/Starbucks-Closes.jpg "Coffee chain Starbucks is leaving Russia due to its invasion of Ukraine. (Photo: Bloomberg via Getty Images)")
Due to Russia's invasion of Ukraine, the coffee giant Starbucks is permanently closing all 130 of its Russian outlets.
Starbucks ceased selling coffee in Russia on March 8 and is now taking the next step.
Starbucks has been franchised in Russia for fifteen years and employs two thousand individuals.
Approximately one percent of Starbucks' financial flow comes from its Russian operations.
In March, former Starbucks CEO Kevin Johnson stated, "We continue to watch the tragic events unfold and, today, we have decided to suspend all business activity in Russia, including shipment of all Starbucks products."
However, the coffee shop company has announced that these locations would close for good.
Starbucks will continue to compensate its 2,000 Russian employees for an additional six months as they search for new employment.
The coffee shop company is one of several Western corporations taking action against Russia in response to the country's efforts toward Ukraine.
After 30 years of business in Russia, McDonald's began selling its operations there last week.
McDonald's intends to sell its firm to a local buyer, who will be prohibited from using the McDonald's name, logo, or branding.
Chris Kempczinski, the CEO of McDonald's, remarked, "It is a complex issue with far-reaching consequences and no precedent."
In Russia, clothing retailers such as Next, ASOS, and Boohoo have also ceased operations.
H&M followed suit, despite Russia being the sixth-largest market for the corporation, accounting for approximately 4 percent of its revenues.
The complete list of corporations that have withdrawn ceased Russian imports or temporarily terminated connections include:
However, many other brands have refused to stop trading in Russia.
These include recognizable brands such as Subway and subway stated that its Russian proceeds would be donated to humanitarian causes.
