McDonald’s: Fast-food chain gives up business in Russia

First McDonald’s store in Moscow

On January 31, 1990, the fast food chain opened its first snack bar in the Soviet Union – a harbinger of the end of the Cold War.

(Photo: AP)

Chicago The US fast food chain McDonald’s is going out of business in Russia as a result of the Russian war against Ukraine. After more than 30 years in the country, McDonald’s wants to sell the branches to a Russian buyer, as the group announced on Monday in Chicago. So far there are around 850 branches in Russia with around 62,000 employees.

McDonald’s CEO Chris Kempczinski said the commitment and loyalty of employees and suppliers in Russia made the company’s decision to withdraw very difficult. “But we have an obligation to our global community and must uphold our values,” he added.

The company had already announced on March 8 that it would temporarily close the restaurants in the country. The new owner of the restaurants should no longer be able to use the brand symbols. Other US food companies such as Starbucks, Pepsi and Coca-Cola have already suspended or closed their stores in Russia due to Western sanctions.

According to its own statements, McDonald’s will post special costs of 1.2 to 1.4 billion US dollars for the withdrawal from Russia, including write-downs and foreign currency losses.

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McDonald’s opened its first fast-food restaurant in Moscow during Soviet times, sending a strong signal that Cold War tensions between the United States and the Soviet Union were easing.

McDonald’s branch in central Russia

The fast-food giant wants to sell all its branches in Russia.

(Photo: AP)

More: All news about the Ukraine war in the live blog

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