Russia Ukraine war, page-31165

‘Starbucks is leaving the Russian market, bringing an end to nearly 15 years of business in the country for the Seattle-based coffee company.

Starbucks currently has 130 stores in Russia, according to Reuters, and the company employs nearly 2,000 people in the country.

Despite exiting the market, Starbucks said it would continue to support its Russian employees by paying them for six months.

The move comes amid a wave of announcements from Western companies that they are leaving the Russian market by selling off assets or transferring them to local managers in response to the war in Ukraine.

McDonald’s said last week that it would sell its restaurants in Russia to its local licensee and have them rebranded under a new name, but the company will retain its trademarks.’