McDonalds Starbucks Coca-Cola and Pepsi suspend Russian operations
The pull-out of iconic western brands from Russia is gathering momentum, with Starbucks, Coca-Cola and Pepsi joining McDonald's in pausing operations in response to Russia's invasion of Ukraine. Late on Tuesday, PepsiCo, the soft-drink and snack maker, said it was suspending all advertising in Russia and stopping the sale of its drinks brands, after a similar announcement by its rival Coca-Cola. Fast-food giant McDonald's said earlier that it will temporarily suspend operations at its 850 locations. The Chicago-based company, which owns 84% of its stores in Russia, could take a big financial hit because of the closures. In a recent regulatory filing, McDonald's said its restaurants in Russia and Ukraine contributed 9% of its annual revenue, or around $2bn. The company - which opened its first Russian branch in Pushkin Square in Moscow on 31 January 1990, when an estimated 38,000 Soviets lined up for hours to taste the Big Mac, a symbol of American capitalism - said it w...