The American fast-foot chain McDonald’s announced on Tuesday its decision to temporarily close its 850 restaurants and suspend all operations in the country. Coca-Cola and Starbucks followed suit.
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McDonald’s and a few other American multinationals blamed for not having cut ties with Russia since the invasion of Ukraine, finally gave in to public pressure and suspended their operations in the country on Tuesday March 8.
The American chain has announced its decision to temporarily close its 850 restaurants in Russia and suspend all operations in the country. “The situation is extraordinarily difficult for a global brand like ours and there are many considerations to take into account”said McDonald’s boss Chris Kempczinski.
The group has 62,000 employees in the country, whom it will continue to pay, and multiple suppliers. Russia represents 9% of its turnover and 3% of its operating profit.
Soft drink giant Coca-Cola also announced it was suspending operations in Russia. “We will continue to monitor and assess the situation as circumstances evolve,” underlines in a press release the group which does not give details on its exact activities in Russia.
Starbucks will also close 130 cafes bearing its name in Russia and stop shipping its products to the country, becoming the latest major group in the United States to cut ties with Moscow after the invasion of Ukraine.
In total, more than 280 major companies with a significant presence in Russia have announced their withdrawal, according to an inventory maintained by a team at Yale University. Thirty multinationals remain on the list of companies still exposed to the country.