McDonald’s to sell its Russian business over Ukraine war

McDonald's temporarily closed its restaurants in Russia in response to the invasion of Ukraine, and is now planning to sell its business there.

The chain, which operated 850 restaurants in Russia and employed 62,000 people, said its business in the country was not in line with McDonald's values.

The humanitarian crisis caused by the war in Ukraine and the unpredictable operating environment have led McDonald's to stop owning the business in Russia.

The company did not identify a possible buyer for the business, but said it would book a non-cash charge of up to $1.4 billion for the exit.

The company has continued to pay its Russian employees despite temporarily closing its local stores. The group wants a Russian buyer to hire those workers.

Chris Kempczinski said that we have a commitment to our global community and must remain steadfast in our values.

When the US fast-food group opened its first restaurant in Moscow in 1990 it was seen as a sign of the end of the Soviet Union.