McDonald's pointed to the humanitarian crisis caused by the war in Ukraine and has started the process of selling its Russian business, which employs 62,000 people.
The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia "is no longer tenable, nor is it consistent with McDonald’s values."
"However, we have a commitment to our global community and must remain steadfast in our values," Kempczinski said in a statement, "and our commitment to our values means that we can no longer keep the arches shining there."U.S. Senate Majority leader Chuck Schumer said Sunday he will add provisions to the $33 billion Ukraine aid package that will allow the United States to seize Russian oligarchs' assets.
McDonald's was the first American fast food restaurant to open in the Soviet Union, which would collapse in 1991. McDonald's decision to leave comes as other American food and beverage giants including Coca-Cola, Pepsi and Starbucks have paused or closed operations in Russia in the face of Western sanctions.
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