Some major U.S. brands are halting business with Russia over the Ukraine invasion.
- Coca-Cola, Pepsi, and Starbucks joined McDonald's on Tuesday in announcing they would suspend all business in Russia.
In a statement, Coca-Cola cited "the enduring unconscionable effects from these tragic events in Ukraine".
PepsiCo said "now more than ever we must stay true to the humanitarian aspect of our business".
Add McDonald's to the list of businesses shutting down operations in Russia in response to the Ukraine invasion.
In an open letter to employees, CEO Chris Kempckinski wrote: "our values mean we cannot ignore the needless human suffering unfolding in Ukraine". He says the company will continue to pay its roughly 62,000 Russian employees.
- McDonald's has also closed its 108 stores in Ukraine while continuing to pay workers.
- McDonald's has been operating stores in Russia since 1990. An estimated 9% of its annual revenue comes from Russia and Ukraine.
- What kind of impact do these private-company 'sanctions' have on Russian authorities? How do you think the Russians feel about McDonald's closing during Shamrock Shake season?
- Will these moves have an effect on the Russian government? How much pressure will be on other U.S. companies to follow suit?
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