Starbucks, McDonald's, Pepsi, and Coca-Cola Suspend Business in Russia Amid Ukraine Invasion
On Tuesday, Starbucks, McDonald’s, Pepsi, and Coca-Cola announced their plans to suspend business in Russia amid the country's invasion of Ukraine.
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On Tuesday, Starbucks, McDonald’s, Pepsi, and Coca-Cola all announced plans to suspend business in Russia amid the country’s invasion of Ukraine.
As CNBC reported, Starbucks has immediately suspended all business in the country, temporarily shuttering its 130 licensed locations in the country. The business suspension also means Starbucks won’t ship its products to Russia. The news comes after CEO Kevin Johnson, in a letter shared last week, said he would be providing support to the 2,000 Starbucks employees in Russia.
McDonald’s also confirmed it would temporarily close all of its 850 sites in Russia. "The conflict in Ukraine and the humanitarian crisis in Europe has caused unspeakable suffering to innocent people. As a System, we join the world in condemning aggression and violence and praying for peace," said the company in a statement. "We are continuing to pay full salaries for our Ukrainian employees and have donated $5 million to our Employee Assistance Fund, and continue to support relief efforts led by the International Red Cross in the region."
Per ABC News, both the Coca-Cola Company and PepsiCo have suspended business in Russia with immediate effect. “Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine," said Coca-Cola in a press release. "We will continue to monitor and assess the situation as circumstances evolve." Coca-Cola will continue to sell essentials, such as dairy products and baby food, in Russia.
Last week, Ukraine foreign minister Dmytro Kuleba told CNN that “all western companies must withdraw from Russia” as Putin’s forces continue to invade. On Tuesday, President Joe Biden announced that the country has effectively banned all Russian oil. Many US-based companies have faced pressure to cut business ties with Russia, with Netflix suspending its service in the country on Sunday. Visa and MasterCard also suspended Russian operations.