On Monday, Renault decided to sell its investment in Russian automaker Avtovaz as well as its shares in Renault Russia.

“Today, we have made a difficult but necessary decision; and we are making a responsible choice towards our 45,000 employees in Russia; while maintaining the Group’s performance and our ability to return to the country in the future, in a different context,” said Luca de Meo, CEO of Renault Group.

Renault Russia’s shares will be transferred to Moscow; while Avtovaz’s almost 68 percent stake would be transferred to Russia’s Central Research and Development Automobile and Engine Institute. In March, the business halted operations at its Moscow unit.

The agreement gives Renault Group the option to buy back its interests in Avtovaz over the next six years. Avtovaz temporarily halted operations at some sites in March due to a scarcity of certain parts.