Famous brands halt business in Russia over Ukraine invasion
A view shows a board with the logo of McDonald's at the company's restaurant in Saint Petersburg, Russia. Reuters
McDonald’s, Starbucks, Coca-Cola, PepsiCo and General Electric all announced Tuesday they were suspending their business in Russia in response to the country’s invasion of Ukraine.
McDonald’s is temporarily closing all of its 850 restaurants in Russia, but will continue paying its 62,000 employees there.
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The Chicago-based burger giant said it will temporarily close 850 stores but continue paying its 62,000 employees in Russia "who have poured their heart and soul into our McDonald’s brand.”
Starbucks store
Starbucks is temporarily closing 130 franchised stores but its franchisee will continue paying 2,000 Russian workers.
Coca-Cola said it is suspending its business; its bottling partner has 10 plants in Russia. PepsiCo is suspending soda sales but will keep making milk and baby formula.
GE said it was suspending its business except for essential medical equipment and electrical service.
Picture used for illustrative purposes only.
Meanwhile, consumer goods conglomerate Unilever said Tuesday that it has suspended all imports and exports of its products into and out of Russia, and that it will not invest any further capital into the country.
The company condemned the war in Ukraine as "a brutal and senseless act by the Russian state” Tuesday. It said it will continue to supply everyday essential food and hygiene products that are made in Russia to people there, but will keep that under review.
Unilever, which owns hundreds of food and personal care brands including Hellmann’s and Dove, also said it has stopped business operations in Ukraine and will instead focus on helping its employees.
