Renault
French carmaker led by François Provost; sold its Avtovaz stake to NAMI in 2022.
Renault, the French carmaker run by François Provost, sold its 67.69% Avtovaz stake to the state institute NAMI in May 2022 with a six-year buy-back option. The exit needed Moscow's consent, as did the UniCredit bank sale cleared on 5 October 2026.
Last refreshed: 12 October 2026
Will Renault use its option to buy back Avtovaz before it runs out?
Timeline for Renault
Mentioned in: Putin clears sale of AO UniCredit Bank
Russia-Ukraine War 2026Background
Renault is the French carmaker based in Boulogne-Billancourt, run since July 2025 by chief executive François Provost. Its Russian exit of 2022 is the reference case for Western companies leaving Russia.
In May 2022 Renault's board approved selling its 67.69% stake in Avtovaz to NAMI, a Russian state research institute, and all of Renault Russia to a Moscow city entity. The deal kept an option for Renault to buy back its Avtovaz interest at set times during the following six years. Renault wrote off Russian assets carried at about €2.2bn at the end of 2021.
The pattern has outlasted the deal. On 5 October 2026 Vladimir Putin cleared the sale of all shares in UniCredit's Russian bank, after part of it is spun off to the Italian parent. As with Renault, the exit needed Moscow's consent and kept something back for the Western owner. Renault's own buy-back window runs until 2028.