Russia-exposed Renault says is 'carefully' following Ukraine-related diplomacy

Renault is carefully following the Ukraine security crisis to gauge any effects on its business, the French carmaker's spokesperson said on Tuesday.

"We are following the ongoing diplomatic discussions very carefully. At this stage, it is premature to estimate what could be the sanctions," Rie Yamane, Renault's corporate external communications manager wrote in an e-mail to Reuters asked if the company already had any contingency plan for when the Western government's introduce sanctions against Russia.

The United States and its European allies were set to announce fresh sanctions against Russia on Tuesday after President Vladimir Putin recognised two breakaway regions in eastern Ukraine, deepening Western fears of a new war in Europe.