McDonald’s Exit From Russia after 30 years, Putin blamed for war in Ukraine

[yungcrux]

BOOK INTERNATIONAL FLIGHTS TICKETS LOCAL FLIGHTS HOTELS BOOKINGS WORLDWIDE AND MORE AT CHEAPEST RATE EVER! CLICK HERE TO BOOK YOUR FLIGHT AND RECEIVE YOUR FLIGHT TICKET INSTANTLY

McDonald’s is exiting the Russian market entirely, the company announced on Monday.

The process of selling its Russian business has now been initiated, per a report from the Associated Press, with McDonald’s confirming in a statement it is currently seeking to sell off “its entire portfolio” in Russia to a local buyer after more than three decades in the country.

“We have a long history of establishing deep, local roots wherever the Arches shine,” McDonald’s CEO Chris Kempczinski said Monday. “We’re exceptionally proud of the 62,000 employees who work in our restaurants, along with the hundreds of Russian suppliers who support our business, and our local franchisees.”

Russia’s war in Ukraine and the resulting “unpredictable operating environment” are both cited in Monday’s extended corporate statement as having inspired the decision, which follows a company announcement from March regarding what was then expected to be a temporary closure of restaurants in Russia. At the time, multiple companies made similar announcements, including Starbucks and Coca-Cola.