McDonald’s Says It’s Exiting Russia After More Than 30 Years
"Fast food giant McDonald’s on Monday said it is looking to sell its Russian business and leave the market entirely as Moscow’s invasion of Ukraine makes its continued presence untenable, a major symbolic departure for a chain symbolizing American capitalism and the end of more than three decades of business.
McDonald’s said it would temporarily close its 847 Russian restaurants in early March, around two weeks after Russia launched its invasion. It faced heavy criticism and threats of boycotts for continuing to operate in Russia as an increasing number of Western companies pulled out.
McDonald’s exit from Russia is significant, marking not only the departure of an industry titan but of a potent emblem of Western money, power and influence spreading across the world. . .McDonald’s is one of several recognizable international brands questioning their continued operations in Russia after its invasion of Ukraine and one of the first to announce it is selling up and leaving entirely. . .
$1.2-$1.4 billion. That’s how much the exit from Russia will cost the fast food giant, McDonald’s said. This is mostly a non-cash write off for its investments."
Further Reading
Renault’s Russian Assets Nationalized After Carmaker Sells To Moscow (Forbes)
McDonald’s Shuts 800 Restaurants In Russia Over Ukraine Invasion (Forbes)
McDonald’s in Russia: departure is about a lot more than burgers (Guardian)
