McDonald’s has decided it is temporarily closing all of its 850 restaurants in Russia in response to the country's invasion of Ukraine.
The president has been under pressure from both Democrats and Republicans to go forward with a ban.DETROIT -- McDonald's, Starbucks, Coca-Cola, PepsiCo and General Electric __ ubiquitous global brands and symbols of U.S. corporate might __ all announced Tuesday they were temporarily suspending their business in Russia in response to the country's invasion of Ukraine.
“Through this dynamic situation, we will continue to make decisions that are true to our mission and values and communicate with transparency," Johnson wrote. McDonald's is among those to take the biggest financial hit. Unlike Starbucks and other fast food companies like KFC and Pizza Hut, whose Russian locations are owned by franchisees, McDonald's owns 84% of its Russian stores. McDonald’s has also temporarily closed 108 restaurants it owns in Ukraine and continues to pay those employees.
McDonald's said Tuesday it has donated more than $5 million to its employee assistance fund and to relief efforts. It has also parked a Ronald McDonald House Charities mobile medical care unit at the Polish border with Ukraine; another mobile care unit is en route to the border in Latvia, the company said. PepsiCo said it is donating food, refrigerators and $4 million to relief organizations.