SocGen and Renault shares slump after sanctions on Russia

1 min read
FILE PHOTO: Logo of Societe Generale outside a bank office in Nantes

PARIS – Shares in Societe Generale, the French bank that owns Russia’s Rosbank, and carmaker Renault 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.

(Reporting by Sudip Kar-Gupta; Editing by David Goodman)