McDonald's to leave Russia after more than 30 years due to Ukraine war

McDonald's is set to sell off its Russian business, making it the latest major Western corporation to exit Russia since it invaded Ukraine in February.

The fast food chain - whose Russian business includes 850 restaurants that employ 62,000 people - pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.”

The Chicago-based company announced in early March that it was temporarily closing its stores in Russia but would continue to pay employees.

On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes. It did not identify a prospective buyer.CEO Chris Kempczinski said the “dedication and loyalty to McDonald's” of employees and hundreds of Russian suppliers made it a difficult decision to leave.

“However, we have a commitment to our global community and must remain steadfast in our values,” Kempczinski said in a statement, "and our commitment to our values means that we can no longer keep the arches shining there.”

As it tries to sell its restaurants, McDonald’s said it plans to start removing golden arches and other symbols and signs with the company’s name.

It said it will keep its trademarks in Russia.

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

Watch ITV News' report on Moscow's first McDonald's in 1990 as the Cold War appeared to thaw

It was a powerful symbol of the easing of Cold War tensions between the United States and Soviet Union. McDonald's was the first American fast food restaurant to open in the Soviet Union, which would collapse in 1991.

McDonald's decision to leave comes as other American food and beverage giants including Coca-Cola, Pepsi and Starbucks have paused or closed operations in Russia in the face of Western sanctions.