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War in Ukraine: McDonald’s, Coca-Cola, PepsiCo and Starbucks halt Russian sales

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War in Ukraine: McDonald’s, Coca-Cola, PepsiCo and Starbucks halt Russian sales

McDonald’s said it was temporarily closing its roughly 850 restaurants in Russia, while Starbucks also said its 100 coffee shops would shut.

On Wednesday, Heineken stopped beer production and sales in Russia.

And Mothercare said all business in Russia, which represents 20% to 25% of its global sales, had been stopped.

The moves by McDonald’s, Coca-Cola and Starbucks come after mounting pressure on companies to act over the war in Ukraine. All three firms said they would continue to pay their staff.

Anna MacDonald, a fund manager at Amati Global Investors, told the BBC Radio 4 Today Programme that firms who were joining the wave of firms leaving Russia were doing so because “shareholders and wider stakeholders wouldn’t stand for continued generation of revenues and profits” from the country,

“It was affecting their share prices and the feeling was that it was just utterly inappropriate to continue to do so,” she said.

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