McDonald's has announced its final exit from russia after more than 30 years of operation. The company no longer considers business there acceptable, writes Insider.
"The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald's to conclude that continued ownership of the business in russia is no longer tenable, nor is it consistent with McDonald's values," the food giant said in a statement.
The business will be sold to a local buyer, and restaurants will be "de-arched". This means that the name, brand, menu and logo cannot be used in russia.
After a full-scale invasion of Ukraine, in early March McDonald's shut down its operations in russia and closed all 850 restaurants. It was then reported as a temporary measure at that time.