Russian oligarchs like Roman Abramovich is calling for British car buyers to boycott Renault SA.

“Renault resumes manufacture in Russia,” Chris Bryant, a member of parliament for the Labour Party, wrote on Twitter. “It’s time we stopped buying them in the U.K.”

Renault, which gets about 10% of its revenue from Russia, has been reluctant to pull back from the country as all other major automakers have since the invasion of Ukraine. Rival Stellantis NV suspended car imports and exports as part of a broader retreat by companies including Volkswagen AG, Toyota Motor Corp. and Mercedes-Benz AG. Even Renault’s Japanese partner Nissan Motor Co. halted exports to the country.

Renault has kept longstanding ties with Russia intact because it’s worried about the high cost of pulling out of its Avtovaz venture, Bloomberg has reported. The carmaker also owns a plant near Moscow. The French government, Renault’s most powerful shareholder, has been backing the company’s position. 

Read more: Renault Is Said to Be Reluctant to Leave Russia Over Costs

Renault has about 30% of the Russian car market and a staff of roughly 40,000 in the country. The company continues to monitor the situation, according to a spokesman.

French energy giant TotalEnergies SE, also under scrutiny for keeping operations in Russia, on Tuesday said it will stop buying Russian crude and diesel by the end of the year, when its contracts expire. The company has been criticized by Greenpeace and the Church of England over keeping its stakes in companies and hydrocarbon projects in the country.

©2022 Bloomberg L.P.