Amid heightened global tensions, French President Emmanuel Macron voiced his stance on the upcoming Summer Olympics, saying that the Russian flag should not fly at the 2024 Paris Games. The decision came as Russia continued a full-scale invasion of Ukraine.

Macron's statement, shared with French sports daily L'Equipe, was scathing: “Russia, as a country, is not welcome at a time where it has committed war crimes and deported children.”

The French president said that while the Russian nation wasn't welcome due to its wartime actions, the involvement of its athletes in the games was a matter for the International Olympic Committee (IOC) to determine.

And while the IOC reiterated earlier this year that it would not be sending formal invitations to Russia or Belarus for the 2024 Summer Olympics due to its aggression against Ukraine, individual athletes holding passports from the two countries might not be banned from the games.

In light of that, Ukraine considered boycotting the Paris games. However, Reuters said Thursday the country might drop the boycott if athletes from both Russia and Belarus compete under a neutral flag.

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Sportswear companies such as Nike Inc (NYSE:NKE) and Adidas AG-ADR (OTC:ADDYY), which sponsor numerous athletes, might see fluctuating merchandise sales if the controversy overshadows the games.

As discussions continue, global companies associated with the event will keep a close watch on developments.

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