McDonald's plans to sell its Russian operations, making it the second major Western company to leave Russia since Russia invaded Ukraine in February.

The fast-food brand, whose Russian business consists of 850 stores and employs 62,000 people, cited the humanitarian situation caused by the war and stated that retaining its business in Russia "is no longer tenable nor consistent with McDonald's values."

The Chicago-based company stated at the beginning of March that it would temporarily close its stores in Russia while continuing to pay its employees.

On Monday, the company announced that it would attempt to have a Russian buyer hire and pay these employees until the deal closes. It failed to identify a potential purchaser.

The "dedication and loyalty to McDonald's" of employees and hundreds of Russian suppliers, according to CEO Chris Kempczinski, decided to depart difficultly.

"However, we have a commitment to our global community and must remain steadfast in our values," Kempczinski said. "Our commitment to our values means we can no longer keep the arches."

McDonald's plans to begin removing golden arches and other signs bearing the company's name as part of its efforts to sell its locations.

It stated that its trademarks would remain in Russia.

The first McDonald's in Russia opened in the heart of Moscow immediately after the fall of the Berlin Wall, more than three decades ago.