SocGen and Renault shares slump after sanctions on Russia By Reuters

February 28, 2022 admin Stock News 0

© Reuters. FILE PHOTO: The logo of French bank Societe Generale is seen outside a bank office in Nantes, France, February 4, 2022. REUTERS/Stephane Mahe/File Photo

PARIS (Reuters) – Shares in Societe Generale (OTC:), the French bank that owns Russia’s Rosbank, and carmaker Renault (PA:) slumped on Monday after Western nations imposed sanctions on Russia after its attack on Ukraine.

SocGen shares were down 6.5% in early trading while Renault, which controls Russian carmaker Avtovaz, fell 6.4%.

Russia’s political and economic isolation deepened on Monday as its forces met stiff resistance in Ukraine’s capital and other cities in the biggest assault on a European state since World War Two.

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