McDonald's Corp said on Monday it would sell all its restaurants in Russia after more than 30 years, making it one of the biggest global brands to exit since the country's invasion of Ukraine.
May 16 - McDonald's Corp on Monday became one of the biggest global names to exit Russia, laying out plans to sell all its restaurants after operating for more than 30 years in the country following its invasion of Ukraine.
In the Russia of the early nineties, the burger chain became a way to sample Western food and spirit for millions of people, even though the cost of one burger was several times bigger than many city dwellers' daily budgets. Over the weekend, long, snaking queues were seen at the restaurant in Moscow's Leningradsky Station, one of the capital's only branches that has remained open, social media footage showed.
After McDonald's decision to close stores in March, several American brands including Starbucks Corp, PepsiCo Inc and Coca-Cola Co followed suit, scrambling to comply with sanctions and deal with threats from the Kremlin that foreign-owned assets may be seized.
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