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Russia will take control of French car manufacturer Renault’s operations in the country and resurrect a Soviet-era auto brand, officials said May 16, marking the first major nationalization of a foreign business since the war in Ukraine began.

Renault's announcement came the same day McDonald's said it is moving to sell its Russian business, which includes 850 restaurants that employ 62,000 people.

Russia will take control of French car manufacturer Renault's operations in the country and resurrect a Soviet-era auto brand, officials said Monday,

Russia will take control of French car manufacturer Renault’s operations in the country and resurrect a Soviet-era auto brand