Starbucks is exiting Russia, following McDonald's lead

Starbucks is closing its stores in Russia and is pulling out of the country. In 2007, it opened its first Russian location.

The company told Insider that it had decided to exit the market and no longer had a brand presence.

The licensed stores were run by a franchise operator group based out of Kuwait and not under the direct control of Starbucks. Kevin Johnson, the former CEO, stopped all business in Russia on March 8. Before closing the stores, he promised to donate any royalties from Russian business to relief efforts in Ukraine.

Russian Starbucks stores make up less than 1% of Starbucks global revenue.

McDonald's announced plans to leave Russia on May 16. McDonald's was the first major restaurant chain to suspend Russian business, followed by Starbucks, Papa John's, and Burger King.

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