Starbucks Corp says it will be closing its 130 stores in Russia and exiting the market after nearly 15 years because of the war against Ukraine.
The Seattle-based coffee giant informed its employees on May 23 that it will shut its operations in Russia, though the company will continue to pay its nearly 2,000 Russian employees for six months to help them as they search for new jobs.
“Starbucks has made the decision to exit and no longer have a brand presence in the market,” the company said in a statement. In March it announced a suspension of operations because of the unprovoked invasion of Ukraine by Russian forces.
Dozens of major international companies from a broad range of sectors have exited Russia since it launched its war against Ukraine on February 24.
McDonald’s announced on May 19 that it had signed a deal to sell its business in Russia to a local licensee that will give him the global fast food giant’s entire portfolio in the country and allow him to operate the restaurants under a new brand.