NEW YORK: American fast-food giant McDonald said on Monday it will exit Russia in the wake of the Ukraine invasion, ending a more than three-decade run begun in the hopeful period near the end of the Cold War.
The restaurant chain, which launched in Moscow in January 1990 to great fanfare almost two years before the Soviet Union was dissolved, characterized the withdrawal as difficult but necessary.
"The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values," the company said in a statement.
The chain is looking to sell "its entire portfolio of McDonald’s restaurants in Russia to a local buyer." The burger giant is one of numerous foreign firms that have pulled out of the country or suspended operations following Moscow’s invasion of Ukraine in late February.
The U.S. Treasury Department. — AFP FileWASHINGTON: The United States on Wednesday issued hundreds of fresh...
Turkish police detaining protesters as they attempt to march to Istanbul's Taksim Square during a May Day rally on May...
Saudi fitness instructor Manahel Al-Otaibi. —AFP/FileDUBAI: Amnesty International called on Saudi Arabia to free a...
Harvey Weinstein. — AFP File NEW YORK: Harvey Weinstein will be retried in New York, the Manhattan District...
A representational image showing students refilling their bottles to hydrate on a hot summer day, at a school in...
This photo taken on May 1, 2024 shows the site of an expressway collapse accident on the Meizhou-Dabu Expressway in...