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Starbucks pulls out of Russia while McDonald's removes golden arches as exit gathers pace

Starbucks confirmed that it will leave Russia 12 weeks after it announced it would close all of its Russian stores due to backlash against the war in Ukraine.

The company announced Monday that it will close its operations in the country, ending 15 years of trading Russia.

This was a departure from other Western brands that were heading for the exit. A range of sanctions fell on Moscow from the national governments and the European Union.

Last week, McDonald’s announced that it would dispose of its 847 restaurants because its investment in the country was no longer “tenable” or “consistent with its values.”

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Later, it was revealed that had been purchased. On Monday, the internationally renowned golden arches branding was taken down from a closed restaurant in Khimki outside Moscow.

Renault, the carmaker, stated that it was selling its majority stake in Russia’s largest automaker but had an option to purchase it back in the future.

Shell and BP are two of the UK-listed companies that have pulled out from Russia.

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Starbucks operates 130 Russian stores through a licensee.

Image In a small town near Moscow, a sign for McDonald’s Golden Arches is taken down.

There are 2,000 employees in the operation.

Starbucks stated that it will continue to support its employees in the country, including paying them for six-months.

It didn’t publish any information about the financial consequences of its decision.

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