US coffee chain Starbucks and fast food restaurant Mcdonald’s announced that they suspended all commercial activities in Russia.
In his statement, Starbuck Chief Executive Kevin Johnson condemned Russia’s attacks on Ukraine.
Stating that they continue to monitor the developments, Johnson noted that it had been decided to suspend all commercial activities in Russia, including the shipment of Starbucks products.
Johnson noted that the company has agreed to cease operations of its licensed partner in the country immediately and will support “about 2,000 Starbucks partners in Russia for their livelihood.”
McDonald’s, the fast-food giant, has announced that operations at its 850 restaurants would be temporarily shut down. In a recent regulatory filing, McDonald’s reported that its businesses in Russia and Ukraine contributed 9% of its yearly revenue, or roughly $2 billion.
