Russia has nationalized a major factory that belonged to Renault and intends to use it to revive the famous Soviet-era Moskvitch car in what the French automaker categorized as a “responsible choice” for its thousands of employees in Russia.

The move appears to be the first major transfer of private assets into state hands after Russian officials threatened to nationalize Western businesses exiting over Moscow's invasion of Ukraine.

renault: willingly transfers it's stake in the plant to a state-run organization because it's bad PR to do buisness in russia
moscow times: omg russia nationalized a renault plant
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