French companies remaining in Russia forced to fight several battles at the same time. They must ensure that they respect international sanctions without displeasing the Russian authorities, distance themselves from the managers of their local subsidiary and prevent their continued presence from tarnishing their image.

Société Générale, Renault, Publicis, Sodexo and even Legrand left Russia a long time ago, generally paying a high price for their exit. Others have chosen to stay in the country, and are not giving up. A choice that the Stock Exchange, under the influence of…