new Delhi: The list is only growing for companies that are boycotting Russia to isolate them from the global arena following its advanced aggression in Ukraine. Now, McDonald’s, PepsiCo, Coca-Cola and Starbucks on Tuesday halted sales of their popular products in Russia, according to Reuters.
Pepsi and McDonald’s are seen as corporate pioneers, whose decades-ago efforts with the Soviet Union and the post-Soviet Russian state were seen as a sign of redefining international relations. According to Reuters, four multinational companies have major operations in Russia.
McDonald’s will continue with pay
Despite the closure of 847 McDonald’s restaurants, the company said it would continue to pay salaries to its 62,000 employees in Russia. The fast-food joint opened its first outlet in central Moscow’s Pushkin Square in 1990, becoming a symbol of American capitalism that flourished with the collapse of the Soviet Union.
Starbucks temporarily suspends operations
Starbucks Corp. has moved to temporarily close hundreds of stores in Russia in addition to suspending all advertising. The company has stopped selling its beverage brands but will continue to sell essential items like milk and baby food.
The Coca-Cola Company, Amazon, Bumble Join the List
The Coca-Cola Company will also close its business in Russia. Despite the US boycotting the event in protest of the Soviet invasion of Afghanistan, Coca-Cola remained the official drink of the 1980 Olympic Games in Moscow.
Other companies that pulled the plug on its Russia operations include Amazon.com Inc., which said it would stop accepting new customers for its cloud services in Russia and Ukraine.
Universal Music has suspended all operations in Russia, and online dating service Bumble Inc. will remove its apps from stores in Russia and Belarus.
Previously, Royal Dutch Shell plc stopped buying oil from Russia and insisted it would cut ties with the country entirely, while the United States continued its campaign to punish Moscow by imposing sanctions on Russian oil and energy imports. carried forward.
Britain also said it would impose sanctions on imports of Russian oil but would gradually phase them out during 2022 to give businesses time to find alternative sources of supply.
Shell, BP and Exxon Mobile
Shell and rivals BP Plc and Exxon Mobil Corp announced their plans to sell their stake in Russia and exit the country, leaving France’s TotalEnergy relatively isolated and hanging its investments there.