McDonald’s to sell Russia business after pausing operations due to Ukraine war

A view shows a McDonald’s restaurant in Saint Petersburg, Russia March 8, 2022.

Anton Vaganov | Reuters

McDonald’s said Monday that it would sell its business in Russia, a little more than two months after it paused operations in the country due to its invasion of Ukraine.

“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 company said in a news release.

McDonald’s has more than 800 restaurants and 62,000 employees in Russia. It said it seeking a local buyer.

The company also said it would attempt to make sure its employees in the country continue getting paid until a deal closes, and that it would attempt to help them hold on to their jobs under the new owners.

This is breaking news. Please check back for updates.

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